GoodRx Holdings, Inc.
Key statistics
from XBRL data in SEC filingsAI briefing
from the latest 10-K, 10-Q and 8-K eventsGoodRx is a U.S. consumer-focused digital healthcare platform that provides prescription price transparency and negotiated discounts through its app and website, along with subscription programs and pharma manufacturer services.
What they do
GoodRx operates a price comparison tool for prescription drugs, processing over 420 billion pricing data points daily to offer free access to negotiated discounts at partner pharmacies via GoodRx codes. It also offers condition-specific subscription programs (e.g., weight loss), telehealth services, and pharma direct solutions (access programs for GLP-1 and other drugs). Revenue is earned from transaction fees, subscription fees, and fees from pharma manufacturers.
Revenue drivers
- Prescription Transactions — Revenue from consumers using GoodRx codes at pharmacies; declined 26% year-over-year to $106.4M in Q2 2026 due to retail pharmacy store closures, volume reductions, and a deliberate shift toward subscriptions.
- Subscription — Revenue from subscription programs (e.g., Gold, condition-specific plans); grew 39% year-over-year to $28.5M in Q2 2026, driven by expansion of weight loss and other programs.
- Pharma Direct — Revenue from pharma manufacturers for patient access programs, including GLP-1 offerings; grew 76% year-over-year to $61.6M in Q2 2026, driven by organic market penetration.
Recent performance
In Q2 2026, total revenue decreased 1% year-over-year to $200.4M, with Prescription Transactions down 26% partially offset by strong growth in Subscription (+39%) and Pharma Direct (+76%). Net income was $8.5M (4.3% margin), Adjusted EBITDA was $63.7M (31.8% margin), and operating cash flow was $80.8M. For the first six months of 2026, revenue totaled $394.4M.
Strategy
Management is prioritizing the scaling of Pharma Direct and subscription offerings, deliberately shifting investment away from legacy prescription transactions toward higher-growth, more durable revenue streams. Capital allocation priorities are investing for profitable growth, debt repayment, share buybacks, and strategic M&A. The company is extending its role as an 'access and affordability layer' across the healthcare ecosystem, aiming to capture multiple monetization points per consumer.
Risks
- Retail Pharmacy Disruption — Ongoing retail pharmacy store closures and volume reductions have materially reduced Prescription Transactions revenue and Monthly Active Consumers.
- Government Initiatives — The new TrumpRx.gov platform and potential Most-Favored-Nation pricing could shift market dynamics; GoodRx is a key integration partner but impact is uncertain and may be significant.
- Macro & Regulatory Changes — The One Big Beautiful Bill Act cuts Medicaid funding and tightens eligibility, which may increase consumer demand for discounts but also introduces regulatory uncertainty.
- Competitive & Platform Risk — If consumers or industry players (pharmacies, PBMs, manufacturers) do not continue to adopt GoodRx's platform, growth and margins could suffer.
Outlook
Management raised full-year 2026 revenue guidance to $790–$805M (roughly flat to slightly up from $796.9M in 2025) and Adjusted EBITDA to $240–$250M. They expect continued strong growth in Pharma Direct andsubscriptions, though Prescription Transactions will remain pressured near-term. The company believes its investments are accelerating a return to top-line growth and strengthening long-term durability.