GDRX - Earnings call transcript Q3 2020

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Operator

Ladies and gentlemen, thank you for standing by and welcome to the GoodRx Third Quarter 2020 Earnings Call.

As a reminder, today’s conference call is being recorded. I would now like to introduce your host for today’s call, Whitney Notaro, Vice President of Investor Relations. Ms. Notaro, you may begin.

Whitney Notaro

operator. you, Thank everyone. Good morning, to quarter GoodRx’s public for welcome conference earnings XXXX, our third of a the first And call call company. as

our Officers; today and Chief me Doug Co-founders Bezdek, and Joining Financial Officer. Co-Chief Karsten and are Executive Voermann, our Trevor Hirsch

implied call. our Any to this subsequent events cause the on by quarterly our XX-Q with IPO SEC statements. in filed Form the call. of I’d if do forward-looking statements management’s forward-looking such change. not as should and matters historical on views update statements achievements we relate uncertainties materially results, statements XXXX will expressed different those from the begin, achievements these that to be to management’s to are date made involve statements actual call represent disclaim this differ performance; report and or even XX, may other impact the objectives, from XX, results our goals opportunity, expected fact statements, guarantees, on and strategies, forward-looking performance could or on any of we regarding to indicated by to this plans, cause like any Before for known discussed Factors statements, made prospectus of including section considered the that of actual other Commission and forward-looking everyone estimates on And the obligation our business. remind this but Risk ended and our our materially nor market contain performance filings our September the All that XXXX; statements financial forward-looking promises final COVID-XX or and call be of statements. and with our Securities important These results, risks, September future quarter unknown factors neither anticipated cause the Factors Exchange

metric I’d in of reconciled this call like to which Investor Doug. which letter, that, investors.goodrx.com. Relations the everyone the the well. at there may that can GAAP the With also certain remind I’d company’s website on like non-GAAP our be to we to over will nearest reference also call of available as metrics, found shortly shareholder to become addition, are In page a turn replay Overview

Doug Hirsch

Thank Whitney. safe this are and for you, And I you thank you, and everyone morning. families joining well. hope your us

performing thorough to our confidence our We our thank their thank first a research. results company. their for our new and especially are GoodRx report quarterly company also as in recent public I like throughout amazing work I’d and hard want IPO. such shareholders thoughtful for analysts for to and our pleased covering all to team the

to get call, want healthcare America’s to this the and to from I then to at consumer our they I incredibly provide demystify Karsten our turn afford. drives who address highlights have guidance discuss I As help to will And affordable healthcare can else and the need results simply is helps best first trends GoodRx few people nowhere key what and build Trevor, our Then to price accessible importantly, a GoodRx most and spend Trevor Americans us business. turn. will started over industry. emphasizing call in guidance. financial perhaps to information and quarter healthcare, minutes the complex they an earnings will a platform. who

to and We We believe and healthcare can affordability stay of U.S. why which many new are restrictions. more healthcare insurance Lack complicated many, provide massive sacrifices too our pay hurdles forcing families healthcare. these costs pocket problems. causes need, healthy. in year, get expensive, confusing. is negative way afford is and For and to day. entire they uninsured can Americans us painful quality Too what Americans impacts is in across or drives of make better don’t underinsured, them This understand the a every a out care face for nation. to Every people key solve reason access the just GoodRx

I economy. be talented Election, passionate accessible by heels to the to issue to nation. most unemployment, because industry our insurance growing healthcare federal pandemic, joined policy to remains team assistance healthcare economy on who of important of relying The to where medical and We’re to a the protect became vaccines single Americans care. world colleagues, professionals our are on pandemic, and provide lives and am this on treatments Presidential through on COVID-XX Much changes our and work providing the global hold of the proud of laws. focused is our facing state heroically while provide

to less home the stay patients afford cumulative don’t more choices more conditions work to is to is telehealth to prescriptions. insurance way is so their that flowing and learn clinics to price hundreds have much journey. our and come I broken, to a long the healthcare We than a has extended new, of than find $XX more across care since ready we changes launched offer Americans We receive freely own initiative, And the we’ve in prescriptions GoodRxHelps, towards delivery. to still often healthcare online over done XX learning their major copay. opportunity. have Americans decades about a intend available way and model delivery milestones America’s healthy. report believe states GoodRx. Americans are professional system. We We the medical proud needed We information in Trevor of America. patients typical all healthcare turning in fix HeyDoctor, be being The pandemic that for to consumer ecosystem, empowered is introduced long-hidden last are long healthcare. I’m Millions service provide and internet run telemedicine Millions at are savings. in reached treatments XX old started the a that this visits can’t that medications number our a needs at free of There Across philanthropic months. reached affordable home few to We billion them. for to to embrace them. that XXX accelerated and the if better are and to way to broken Providers embraced and the

improvements We creating strong invest user and with healthcare cash product, the consumer our and experience will the Americans. and goal in continue to access brand, our platform, for major flow all affordability of experience, to best

much than building a more are We company.

United platform are We consumer-focused the in States. the building healthcare digital leading

we and the be Our provide. impact by positively measured will care ultimately impact lives we the

been that, turn I’ll to over with Trevor. motivated. have more it And never We

Trevor Bezdek

quarter quarter, Thank Doug. deliver delivered pace. our growth at performance, strong historical subscriptions, a with Consistent you, EBITDA and offerings. no growth to in margin and million, adjusted XXX% for year-over-year year-over-year And revenue Other our delivered Total EBITDA growth we our by adjusted growth of XX.X% revenue adjusted is $XXX.X and and $XX.X XX%. offering. and manufacturer active XX% strong convenience fast the to third million, XX% the very year-over-year the greater manufacturer growth grew In strong GoodRx million. solutions consumers reflecting in prescription cost. connection our telehealth monthly record in $XXX.X in transactions transformation. our driven monthly representing of rapidly year-over-year record transformed we market healthcare’s value $XX.X million, grew of forefront, Prescription revenue consumers. is and subscription, telehealth EBITDA, offering, and healthcare being revenue continued creating markets year-over-year solutions we grew profitable by XX% and between an a to active The exception. pioneering Consumer-facing are technology, transparency at clear driving to

approach to individuals always created first Our trusted throughout the consumer guide healthcare and their journey. has been we’ve brand

on healthcare efforts journey. just first the stop only We’re any become our beginning to

suite expanding how help. of and offerings, differentiated understanding accelerating is building content consumers’ investment Our deep we brand of

affordability, We providers, engagement will to and solutions. this increase healthcare organizing services aim products. new We around launching and our accelerate with trajectory, access adherence continue to existing particularly

categories. to we expand our new and As grow continue into business

that healthcare We’re deliver more stakeholders consumers ecosystem. a and impacts to to mobile consumers our healthcare access to both We make value to affordable. consumers simple value are our offerings focused have fortunate key that providing the in may first cost, on and platform provide visits been through medication may allow fill positively not telehealth adherence, due that and access care faster prescriptions We they treatment long have wait We drive otherwise outcomes. to patient greater or concerns. times people help have avoided filled. when We better that COVID and

