Prescription savings platform GoodRx Holdings Inc. ( GDRX )  reported second-quarter revenue of $200.61 million, up 6% year over year, almost in line with the consensus of $200.4 million.

Prescription transactions revenue increased 7% to $146.7 million, primarily driven by an 8% increase in Monthly Active Consumers, principally from organic growth, including the expansion of the integrated savings program.

Subscription revenue decreased 8% to $22.0 million, primarily driven by a decrease in subscription plans due to the sunset of the company’s partnership subscription program, Kroger Savings Club.

The company reported adjusted EPS of 8 cents, slightly above the 7 cents reported a year ago but missing the consensus of 9 cents.

“While the retail pharmacy space is experiencing a bit of choppiness, we believe GoodRx’s value proposition of providing affordable access to medications has never been more important and we are creating ways to enrich that value proposition both for healthcare ecosystem partners and, most importantly, for our consumers,” said Scott Wagner, Interim CEO of GoodRx.

Monthly Active Consumers stood at 6.6 million, compared to 6.1 million a year ago.

Subscription plans fell from 969,000 to 696,000 in the second quarter of 2024.

The company exited the second quarter of 2024 with over 7 million prescription-related consumers who used GoodRx ( GDRX ) across prescription transactions and subscription offerings.

Guidance: GoodRx ( GDRX ) expects fiscal year 2024 revenue outlook at the lower end of the previous range of $800 million-$810 million versus the consensus of $806.38 million.

The company forecasts third-quarter revenue of $193 million to $197 million versus a consensus of $202.4 million, with an adjusted EBITDA Margin of about 32%.

“The full-year guidance includes approximately $5 million of anticipated impact from Rite Aid’s store closures. For the full year, we expect over $255 million of Adjusted EBITDA, up about 17% from 2023,” said Karsten Voermann, CFO.

Price Action: GDRX stock is down 21.1% at $6.79 at last check Thursday.

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