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GoodRx
GoodRx
from Wikipedia

GoodRx Holdings, Inc., is an American healthcare company that operates a telemedicine platform and free-to-use website and mobile app that track prescription drug prices in the United States and provide drug coupons for discounts on medications.[3] GoodRx checks drug prices at more than seventy-five thousand pharmacies in the United States.[4][5] The platform allows individuals to consult with a doctor online and obtain a prescription for certain types of medications at a cost of US$20, regardless of insurance status.[3] Medical testing services, which vary in price, are also offered through the platform.[3]

Key Information

In 2017, the website received about fourteen million visitors a month.[6] As of February 25, 2020, "millions of people" had downloaded the GoodRx app.[7]

History

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Financial Performance

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GoodRx was founded in Santa Monica, California, in 2011. GoodRx experienced substantial growth in net income in 2017 ($9 million), 2018 ($44 million) and 2019 ($66 million) while a loss of $293.6 million in 2020 due to IPO-related expenses.[8] During these years it expanded its services to include telehealth, and became a publicly traded company.

GoodRx generated $745.4 million in revenue for the full year 2021, a 35.36% increase over 2020. GoodRx's stock price trended downward during the first half of 2021, with shares falling 10.7%.[9] It has been attributed to Amazon's entry into the online pharmacy market and a significant deceleration in GoodRx's user growth.[10]

GoodRx reported full-year revenue of $766.6 million, with adjusted EBITDA reaching $213.5 million, exceeding guidance in the fourth quarter.[11] GoodRx reported that 41% of prescriptions filled using its coupons were newly adherent, meaning they would not have been filled without the service.[12]

GoodRx reported a full-year 2023 revenue of $750.3 million, a decrease of 2.1% from 2022. However, its fourth-quarter revenue increased by 7% year-over-year, showing a positive shift in its financial trajectory. GoodRx achieved an Adjusted EBITDA of $217.4 million for the year and an Adjusted EBITDA Margin of 28.6%.[13]

In 2024, GoodRx achieved 6% revenue growth with $792.3 million for the full year and turned a net loss into a positive net income of $16.4 million. The company also demonstrated strong operational efficiency, with a 32.8% increase in full-year Adjusted EBITDA.[14]

In Q2 2025, GoodRx reported revenue of $203.1 million, a 1.2% increase from the previous year, and a net income of $12.8 million, a significant 92% jump, which resulted in a 6.3% net income margin. However, prescription transaction revenue declined by 3% due to a decrease in monthly active consumers, but this was offset by strong 32% growth in its Pharma Manufacturer Solutions business. GoodRx also saw a 7% decrease in subscription revenue.[15]

Mergers and Acquisitions

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In 2017, the company announced partnerships with major pharmaceutical companies to negotiate lower prescription drug costs.[6][16]

In 2019, GoodRx acquired HeyDoctor, a telemedicine company, to integrate virtual healthcare services into the platform.[17]

In 2021, a health video content producer, HealthiNation was acquired by GoodRx that helped provide consumers with health information and offers pharmaceutical manufacturers new ways to reach relevant audiences.[18][19]

In April 2022, GoodRx acquired VitaCare Prescription Services from TherapeuticsMD to strengthen its pharma manufacturer solutions business.[20]

Partnerships

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GoodRx has deep relationships with major pharmacy chains, including Walgreens, Walmart, CVS Caremark, and Publix, to allow customers to use GoodRx discounts and Gold benefits.[21] GoodRx began its partnership with CVS Caremark in July 2023 to automatically apply coupons to insured CVS customers purchasing generic prescriptions at certain locations.[22] In April 2024, GoodRx added Publix into their network, allowing GoodRx Gold members to use their cards at Publix Pharmacies. [23]

GoodRx partners with Pharmacy Benefit Management like Caremark, Express Scripts, and MedImpact to apply their savings directly to eligible insurance plans and members.[24]

GoodRx collaborates with drug companies, such as Novo Nordisk, to make certain medications more affordable for self-paying patients.[25]

GoodRx partners with companies like Affirm, Benefitfocus, and DoorDash to integrate their services that offers members discounts and financial flexibility for prescriptions.[26]

GoodRx also partners with organizations like the American Academy of Family Physicians Foundation to support broader access to care.[27]

In October 2022, GoodRx launched Provider Mode which allows healthcare providers to use the app to compare costs of drugs for patients based on different payment methods and drug alternatives.[28]

Key people

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The Santa Monica-based startup was founded in September 2011 by Trevor Bezdek and former Facebook executives Doug Hirsch and Scott Marlette.[4][29][30][31] Marlette was one of the first 20 employees at Facebook and built Facebook's photo application.[29] In 2005, Hirsch was the Vice President of Product at Facebook, working closely with Mark Zuckerberg.[30]

Controversy

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On February 25, 2020, Consumer Reports published an article stating that GoodRx shared user data—specifically, pseudonymized advertising ID numbers that companies use to track the behavior of web users across websites, the names of the drugs that users browsed, and the pharmacies where user sought to fill prescriptions—with Google, Facebook, and around twenty other Internet-based companies.[7] A few days later, GoodRx released a statement claiming it had made changes to prevent user search data on medical conditions and pharmaceuticals from being shared with Facebook.[32][33] In March 2020, GoodRx stopped sending data about user prescriptions to Facebook.[34]

On February 1, 2023, the Federal Trade Commission fined GoodRx US$1.5 million for violations of the Breach Notification Rule and the Federal Trade Commission Act for allegedly failing to obtain specific, informed, and unambiguous consent from users before disclosing health-related information[35] to Facebook and Google.[36][37]

In November 2024, independent pharmacies filed at least three class action lawsuits against GoodRx and major pharmacy benefit managers. The cases, brought by independent pharmacies in California, Michigan, Pennsylvania, and Rhode Island, allege that GoodRx and the PBMs collaborated to suppress reimbursements for generic prescription drugs.[38] It alleges that agreements using GoodRx’s software suppressed reimbursements for generic drugs and violated the Sherman Antitrust Act. The suits claim the practices amount to price fixing which harms small pharmacies while benefits PBMs and their affiliates. [39]