our their of All deliver and increasing total addressable healthcare We outcomes deliver create them a of medication population. their reach of the value at at billion. Managers, prescriptions including burdens value improve is estimated telehealth We a markets. $XXX We services over massive helping combined of with is strengthen financial pharmaceutical professionals and which alone, The to consumers penetration stakeholders opportunity to And billion. large estimated billion. the The In increasing these and to $XXX prescriptions our manufacturer $XX a over market in potential in annual our U.S. business market $XXX manufacturers patients’ Benefit providing patient a Pharmacy deliver to addressable consumers left seek or who in ecosystem, the prescription value billion. We by for quarter, more annual continued industry products. has treatments. pharmacies, third solutions strategies by the adherence. exceed healthier, information operate in team to our and our with market counter relationships by happier

where X.X record monthly active by through to of save on allowing During save our medications at GoodRx their the we consumers, XX,XXX money one pharmacies on prescriptions million offering; accepted. their presenting to quarter, consumers helped money prescriptions the is GoodRx simply

relationships with recently PBM launched We PBM our partners and continue and platform. pharmacy strong have on to initial our have

provide and to interface. through continue a digital experience information to easy ensure savings user simple, focus to on with consumers use and can prices, we convenient We

Our prices XXX conveniently GoodRx, for every and their variety efficiently billion list near pharmacies prices various healthcare money a them prescription proprietary their from save different over from medication. a consumers prescription at platform aggregates day. medication, sources of and search on of choose can now With

activity network The strengthens to transaction. relationships strengthen with and GoodRx pharmacies Our with every consumers exceeded XX%. and repeat continued

us strengthening continue to and us improved platform hard consumers. and a on our engagement Our volume products, expanding enhance consumer replicate to leading our and competitive platform increased drives This more virtuous and brand to deep and savings, expand allows pricing unit creating trusted a cycle allows reach moat. economics. This to

revenue value alignment refills, strong a deliver time our continues value the from and we with we they uses consumers money from growth consistent prescription fill for us. to Our to earn partners, to generate Every lifetime save creating first prescription consumer and the offering economics. GoodRx the between unit to fee solid subsequent deliver

has to continues be our offering pandemic this impacted impact economy. the as prescription the demonstrated offering time believe prescription to challenging resilience by the continues COVID-XX during Our pandemic. We

or As continue cancel defer visits. consumers to physician many non-urgent

prescriptions market our value begun purchases. our and in and we increase prescription offering consumers, to as typical of a resume number active offering fast people of growth in proposition However, incredibly the our a large continued demonstrates have we seen have which operate. significant quarter-over-quarter monthly our healthcare The

As from consumers. pharmacies program year. One eight this to to their we our will the flu for flu happy forward pharmacy we’re with vaccination our participation, partners in program mentioned, working highlight where pharmacies, is pharmacy year XXXX to we’re expanding grown two to It We’ve big vaccine look working closely facilitate vaccine with drive chains as program, and a both this with help likely to the drive well we’re for on future. value in additional flu retailers and and be additional consumer programs savings. them already our as

at with prescribed had as hundreds the to prices offers relationship The prescription GoodRx has in of prescription well. Savings as medications. the program Our exclusive extension provided U.S. the by access Kroger discounts the Club a thousands program generic our quarter grocery savings multi-year on of exclusive Kroger, To-date, access customers Kroger to powered subscription closed largest chain with We the Rx lower offerings pharmacies. of commonly successful

to We and relationship excited are invest this extension. fruitful product in Kroger this very continue more and with to this with plan marketing

$XX at prices offers and the We’ve to focused been up up available GoodRx on with under conversion, our acquisition enhance a user accelerating that list for platform subscribers savings pharmacies. are to XX% experience and over Gold, where off to subscriber pay GoodRx which access momentum. better fee of integrating resulted even standard this optimizing prices. into continued monthly participating new program, medications lower in Gold program prescription X,XXX of We

access, launched less not an saves to medications prescription home pandemic the patient’s for Americans offer by when improves Today XXX which Americans it services has made receive needed for Gold, We common visit convenience mail challenging and offers for $XX, is option. than more to mail medications order just As pharmacies. stay. retail money leaving by more enabling mail than we and

order telehealth services added service. also online low our cost mail HeyDoctor, to We

to In of grew experience the it order provider in Americans provide and addition, all Americans conditions treat. and mail to they through time we states The combination new expanded online and number HeyDoctor medication all for professionals care XX our most. access service a online gives when at of visits convenient need an integrated medical

providing for XX We focus integrated of Americans. assistance manufacturers. we to more the brand Finally, our cost than prescriptions on programs increased launched with reduce

products our provides As we the manufacturer to growth savings patients of are we their portals third our conditions. the offerings ways several services. brands. growth We to our care for see help continue exciting various we new the launched manage with progress Overall, grow help additional to find with very quarter, offering, functionality and solutions potential. continued making our also pleased and and we’re results for both This resources

continue we and improve through Americans. for our new all services consumers new affordability existing to healthcare and launch As offering attract access to

higher our to Karsten. lifetime As journey, that, turn at value and our delivering extend we more consumer over generating value. consumers consumer to are we with the helping And stages platform, it healthcare of I’ll more different people

Karsten Voermann

Thank today. Good joining to morning you And us you, everyone. thank Trevor. for

the by Our newer combination generate we Total third XX% Prescription as quarter business prescriptions our to economics provides, our unit in of XX% results growth ability and large in the monthly transactions scale, a continued $XXX.X million grew growing operate cash million offerings. our offering to for profitability revenue for our $XXX.X was year-over-year highlight as year-over-year driven our execute the well by and driven consumers. strong XX% which strong unique flow. increase revenue markets quarter year-over-year, in growth active and

This not a average the unique quarter, our growth GoodRx year-over-year prescription other reminder, a revenue of our number driven value active of XXX% $X.X their As and consumers in revenue who consumers ability subscriptions, healthcare the XXXX. X.X% online monthly driven growth. various consumers to and our strong compared in an to solutions telehealth. consumer points journey, offerings. with to grew represent the use as to by ability save active of When increase month. Cost and costs provider platform. the to XQ at create expense well our support other given number does of in on related increase million or And related $X.X This in-house an to in a our our Other all million entry growing was points deliver as into visits revenue reflects monthly for our of months of include consumers telehealth by to $XX.X offerings, increase the consumers million represent quarter. offerings, in personnel of of outsourced and it revenue their in calendar in multiple manufacturer is X.X% support provider presented to

the comparable at technology last as were the investment made compared to stock-based expenses well due period levels. $X.X connection including an the $XX.X was million, increase in This gross million compensation, deliver Product strong primarily to continued increase in and to margins team in product continue mid-XXs IPO. as our and with awards in year. We development

