GoodRx Holdings, Inc. Q1 FY2026 earnings call

• Delivered strong first quarter performance with momentum across strategic growth priorities, validating the laid-out strategy. • PharmaDirect continues to be a key growth engine, with expansion of manufacturer-sponsored pricing programs and support for GLP-1 launches. • RxMarketplace has steady prescription transaction performance and scalable model. • Subscriptions are scaling with growth in condition-specific programs, including GoodRx for weight loss. • GoodRx is evolving from an affordability destination to a true access infrastructure, with capabilities for manufacturers to deliver self-pay programs. • Work with Eli Lilly and Company on ZepBound QuickPen and extension of subscription offering into the employer channel are examples of strategic initiatives.

PharmaDirect: In Q1, PharmaDirect saw 82% year-over-year growth, with revenue reaching $52.2 million. It has more than 125 self-pay programs live, and was involved in enabling access to various GLP-1 launches. RxMarketplace: Delivered steady prescription transaction performance in line with internal expectations, with monthly active consumers flat quarter over quarter, order volume and total claims more than doubling quarter over quarter. Subscriptions: Subscription offerings continued to scale, with the number of subscription plans returning to year-over-year growth, driven by GoodRx for weight loss and other condition-specific programs. Revenue contribution: PharmaDirect revenue was $52.2 million, subscription revenue was $24.4 million, and prescription transactions revenue was $113.7 million, with PharmaDirect showing strong growth contribution.

• For full year 2026, expect revenue in the range of $765 to $785 million and adjusted EBITDA to be at least $235 million. • Pharma direct revenue is expected to grow over 50% year over year. • Subscription revenue is expected to build throughout the year as condition-specific programs scale.

Q: Michael Czerny asks about change in guidance related to PTR revenue base.

A: Chris responds that prescription transaction revenue met internal expectations, MAC was slightly up quarter over quarter, and full year guidance for prescription transaction revenue was in line with expectations.

Q: Michael Czerny follows up on subscription base improvement.

A: Wendy says it's a combination of brand recognition, consumer engagement, strong connectivity with pharma, exceptional service, competitive pricing, and broad retail network; Chris adds that subscription offering built momentum with less marketing dollars pushed in and expects to spend more on marketing towards condition offerings.

Q: Peyton Engdahl asks about share script partnership update and ISB volume.

A: Company says nothing material from share script partnership, and ISB programs are performing consistent with expectations with stable volume.

Q: John Ransom asks about behavior changes with manufacturers and Rx Marketplace stabilization.

A: Wendy says not seeing impact from manufacturers' marketing spend pause, rather feedback is leaning in; Chris says MAC is expected to flatten with conservative approach for rest of year.

Q: Charles Wright asks about total prescriptions processed and weather impact.

A: Chris says consolidated prescription transactions not disclosed, but MAC was flat and weather didn't impact.

Q: Steven Valliquette asks about subscription revenue recognition and drug revenue.

A: Stephen confirms $39 monthly subscription fee hits subscription line, and no gross-up of drug revenue.

Q: Brian Tanquilla asks about pharma direct sequential growth and runway.

A: Chris says yes to sequential growth in pharma direct, and Wendy says ongoing partnerships with manufacturers bolster confidence in pipeline.

Q: Alan Lutz asks about Wegovy pill trajectory and marketing spend shift.

A: Wendy talks about strong performance of Wegovy pill and marketing budgets pivoted to condition-specific subscription offering.

Q: Craig Hettenbach asks about PTR trends beyond 2026.

A: Chris says Q1 is in range for 2026 comp, and they watch MACs closely for longer term.

Q: Luis asks about TrumpRx partnership economics.

A: Wendy says volume is incremental, and economic model is same as direct deals with pharma.

Q: Maxima asks about GLP-1 offerings differentiation.

A: Wendy says it's due to brand recognition, high NPS with prescribers, and broad retail network