GoodRx Holdings, Inc. Q1 FY2025 earnings call

• Leadership Changes: Appointed Aaron Crittenden as President of RX Marketplace, Scott Pope as Chief Pharmacy Officer, and Gary Kline as SVP of Government Affairs.
• Business Performance: Over 12 million consumers and 750,000 HCPs used GoodRx in Q1 2025. Addressed Rite Aid's bankruptcy, positioned to handle script transitions. Focus on pharmacy partnerships, e-commerce offering, and pharma manufacturer solutions.
• Initiatives: Serve as an ally to pharmacies, help pharma manufacturers reach patients, build the prescriber's office as a go-to-market channel, and invest in the brand.

Prescription Marketplace: In Q1 2025, provided value to pharmacy partners addressing lower reimbursement and rising costs. Saw pressure on monthly active consumers but maintained leadership in prescription affordability. Launched e-commerce solution for retail pharmacies to streamline workflows. Integrated Savings Program (ISP): Partners with PBMs and is evaluating extension into non-covered medications. Pharma Manufacturer Solutions: Drove access and affordability solutions, expanded brand point-of-sale discount program with strong ROI from partnerships. Absolute financial performance: Total revenue was $203 million, up 3% vs prior year. Prescription transaction revenue up 2% y-o-y, manufacturer solutions up 17% y-o-y. Adjusted EBITDA was $69.8 million, up 11% y-o-y with a margin of 34.4%.

• Full year 2025 revenue range is $810 million to $840 million, with more conviction in the lower half due to macro factors. Adjusted EBITDA range is increased to $273 million to $287 million, up 5%-10% y-o-y.
• Second quarter revenue expected to be up sequentially from Q1, with adjusted EBITDA margin similar to Q1. Rite Aid's impact on guidance not included as it is less than 5% of revenue.

• Macroeconomic uncertainty including regulatory/policy changes, consumer sentiment, and tariffs.
• Rite Aid bankruptcy: Uncertainty around asset sale and potential script transitions.

Q: Lisa Gill asks about high impact initiatives and Rite Aid's impact.

A: Wendy and Chris discuss partnerships with retail pharmacies, brand partnerships, and Rite Aid's script transition plans.

Q: John Ransom asks about PBMs and GLP1s.

A: Wendy talks about cost plus pricing and GLP1 opportunities.

Q: Charles Rhyee asks about HCP engagement.

A: Wendy mentions Scott Pope's role and HCP engagement strategies.

Q: Jailendra Singh asks about guidance and pharma business.

A: Chris discusses revenue pipeline and MAC headwinds.

Q: Craig Hettenbach asks about capital allocation.

A: Chris and Wendy talk about stock buybacks and tuck-in acquisitions.

Q: George Hill asks about Medicare and biosims.

A: Wendy discusses Medicare exposure and biosim strategies.

Q: Steven Valiquette asks about revenue per MAC.

A: Chris mentions mix shift and inflation.

Q: Allen Lutz asks about VCRx acquisition.

A: Chris talks about strategic partnership.

Q: Michael Cherny asks about EBITDA margin.

A: Chris and Wendy discuss control over costs and strategic investments.

Q: Daniel Grosslight asks about GLP1 distribution.

A: Wendy talks about partnering with manufacturers for direct programs.