GoodRx Holdings falls on lower quarterly net income

GoodRx Holdings

08/08/2024 12:30

** Shares of digital healthcare platform GoodRx Holdings
 GDRX.O  fall 4.2% to $8.25 premarket  
    ** Co reports Q2 net income of $6.7 mln, compared with a net
income of $58.8 mln a year ago
    ** Q2 subscription revenue decreased 8% to $22 mln from
$23.9 mln a year ago 
    ** GDRX expects FY 2024 revenue to be at the lower end of
its previous forecast of $800 mln to $810 mln 
    ** "The miss in quarterly EPS (which appears to be driven by
interest expense), and commentary on achieving the lower end of
the guide due to Rite Aid store closures could weigh on shares a
bit but are not serious worries in our view," says brokerage
Leerink Partners
    ** Up to previous close, stock up 28.7% YTD 

 (Reporting by Sneha S K)
 ((Sneha.SK@thomsonreuters.com;))