GoodRx Holdings, Inc. (GDRX), a resource for healthcare savings and information, reported Thursday that its third-quarter net loss was $38.50 million, compared to a net loss of $41.73 million last year. Loss per share was $0.09, narrower than prior year’s loss of $0.10 per share.
Adjusted net income was $25.5 million or $0.06 per share, compared to prior year’s adjusted net income of $29.9 million or $0.07 per share.
Analysts on average also expected the company to report earnings of $0.06 per share, according to figures compiled by Thomson Reuters. Analysts’ estimates typically exclude special items.
Revenue decreased 4 percent to $179.96 million from $187.32 million a year ago, primarily due to a $10.0 million contract termination payment to a client.
Adjusted revenue increased 1 percent to $189.96 million, primarily driven by growth in prescription transactions revenue.
The Street was looking for revenues of $188.28 million for the quarter.
Looking ahead for the fourth quarter, the company projects revenue on a reported and adjusted basis in the range of $188 million to $194 million, representing 2 percent-5 percent year-over-year growth.
Adjusted EBITDA Margin for the quarter is expected to be in the mid-to-high twenty-percent range.
For fiscal 2023, the company now projects revenue in the range of $742 million to $748 million, representing a decline of 3 percent to 2 percent. Adjusted revenue would be between $752 million and $758 million, representing a decline of 2 percent to 1 percent.
The company previously expected fiscal 2023 total revenue of approximately $750 million to $760 million.
The analysts expect revenues of $192.67 million for the fourth quarter and $754.99 million for fiscal 2023.
In pre-market activity on Nasdaq, GoodRx shares were trading at $5.25, down 4.02 percent.
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