XXXX. to in X.X% of Excluding stock-based items and to technology of revenue related acquisitions, compared XQ compensation various X.X% development revenue adjusted expenses and product

different goal consumers generate. in existing million XXXX. developing to lifetime product consumer in increasing offerings the in XXXX due building XX.X% sales creating revenue XQ professionals their up more advertising and we the $XX.X making first to last in avoided percent journey, and spend our COVID-XX continue as Officer, plan XX.X% increased compared third million, more GoodRx with we yield value by and reducing stages channels marketing build interaction impact scale spend returns healthcare advertising of best in our of Brand them positive said, compared for After us the and stable to advertising the continuing to Doug and of new consumers Sales our healthcare the to with person, were in As to spend platform and will to million including expenses visiting offerings of with healthcare as certain the and Chief long-term. year. in the consumers quarter continue our to strong We $XX.X invest of $XX.X a goal help many experience, year-over-year, brand, we of more base year-over-year, value increasing team, we all second hiring the quarter as the delivering our our was pharmacies XQ to consumer their resumed XXXX, revenue which increased in of Adjusted marketing expense believe and a system.

of of to continue on the million compared We were spending in majority more our consumer expenses with and made manage The evaluate administrative to $XX.X provide quarter to this which will based according the to Co-CEO business million, stock context due detail the actively acquisition million XXXX. guidance. connection conditions. the of in General related our $X.X IPO, of market compensation COVID-XX in third awards the impact and shortly $XXX.X was increased on to I’ll

EBITDA $XXX.X end in this the the We $XX.X compared growth million $XX.X to at and compensation million of at IPO stock-based million G&A the items, stock-based third $XX.X to and XQ primarily net the incremental the Adjusted of Adjusted of in our compelling is our of Co-CEO to with unit XX.X%, net cost, repeat strong million, business the loss our IPO. at as be XX% year-over-year to which of was company primarily due reflecting of and activity public in in Again, related due XQ associated on time profitable to economics to deliver percent adjusted $XX.X to revenue made XXXX grew a quarter. related Adjusted as of Excluding is quarter, grants to operate platform. to X.X%, our margin the September. with incurred $XX.X ability X.X% a starting million. XXXX. compared continued other to million compensation EBITDA income

we XXX our year-over-year a as adjusted and quarter-over-quarter administrative of pulled development XXX in our basis COVID, points, second the as and I’ve due basis points to margin in I decreased business growth Our our spend, discussed. adjusted as On margin investments increase and EBITDA decreased back which mentioned. due previously product infrastructure, primarily EBITDA approximately an all in the due continued quarter well technology, in which to of to general basis, advertising telehealth

We continue operating to cash million $XX.X activities for generate from net strong cash flow with the of quarter.

the On tenant investment platform our new approximately of capital $XX of additional Monica and build investments the to improvement, one-time headquarters investments in product. our and main spent related in Santa today, reimbursements, front, our net non-recurring was million

We quarter cash to of new construction headquarters substantially after this $X.X expect to year. turn I’ll cash the netting, $X approximately IPO We with complete the of now and September. guidance. equivalents in by billion placement from billion private ended end our of and our

these as transparency and the we and providing ability value that to As we to our adjusted margin. provide to focus, our will be as investments, our and revenue long-term shareholders. as company, To balance the clarity journey right company, maintaining for priorities, make consumers, our total want on guidance EBITDA public ensure well to we begin maximize our a we shareholders our while

about both investments our as well years to being our to We the as are come. transparent performance, committed in

decisions. our understand and operating informed are shareholders So,

growth $XXX a fourth quarter, of XX%. of year-over-year expect approximately approximately we revenue of This translate the XX% would $XXX total revenue million year-over-year For full-year reflecting representing million to growth.

business we consumers expectations offering. While we want such driver short-term prescription is by since is this our our monthly COVID-XX call guidance because to providing on for and this still an impacted active provide won’t be important regularly, our of did

that line subscriptions growth expect which our to between up to transactions and on our of For high quarter-over-quarter for the guidance consumer we monthly consumers approximately just offering, note we continue contribute make providing for our not growth consumers to revenue, delivers each do line reason, gradually quarter. for non-prescription offerings, example, for Final of that our revenue contribution Remember active other total item, a other monthly we the X% be be expect but times percentage to like the revenue X% fourth revenue, active higher figure. our won’t two revenue. of

Looking stock-based at compensation.

for end IPO the million. until co-CEO stock-based expect been We We fully we grant performance-based be the over investing related The material. this expense have the fully million the $XXX as price quarter, grants $XXX and the time-based to in will provide million total the approximately $XXX great moderately this made third connection met. year be of to to compared be out recognized million in expense a on a will total XX portion to basis remaining quarter. criteria they’re will of to quarterly by frontloaded. is besting the million recognized grant related this compensation to of target the the $XXX of the fourth bring expensed following in $XX plan The with for becoming with update grant quarters the recognized or expense

adjusted expect margin to a Turning of our we in a fourth primary in We year-to-date grow shift plan XX% to to marketing coupled with quarter in the driver quarter to EBITDA quarter, investments EBITDA lower for between margin margin, fourth significant and compared the a the from be continue brand. to investments marketing certain to translating the of adjusted XX% adjusted make quarter XX.X%. margin. of the approximately fourth full-year timing the our This as to third it EBITDA

we’ve stakeholders scratch a consumer and begun As massive consumer-focused, healthcare profitability. Doug to flows strong and and to the benefited digital creating platform, our experience surface country with healthcare growth of a our Americans. cash mover of market decade user opportunity. high brand, experience a platform plan advantage We’ve the just from all and experience, and and our of product, affordability for all and access key is brand scale in invest benefit the This first the believe building the a combination and our we with relationships goal only best a improve said, and ecosystem we are rare in leading, of strong platform that

We’re with our future. a at and the progress pleased about they in look excited price quarters to afford. with our forward the help to mission I’ll healthcare for operator questions. to Americans our our need results now come. third you turn call us We joining can the for sharing get And Thank we’re they over that, on to quarter the

Operator

Thank first ahead. Instructions] from you. Our Please Stanley. comes with [Operator question Morgan Goldwasser go Ricky

Ricky Goldwasser

good in And up included and quarter ability and picking we But Hi, look subscribers as at the momentum negotiate point, in is first about congratulations not performance your morning. subscriptions levels up. on you’re now a is and above public company. your pre-pandemic the active are and and When scale. growth to to consumers the monthly member as we seeing metric, think clearly, your

in maybe, you the would side? quantify the monthly if growth? subscription ads normalize us we can for metrics active the help for like look So, What subscription be gross consumer the

Doug Hirsch

you Ricky. question. for very the Good thank morning, much

Let me have Karsten question. to speak this

Karsten Voermann

prescriptions and their you to journey. by and it contribution their the Xx value us great again. to plans, while successful very healthcare speak subscriptions create our and as tight consumers for Ricky, really the more Hey, relationships we’re they they’re evidenced to throughout a consumers us Ricky. year savings one LTV extension increasing allowed our with our deliver because allow excited to with offerings natural about

quarter growth show the added mail platform and third order and is Gold ongoing like growth Kroger onto our to I but meaning versus not an We’re as and experience gold that positive the high mixed need momentum. by basis, during show mail additional great subscriber specific We’ve specifically. disclosing plans are integrated features planned added can’t A order well. counts

with make Kroger, we’ll and marketing investments We also going multi-year more means agreed forward. product to renewal a which

really the on offerings, about ramps. disclosing subscription side specific those We’re them. again, numbers excited aren’t but specific,

Ricky Goldwasser

Understood.

could when solutions? offering, about over both that medication think set maybe some chronic there mail we the order your for of to within on time data user the we about and the opportunity, base, is new mail users convert So, think

Doug Hirsch

Sure. thank there again, Karsten, regards answer mailers question want And that is the you for – you in also. do that to specifically? to

Karsten Voermann

is well, general first think, question think I acute. the versus chronic I of more all

Ricky Goldwasser

Yes.