See also

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References

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Revisions and contributorsEdit on WikipediaRead on Wikipedia
from Grokipedia

GoodRx Holdings, Inc. is an American digital healthcare company founded in 2011 by Doug Hirsch, Trevor Bezdek, and Scott Marlette, headquartered in Santa Monica, California. The platform aggregates prescription drug prices from thousands of pharmacies nationwide, offering consumers free tools to compare costs and printable or digital coupons that facilitate discounts negotiated through pharmacy benefit managers (PBMs) and pharmacy purchasing groups, often achieving savings of up to 80% off retail prices. GoodRx does not prescribe medications or negotiate manufacturer prices directly but leverages existing cash-pay discounts to promote transparency in an opaque pricing system where list prices frequently exceed actual transaction costs. Since inception, the service has enabled cumulative consumer savings exceeding $30 billion on prescriptions, serving millions of monthly active users and underscoring its role in addressing affordability barriers amid rising drug costs. The company went public in 2020 via NASDAQ under the ticker GDRX, though its founders transitioned from co-CEO roles in 2023 amid operational shifts.

History

Founding and Early Development

GoodRx was founded in 2011 in , by Doug Hirsch, Trevor Bezdek, and Scott Marlette, with the aim of addressing opaque and variable pricing for prescription drugs across pharmacies. Hirsch, a technology executive with prior experience at and , co-led the initiative alongside Marlette, an early engineer who developed the platform's photo-sharing application, and Bezdek, a software entrepreneur. The founders identified a market inefficiency where consumers lacked tools to compare cash prices for medications, often paying significantly more at one pharmacy than another due to inconsistent pricing not tied to insurance negotiations. The company secured its first funding round in November 2011, enabling initial development of a digital platform that aggregated real-time prescription prices from thousands of pharmacies nationwide. GoodRx publicly launched its price comparison tool in 2012, providing users with free coupons redeemable at participating retailers to access discounted rates, bypassing traditional benefit manager complexities for uninsured or high-deductible patients. Early operations focused on building a database of -specific pricing data, sourced directly from retailers, which allowed consumers to identify savings averaging 60-80% on generic drugs compared to list prices. In its initial years, GoodRx emphasized on pricing disparities, driven by Hirsch's personal encounters with high medication costs despite employer , highlighting systemic lacks in transparency within the U.S. healthcare . The platform grew organically through word-of-mouth and partnerships with select pharmacies, without heavy marketing expenditures, as users shared coupons that pharmacies honored at point-of-sale. By 2013, the service covered over 70,000 pharmacies, establishing a foundation for scalability while maintaining a free-to-use model for consumers, with revenue derived from pharmacy affiliation fees.

Expansion and Acquisitions

In 2020, prior to its , GoodRx acquired Scriptcycle, LLC, on August 31 for approximately $60.1 million in cash at closing, with up to an additional $3 million contingent on performance milestones. Scriptcycle specialized in managing prescription discount card programs for retail chains, enabling GoodRx to integrate these capabilities and expand its network effects in discount distribution. Following its September 2020 IPO, GoodRx accelerated expansion through targeted acquisitions to diversify beyond core coupon services into manufacturer solutions, data exchange, and pharmacy benefits. On April 16, 2021, it acquired HealthiNation, Inc., for $75 million in cash, incorporating the company's video content to enhance and support pharmaceutical manufacturer co-pay assistance programs. This move aimed to improve adherence and outcomes by providing accessible health information alongside savings tools. In July 2021, GoodRx purchased substantially all assets of RxNXT LLC for $14.5 million in cash, acquiring a claims processing and technology platform. The RxNXT integration facilitated real-time data exchange with payers, enabling launches such as the 2022 Price Assure collaboration with Cigna's to guarantee prescription pricing. GoodRx's largest acquisition occurred in 2022 with VitaCare Prescription Services, finalized on April 14 for $150 million in cash plus up to $7 million in contingent consideration based on post-closing performance. VitaCare, a tech-enabled services provider previously owned by TherapeuticsMD, bolstered GoodRx's manufacturer solutions by streamlining drug access, copay processing, and support services. These acquisitions collectively expanded GoodRx's revenue streams from transactional coupons toward subscription models, , and direct pharmaceutical partnerships, contributing to scaled operations across thousands of pharmacies while integrating advanced data and fulfillment technologies.

Initial Public Offering and Post-IPO Growth

GoodRx completed its on September 23, 2020, pricing 34,615,384 shares of Class A at $33 per share and raising approximately $1.1 billion before underwriting discounts. The offering was upsized from an initial expected range of $24 to $28 per share due to strong investor demand. Shares began trading on the Global Select Market under the GDRX. In its market debut, GoodRx shares opened at $46, a 39% premium to the IPO price, and climbed to an intraday high of $49.57, reflecting robust initial enthusiasm for the company's prescription discount platform amid growing consumer interest in healthcare cost savings. The company, which had achieved profitability annually since , leveraged IPO proceeds to support expansion in services and partnerships. Post-IPO, GoodRx sustained growth, with annual figures rising from around $550 million in 2020 to approximately $792 million by 2024, though the pace decelerated to low single digits in recent years. For instance, full-year 2024 increased 5.6% year-over-year, driven partly by a 7% rise in monthly active consumers and growth in pharma manufacturer solutions , which surged 32% in Q2 2025 to $35 million. Despite operational profitability, including $12.8 million in for Q2 2025, the stock price declined sharply from its post-IPO peak, closing at $3.86 on October 23, 2025, amid broader market pressures and slower growth expectations.

