Thursday, GoodRx Holdings GDRX reported a first-quarter adjusted EPS of $0.08, which was in line with the consensus and higher than the $0.07 reported a year ago.

The company reported sales of $197.88 million, beating the consensus of $196.08 million.

Revenue and Adjusted Revenue increased 8% to $197.9 million compared to $184.0 million. 

Prescription transactions revenue increased 8% to $145.4 million, primarily driven by a 10% increase in Monthly Active Consumers, principally from organic growth. 

Subscription revenue decreased 6% to $22.6 million, primarily driven by a decrease in subscription plans due to the anticipated sunset of the partnership subscription program, Kroger Savings Club. 

Pharma manufacturer solutions revenue increased 20% to $24.5 million, primarily driven by organic growth. 

Related: GoodRx Holdings Analyst Turns Bullish Ahead Of Q1 Earnings.

Guidance: GoodRx forecasts second-quarter revenue of ~$200 million versus consensus of $199.68 million, with adjusted EBITDA margin expected in the low thirty-percent range.

GoodRx expects 2024 revenue of $800 million-$810 million (prior view ~$800 million) versus a consensus of $800.99 million, with adjusted EBITDA over $250 million (prior view ~$250 million).

The full-year growth rate has been tempered by approximately $15 million of topline impact associated with the de-prioritization of vitaCare and the anticipated sunset of the Kroger Savings Club. 

Additionally, contra-revenue related to consumer incentives is expected to increase by almost $10 million this year. 

In aggregate, this anticipated $25 million topline impact is absorbed in 2024 sales guidance, as is the ongoing full-year effect of the Change Healthcare outage with its expected low-single-digit million-dollar impact.

Read Next: Telemedicine GoodRx Has Potential To Excel, Close Valuation Gap By 2025, Analyst Says.

Price Action: GDRX shares are down 8.74% at $6.945 at last check Thursday.

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