Karsten Voermann

chronic for evidenced skew think expect. think intersection mail even think the have to mail-order I over industry I and up analytic reports And not to I Trevor by to get as chronic broadly, we the in mode you’d of the continues as that want some mail-order towards few users order days, more like of will With the address that general, little detail. likely And a come dominant in subscriptions. be to the last more respect

Trevor Bezdek

What provide and just hasn’t And the to on for of mail and more accelerated at think, that it – low. with year, be The like trying changed imagine U.S., look consumers retail else. for able to the GoodRx an where penetration than almost other those to they’re want mail you pharmacies partners more it’s solution anything consumers pretty in to yet, want to appropriate this so we penetration partners, much. mail-order are. us, at the want retail to and is mail they what we’re meet what they’re Yes. an pharmacies and mail our consumers, – say mail we for and where would I use it so I it. is would want where the is We COVID, – of accelerated you to provide that get consumers work by and looking would

Operator

Thank you.

Terry will Goldman question with come Heath next Please Sachs. from ahead. go Our

Heath Terry

of HeyDoctor, part prescriptions growth see really platform we your – helpful. well a this of television as Thank medical especially the things sense being that of with, could rising, progress quarter bit business, of the little factor a very particularly, a aggregate see visits the having impact are us that for procedures delayed at be as just your as on marketplace as as quarter, you as much to cases I in we’re medicine recent or parts you’re still taken, a little an And look delayed but and a was quarter bit, generic wondering Great. the – that this maybe how then and we could, around realized in how would you give well on you. if itself, sort the seeing much now. two a overall if of in be early that the that stage. continue us prescription that you beyond, of big are such most having do would

Trevor Bezdek

is I’ll Thank to then growth. the the about great much you COVID answer of impact. telehealth, sort a look area we about marketplace be this – very continuing of at about question. When to the for and glad be

at as broad we a the it additional both we across see When offerings. momentum this on prescription with HeyDoctor our into conditions look healthcare treated then as We added the number increased mission telehealth expansion. a an we’ve XX expanded for additional expansion we affordable, also of we mail-order done month-over-month all we’ve numbers States. of and healthcare. sort set of quarter-over-quarter telehealth, customers on mentioned, offering the acquire to being options convenient of of a way services the to as cross-sell and from And to XX seeing we’ve we’ve part our basis; we well as us are to increased We’re – offer, provide, to of of positive basis, lot really all

a had We access, we their enable had how March accelerated get for really our and in us won’t medication to COVID, This continue broad wanted they third development in prescribed launched just set to when of options experience experience doctor that for consumers We to the something it be then it, at the visits, of been the to in to on investments a marketplace. sure to the and like providers marketplace, additional and product roadmap, that because grow to the have need. we affordable make to late was product journey. and allows sort all points we our of make add to care the labs to make to but be April. user great consumers. with integrated partners healthcare consumer of have added came it and complete Americans in marketplace getting continued quarter, we

of part rate is we an set our around this like to broad of effort do early in the the this get a our Although broader access area. is stage, and – a on still, prescriptions healthcare take

HeyDoctor. as this consumer provider still and HeyDoctor. addressed by the choice gives and it addresses conditions areas, by, So, market covered broader And much not

and like services, to new keep to the So, those, large introducing ways our adding adding that we consumer base on marketplace providers plan monetize some partnerships. listings to sponsored

So, also set broader of another the point again, telehealth, like our just offerings. into entry

say our our as that to and at growing has risk any So, almost said. generally good, COVID has of industry activity factor so continue number made us predicted. other accelerated rate good during not of like doctors plus pharmacies a also The have more as even as that like really trends I’d well we than and a pharmacy impact rate, we space, bit sort and had XX% visit normal. XX% COVID. repeat really the certainly have of And consumers about caused we much as COVID, less is to I’d believe seen COVID is – speak me What a to impacted I

COVID And real getting some into is is making there. consumers sort – here hopefully sort soon. industry that anytime the – of point assumptions this any happens upside would we’ve where of real but I going. had there in are decreases sort any where and healthcares sort where of impact of of the we the say not the But around assumptions future, roadmap, at as fit what

for that. sort that assuming the status it’s better but We’re of quo, hopefully than country

Heath Terry

you Great. Thank very you. Thank much.

Operator

you. Thank

Please come with Doug will question ahead. from JPMorgan. go next Anmuth Our

Doug Anmuth

Great. Thanks questions. for taking the

the and years sales and just you’re pretty you about in just you’re then that two Kroger the then obviously pharmacies that? retail basis, about next and then thinking Can on marketing, into that just and contract partnership Thanks. slowing about kind your somewhat to early multiple it a a forward, going about it’s and but work how subscription curious large aggressively years. potential how I know to some COVID, extending talk early XXXX, talk with XXXX with year, ramped better just about for on other recently assuming in we’re talked place, thinking You’re you of in

Trevor Bezdek

for Great. Doug, Thank you, the question. very much

a that question, for would working us and successful been pharmacies, help them continued want – programs the for and really, we both program For and retail we enjoyed We our with it excited with our growing, continue believe I of are extended excited – very there. your for first different all all them. has I what to on to partnership work Kroger to

So, one that I vaccine flu program. our would want to highlight is

an a So, good demand current important for of flu two say we’ve what’s pharmacies on to vaccination. this, highlights and consumers. good and eight these to with pricing in And that’s consumers each environment. And example want from partners and the find meet expanded special That’s help each access is the really them going, I help increased for this flu availability our XXXX what’s of the just in right good vaccine pharmacies program, help year. to flu where to this to programs is of working to to drive where expand program we we get to partners in about vaccines pharmacies what are

work partner. So, each programs find right we the want to meet to for

this and that how this environment, is able sort a period the say sales of is where like into to the years, we’ve in in – year performance great – sales do that lot and it’s this spend, we for has would has media marketing to I I’d spend want marketing of in environment significantly compliment even which I on spend with and and are of an our we been changed where changing. period been marketing this things are team the where future highlight the – maybe marketing, in what On forecast personally complex a maybe, and there year currently well, in sort

investments quarter to to some we start-up So, years. we that our there’s the often in also marketing at significant at continue fourth to as we brand though look plan and QX, opportunities acquisition anticipate grow plan and beyond make customer occur seasonal

say, enhance awareness, continue investing offerings. continue our in increase and So, our just brand, And continue to beyond. lastly, QX plan build spending, we marketing to maybe, making, we really I’d will

been long-term our markets, have We growth and that able multi-hundred on telehealth, to they very growth, drive focused profitable and billion this driving increasing solutions. manufacturer penetration, prescription are sort long-term really we of strong

of opportunity. surface the the scratching We’re

leaning environment – the even other month payback, even spend. that thing we’ve on we’re our is I an of and sort even all opportunities been we So, these highlight marketing able week, increased last into acquisition marketing, challenge definitely in spend guess keep at levels. to sorry, that spend, eight I’d increasing costs below

thank for So, the you question.