Recent Developments (2023–2026)

In 2023, GoodRx reported full-year revenue of $750.3 million and adjusted revenue of $760.3 million, alongside a net loss of $8.9 million, reflecting ongoing challenges in the post-IPO landscape including competition from pharmacy benefit managers (PBMs) and regulatory scrutiny on drug pricing. The company announced preliminary fourth-quarter 2023 results in January 2024, signaling modest growth amid efforts to expand partnerships with PBMs, which analysts described as "game-changing" for creating new revenue streams potentially worth $1.6 billion. By 2024, GoodRx achieved full-year revenue of $792.3 million, a 5.6% increase from 2023, and swung to a of $16.4 million, demonstrating improved profitability through cost controls and diversified services. Fourth-quarter 2024 revenue reached $198.6 million with of $6.7 million, aligning with guidance and underscoring resilience in consumer savings amid rising prescription costs. In early 2025, the company appointed Wendy Barnes as CEO, who emphasized GoodRx's role in addressing U.S. drug pricing gaps during the Healthcare Conference. Key strategic moves included the January 13, 2025, acquisition of substantially all assets and assembled workforce from VCRx, a prescription savings owned by Vivid Clear Rx, to bolster GoodRx's discount offerings. In August 2025, GoodRx formed a partnership with to reshape diabetes drug pricing and market access, enabling more competitive offers for insulins and related therapies. October 2025 saw an expanded collaboration with , launching RxSmartSaver to provide GoodRx discounts on branded drugs at approximately 2,200 Kroger pharmacies, enhancing accessibility for consumers facing high list prices. These initiatives drove stock gains, including a surge following reports of potential alignment with Trump administration drug pricing proposals, which materialized in early 2026 with the launch of , where GoodRx serves as a core technology partner powering pricing for leading brand medications on the platform. GoodRx also introduced consumer-focused products, such as a subscription service for treatments in 2024, aimed at simplifying access and reducing barriers, alongside a branding campaign dubbed "The Savings Wrangler" to highlight prescription . By mid-2025, nearly 30 million unique consumers utilized the platform, generating about $17 billion in savings, per company metrics.

Business Model and Operations

Core Revenue Mechanisms

GoodRx's primary revenue source is prescription transactions, which generated $143.1 million in the second quarter of 2025, representing approximately 70% of total quarterly revenue of $203.1 million. This stream arises from fees paid by pharmacy benefit managers (PBMs) to GoodRx upon successful redemption of digital at participating . When a presents a GoodRx for a cash-pay prescription, the bills the partnered PBM at a negotiated discounted rate rather than the full ; the PBM reimburses the and shares a commission with GoodRx based on the transaction volume and savings facilitated, typically capturing a portion of administrative or dispensing fees without GoodRx handling drugs or claims directly. For full-year 2024, prescription transactions yielded $577.5 million, up 5% from the prior year, driven by increased monthly active . Subscription services, such as GoodRx Gold, provide a secondary revenue mechanism, contributing $20.5 million in Q2 2025, or about 10% of total revenue, though this declined 7% year-over-year due to fewer subscribers. These plans charge users a monthly or annual fee—typically $9.99 for individuals or $19.99 for families—for access to enhanced discounts beyond standard coupons, often averaging deeper savings of up to 88% on retail prices for members in 2024. is recognized ratably over the subscription period, with GoodRx retaining the fees after any partnered PBM adjustments. Remaining revenue, encompassing roughly 20% in recent quarters, derives from telehealth consultations via acquired platforms like Lemonaid Health and limited from pharmaceutical manufacturers promoting branded drugs on the GoodRx platform. fees are charged directly to consumers for virtual visits and prescriptions, while ad revenue involves payments for sponsored placements that drive usage without altering core discount mechanics. Overall, this diversified model relies heavily on high transaction volume, with GoodRx earning no revenue from non-redeemed coupons or uninsured claims.

Pricing Transparency and Coupon System

GoodRx enhances pricing transparency in the U.S. market by aggregating and publicly displaying cash-pay prices from over 70,000 nationwide, enabling users to compare costs across locations for specific medications in real time. This addresses the inherent opacity of pricing, where list prices (usual and customary charges) often exceed actual transaction prices due to negotiated discounts, rebates, and varying rates. Users access these prices via the GoodRx or app without requiring insurance, revealing variations that can differ by up to several hundred dollars for the same drug at nearby . The system operates as a digital mechanism, where users select the lowest available price for a and generate a free —either printable, via email/text, or through the —which is presented at the counter. These route the transaction as a cash-pay claim through pharmacy benefit manager (PBM) networks partnered with GoodRx, such as , applying pre-negotiated discounts that reduce the effective price below the pharmacy's standard list rate. Pharmacies reimburse at the discounted rate and pay a processing fee to the PBM, a portion of which (typically around 15% of the total prescription cost) is retained by GoodRx as revenue, while the rest passes to the consumer as savings. cannot be combined with insurance or Medicare if the cash price is lower, ensuring users opt for the most economical option, though this excludes insured copay accumulations. Empirical data indicate substantial average savings through this : as of 2021, GoodRx coupons delivered an average 82% reduction off list prices for depression treatments and 70% for anxiety medications, with overall platform savings exceeding $65 billion cumulatively by 2024. In 2022, healthcare providers using GoodRx for patients achieved average per-provider savings of over $9,000 annually. However, these discounts derive from PBM-negotiated networks rather than direct manufacturer revelations, meaning the retail-level variability but does not expose upstream wholesale acquisition costs or rebate structures, which remain . Critics argue that while GoodRx fosters consumer-level transparency and point-of-sale competition, it reinforces systemic flaws by relying on inflated list prices as a baseline—pharmacies initially charge full usual and customary rates before applying the discount, allowing PBMs and GoodRx to capture spreads without addressing root causes like high manufacturer list pricing or opaque rebate flows. Independent pharmacies have reported reimbursement margins as low as 40-50% below acquisition costs for some generics via these coupons, potentially straining smaller operators and incentivizing steering toward chain pharmacies with better network terms. As of June 2025, GoodRx began allowing direct contracts with independent pharmacies to mitigate this, bypassing some PBM dependencies. Nonetheless, the model has demonstrably lowered out-of-pocket costs for uninsured or underinsured patients, with list prices rising 37% since 2014 despite these interventions.

