GoodRx Reports Third Quarter 2025 Results

Company Maintains Full Year 2025 Revenue and Adjusted EBITDA Expectations; Raises Pharma Manufacturer Solutions Revenue Outlook to Approximately 35% Year-Over-Year Growth for 2025

SANTA MONICA, Calif.--(BUSINESS WIRE)--GoodRx Holdings, Inc. (Nasdaq: GDRX) ("we," "us," "our," “GoodRx,” or the “Company”), the leading platform for medication savings in the U.S., has released its financial results for the third quarter of 2025.

Third Quarter 2025 Highlights

• Revenue of $196.0 million
• Net income of $1.1 million; Net income margin of 0.6%
• Adjusted Net Income¹ of $28.8 million; Adjusted Net Income Margin¹ of 14.7%
• Adjusted EBITDA¹ of $66.3 million; Adjusted EBITDA Margin¹ of 33.8%
• Net cash provided by operating activities of $76.0 million

“GoodRx delivered another quarter of strong execution and meaningful progress across our strategic priorities,” said Wendy Barnes, Chief Executive Officer and President of GoodRx. “We expanded our manufacturer partnerships, launched innovative pharmacy counter solutions, and strengthened our brand as the most trusted name in prescription access and affordability. We also engaged meaningfully with the Presidential administration, helping to inform policy efforts that expand access and affordability for all Americans. Even amid a dynamic healthcare environment, our platform continues to demonstrate its power and relevance, delivering real value to consumers, pharmacies, and manufacturers, and positioning GoodRx for sustainable, long-term growth.”

Third Quarter 2025 Financial Overview (all comparisons are made to the same period of the prior year unless otherwise noted):

Revenue increased to $196.0 million compared to $195.3 million.

Prescription transactions revenue decreased 9% to $127.3 million compared to $140.4 million, primarily driven by a decrease in the number of our Monthly Active Consumers, due to the broader changes in the retail pharmacy landscape, including store closures, and volume reduction in one of our integrated savings programs, partially offset by improved unit economics related to contracting with certain of our customers and partners and favorable changes in sales mix.

Subscription revenue decreased 3% to $20.7 million compared to $21.3 million, primarily driven by a decrease in the number of our subscription plans.

Pharma manufacturer solutions revenue increased 54% to $43.4 million compared to $28.1 million, driven by organic growth as we continued to expand our market penetration with pharma manufacturers and other customers, including ongoing growth in our consumer direct pricing (previously described as point of sale discount programs).

Net income was $1.1 million compared to $4.0 million. Net income margin was 0.6% compared to 2.0%. Adjusted Net Income¹ was $28.8 million compared to $31.9 million.

Adjusted EBITDA¹ was $66.3 million compared to $65.0 million. Adjusted EBITDA Margin¹ was 33.8% compared to 33.3%.

Cash Flow and Capital Allocation

Net cash provided by operating activities in the third quarter was $76.0 million compared to $86.9 million in the comparable period last year. As of September 30, 2025, we had cash and cash equivalents of $273.5 million and total outstanding debt of $496.3 million.

We are focused on a disciplined approach to capital allocation, centered on furthering our mission and creating shareholder value. Our capital allocation priorities are investing for profitable growth, paying down debt, buying back shares, and M&A that aligns with our strategic priorities. These capital allocation priorities support our long-term growth strategy while also providing flexibility to navigate near-term challenges.

Share Repurchases

During the third quarter of 2025, we repurchased 13.4 million shares of Class A common stock for an aggregate of $61.6 million. As of September 30, 2025, we had $81.4 million of unused authorized share repurchase capacity under our $450.0 million share repurchase program, which does not have an expiration date.

Guidance

For the full year 2025, management is anticipating the following:

“GoodRx delivered a solid financial quarter and strong execution across our key initiatives,” said Chris McGinnis, Chief Financial Officer and Treasurer of GoodRx. “Total revenue of $196 million increased slightly versus the prior year, with pharma manufacturer solutions seeing 35% growth year-to-date when compared to the first nine months of 2024.”