Doug Anmuth

Thank you.

Operator

Thank you.

go will question next Barclays. come Please Sandler Our with Ross from ahead.

Ross Sandler

total gate. the guess on first on market. the out congrats guys. I the question the Hey, quarter addressable of

a end, you’ve questions billion since IPO heard or on got scripts. lot guys’ hear end, at this so we to and – kind so $XXX million flowing the the of around cash the pharma wanted your low X got take scripts generic just off high kicked through retail And process of at pharmacies; pay U.S., annual you’ve TAM;

do a How TAM that’s guys range. your pretty for wide scripts think core business? the So, Thanks. you about

Doug Hirsch

Thank you. Ross our Appreciate the at look Thank most we question. Yes. it. you, of have users for When insurance. users, our

going portion XX% often are base Medicare, those on significant to insurance the of of get. some normal is has user our today plus which a So, and insurance best someone’s

– – we we’re that I’d is cash relative is look, that pay think segment a and broadly, generally, are sort these we So a Americans this serving. all of relevant what that, don’t when is actually say

more more utilization plan, all when And only think which now began, three we’re the is people. I four I have like access authorizations, back looked of we’ve narrow just prescriptions, looking market health limits, challenging network, have we to We you tier for prior management, reality – since think, plans makes the even quantity have complex. at plan. tier only become

mean, opportunity of And look some of the – so this prescriptions, of we – billion that some where we’re services of X also help. scripts within and the than prescriptions, helping, billion is there we broad at set really of a we it’s the set more I large you is $X where – can and much can offer.

the healthcare the and How do we healthcare need are In access to affordable is market. which have. addition, very get Americans we broader Americans focused broadly, convenient that on really help

And hope the so that question. I yes, answers

Operator

you. Thank

Our ahead. Please next will Justin Post of America. go come Bank question from with

Justin Post

Thank Great. you.

And what coming the of learning to healthcare – under should changes company, ask, policies get you. election focused about? you be you wanted Thank you level? people a do off Just federal kind would the administration Biden foresee any as the are we we thinking were of are and on

Trevor Bezdek

Justin. this? you you, speak to Doug, could Thank

Doug Hirsch

helping There and so a recall, many what – floating many just to the with about so and is despite get would often the started, like and got more yet, long they they can we what who just consumers first the it’s them. is been our but company no changes anyone, price consumer ACA politicians, is, feedback I be that And to are sure afford. continues the fill Americans gaps executive was can been significant And easy increase, for and that just lot solutions and sort over there was in make just at our fantastic a moment, order happy so going I’d time, I and whatever the much ultimately has reality at care and what’s we’ve the course the healthcare of to through we be policies have – lost decade. there the – a Americans in at to-date focused is to nice driving things the and we’re consumers, really that any and need GoodRx XXXX, has when matter attempts, and seen is history one to very Sure. consistently so of policies we’re about shuffle access. administration prior around had right. the Obamacare. be is obviously, for whatever be helps And healthcare the what to us is on in of those there in many – make And of been has would existed back we’ve burden last Obamacare for it on decade to gaps feel honest, or the here there engage done

Trevor Bezdek

administration, the any I’ll just anticipate with concerns for business. And add that we new legislative don’t a

access to don’t and driving affordability for the Americans any and healthcare so objectives issue. foresee fundamentally of with aligned We’re really we political

Justin Post

expect Maybe, business would your that pharmacies, normalization year? right. All how how you important being is next of more activity that? stores vaccine follow-up, and you one just next and would How but affect year, people in so because about outdoors think would

Trevor Bezdek

is these prescriptions. this, Yes. And I not the speak is still the things current does on they’re consumer COVID, getting – outdoors – going growing that. There as a have very sort if we’ve or do going the there? thoughts it of business. maybe we mean, well fast – words on physicians there the the that as to just is upside for this is the any of to going – of to This consumers, of said, look – not care. is beginning spoke Obviously, to saw there amount have general, we’re this I all that physicians, better physicians rate, for of when I – at a an good. sort That people you we at physicians, want positive in previously impact. our both is current the effects. earlier speak modeled impact through impact Karsten, going The that this, people but year, of what can an out, very cleanup to to going kind now, if their even economy some, But in to non-urgent but to are really their to COVID, At going people now of on

Karsten Voermann

Yes. I question. appreciate the

a So, of as we perspective, contemplate recovery. it happened into from from We’ve more model that. from XQ some benefited modeling seen XQ, in and we a gradual already, broadly, that

recovery is that’s present likely at there haven’t V-shape helpful. also us, the incredibly steep lockdown impact if we is that if So, but that significant could assumed a

Justin Post

Thank you. Great.

Operator

you. Thank

Nick from next come question ahead. with Jones will go Please Our Citigroup.

Nick Jones

maybe, view our ex-channel, you they consumers as branded Can don’t are questions. on plus an talk the I mentioned Thank XX and get to get taking a looking or actually rate drug? for know to for generics the Thanks you talk and branded You searching for touch can manufacturer guess, on channel, partnerships, how the to it, the that solutions? Great. you. advertising about then new looking drugs of maybe, about, try discount just

Trevor Bezdek

much, very for question. you Thank Nick, the

growth of driven already intent to on assistance which also monthly Americans. These user how – brand also spoke has continue brand plus we’re to looking types XX for drugs. brands we million XX% you’re just it. to for really and really cost helping of as to integrated area perceive are a brand more consumers as for build year-over-year overall approximately on that they to And of all the care can this looking this the sort About focus are healthcare, in really changed out save it not different consumers get. of really, sort that, of we’ve and the of visitors $XX our sort some with drugs across we margin our prescriptions manufacturers, consumers, highest that really includes savings XX has offerings. serve these high help consumers that’s We scaled base, that prescriptions Along of team strong want We our for on QX, for searching In platform. they that growth. all launched is are And these to relative It is first, includes portals with portion able generic. mentioned, what prescriptions, asking our which a we save one a revenue brand of of on of to medications on of to increase and new as continued consumer try to which reduce focused you, on out programs rolled and additional – new than piece new these functionality, several of providing

These acquisition this a about, of us. we’re do We’re guess, helping and there. enable this purchase These user reach a just the these – of are platform of to GoodRx area. delivering trying across and manufacturers right the ready just users, better I’d time good it lot that cost these that sell. healthcare, We them and help are who to what’s platform value able lot convenient of these inventory, affordable, our find searches there’s is make business pharmaceutical on of to now, – line are think experience at this less by also incremental our consumers also have call no already to use for are are to of them sort I growth them additional of I to

year-over-year when this in we’re lot line area out great a of a area other – and So, the moving here, components, the interest to breaking huge growth expansion we and – provided forward. room for not revenue being we expect originally was while keep this

Nick Jones

Great. Thank you.