Partnerships with Pharmacies and PBMs

GoodRx maintains a network of over 70,000 retail pharmacy locations across the where its prescription discount coupons are accepted, encompassing major chains such as , Walgreens, Walmart, Kroger Pharmacy, and . These partnerships enable consumers to redeem GoodRx prices at the point of sale, with reimbursement rates negotiated between pharmacies or pharmacy purchasing groups and pharmacy benefit managers (PBMs), which GoodRx then aggregates and displays without directly setting prices. In addition to broad network participation, GoodRx has pursued direct contracting with select pharmacy chains to customize pricing and reimbursement models, including agreements with , CVS, and regional players like , which as of October 2024 supports pay-over-time options for prescriptions. A notable expansion occurred on June 9, 2025, with the launch of Community Link, a program allowing independent pharmacies to contract directly with GoodRx, bypassing traditional intermediaries to access over 90 brand medication deals and participate in its Integrated Savings Program, aimed at boosting claims volume and margins for smaller operators. Specific collaborations extend to pharmaceutical manufacturers routed through pharmacies, such as an August 18, 2025, agreement with enabling self-pay access to Ozempic and Wegovy pens for $499 per month at participating retail locations, and an October 1, 2025, expansion with Kroger's RxSmartSaver program for branded drug discounts at nearly 2,200 stores. Regarding PBMs, GoodRx relies on partnerships to source discounted pricing data, contracting with PBM networks to facilitate reimbursements while designing pharmacy-specific agreements that may involve a single PBM for targeted volume growth. Key examples include its role as the exclusive partner for ' Price Assure program starting in 2023, which provides guaranteed pricing, and a September 13, 2023, initiative with MedImpact to expand access for certain insured lives. These arrangements have faced , with independent pharmacies filing class-action lawsuits in November 2024 and January 2025 alleging that GoodRx, alongside PBM partners, used software and agreements to suppress reimbursements and fix prices, harming smaller competitors' profitability; the claims remain unproven and contested.

Products and Services

Prescription Price Comparison and Discounts

GoodRx's prescription price comparison service aggregates cash prices for medications across approximately 70,000 U.S. pharmacies, enabling users to identify the lowest available rates at nearby locations before purchasing. Users search for a specific on the GoodRx or , enter their ZIP code, and receive a list of prices from chains such as CVS, , and , as well as independent pharmacies, sorted by cost. This transparency reveals variations in pricing that can differ significantly by location and pharmacy, often exceeding those offered by insurance copays for uninsured or high-deductible patients. Discounts are facilitated through free digital or printable coupons that apply negotiated rates, typically reducing the cash price by 70% to 80% compared to standard retail costs without insurance. These coupons derive from contracts between pharmacies (or their purchasing groups) and pharmacy benefit managers (PBMs), with GoodRx partnering with multiple PBMs to access and display the lowest applicable rates across networks. For instance, a medication with a list price of $300 might drop to $250–$280 using a GoodRx coupon, depending on the pharmacy and PBM involved. The service emphasizes cash-pay options, which users can compare against their insurance out-of-pocket costs, but coupons generally cannot be combined with insurance, Medicare Part D, or Medicaid. As of 2023, GoodRx coupons have enabled average savings of 82% off retail prices for filled prescriptions, contributing to over $65 billion in cumulative consumer savings since inception. Approximately 50% of the 100 most-purchased prescriptions using GoodRx in 2023 were cheaper than their lowest generic copay equivalents. Partnerships with PBMs like provide exclusive access for certain beneficiaries, while a June 9, 2025, initiative called Community Link allows independent pharmacies to contract directly with GoodRx, bypassing some PBM intermediaries to offer competitive pricing and reimbursements. Key user features include price alerts for fluctuations, medication reminders, and integration with for e-prescriptions routed to low-cost pharmacies. However, acceptance depends on pharmacy participation in the underlying PBM networks, and some generics may yield minimal additional savings beyond standard cash pricing. While effective for uninsured individuals—43% of whom used discount programs like GoodRx in 2025 surveys—the model relies on opaque PBM pricing dynamics, which have drawn scrutiny for potentially suppressing independent pharmacy reimbursements in favor of chain networks.

Telehealth and Additional Healthcare Tools

GoodRx entered the market through its acquisition of HeyDoctor, a telemedicine provider, on September 27, 2019, enabling virtual consultations starting at $20 for conditions such as , , and urinary tract infections. On September 26, 2019, the company launched GoodRx Care, offering online visits with U.S.-licensed, board-certified providers for treatments, prescriptions, and related services without requiring , with costs beginning at $19 per visit. This service integrates prescription discounts, allowing up to 80% savings on medications sent directly to pharmacies, and covers common issues like urinary tract infections and . In March 2020, GoodRx introduced a marketplace available in all 50 states, partnering with over 10 providers to facilitate price comparisons and virtual care amid rising demand during the . The service expanded nationwide via HeyDoctor by GoodRx in July 2020, responding to increased need for affordable remote healthcare. By December 2020, was incorporated into the GoodRx Gold subscription program, reducing visit costs to as low as $10 for subscribers, alongside free mail delivery for select medications. Beyond , GoodRx has developed tools targeted at healthcare providers and patients to enhance prescription affordability and management. In September 2021, the company launched GoodRx Health, an online platform expanding access to health resources and services. Provider Mode, introduced in October 2022, equips physicians with features like drug price comparisons across classes, customizable savings tools for patients, and integration for texting or printing coupons during visits. A key addition in August 2023 was the real-time benefit check within Provider Mode, enabling professionals to view patients' out-of-pocket costs under , cash prices, and manufacturer discounts in a single interface, distinguishing it from competitors. These tools aim to support cost-effective prescribing without altering clinical decisions.

