GoodRx Holdings, Inc.
|Company Name||GoodRx Holdings, Inc.|
On May 9, 2022, after the market closed, GoodRx announced its first quarter 2022 financial results and withdrew its fiscal 2022 guidance. In its shareholder letter, the Company stated that “a grocery chain had taken actions that impacted acceptance of discounts from most PBMs for a subset of drugs.” The Company expects “the grocer issue . . . could have an estimated revenue impact of roughly $30 million [and] will be ongoing without amelioration through Q2.” As a result, GoodRx “believe[s] it is unlikely [it] will be able to achieve the FY 2022 guidance” previously provided.
On this news, GoodRx’s stock fell $2.78, or 25.9%, to close at $7.97 on May 10, 2022, thereby injuring investors.
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