Healthcare tech company GoodRx (NASDAQ: GDRX) reported Q2 CY2026 results exceeding the market’s revenue expectations, but sales fell by 1.3% year on year to $200.4 million. The company’s full-year revenue guidance of $797.5 million at the midpoint came in 2.8% above analysts’ estimates. Its non-GAAP profit of $0.08 per share was in line with analysts’ consensus estimates.
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GoodRx (GDRX) Q2 CY2026 Highlights:
- Revenue: $200.4 million vs analyst estimates of $193.6 million (1.3% year-on-year decline, 3.5% beat)
- Adjusted EPS: $0.08 vs analyst estimates of $0.08 (in line)
- Adjusted EBITDA: $63.74 million vs analyst estimates of $59.8 million (31.8% margin, 6.6% beat)
- The company lifted its revenue guidance for the full year to $797.5 million at the midpoint from $775 million, a 2.9% increase
- EBITDA guidance for the full year is $245 million at the midpoint, above analyst estimates of $238.3 million
- Operating Margin: 11.8%, down from 13.2% in the same quarter last year
- Free Cash Flow Margin: 22.9%, down from 24.2% in the same quarter last year
- Market Capitalization: $1.11 billion
Company Overview
Started in 2011 to tackle the problem of high prescription drug costs in America, GoodRx (NASDAQ: GDRX) operates a digital platform that helps consumers find lower prices on prescription medications through price comparison tools and discount codes.
Revenue Growth
A company’s long-term sales performance can indicate its overall quality. Any business can put up a good quarter or two, but the best consistently grow over the long haul. Unfortunately, GoodRx’s 4.5% annualized revenue growth over the last five years was mediocre. This fell short of our benchmark for the healthcare sector and is a tough starting point for our analysis.
Long-term growth is the most important, but within healthcare, a half-decade historical view may miss new innovations or demand cycles. GoodRx’s recent performance shows its demand has slowed as its revenue was flat over the last two years. 
This quarter, GoodRx’s revenue fell by 1.3% year on year to $200.4 million but beat Wall Street’s estimates by 3.5%.
Looking ahead, sell-side analysts expect revenue to remain flat over the next 12 months. This projection is underwhelming and implies its newer products and services will not lead to better top-line performance yet.
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Adjusted Operating Margin
Adjusted operating margin is one of the best measures of profitability because it tells us how much money a company takes home after subtracting all core expenses, like marketing and R&D. It also removes various one-time costs to paint a better picture of normalized profits.
GoodRx has been an efficient company over the last five years. It was one of the more profitable businesses in the healthcare sector, boasting an average adjusted operating margin of 24.3%.
Analyzing the trend in its profitability, GoodRx’s adjusted operating margin decreased by 4 percentage points over the last five years. The company’s two-year trajectory also shows it failed to get its profitability back to the peak as its margin fell by 1.4 percentage points. This performance was poor no matter how you look at it - it shows its expenses were rising and it couldn’t pass those costs onto its customers.
This quarter, GoodRx generated an adjusted operating margin profit margin of 22.1%, down 3.7 percentage points year on year. This contraction shows it was less efficient because its expenses increased relative to its revenue.
Earnings Per Share
We track the long-term change in earnings per share (EPS) for the same reason as long-term revenue growth. Compared to revenue, however, EPS highlights whether a company’s growth is profitable.
GoodRx’s flat EPS over the last five years was below its 4.5% annualized revenue growth. This tells us the company became less profitable on a per-share basis as it expanded due to non-fundamental factors such as interest expenses and taxes.
We can take a deeper look into GoodRx’s earnings to better understand the drivers of its performance. As we mentioned earlier, GoodRx’s adjusted operating margin declined by 4 percentage points over the last five years. This was the most relevant factor (aside from the revenue impact) behind its lower earnings; interest expenses and taxes can also affect EPS but don’t tell us as much about a company’s fundamentals.
In Q2, GoodRx reported adjusted EPS of $0.08, down from $0.09 in the same quarter last year. This print was close to analysts’ estimates. Over the next 12 months, Wall Street expects GoodRx’s full-year EPS to grow 6.5% from $0.32 to $0.34.
Key Takeaways from GoodRx’s Q2 Results
It was great to see GoodRx’s full-year revenue guidance top analysts’ expectations. We were also glad its revenue outperformed Wall Street’s estimates. Zooming out, we think this was a good print with some key areas of upside. The stock traded up 5.4% to $3.45 immediately after reporting.
Sure, GoodRx had a solid quarter, but if we look at the bigger picture, is this stock a buy? We think that the latest quarter is only one piece of the longer-term business quality puzzle. Quality, when combined with valuation, can help determine if the stock is a buy. We cover that in our actionable full research report which you can read here (it’s free).
