GoodRx Holdings stock took a turn for the worse late Monday, after the prescription-drug-referral platform posted disappointing fourth-quarter results.
Holdings stock took a turn for the worse late Monday, after the prescription-drug-referral platform posted disappointing fourth-quarter results and weaker-than-expected guidance for both the March quarter, and all of 2022.
GoodRx (ticker: GDRX) stock plunged more than 27% in late trading to $20, an all-time low. The company went public in September 2020 at $33 a share.
For the quarter, GoodRx posted revenue of $213.3 million, up 39% from a year earlier, but below the Street consensus forecast for $217.5 million. Adjusted earnings per share were 10 cents, in line with estimates. Under generally accepted accounting principles, the company lost 10 cents a share. The company said in a letter to shareholders that the growth of its prescription-transaction business “continued to be impacted by Covid-19 headwinds, as healthcare-utilization challenges continue, and the cumulative impact of almost two years of reduced prescription starts—and therefore reduced refills—impacted new and returning users.”
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