Mobile App and User Features

The GoodRx mobile application, available for free on both iOS and Android platforms, enables users to compare prescription drug prices across over 70,000 pharmacies in real-time, apply digital discount coupons at the point of purchase, and access savings without requiring insurance. The app has received average user ratings of 4.8 stars on the Google Play Store from over 328,000 reviews and on the Apple App Store from approximately 683,000 reviews as of late 2025. Core user features include the Medicine Cabinet tool, which allows storage and management of personal medication lists, pill tracking, and refill reminders to promote adherence. Users can prescription labels for quick reference, search by name or condition, and receive notifications for changes or alternative generics offering lower costs. The app integrates functionalities, facilitating virtual doctor consultations and same-day prescription refills through partnered providers. Additional conveniences encompass a rewards program where users earn points redeemable for gift cards by uploading receipts or consistent app engagement, alongside educational resources like checkers and dosage guides. Location-based searches prioritize nearby options with the lowest prices after discounts, and the app supports cash-pay transactions exclusively, bypassing complexities. features include HIPAA-compliant handling for stored information.

Financial Performance

Pre-IPO Financials

GoodRx exhibited robust revenue growth in the years preceding its on September 23, 2020. Revenue expanded from $99.4 million in 2016 to $388.2 million in 2019, reflecting a of 57%. This trajectory continued into 2020, with revenue for the six months ended June 30, 2020, reaching $256.7 million, a 48% increase from $173.2 million in the comparable 2019 period. The company's financial performance underscored consistent profitability, a rarity among pre-IPO platforms reliant on and transaction-based models. rose from $28.8 million in 2017 to $43.8 million in 2018 and $66.0 million in 2019. For the first half of 2020, climbed to $54.7 million from $31.2 million in the prior year. High gross margins, exceeding 96% annually through 2019, stemmed primarily from low tied to the coupon-based prescription savings model, where pharma manufacturer payments formed the bulk of income.
Fiscal Year Ended December 31Revenue ($ millions)Gross Profit ($ millions)Operating Income ($ millions)Net Income ($ millions)
2017157.2154.250.328.8
2018249.5243.577.343.8
2019388.2374.2139.766.0
Operating expenses, driven by sales and marketing investments to acquire users, scaled with revenue but yielded expanding margins; for instance, operating income margin improved to approximately 36% in 2019 from 32% in 2017. This financial profile, detailed in the S-1 registration statement, highlighted GoodRx's ability to monetize traffic from its price comparison platform through pharma promotions and pharmacy partnerships without incurring losses.

IPO and Stock Market Trajectory

GoodRx Holdings, Inc. completed its (IPO) on September 23, 2020, pricing 34.6 million shares of Class A at $33 per share, above the initial expected range of $24 to $28. The offering raised approximately $1.14 billion before underwriting discounts, listing on the Global Select Market under the GDRX. Shares debuted strongly, opening at $46 and closing the first trading day at $50.50, a 53% gain from the IPO price and valuing the company at about $19.4 billion. The stock reached an all-time high closing price of $57.16 on October 6, 2020, reflecting initial market enthusiasm for GoodRx's digital prescription savings platform amid rising healthcare cost concerns. Post-IPO, the stock experienced a prolonged decline, dropping over 90% from its peak by mid-2022 amid slowing growth and competitive pressures in the pharmacy benefits sector. By August 2025, shares hit a record low of $3.31, influenced by modest quarterly increases—such as $203.1 million in Q2 2025, up just 1.2% year-over-year—and persistent negative returns on invested capital averaging -19.4% over five years. As of October 24, 2025, GoodRx shares closed at $3.95, trading at a fraction of their IPO valuation with a around $1.5 billion, underscoring challenges in sustaining early growth momentum despite ongoing consumer adoption of discount services.

Quarterly Results and Key Metrics (2020–2025)

GoodRx's quarterly financial performance from 2020 onward reflected initial post-IPO growth driven by expanded consumer adoption and partnerships, followed by stagnation and modest recovery amid shifts in dynamics and from benefit managers (PBMs). In the year of its September 2020 IPO, full-year totaled $550.7 million, with net losses of $293.6 million primarily due to stock-based compensation and one-time costs. Quarterly data for Q3 and Q4 2020 showed revenues of approximately $145 million and $182 million, respectively, underscoring acceleration from pre-IPO levels. Revenue expanded sharply in 2021, reaching an annual $745.4 million, supported by a 36% year-over-year increase in monthly active consumers (MACs) to over 7.5 million by mid-year and higher prescription transactions volume. losses narrowed to $25.3 million annually, with positive adjusted EBITDA emerging in later quarters as operating leverage improved. By 2022, annual peaked at $766.6 million, but quarterly growth slowed, with prescription transactions —comprising the bulk of —facing pressure from PBM changes that reduced redemptions at certain pharmacies. losses persisted at $32.8 million for the year. In 2023, revenue dipped to $750.3 million annually, with quarterly figures reflecting a 2-3% decline in MACs and prescription transactions amid broader industry rebate retention by PBMs, which eroded discount viability for some generics. Net loss improved to $8.9 million, aided by cost controls and growth in subscription and manufacturer solutions revenue streams. Recovery materialized in 2024, with annual revenue of $792.3 million, including a 5% rise in prescription transactions revenue to $577.5 million, fueled by a 7% organic increase in MACs and targeted partnerships. Quarterly net income turned positive, culminating in a full-year profit of $16.4 million. Adjusted EBITDA margins expanded to around 20-25% in later quarters, reflecting efficiency gains. Entering 2025, Q1 rose 3% year-over-year to $203.0 million, with prescription transactions up 2% and of $11.1 million (5.4% margin), alongside adjusted EBITDA of $69.8 million (34.4% margin). MACs remained stable in the mid-single-digit millions. Q2 edged up 1% to $203.1 million, but missed analyst expectations; reached $12.8 million (6.3% margin), while prescription transactions fell 3% to $143.1 million due to a 14% drop in monthly active subscribers and softer utilization. MACs totaled 5.7 million at quarter-end, indicating ongoing base contraction from pandemic-era peaks. Guidance for full-year 2025 was set at $810-840 million, implying low-single-digit growth reliant on pharma manufacturer solutions expansion.
QuarterRevenue ($M)Net Income ($M)Prescription Transactions Revenue ($M)MACs (millions)
Q1 2025203.011.1~150 (est. up 2% YoY)~6
Q2 2025203.112.8143.15.7
Key metrics such as prescription transactions facilitated (core to , as GoodRx earns fees per redemption) declined post-2022 peaks, with annual volumes supporting $550.7 million in 2023 before rebounding modestly. MACs, defined as unique users redeeming codes in at least two months per quarter, peaked above 20 million during but stabilized lower by 2025, highlighting dependency on discount sensitivity amid rising list prices. Adjusted EBITDA consistently outpaced GAAP , providing a profitability gauge less affected by non-cash items, with margins improving from negative in to mid-30% in recent quarters through subscription growth (e.g., GoodRx Gold) and pharma solutions.

