GoodRx (GDRX) Q3 Earnings Report Preview: What To Look For

Healthcare tech company GoodRx (NASDAQ:GDRX) will be reporting earnings this Tuesday after market close. Here’s what to expect.

GoodRx missed analysts’ revenue expectations by 1.3% last quarter, reporting revenues of $203.1 million, up 1.2% year on year. It was a disappointing quarter for the company, with EPS in line with analysts’ estimates and a significant miss of analysts’ customer base estimates. It lost 700,000 customers and ended up with a total of 5.7 million.

Is GoodRx a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.

This quarter, analysts are expecting GoodRx’s revenue to be flat year on year at $193.9 million, slowing from the 2.8% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.09 per share.

Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. GoodRx has missed Wall Street’s revenue estimates three times over the last two years.

Looking at GoodRx’s peers in the healthcare technology segment, only Omnicell has reported results so far. It beat analysts’ revenue estimates by 5%, delivering year-on-year sales growth of 10%. The stock traded up 13.6% on the results.

Investors in the healthcare technology segment have had steady hands going into earnings, with share prices flat over the last month. GoodRx is down 25.8% during the same time and is heading into earnings with an average analyst price target of $5.39 (compared to the current share price of $3.40).

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