Healthcare tech company GoodRx (NASDAQ: GDRX) will be reporting results tomorrow after the bell. Here’s what you need to know.
GoodRx missed analysts’ revenue expectations by 0.6% last quarter, reporting revenues of $198.6 million, flat year on year. It was a slower quarter for the company, with a significant miss of analysts’ EPS estimates. It added 100,000 customers to reach a total of 6.6 million.
Is GoodRx a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting GoodRx’s revenue to grow 2.2% year on year to $202.3 million, slowing from the 7.6% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.10 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. GoodRx has missed Wall Street’s revenue estimates twice over the last two years.
Looking at GoodRx’s peers in the healthcare technology segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Tandem Diabetes delivered year-on-year revenue growth of 22.3%, beating analysts’ expectations by 6.8%, and Hims & Hers Health reported revenues up 111%, topping estimates by 8.3%. Tandem Diabetes traded up 18.8% following the results.
Read our full analysis of Tandem Diabetes’s results here and Hims & Hers Health’s results here.
There has been positive sentiment among investors in the healthcare technology segment, with share prices up 3.7% on average over the last month. GoodRx is up 19.7% during the same time and is heading into earnings with an average analyst price target of $6.56 (compared to the current share price of $4.80).
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