“Looking ahead, we are reaffirming our full-year 2025 revenue and Adjusted EBITDA² guidance,” continued McGinnis. “While we expect fourth quarter revenue to decline sequentially due to the timing of certain manufacturer deals that closed earlier than anticipated, we believe our fundamentals remain strong. We are executing with discipline, maintaining a healthy balance sheet, and continuing to focus on driving profitable growth and long-term value creation.”

Investor Conference Call and Webcast

GoodRx management will host a conference call and webcast tomorrow, November 5, 2025, at 5:00 a.m. Pacific Time (8:00 a.m. Eastern Time) to discuss the results and the Company’s business outlook.

To participate via telephone, please call (800) 715-9871 at least 10 minutes before the conference call is scheduled to begin. The conference ID is 9085550.

The call will also be webcast live on the Company’s investor relations website at https://investors.goodrx.com, where accompanying materials will be posted prior to the conference call.

Approximately one hour after completion of the live call, an archived version of the webcast will be available on the Company’s investor relations website at https://investors.goodrx.com for at least 30 days.

About GoodRx

GoodRx is the leading platform for medication savings in the U.S., used by nearly 30 million consumers and over one million healthcare professionals annually. Uniquely situated at the center of the healthcare ecosystem, GoodRx connects consumers, healthcare professionals, payers, pharmacy benefit managers, pharmaceutical manufacturers, and retail pharmacies to make saving on medications easier. By reducing friction and inefficiencies, GoodRx helps consumers save time and money when filling prescriptions so they can get the care they deserve. Since 2011, GoodRx has helped Americans save over $85 billion on the cost of their medications.

GoodRx periodically posts information that may be important to investors on its investor relations website at https://investors.goodrx.com. We intend to use our website as a means of disclosing material non-public information and for complying with our disclosure obligations under Regulation FD. Accordingly, investors and potential investors are encouraged to consult GoodRx’s website regularly for important information, in addition to following GoodRx’s press releases, filings with the Securities and Exchange Commission and public conference calls and webcasts. The information contained on, or that may be accessed through, GoodRx’s website is not incorporated by reference into, and is not a part of, this press release.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements contained in this press release that do not relate to matters of historical fact should be considered forward-looking statements, including without limitation statements regarding our future results of operations and financial position, industry and business trends, including uncertainty in the macro environment, the impact of retail store closures and bankruptcies on our future financial results, the potential impact of the new government sponsored direct-to-consumer platform called “TrumpRx.gov” and other evolving federal initiatives, our value proposition, consumer and partner perception and our position in the healthcare ecosystem/industry, our integrated savings programs, the impact of recent volume reduction in the program with a certain PBM partner, our business strategy and our ability to execute on our strategic priorities and value creation, our plans, market opportunity, strategic initiatives and long-term growth prospects, our capital allocation priorities, the anticipated expansion of our condition-specific subscription program and our ability to expand our offerings through partnerships with pharmaceutical companies. These statements are neither promises nor guarantees, but involve known and unknown risks, uncertainties and other important factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements, including, but not limited to, risks related to our limited operating history and early stage of growth; our recent growth rates may not be sustainable or indicative of future growth; our ability to achieve broad market education and change consumer purchasing habits; our general ability to continue to attract, acquire and retain consumers in a cost-effective manner; our significant reliance on our prescription transactions offering and ability to expand our offerings; changes in medication pricing and the significant impact of pricing structures negotiated by industry participants; our general inability to control the categories and types of prescriptions for which we can offer savings or discounted prices; our reliance on a limited number of industry participants, including pharmacy benefit managers, pharmacies, and pharma manufacturers; the competitive nature of our industry; risks related to pandemics, epidemics or outbreak of infectious disease; the accuracy of our estimate of our addressable market and other operational metrics; our ability to respond to changes in the market for prescription pricing and to maintain and expand the use of GoodRx codes; our ability to maintain positive perception of our platform or maintain and enhance our brand; risks related to any failure to maintain effective internal control over financial reporting; risks related to use of social media, emails, text messages and other messaging channels as part of our marketing strategy; our dependence on our information technology systems and those of our third-party vendors, and risks related to any failure or significant disruptions thereof; risks related to government regulation of the internet, e-commerce, consumer data and privacy, information technology and cybersecurity; risks related to the use of AI and machine learning in our business; risks related to a decrease in consumer willingness to receive correspondence or any technical, legal or any other restrictions to send such correspondence; risks related to any failure to comply with applicable data protection, privacy and security, advertising and consumer protection laws, regulations, standards, and other requirements; our ability to utilize our net operating loss carryforwards and certain other tax attributes; the risk that we may be unable to realize expected benefits from our restructuring and cost reduction efforts; our ability to attract, develop, motivate and retain well-qualified employees; risks related to our acquisition strategy; risks related to our debt arrangements; interruptions or delays in service on our apps or websites or any undetected errors or design faults; our reliance on third-party platforms to distribute our platform and offerings, including software as-a-service technologies; systems failures or other disruptions in the operations of these parties on which we depend; risks related to climate change; the increasing focus on environmental sustainability and social initiatives; risks related to our intellectual property; risks related to operating in the healthcare industry; risks related to our organizational structure; litigation related risks; our ability to accurately forecast revenue and appropriately plan our expenses in the future; risks related to general economic factors, natural disasters or other unexpected events; risks related to fluctuations in our tax obligations and effective income tax rate which could materially and adversely affect our results of operations; risks related to the healthcare reform legislation and other proposed or future changes impacting the healthcare industry and healthcare spending which may adversely affect our business, financial condition and results of operations; as well as the other important factors discussed in the section entitled “Risk Factors” of our Annual Report on Form 10-K for the fiscal year ended December 31, 2024, as updated by our Quarterly Report on Form 10-Q for the three months ended September 30, 2025, and in our other filings with the Securities and Exchange Commission. The forward-looking statements in this press release are based upon information available to us as of the date of this press release, and while we believe such information forms a reasonable basis for such statements, such information may be limited or incomplete, and our statements should not be read to indicate that we have conducted an exhaustive inquiry into, or review of, all potentially available relevant information. These statements are inherently uncertain and investors are cautioned not to unduly rely upon these statements. While we may elect to update such forward-looking statements at some point in the future, we disclaim any obligation to do so, even if subsequent events cause our views to change.

