2024-01-10 09:34:22 ET
Goodrx ( NASDAQ: GDRX ) shares gained as much as 9% premarket on Wednesday after the healthcare savings platform issued higher-than-expected sales for the fourth quarter of 2023.
The company reported preliminary Q4 revenue in the range of $195M to $197M compared to previous outlook of $188M-$194M. The prelim figures are well above Wall Street estimates of $190.83M for the quarter.
Adjusted EBITDA margin is expected to be in the upper end of previous guidance range of mid-to-high twenty-percent.
For full year 2023, the company reported prelim revenue between $749M and $751M ( consensus : $748.57M), higher than prior outlook of $742M-$748M.
"We are encouraged by the preliminary fourth quarter results and the progress we continue to make against our priorities. There is exciting work underway and we expect to build on our accelerating momentum in 2024," said Karsten Voermann, chief financial officer.
GoodRx ( GDRX ) expects to report full financial results for Q4 and full year 2023 on or about February 29, 2024.
Based on preliminary estimates, the firm is also optimistic that Q1 and full year 2024 revenue will grow mid-single digit percentage year-over-year, with adjusted EBITDA margin in the high twenty-percent range for both periods.
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Goodrx stock rises on higher-than-expected Q4 preliminary results