Leadership and Key Personnel

Founders and Early Leadership

GoodRx was founded in September 2011 by Doug Hirsch, Trevor Bezdek, and Scott Marlette, with the aim of increasing transparency in pricing amid opaque and often exorbitantly high costs at pharmacies. The impetus stemmed from Hirsch's personal encounter in 2010, when he faced unexpectedly high out-of-pocket costs for a prescription despite having , prompting him to research price variations across pharmacies and develop the platform's core comparison tool. All three founders brought technology backgrounds: Hirsch had been an early employee at Yahoo (one of the first 30 hires) and , focusing on product development and ; Marlette was also an early engineer; and Bezdek had co-founded Biowire, a company, and served as managing partner at Tryarc, LLC, a venture firm. In the company's initial years, Hirsch and Bezdek assumed primary leadership roles, with Hirsch serving as CEO from inception and later transitioning to co-CEO alongside Bezdek as the business scaled. Marlette contributed to and product foundations but shifted focus post-founding. The trio bootstrapped operations from , leveraging their tech expertise to aggregate data and negotiate discount codes without direct pharmaceutical funding, enabling rapid user growth to millions by through free price comparisons and printable coupons. Early funding rounds, starting in with $10 million from investors like , supported expansion under the founders' direction, emphasizing consumer empowerment over traditional benefit manager models. Bezdek, as co-founder and eventual board chairman, focused on strategic oversight and partnerships, drawing from his venture experience to secure key deals with retailers like and CVS, while Hirsch drove mission-oriented product innovations, such as mobile app integration by 2015. This founder-led structure persisted through GoodRx's pre-IPO phase, with Hirsch and Bezdek maintaining co-CEO titles until April 2023, when they stepped down amid performance pressures, transitioning to roles like Chief Mission Officer for Hirsch. Their early emphasis on data-driven price transparency, validated by partnerships yielding average savings of 70-80% on generics, positioned GoodRx as a disruptor in a market dominated by less consumer-facing intermediaries.

Current Executive Team

As of October 2025, GoodRx's executive team is led by Wendy Barnes, who has served as President and since January 1, 2025. Barnes brings over 30 years of experience in and medical benefits management, including prior roles as CEO of RxBenefits (2022–2024) and President of , overseeing services for over 100 million beneficiaries. Other key C-level executives include Chris McGinnis, Chief Financial Officer since February 2025, with more than 30 years in healthcare finance, previously as CEO of CitizensRx (2021–2024) and in senior roles at Lumeris and . Nitin Shingate has been Chief Technology Officer since December 2022, focusing on technology infrastructure after positions at SingleCare and other tech firms. Vina Leite serves as Chief People Officer since February 2022, with expertise in human resources from and Inc. Gracye Cheng is since October 2019, handling legal and business development matters following experience at Skadden, Arps. Ryan Sullivan joined as in October 2024, building on prior marketing at Performics. Romin Nabiey acts as Chief Accounting Officer since April 2022, with a background in corporate controlling and auditing at firms like . Presidential roles within the executive structure encompass Laura Jensen, and President of Pharma Solutions since July 2025, leveraging 30 years in healthcare sales and business development from , UCB, and GlaxoSmithKline. Aaron Crittenden was appointed President of Rx Marketplace in March 2025, having joined GoodRx in 2020 and previously founding ReMy Health. Justin Fengler became Chief & Operations Officer in September 2025, with prior internal strategy roles at GoodRx and investment banking experience at TripleTree. These appointments reflect GoodRx's emphasis on expanding commercial partnerships, marketplace operations, and strategic growth amid evolving dynamics.
ExecutivePositionTenure at GoodRxNotable Prior Experience
Wendy BarnesPresident & CEOJanuary 2025CEO, RxBenefits; President, Pharmacy
Chris McGinnisCFOFebruary 2025CEO, CitizensRx; CFO roles at Lumeris,
Laura JensenChief Commercial Officer & President, Pharma SolutionsJuly 2025Head of Business Development, ; UCB, GSK
Aaron CrittendenPresident, Rx MarketplaceMarch 2025Founder, ReMy Health; Allscripts
Justin FenglerChief Strategy & Operations OfficerSeptember 2025, TripleTree; internal strategy at GoodRx
Nitin ShingateCTODecember 2022CTO, SingleCare; Overstock.com,
Vina LeiteChief People OfficerFebruary 2022Chief People Officer, ; Inc.
Gracye ChengGeneral CounselOctober 2019Associate, Skadden, Arps
Ryan SullivanCMOOctober 2024Senior VP Marketing, Performics
Romin NabieyChief Accounting OfficerApril 2022Auditor, ; NantWorks

