On this page of StockholderLetter.com we present the latest annual shareholder letter from GoodRx Holdings, Inc. — ticker symbol GDRX. Reading current and past GDRX letters to shareholders can bring important insights into the investment thesis.

 •  4/23/2025 Letter Continued (Full PDF)
 •  5/1/2023 GDRX Stockholder Letter
 •  4/25/2024 GDRX Stockholder Letter
 •  More "Information Technology Services" Category Stockholder Letters
 •  GDRX Benford's Law Stock Score = 68

GDRX Shareholder/Stockholder Letter Transcript:

2024
Annual Report
GoodRx Holdings, Inc.

GoodRx makes it easy
for people to save time
and money when filling
medications.
   Using GoodRx really
was a weight lifted off
me. I felt like someone
was there to help me.   
Monica Gonzalez
GoodRx consumer

Forward-Looking Statement:
This Annual Report contains forward-looking statements within the meaning of the
Private Securities Litigation Reform Act of 1995. All statements contained in this
Annual Report that do not relate to matters of historical fact should be considered
forward-looking statements, including, without limitation, statements regarding our
future results of operations and financial position, industry and business trends, our
value proposition, our collaborations and partnerships with third parties, including our
integrated savings program and anticipated expansion to non-covered brands, our
direct contracting approach with select pharmacies, enhancing shareholder value,
our business strategy, our plans, market opportunity and growth, and our objectives
for future operations. These statements are neither promises nor guarantees, but
involve known and unknown risks, uncertainties, and other important factors that may
cause our actual results, performance, or achievements to be materially different
from any future results, performance or achievements expressed or implied by the
forward-looking statements, including the important factors discussed in Part I, Item
1A,    Risk Factors    of our Annual Report on Form 10-K for the year ended December
31, 2024 included herewith, and our other filings with the SEC. These factors could
cause actual results to differ materially from those indicated by the forward-looking
statements made in this Annual Report. Any such forward-looking statements
represent management   s estimates as of the date of this Annual Report. While we
may elect to update such forward-looking statements at some point in the future, we
disclaim any obligation to do so, even if subsequent events cause our views to change.

To our valued shareholders:
At GoodRx, we are proud of the role we play in making medications more
accessible and affordable for millions of Americans. Uniquely situated at
the center of the pharmacy ecosystem, we connect consumers, healthcare
professionals, pharmacies, pharmaceutical manufacturers, and pharmacy
benefit managers to make saving on medications simpler. We strive to reduce
friction and improve access, making it easy for people to save time and money
when filling medications, so they can get the care they deserve. As a valuable
complement to insurance, we aim to fill in the coverage gaps and solve benefit
design challenges that consumers are facing.
We believe our solutions have never been more needed as healthcare is more
complex, friction-filled, and expensive. Benefit design is more restrictive with
fewer drugs on formulary, more utilization management, and higher costs.
Pharmaceutical manufacturers face barriers in getting their brand medications to
consumers. Retail pharmacy economics are distorted with rising reimbursement
pressure and operational costs. All the while, more of the cost burden is shifting
to the consumer.
In 2024, we made significant progress in helping consumers, healthcare
professionals, and other constituents in the pharmacy ecosystem solve
various pain points:
    Consumers came to GoodRx to save time and money on their medications.
Nearly thirty million consumers used GoodRx in 2024, which was almost
five million more than 2023. We served as a valuable complement to health
insurance. We estimate that over 90% of our users had insurance    and still
needed GoodRx because of the increasing costs and narrowing coverage
of their plan. We delivered significant savings. In 2024, GoodRx users
saved 83% on retail prescription prices, which resulted in $17 billion in
medication savings  .
Fiscal Year 2024
Highlights
~$85B
Saved by consumers
cumulatively1
~$17B
Saved by consumers
in 20242
~30M
Consumers saved on
their prescriptions using
GoodRx in 20243
1M+
Unique healthcare
professionals (HCPs)
visited GoodRx in 20244
    Healthcare professionals used GoodRx to get their patients on the
medications they need and save precious time. Over one million
healthcare professionals used GoodRx in 2024. We served as a trusted
partner, helping patients adhere to treatment plans and receive the care
they deserve.
    Pharmacies worked with GoodRx to acquire new consumers, reduce
friction at the counter, and improve their profitability. GoodRx partnered
closely with pharmacies to drive sustainable value and to help solve
challenges they faced around lower reimbursement and higher store
costs. Our flexible contracting model supported pharmacies in their
ability to merchandise.
1
As of 12/31/24. Savings are measured as the difference between the pharmacy list price and the price the consumer pays utilizing a GoodRx code at the same pharmacy. Because consumers of our website and mobile
application may switch pharmacies if they find a better discount, our consumer savings calculation includes an estimate of savings achieved based on switching pharmacies. The cumulative total may not reconcile to the sum
of cumulative savings per annum due to rounding.
2
Based on 2024 consumer savings. Savings are measured as the difference between the pharmacy list price and the price the consumer pays utilizing a GoodRx code at the same pharmacy. Because consumers of our website
and mobile application may switch pharmacies if they find a better discount, our consumer savings calculation includes an estimate of savings achieved based on switching pharmacies.
3
LTM data as of 12/31/24.
4
Based on internal data on unique healthcare provider (   HCP   ) visits to GoodRx for the year ended December 31, 2024. A unique HCP who visits GoodRx more than once during a given year is only counted as one unique HCP
in that year.
5
Based on GoodRx Power Patients Survey, n=1,075 Standard Users, n=1,624 Power Patients (weighted), Conducted August 28-September 13, 2023.