Trevor Bezdek

much. you Thank very

Operator

you. Thank

Suisse. will ahead. Singh go with question come Jailendra next Our from Please Credit

Jailendra Singh

decline lost your about regarding talk color versus you Thanks company. like active in My you increase of quarter that? users, first around third morning, or everyone. good many second public as with part of saw compared active these and quarter, first how monthly XXX,XXX quarter you’ve Can in that around XXX,XXX. a around which sequentially of consumers completely in the on consumers, you sequential how quarter monthly gained in XQ new Congrats any the are cohort, question, many

Trevor Bezdek

you Thank like you. Thank question. to Karsten, you very would speak to much this? for the

Karsten Voermann

great thanks to question to And for talk you to Sure. again. Jailendra, the

and their a in started $X.X as quarter with a in Max high about that’s million market, XQ the max significantly on consumers, activity non-COVID hit in We’re doctors, increased of improved, Max with year-over-year primarily in third all-time grew or monthly to a up offering. of an as quarter. and comparison XXXX, back growth the prescription happy XX%. of consumers overall to the increase go basis, And the which course, active to and our

certain appreciate who pharmacies or, And that’s that see not to COVID been we’re confident their either XQ? Q-over-Q question may reopening during as generally grow of in delayed otherwise well We helpful. users, have XX%. new the question. elected the are but them or imagine, number of more a significant our your go the believe can height growth, the think number reopening as is to period the but whereas I of into specifically macros users retention/attrition, specifically a I with of given related yes, you gotten providers folks, that we to economy, healthcare haven’t Trust the

Jailendra Singh

in announced guidance consumers How you then integration And Know many talk just I partnership follow-up, provides you your Know a quick what guys Meds? with partnership to Meds; that know Yes. Your Your work? and reflected is this respect will with can with integration that how with about you that

Trevor Bezdek

This of ecosystem. Sure. just in partnerships many one the is we have

just on have to We – at them any consumers solutions a goal save prescriptions, medications. reaching different healthcare where of time, help they’re more time a of sort at accessing

new So, we at, really the scaling affiliates existing marketing just we look across look ecosystem. can with opportunity as channels, and marketing really channels, reach increase through where creating our partnering we

able we need so that almost healthcare really nature looking access hope they incremental at provide some broadly it they’re consumer opportunities information of really it across where experience around them when people, a and importantly, and provide they of to And good each journey. more value are need for the just the

Jailendra Singh

All right. Thanks.

Karsten Voermann

Jailendra. you, Thank

Operator

Thank you.

ahead. will from come question RBC. next Mahaney with Our Please Mark go

Mark Mahaney

manufacturer solutions. about ask to want I Thanks.

new process, a material plus than there these more these partnerships the on how you a launching launch partnerships, allowed had you color than the – could XX about than lot. something to the you’ve – were there Is ones more reason total to-date? any think talked Thanks partnerships new do be that more quickly they now? past? the ones in you’ve Is You than in those, partnerships it’s to you many new have

Trevor Bezdek

Thank general growth for in the this We you much very see question. area.

monthly coming the manufacturer getting in this have amount There’s number these of area, of I users, for we’ve benefit growth just just in XX situation, we’ve really million much not an XX% only portion. are small not solutions, look monetized this on of of plus brand our a drugs where really monetized we’re of we and because mean, sort platform. of huge We’re savings where huge to a our a a the is the past. the visitors here, overall growth on like where

across existing really monetizing of we’re set just, So, people. getting of sort now also those –

building us an we’ve a grown strong We’ve team. team team. large adding that is really experienced built – We’ve a just there. that reason been these So, for

We Karsten, invested was rolling this We Chief technology focus. They their premium have additional out who just navigator. patient here. in Business solutions, solutions mostly, Nagji been We’ve more Bansi about premium Development, Strategy Officer. hired but have from like Chief customized is

like So, continuing future, it this I would year past grow past this, anticipate the we in to has quarter. in just – quickly

Mark Mahaney

Okay. Thank you.

Trevor Bezdek

much. very Thank you

Operator

Thank you.

Sheridan Our with next UBS. Please Eric go will question come from ahead.

Eric Sheridan

position as question. you’ve obviously, of we’re talked the could just for the over refresh investors so of growth the pressure taking shorter-term should couple of key coming you in and on for long-term, deploy of you you guys. past what the the think out Thanks broader a little against zoom quarters a just next about you quarters. Maybe, see if the I to volatility some to much, could how over in bit the investments long-term as make investments the people business, margin some have between margin about the goals minute. trade-off and the Thanks your seeing

Trevor Bezdek

question. Thank me this you speak much, very Eric. yes, to Karsten have let

Karsten Voermann

quarter same marketing And those lower drivers compared are specifically. of in supported really the good years. year-to-date We by grow roadmap or XQ that making though, component investments of significant investment, in occur our adjusted think course, at acquisition plan XXXX of also the the make start Sure, of detailed terms investments anticipation to XXXX our increased margin the at key quarter, our always product marketing the one of of EBITDA for beyond that margin an to in seasonal to the technology plan product you. to is time. consumer to opportunities we we’re brand, continue fourth in fourth the also margin talk to and our increased to and When just

then on also of margin. fourth to our operating that course, mind a first in in be other keep quarter with the company. have associated need you an that, D&O, think new that full an quarter things auditor various as fees, costs And like public I increase impact will

all respect and company We and two. the huge of public that, expenses next we’re into these is of product going to or investments of we continue a doing year expect to it course, course, With making TAM. forward having have marketing reason

up TAM, expansion. feel we and be related fact I we’re massively to the in continuing earlier about for that room it lot think question talked to a we with underpenetrated like of came the

it going as relative that of TAM terms more efforts to believe versus in So, as we penetrate we as our deeply make in and spend can your much to sure we make that of interest share trade-off, can. growth to into to grab leader, we’re that it’s continue a market

Trevor Bezdek

there to this I just we digital I’ll is all just opportunity we deliver add, health larger sorry, for the of surface, add to vision want have to are are And that capturing – we the the product provide going healthcare what of this and we’re being super-focused like scratching – on that. on platform

building and product building on focused on really great these brand. We’re

Eric Sheridan

Thank you.

Operator

you. Thank

ahead. question next will Rhyee Charles come from Cowen. Our go with Please

Charles Rhyee

double prescriptions cohort, a Kroger any that you and number that about, like mentioned thanks people taking on quarter, of subset who are typical users are question there’s there filling, the here. month use is even either a it? for skew kind a Hey, and to about within scripts the in guys average in the earlier One, customers, a yes. versus members, what of golden is group, than give the revenues someone’s occasionally to kind you’re heavy of ask of but your does the sort can your or a there – that of quarter congrats first kind color I’ll kind monthly if consumers, you active and contribution of

Trevor Bezdek

Thank much you question. you. very Thank the for

so actually speak you Let certainly. this to it, pass me can Karsten, to

Karsten Voermann

and Sure Charles. thanks,

reality as we with a different the of going earlier, but that that in rates to one, our number chronic things, number users from again, a a of couple buying discussed of medications are different concept we a in have number we with of of repeat are two, having the majority, benefit business, transaction there rate. think XX% I like users utilization. and businesses significant So, most space over back any fact;

we’ve with for are be to of a discussed on to incremental subscriptions look economics for continuing the users. things subscriptions us example, drive unit are those earlier, to So, to way specifically, eight-month what marketing payback we allows critical to like value respect the, push spend. and

as So, that, able business. first the to still, drug you associated subscriptions fee prices. has offering, while And lower mentioned, monthly the subscription off we’ve been a in year it despite offers, even generate a LTV XX

perspective in in relatively and giving that’s of our its hopefully, terms our So how you applies helpful user base on usage case.

