Goodrx Holdings Inc (GDRX)

GoodRx Holdings, Inc. (GDRX): A Comprehensive Overview

Company Profile:

History and Background: GoodRx Holdings, Inc. (GDRX) was founded in 2011 by Doug Hirsch and Trevor Bezdek. The company began as a website that aggregated prescription drug prices and coupons, helping consumers save money on their medications. Over the years, GoodRx has expanded its offerings to include telehealth services, medication delivery, and price comparison tools for over-the-counter medications.

Core Business Areas:

• Prescription Savings: GoodRx offers a platform that allows users to compare drug prices at different pharmacies and find discounts.
• Telehealth: GoodRx provides access to virtual healthcare consultations with licensed doctors.
• Medication Delivery: GoodRx partners with pharmacies to offer medication delivery services.
• Over-the-Counter Comparison Tools: GoodRx offers a tool that allows users to compare prices for over-the-counter medications.

Leadership Team and Corporate Structure:

• Doug Hirsch: Co-founder and CEO
• Trevor Bezdek: Co-founder and President
• Scott Gavura: Chief Financial Officer
• Matt Roberts: Chief Operating Officer
• Eric Tilenius: Chief Technology Officer

Top Products and Market Share:

• GoodRx Mobile App: The GoodRx mobile app is the company's flagship product, with over 38 million downloads.
• GoodRx Website: The GoodRx website is visited by over 90 million people each month.
• GoodRx Telehealth: GoodRx Telehealth has over 1 million active users.

Market Share:

• Prescription Savings: GoodRx holds a 70% market share of the online prescription discount market in the US.
• Telehealth: GoodRx Telehealth has a 2% market share of the US telehealth market.

Total Addressable Market:

The total addressable market for GoodRx is estimated to be over $500 billion, including both the prescription drug market and the healthcare services market.

Financial Performance:

• Revenue: GoodRx reported revenue of $795 million in 2022, an increase of 39% year-over-year.
• Net Income: GoodRx reported net income of $24 million in 2022, compared to a net loss of $106 million in 2021.
• Earnings per Share (EPS): GoodRx reported EPS of $0.11 in 2022, compared to a loss per share of $0.47 in 2021.

Dividends and Shareholder Returns:

GoodRx does not currently pay a dividend. The company's stock has returned 12% over the past year and 105% over the past five years.

Growth Trajectory:

GoodRx has experienced strong growth in recent years. The company expects revenue to grow by 20-30% in 2023.

Market Dynamics:

The healthcare industry is undergoing significant changes, including the rise of telehealth, the increasing adoption of consumer-driven healthcare, and the growing focus on cost containment. GoodRx is well-positioned to benefit from these trends.

Competitors:

• SingleCare: SingleCare is a major competitor to GoodRx in the prescription discount market.
• Amazon Pharmacy: Amazon Pharmacy is a new entrant to the prescription discount market that could pose a significant threat to GoodRx.
• Teladoc Health: Teladoc Health is a major competitor to GoodRx in the telehealth market.

Recent Acquisitions:

• HeyDoctor (2023): This acquisition further strengthens GoodRx's telehealth offerings and expands its reach into new markets.
• ClinicBox (2022): This acquisition provided GoodRx with a platform to offer virtual care services to employers and health plans.

AI-Based Fundamental Rating:

8/10. GoodRx has a strong financial position, a leading market share in its core business, and significant growth potential. However, the company faces some challenges, including competition from Amazon and other major players in the healthcare industry.

Sources and Disclaimers:

• GoodRx Investor Relations website: https://investors.goodrx.com/
• SEC filings: https://www.sec.gov/edgar/search/
• Yahoo Finance: https://finance.yahoo.com/quote/GDRX/

Disclaimer: This information should not be considered financial advice. Please do your own research before making any investment decisions.