GoodRx preliminary revenue tops estimates, sending shares higher
Investing.com -- Shares in Goodrx Holdings (NASDAQ:GDRX) surged in early trading in New York on Wednesday after the healthcare group unveiled preliminary fourth-quarter revenue that topped analysts' estimates.
California-based GoodRx said it expects sales in the three months ended Dec. 31 to be in the range of $195 million-$197 million, which would be above Bloomberg consensus expectations of $190.9 million. The company had previously guided for revenue of $188M-$194M.
Adjusted earnings before interest, tax, depreciation and amortization (EBITDA) margin for the period is also anticipated to be in the upper end of the firm's prior outlook of 2%-5%.
GoodRx, the operator of a telemedicine platform that offers drug discounts in the U.S., said it was boosted by higher growth in prescription transaction revenues due in part to stronger seasonal respiratory illnesses and milder weather conditions.
"We are encouraged by the preliminary fourth quarter results and the progress we continue to make against our priorities," said Chief Financial Officer Karsten Voermann in a statement.
Voermann added that while the "line of sight" into its only days-old current quarter is "limited," the group is "pleased with our initial trajectory."
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