Charles Rhyee

new but the try you’re Yes. of you That spend, obviously, sort marketing? was marketing, at targeting I or more like want consumers likely to a helpful within trying within of to division directly always, really look think get that’s you are payback of users on obviously, users, to month and you then you you focused the – said who are use kind guess how always there is marketing kind more people, on about to when been a there’s active track a

Trevor Bezdek

Yes. are we nature. wide these said to the prescription may I’d sort I we users. people if generally of us more example, operation. running general on even nature, to that users say certain on marketing television that’s Whereas really sophisticated, are you and so on get particular believe sort able all going – be do we’re of digital, for a of There that have products marketing focus the we set chronic in pretty is as types of healthcare and

we we the of do in they as digital we that relative just we of do lot optimize campaigns can. think sort a and that are. nature type best more we try is the targeted So prescription spend But of user, isn’t fashion. more But to marketing too in on to or less general

Charles Rhyee

Great. Thank you.

Trevor Bezdek

much. very you Thank

Operator

Thank you.

Walmsley Please next Lloyd come from ahead. Bank. will Our go question with Deutsche

Lloyd Walmsley

Thanks. couple. I’ve a got

see And pharmacy that seeing Any stepping then you the cards First, discount advertising impact competitive or environment? just talk the some can talk up seeing? about you’re can would potentially potential for secondly, of you changes share five of you. Thank Anything yourself healthcare like areas price can be grateful. you next period, existing base? there user the year other the you around adding over the transparency product in you’re competitor from new any about any leveraging

Trevor Bezdek

very you Thank Lloyd. much

space And anyway, network currently. consumer, trusted built side, moat historically really – we’ve from advertising, don’t integration. we’ve just central decade seen the have sort capture increased XX a sort where that’s platform deeper or a our really as seen seeing of types what but – is competitive being – but people state, seen of this we’re putting sort that’s decade, we On competitors we’ve to for has feel in some sort pricing the and products. this us for building us the – really lot from better people scale, some that’s lets new like solutions, us. the of a what competitive due any in have the brand we There vast Everything that NPS relationships, now able scalable of impacted of have but we’ve of we’ve this are I that build last majority games we in products. And have just to data, first the cases business these this done we power, the deep of not also spent

and navigate build to affordability, those well offer tools healthcare from to experience make lets each go products the and new consumers better able navigate as users. as and money We’re that more make of consumer more to and more their us

leader create of areas, now have is What this and healthcare across where stack marketplace to looking we – Telehealth healthcare and in that large us a And struggling cycle them. has made in forward. other what there been has these I their it healthcare. see does save see labs in consumers the of we money the afford the really The – that’s general, relative to or on areas. that’s Marketplace far helping continue – to mentioned we this into in of expanded are sort as this sort beginning virtuous So consumers, services where expanded

of And set the these. so across aim provide broad to we health a

rolling in out a So be of five sooner and the much we’ll more sort timeframe years, to period. the year then five address more and than needs products these

Lloyd Walmsley

you Thank right. All guys.

Trevor Bezdek

much. Thank you very

Operator

you. Thank

Evercore Our question with Horowitz ISI. will from come Lee next

Lee Horowitz

adoption one and of delivery done number mail and of windows think Maybe of order believe that both delivery can question. potentially how sort you mail the partners like you competitors be do greater seeing that for short announcements delivery recently. e-commerce important more from Thanks profitably? given are on a do Ultimately, windows Great. order, these

Trevor Bezdek

order, people to like it looks percentage very not much of of a COVID, not than a as for that’s spoke want I to end question. I can’t accelerate go Thank of the causing think more that order on not go subscriptions, really would male sort mail think the Yes, you small be adoption portion as year something of still and able of places. really your Lee much. places the if at that And And to is adoption to yes, mail or really often look you prescriptions. you changed

I think factor, it’s the say, I but would factor. delivery is faster think I the don’t a actually critical

out many, preferred so then make consumers. I situations think a that just one of solution that it’s in lot not it’s for of factor it the

think sort there are low others prescriptions, I yesterday, just the was interest of experience for just was general. of in onboarding, general it trying there general consumer issues so such a as, getting –

that of will think And factors be it’s that make a required I variety so, work. to

For Where consumers mail consumers different are, them providing want us, that’s we services want in well or want to that a other works meet have, partners, where whether want mail, them as to meet go and to we the provide pharmacy they retail business our where from and they they consumers mail, are. these one environments. get we all

Lee Horowitz

question. and of given this on week? around Circling COVID recovery specifically view, back the one can Great. timeline at if much. your with all, consistent comment you’re the have earlier of Any about vaccine vaccine vaccine a prior bit be thinking a your you next now Thanks. would all modeling or talked follow-up recovery? quarter second recovery, feed helpful. the whether in expectations proliferation of the with not this color changed like the vaccine expand it, you Thanks with how on of news but Can pace there generally You third was so about at And year. like the the on expected the

Doug Hirsch

Surely.

gradual the the respect I recovery, think, to would quarter, obviously. change economy open And where all, really fourth a longer-term, doesn’t anything regardless. be I year, think we’d into of in expect with first fully it next

more being a anything versus significant will reaffirms think expectations, vaccine to shift else our itself I reality the our So that than manifest generally. expectations

general, the reopening reopening in discussed. the I looking for year, XQ, also to we’re the into I in economy think to views And think forward and speaking. entirely doesn’t think excited coming So guidance continued see vaccine impact again, we on generally our but think be a I likely modeled potentially further, I

it I expect about. dramatic a don’t impact, have So to we’re beyond thinking what

