Healthcare tech company GoodRx (NASDAQ:GDRX) will be announcing earnings results tomorrow before the bell. Here’s what investors should know.
GoodRx met analysts’ revenue expectations last quarter, reporting revenues of $195.3 million, up 2.8% year on year. It was a slower quarter for the company, with a significant miss of analysts’ EPS estimates. It lost 100,000 customers and ended up with a total of 6.5 million.
Is GoodRx a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting GoodRx’s revenue to grow 1.6% year on year to $199.8 million, slowing from the 6.8% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.10 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 only missed Wall Street’s revenue estimates once over the last two years, exceeding top-line expectations by 0.4% on average.
Looking at GoodRx’s peers in the healthcare technology segment, some have already reported their Q4 results, giving us a hint as to what we can expect. Hims & Hers Health delivered year-on-year revenue growth of 95.1%, beating analysts’ expectations by 2.2%, and Premier reported a revenue decline of 14.2%, in line with consensus estimates. Hims & Hers Health traded down 22.5% following the results while Premier was also down 14.3%.
Read our full analysis of Hims & Hers Health’s results here and Premier’s results here.
Stocks generally had a good 2024. The Fed fought high inflation and won without sending the economy into a recession, otherwise lovingly known as a soft landing. The U.S. Central Bank is now cutting rates. That, plus the election of Donald Trump in November 2024, sent markets even higher, and while some of the healthcare technology stocks have shown solid performance, the group has generally underperformed, with share prices down 4.4% on average over the last month. GoodRx is down 4.5% during the same time and is heading into earnings with an average analyst price target of $6.88 (compared to the current share price of $4.67).
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