Key Operating Metrics

Monthly Active Consumers (MACs) refers to the number of unique consumers who have used a GoodRx code to purchase a prescription medication in a given calendar month and have saved money compared to the list price of the medication. A unique consumer who uses a GoodRx code more than once in a calendar month to purchase prescription medications is only counted as one Monthly Active Consumer in that month. A unique consumer who uses a GoodRx code in two or three calendar months within a quarter will be counted as a Monthly Active Consumer in each such month. Monthly Active Consumers do not include subscribers to our subscription offerings, consumers of our pharma manufacturer solutions offering, or consumers who use our telehealth offering. When presented for a period longer than a month, Monthly Active Consumers are averaged over the number of calendar months in such period. Monthly Active Consumers from acquired companies are only included beginning in the first full quarter following the acquisition. Effective January 1, 2025, Monthly Active Consumers from acquired companies are included beginning from the acquisition date. Prior to January 1, 2025, Monthly Active Consumers from acquired companies were only included beginning in the first full quarter following the acquisition. As our business continues to evolve, we are reassessing the Monthly Active Consumers metric as a primary indicator of performance to ensure it aligns with how we measure growth and profitability.

Subscription plans represent the ending subscription plan balance across our subscription offerings, GoodRx Gold, Kroger Savings Club (sunset in July 2024), condition-specific related subscription programs (first launched in June 2025), and RxSmartSaver+ powered by GoodRx (launched in July 2025). For GoodRx Gold, Kroger Savings Club, and RxSmartSaver+, each subscription plan may represent more than one subscriber since family subscription plans may include multiple members.

We exited the third quarter of 2025 with over 6 million prescription-related consumers that used GoodRx across our prescription transactions and subscription offerings. Our prescription-related consumers represent the sum of Monthly Active Consumers for the three months ended September 30, 2025 and subscribers to our subscription plans as of September 30, 2025.

Investor Contact
GoodRx
Aubrey Reynolds
ir@goodrx.com

Press Contact
GoodRx
Lauren Casparis
lcasparis@goodrx.com