Impact and Achievements

Consumer Savings and Access Improvements

GoodRx enables savings primarily through its platform of digital prescription discount coupons, which consumers present at over participating to access negotiated cash prices that often undercut retail list prices, copays, or even Medicare costs for select medications. These discounts arise from GoodRx's aggregation of pricing data and partnerships with pharmacy benefit managers (PBMs) and retailers, revealing opaque cash-pay options that bypass traditional complexities. In 2024, the average discount achieved via GoodRx was 83% off retail prescription prices, with premium GoodRx Gold subscribers averaging 88% savings. Cumulative savings have been substantial, with GoodRx reporting over $65 billion in total consumer savings on prescription drugs as of late 2023, encompassing both generic and brand-name medications. In 2024 alone, these efforts translated to approximately $17 billion in annual savings across millions of transactions, driven by increased monthly active consumers and higher utilization of the platform for everyday medications. Such reductions are particularly pronounced for high-cost drugs, where GoodRx discounts have averaged 36% off retail for treatments in recent years, enabling sustained access without reliance on manufacturer copay cards, which only reach about 7% of the population. Access improvements are evident for uninsured and underinsured populations, who face retail cash prices averaging $14.57 per prescription amid $61 billion in out-of-pocket spending as of 2024. GoodRx's model provides viable alternatives, with peer-reviewed analysis showing its discounted cash prices for generic cardiovascular medications were significantly lower than undiscounted cash options at major chains, averaging $9.88 to $21.73 per depending on type. For the uninsured, who skip prescriptions due to cost at rates exceeding insured groups per national surveys, GoodRx facilitates adherence by offering prices competitive with or below average commercial copays, thus expanding effective access without requiring insurance enrollment. Recent initiatives, such as the October 2025 partnership with to lower out-of-pocket costs for therapies and the RxSmartSaver program for instant brand-name discounts, further target barriers for cash-paying patients. These mechanisms address systemic pricing opacity, where list prices bear little relation to actual transaction costs, allowing consumers to comparison-shop in real-time via the app.

Effects on Medication Adherence and Healthcare Costs

GoodRx's prescription discounts have been associated with improved medication adherence by reducing out-of-pocket costs, enabling users to fill prescriptions they might otherwise forgo. According to GoodRx's of its internal data from 2012 to 2023, the platform facilitated 184 million additional prescriptions that users reported they could not afford without the discounts, with 41% of recent fills representing newly adherent behavior. This effect is modeled using a of 160 peer-reviewed studies, which estimates a 3.8% increase in adherence rates for every $10 reduction in cost per prescription, translating to an overall adherence improvement from 39% to over 66% for commonly purchased medications. Enhanced adherence correlates with fewer adverse health events, particularly for chronic conditions like . GoodRx's modeling, drawing from 15 peer-reviewed studies on adherence-outcome links published between 1990 and 2023, projects that its savings prevented at least 250,000 emergency room visits and hospitalizations for heart attacks and strokes since 2012, including over 140,000 ER visits and 110,000 inpatient stays. These averted events are estimated to have saved $5 billion in total healthcare system costs and $145 million in patient out-of-pocket expenses, based on data from the Medical Expenditure Panel Survey (2012–2021) and coding for cardiovascular incidents. On the cost side, GoodRx users have realized cumulative savings exceeding $65 billion on prescriptions compared to retail prices since , with average per-prescription discounts enabling 79% reductions off list prices in analyzed periods. For 55% of fills, GoodRx prices undercut typical copays by 52%, shifting spending from higher insurer reimbursements to lower cash alternatives and potentially exerting downward pressure on overall premiums by curbing non-adherence-driven utilization. These outcomes stem from GoodRx's aggregation of pharmacy-specific pricing and manufacturer coupons, though independent verification of the full causal chain remains limited to GoodRx's proprietary datasets integrated with established literature.

Industry Recognition and Broader Economic Contributions

GoodRx has received multiple industry accolades for its innovations in prescription pricing transparency and services. In 2024, the company was named to TIME magazine's list of the 100 Most Influential Companies, recognizing its role in reducing insulin costs for millions of Americans. It also earned recognition in ' 2021 America's Best Startup Employers list, ranking #81 among healthcare firms, and was included in ' 2023 list of top telemedicine companies for GoodRx Care. Additional honors include the 2023 Fierce Healthcare Innovation Award for its Insurance Savings Program, which was praised for potential to cut costs and engage patients, and U.S. News & World Report's 2025 designation of GoodRx as one of the Best Overall Companies based on analysis of 5,000 publicly traded firms. These recognitions stem from GoodRx's platform facilitating comparisons and discounts at over 70,000 pharmacies, driving competitive pressures on opaque . The company's model has prompted pharmacy benefit managers and retailers to adjust strategies, as evidenced by partnerships and integrations that expand access to lower-cost generics and cash-pay options. On broader economic fronts, GoodRx's operations have generated substantial savings, with company analyses estimating $65 billion in consumer reductions on prescriptions since through facilitated discounts averaging 70-80% off list prices. These efforts correlate with improved adherence, averting an estimated 140,000 visits and 110,000 hospitalizations since 2012 by enabling consistent access to therapies for conditions like heart attacks and strokes. System-wide, this has yielded over $5 billion in healthcare cost reductions for payers and providers, as lower out-of-pocket expenses reduce uncompensated care and boost preventive outcomes. In 2022 alone, healthcare providers using GoodRx saved patients an average of $9,000 each, contributing to billions in collective relief amid rising expenditures exceeding $600 billion annually in the U.S. Such impacts underscore GoodRx's role in countering inefficiencies without relying on government intervention, though estimates derive primarily from internal adherence and utilization patterns.