    Pharmaceutical manufacturers worked with GoodRx to make their brand
medications available to more consumers. In 2024, we partnered with
over 200 brands on the GoodRx platform, which was up from 150 in 2023.
We helped pharma manufacturers serve more patients and grow their
revenue through our integrated access solutions, brand point-of-sale
discount programs, and our eCommerce solution. We saw pharmaceutical
manufacturers expanding their scope of work with us, moving from one
brand to entire portfolios of brands. We ended 2024 with nearly three times
the number of brand point-of-sale discount programs than we started the
year with.
    Pharmacy benefit managers worked with us to gain incremental volume
and help bridge coverage gaps for their clients. Our integrated savings
program provided consumers with a seamlessly integrated complement
to their health insurance. While the program in 2024 primarily worked on
covered generic medications, we intend to expand to non-covered brands.
We are very proud of the value we provided across the pharmacy ecosystem,
which was reflected through our financial and operational performance. In 2024,
revenue grew 6% and Adjusted EBITDA increased 20% compared to 2023.
Additionally, Adjusted EBITDA Margin was up 420 basis points year-over-year,
marking another year of meaningful margin expansions. We saw increased flow
through and margin accretion throughout the year, with Adjusted EBITDA Margin
growing sequentially every quarter of 2024, from 31.7% in Q1 to 33.8% in Q4. Our
2024 financial performance was the direct result of our execution against our
priorities. I would like to thank our incredible team of dedicated and passionate
employees who helped drive this meaningful progress.
Fiscal Year 2024
Highlights
$792.3M
Revenue
$260.2M
Adjusted EBITDA6
32.8%
Adjusted EBITDA Margin6
$183.9M
Net Cash Provided By
Operating Activities
I am excited to lead the company into the next phase of growth. I am optimistic
about the opportunities we have to help make access to healthcare convenient
and more affordable for millions of Americans. With the evolving challenges in
healthcare delivery and management, I look forward to working with our talented
executive leadership team to foster growth and innovation at GoodRx and within
the industry. We believe that we have a tremendous opportunity to free Americans
from friction in getting medication. I   m confident in our ability to deliver growth
and contribute to shareholder value creation, all while providing enhanced value
to consumers, healthcare professionals, and the broader pharmacy ecosystem.
Thank you for your support.
Wendy Barnes
Chief Executive Officer and President, GoodRx
6
Adjusted EBITDA and Adjusted EBITDA Margin are non-GAAP financial measures and presented for supplemental informational purposes only. Please see    Key Financial and Operating Metrics --Non-GAAP Financial
Measures    included in Part II, Item 7 of our Annual Report on Form 10-K included herewith for definitions, additional information and reconcilitions to the most directly comparable GAAP measures. In addition, see    Appendix:
Quarterly Non-GAAP Financial Measures    section towards the end of this report for reconciliations of quarterly GAAP to non-GAAP measures.



 4/23/2025 Letter Continued (Full PDF)