Healthcare tech company GoodRx (NASDAQ: GDRX) will be reporting results this Wednesday after the bell. Here’s what investors should know.
GoodRx beat analysts’ revenue expectations last quarter, reporting revenues of $194 million, down 4.4% year on year. It was a strong quarter for the company, with full-year revenue guidance slightly topping analysts’ expectations.
Is GoodRx a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting GoodRx’s revenue to decline 4.7% year on year, a reversal from the 1.2% increase it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. GoodRx has missed Wall Street’s revenue estimates multiple times over the last two years.
Looking at GoodRx’s peers in the healthcare technology segment, only Omnicell has reported results so far. It exceeded analysts’ revenue estimates, delivering year-on-year sales growth of 7.4%. The stock was down 14.6% on the results.
Read our full analysis of Omnicell’s earnings results here.Investors in the healthcare technology segment have had steady hands going into earnings, with share prices up 1.9% on average over the last month. GoodRx is up 2.4% during the same time and is heading into earnings with an average analyst price target of $3.21 (compared to the current share price of $3.16).
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