Controversies and Criticisms

Data Privacy and Sharing Practices

In February 2023, the (FTC) charged GoodRx with violating the FTC Act and the Health Breach Notification Rule by disclosing users' personal health information—including purchases and health conditions—to third-party advertisers such as , (now Meta), and from 2017 to 2020, despite public assurances that such data would not be shared for advertising purposes. The disclosures occurred through tracking technologies like website pixels embedded on GoodRx's platforms, which transmitted sensitive data to ad networks for without users' knowledge or explicit consent. GoodRx agreed to a settlement requiring a $1.5 million , implementation of a comprehensive program with biennial audits for 20 years, and restrictions prohibiting the sharing of with third parties for or other non-essential purposes. The U.S. Department of Justice filed the stipulated order in federal court on February 17, 2023, marking the FTC's first enforcement action under the Health Breach Notification Rule against a company. Critics, including advocates, highlighted the case as evidence of broader risks in health apps monetizing user data through trackers, potentially enabling or stigma based on medical histories. Subsequent litigation included a consolidated lawsuit alleging unauthorized sharing of via tracking technologies, which GoodRx settled for $25 million in December 2024, providing payments to affected users and affirming injunctive relief against future violations. Post-settlement, GoodRx updated its practices to require explicit consent for processing sensitive data and limits sharing to service provision, as outlined in its current privacy notice updated October 8, 2024. However, the incidents underscored ongoing scrutiny of prescription discount platforms' data handling, with regulators emphasizing that privacy policies must align with actual practices to avoid deceptive conduct.

Business Model Scrutiny and Pricing Opacity

GoodRx's primary derives from commissions paid by pharmacy benefit managers (PBMs), which process prescriptions filled via GoodRx coupons and receive a portion of the spread between manufacturer payments and pharmacy reimbursements. The company earns approximately 15-16% of the total prescription cost on these transactions, for about 73% of its overall as of early 2025. In practice, when a presents a GoodRx at a , the PBM reimburses the pharmacy at a negotiated rate—often below acquisition costs for generics—while retaining additional fees and directing volume to preferred networks, with GoodRx compensated for facilitating the transaction. This model has faced antitrust scrutiny, particularly through filed in late 2024 and early 2025 by independent and the National Community Pharmacists Association (NCPA), alleging GoodRx colludes with PBMs like , Cigna, and OptumRx to suppress reimbursements via proprietary algorithms that share confidential pricing data. These suits claim the arrangement constitutes illegal price-fixing, steering consumers to chain while underpaying independents by as much as 30-50% on generics, contributing to over 1,300 independent closures annually and distorting market competition. Critics, including groups, argue that GoodRx's as a PBM rate aggregator amplifies PBM rather than disrupting it, as the platform's growth—handling billions in annual prescription volume—prioritizes PBM profits over sustainable . Pricing opacity arises from the model's reliance on opaque PBM-negotiated rates and undisclosed spreads, where consumers view only the post- cash price without insight into underlying reimbursements, administrative fees, or GoodRx's commission extraction. This lack of transparency can mislead users into assuming the displayed discounts reflect the lowest possible market rate, whereas actual acquisition costs and insurer negotiations remain hidden, potentially inflating list prices to offset volumes. Independent analyses indicate that while GoodRx reduce out-of-pocket costs for uninsured or high-deductible patients—averaging 80% savings on brands—they perpetuate supply-chain complexities without revealing how PBMs allocate rebates or how GoodRx's fees impact total system expenditures. investigations into PBM practices, though not directly targeting GoodRx's , underscore broader concerns that such intermediaries obscure cost drivers, hindering true price competition. Proponents of reform argue this structure incentivizes volume over value, as GoodRx's incentives align more with transaction facilitation than with reducing wholesale drug prices.

Regulatory and Ethical Challenges

GoodRx has faced significant regulatory scrutiny through antitrust litigation initiated by independent pharmacies, alleging anticompetitive coordination with pharmacy benefit managers (PBMs) to suppress rates. In November 2024, three class-action lawsuits were filed in federal courts by independent pharmacies against GoodRx and major PBMs including , , and OptumRx, claiming that the parties used GoodRx's digital platform to share real-time confidential pricing data, enabling them to benchmark and fix reimbursements at artificially low levels—sometimes as much as 74% below market rates for certain generics. The suits further allege that GoodRx imposed transaction fees on pharmacies for processing these claims, compounding the financial harm and steering volume toward preferred networks that exclude independents. In January 2025, the National Community Pharmacists Association joined one such suit, asserting that GoodRx's "ISP program" facilitated a horizontal price-fixing conspiracy among PBMs, violating federal antitrust laws like the Sherman Act. At the state level, regulatory actions have targeted GoodRx's reimbursement practices directly. In April 2025, obtained a temporary against GoodRx and its affiliates, prohibiting them from enforcing reimbursement terms deemed unfairly low for pharmacies filling prescriptions via GoodRx coupons, amid claims of that threatened pharmacy solvency. This action reflects broader state-level concerns over discount card aggregators' role in PBM ecosystems, where cash-pay discounts to consumers are subsidized by below-cost reimbursements to providers, potentially violating state unfair practices statutes. Ethically, GoodRx's aggregation model has drawn criticism for exacerbating market imbalances that favor large chains over independent pharmacies, which comprise about % of U.S. outlets but serve disproportionate rural and underserved populations. Independent pharmacy advocates argue that suppressed reimbursements contribute to widespread closures—over 1,000 independents shuttered annually in recent years—raising questions about the long-term sustainability of local access to medications and the of platforms profiting from volume while eroding provider networks. Proponents counter that consumer savings justify the efficiencies, but detractors, including associations, contend this prioritizes short-term patient discounts over systemic equity, potentially increasing healthcare consolidation and reducing . These debates underscore tensions in digital intermediaries' influence on pharmaceutical supply chains, where cost-shifting mechanisms may inadvertently harm smaller stakeholders without transparent offsets.

References

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