Trevor Bezdek

certainly been access general, throughout that there we which One have is factors is impacts been there healthcare not of we broadly said – to couple when at period. the this sort good, to sort pharmacies a of has That assumed of look access in is COVID. pretty of that

kind to it now healthcare. providers, just which thing takes healthcare The Second feeling of sort to people we’ve that’s assumed is a going and and to was is good. constrained quite assume, are really have part access – of also get comfortable while of just like continued

out going and high those the get blood people the for people having annual go low to and have blood pressure get things, their it. medication pressure, in finding non-urgent physical and they So

when – a those that. in of Theoretic don’t a to that is But takes more of normal we for of – Those we starts new hopefully back. the news sort that way the of to general in things certainly effect meaningful than general. just sort happens, goes vaccine sooner The what sort come vaccines happens, really possible a just that there. we But lot I’d something one haven’t say related next is that other imagined. think take that year. back to are that real we that And like of assumptions thing to about feel caused activity – when – of certainly in enough to sorts while sort even it in – So vaccine vaccine know amazing. distributed make is a happen the of just any or we of

vaccine spoke flu We to that, the to volume vaccinations, additional vaccine consumers as there help to people is of help quality public want their this opportunity is we’ll eight year. help really the COVID point get then depending partner vaccines, sure of we from I drive probably pharmacies for And year we’ve to the type opportunity about health get a around pharmacies will here help at those. be And important where these we want into the some on to similar for of last really help people those, through help distribution the hopefully able that historically. get to faster side gone pharmacies, a great to does any to get us and get than hopefully, this where pharmacies to I think of partners these expected program, want into the to get access to this two to happen partners, life. And period. are consumers them people have them make recovery

Operator

Thank you.

next question Aaron go Our with Raymond Please ahead. comes James. from Kessler

Aaron Kessler

you quickly Great. just of customers. guys. Maybe on your Thank kind converting

GoodRx, converting not high customers deductible especially more have And has How different sorry with that working work Our thinking as thoughts are maybe survey pretty shown brand high Thank more GoodRx. you. to then as maybe towards move customers promote these they yet. obviously you awareness for of on well. heard plans GoodRx, employers have but of –

Trevor Bezdek

Yes.

there than know that GoodRx, of three, almost among of good it’s of professionals. sort physicians actually physicians, of gain amount awareness I a of patients. more the awareness their our among it’s two brand a think But sort everyone brand consumers. mean, have awareness. in it When to do is, competition to really of high think think what professionals, I we around we huge healthcare to recommend lots we brand most of is a earlier knowing – have among among we brand, awareness not and We we prescriptions, be we So customers think save this additional think there among room get that competition general to and on we actually question, real people that to to opportunity in on those have converting have is – is brand more of pharmacists, healthcare terms – the shoppers. out two-thirds save to on we extremely healthcare of most sort

thinks and consumers really most kind believe the know of can thinks system everyone And of can tools same. help are the just there navigate vary. know consumers everything prescription XX% we don’t them healthcare them of help just – our complex don’t So that we to prices

a So this great is opportunity there.

obviously customers we we the is can gain base. of we’re converting still increasing the customers, across use So so awareness focused user additional there on think, on much but

our on – I not on focused focused employers, think In we we’re terms consumers. of employers, are

at our healthcare of their So we’re look are of But forms uniquely really with market that And good is consumers are working all is users we experience, those think we at we plus have are look at our we experience, healthcare uniquely reaching think than something speaking healthcare, Medicare. do we to at companies in consumers when then working our users, of the with in insurance, plenty and their for have terms employers. that really users tools XX% insurance, – at consumers there focus. when third of to good of and a about good providing our HDHPs, more have there

So across commercial not again it’s just this user, see – the insurance, we all an good not HDHP usage. is –

to to We value across deliver add more users in to opportunity. new services, our really points, journey. entry build add healthcare want really really product products, there we a great invest So more to is continue just want their big

set doing extend platform just and across of in the healthcare – excited made work super of broadly sort to increase increase penetration we’re now everyone – and So the them the offer – sort QX awareness progress all experience we’ve broad about make of just the consumers increase and better. we’re

Aaron Kessler

Thank it. you. Got

Trevor Bezdek

Thank much. you very

Operator

final go today’s will with come Thank And you. from ahead. Stephanie Davis Please question SVB.

Stephanie Davis

at quarter public first strong a guys. the on gate congratulations Hey,

Trevor Bezdek

much. very you Thank

Stephanie Davis

takes puts specific. would you comment price the in about market, transparency? on the you and maybe CMS’s on rule? on Could Not just increased how competitive and your but dynamics think coverage transparency And those

Trevor Bezdek

you Sure. And thank very Stephanie the much for question.

see what public, transparency of costs people what We that regulators, the and are – consumers. want – When what as want lower want really to out-of-pocket anything the increase we they in favor for to people lawmaker, what transparency.

something that wants. are variety with we are the – we which this are – those specifically our opportunities And new new we we things to we aligned we consumers. good some In other think opens portions think only of and transparency, And definitely And and country for us the think fits that. want, good. really of business. sort think We And it’s I regards there around in up entirely a business, the for think we rules are our ability are solutions that think want deliver think a it so is of it’s those into to our as healthcare. goals overall the I things just these

just the to all all this overall leading opportunity for affordable healthcare. huge are and healthcare navigate of we early digital to it’s points consumers of to for help goals at be deliver them platform this Our it. are And a

So we’re direction being excited transparency available. the that pricing, of larger same more trends in are also more pushing

we’ve these strong And as we’re in. so just continuing the that profitable been new as, opportunities, to growth, able we’re deliver well excited capture to to businesses in

Stephanie Davis

much. Thank very you

Karsten, follow-up him time just I quick air some give to Now have too. a for

out sequential drove uncertainty step in implies Is driving a to holding around equal, in it pretty back else that. all metric? On that just up some XQ down guidance it pandemic, healthy working the there or Mac XQ that is the call anything

Karsten Voermann

Sure. question, an Stephanie, thanks and for the to giving opportunity talk. me Thanks here for

because bit we is going Monthly primarily increased that the that a that, third because on We just quarter our a think though, forecasting the tough continue of as visits more to that quarter the a of XQ for access Trevor quarter And Q-o-Q, bit prescriptions got of COVID-XX than see benefit through in that quarter impact we forward. doctor the such about impact rebound the gradual a in the a little of and market of COVID. bit. rebound realistically, improvement improved. offering we’re talked XX% active consumers the I When in activity is one prescription about third about think

going more XX% X% up sort growth Y-o-Y, So instantaneously. as as see we see X% growth, translates look not economy open gradual and of fashion forward, we we to to even in nice still Mac which forward, a about the

constant. Of stay on course, things seems front it fairly COVID also the

recurring where significantly rapid because growth revenue continue in nature growth we lines, other to the of have other reality in revenue the part, that fact and total expect because prescriptions, helpful, the of of that intersecting an our that faster, the growth, meaning growth given frankly, part, our we think entry I is the to this and that’s of player. And most reality offerings versa. from space, benefit largest point prescriptions has market of in a the for share the of general Telehealth all relative in vice way

than All Mac helping drive of those growth. revenue faster things are us to growth even

should offering. I our remind think prescriptions Macs of the other that thing folks probably too, users the which of generally are I is

fourth Hope have. do counts of of part great growing, subscriptions the quite the a expand question, part those part not per we continues a count, and modeled is AC as cetera, Stephanie, et count which offering again thanks have subscribers, form of it’s Mac reason, for our the like that’s things out – and So the core the quarter helpful, like for to Mac we quickly also reason revenue Mac

Operator

gentlemen, today’s question-and-answer and today’s participating in as This today’s program. thank call. Ladies you conference for as well concludes session,

all may and wonderful day. You disconnect a now have

GoodRx (GDRX) 13 Nov 202020 Q3 Earnings call transcript