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BusinessGoodRx's subscription programs now have over 1 million subscribers, co-CEO says

GoodRx’s subscription programs now have over 1 million subscribers, co-CEO says

GoodRx co-CEO Doug Hirsch on Friday instructed CNBC’s Jim Cramer the corporate has amassed greater than a million subscribers throughout its subscription choices, whereas expressing confidence about future progress for the programs.

GoodRx, which gives prescription drug coupons to prospects, has two subscription programs: the four-year-old GoodRx Gold and the Kroger Rx Savings Club, which was developed in partnership with the grocery store and launched in 2018.

“It’s great. We have over a million subscribers to GoodRx Gold and the Kroger Rx Savings Club,” Hirsch mentioned in an interview on “Mad Money.”

(*1*) Hirsch added. The government, who co-founded the corporate, famous the Gold program has expanded to additionally embody discounted telehealth companies and a mail-order pharmacy.

GoodRx Gold prices $5.99 monthly for one particular person, or $9.99 for a household, and it guarantees to ship subscribers up to 90% discounts on prescriptions.

In its most-recent quarter, GoodRx reported subscription revenues of $14.3 million, up 125% on a year-over-year foundation. “We’re really proud of the momentum there. It continues to be one of the fastest growing parts of our business,” Hirsch mentioned.

The firm’s general second-quarter income was $176.6 million, up 43% in contrast with the identical interval in 2020. Net revenue got here in at $31.1 million.

Shares of GoodRx fell greater than 4% Friday to shut at $44.13 apiece. However, the inventory has been on hearth since reporting earnings Aug. 12. In the previous month alone, GoodRx shares have risen 22.48%. The S&P 500, for comparability, is down about 0.7% over that stretch.


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