GoodRx Holdings, Inc. (GDRX) shares tumbled 5.07% in after-hours trading on Wednesday following the release of its second-quarter earnings report, which fell short of analysts' expectations. The healthcare technology company, known for its prescription drug price comparison platform, disappointed investors with both its bottom and top-line results.
According to the earnings release, GoodRx reported adjusted earnings per share (EPS) of $0.09, missing the consensus estimate of $0.10. Revenue for the quarter came in at $203.070 million, also falling short of the expected $205.889 million. This underperformance in both earnings and sales likely triggered the sharp sell-off in the stock during extended trading hours.
Despite the disappointing Q2 results, GoodRx provided some optimistic forward guidance. The company expects its full-year revenue to increase from 2024 levels, suggesting potential growth opportunities ahead. However, investors should note that the company anticipates Q3 revenue to be lower than Q4, indicating some near-term challenges. The mixed outlook, combined with the earnings miss, appears to have left investors cautious about the company's immediate prospects, contributing to the after-hours stock plunge.