GoodRx Stock Up After Reporting Prelim. Q4 Revenue

(RTTNews) - GoodRx Holdings, Inc. (GDRX), a prescription savings company, Wednesday announced its preliminary revenue for the fourth quarter and fiscal 2023. The results were better than its view.

Further, the company provided its outlook for the first quarter and fiscal 2024.

Preliminary quarterly revenue is reported between $195 million and $197 million which reflects an increase of around 6 percent to 7 percent year-over-year. This increase in expectation is driven by organic growth in Prescription Transactions Revenue.

The previous revenue guidance was in the range of $188 million to $194 million as announced on November 9.

Yearly revenue is between $749 million and $751 million, reflecting a decrease of around 2 percent year-over-year.

Adjusted revenue is expected to be in the range of $759 million to $761 million.

Previously, the company had expected revenue in the range of $742 million to $748 million and Adjusted revenue in the range of $752 million to $758 million.

On average, 14 analysts polled by Thomson Reuters had expected revenue of $190.77 million for the quarter and $744.26 million for the year. Analysts' estimates typically exclude special items.

Looking forward to the first quarter and the full year, the company expects revenue to grow in mid-single-digit percentages, year-over-year.

The company will publish its fourth quarter and full-year results on February 29.

Currently, GoodRx shares are trading at $6.30, up 10.32% on the Nasdaq.