GoodRx (GDRX) Q2 2026 earnings summary

Executive summary

• Q2 2026 revenue was $200.4 million, down 1% year-over-year, with net income of $8.5 million (4.3% margin) and adjusted EBITDA of $63.7 million (31.8% margin); Pharma Direct and subscriptions outperformed, offsetting a 26% decline in prescription transactions revenue.

• Strategic focus on scaling Pharma Direct and subscriptions, with new offerings like GoodRx Companion launched in May and deliberate investment shifts impacting near-term unit economics.

• Management raised full-year 2026 revenue and adjusted EBITDA guidance based on strong first-half results and positive business trends.

• Leadership transition: Justin Fengler appointed as CFO, bringing deep company and financial expertise.

• Market changes, including retail pharmacy closures and new government initiatives, are impacting consumer behavior and revenue streams.

Financial highlights

• Q2 2026 revenue: $200.4 million (down from $203.1 million in Q2 2025); net income: $8.5 million (down from $12.8 million); adjusted EBITDA: $63.7 million (31.8% margin, down from 34.2%).

• Pharma Direct revenue: $61.6 million, up 76% year-over-year; subscription revenue: $28.5 million, up 39% year-over-year; prescription transactions revenue: $106.4 million, down 26% year-over-year.

• Monthly Active Consumers: 5.0 million as of June 30, 2026, down from 5.7 million a year earlier.

• Net cash from operating activities: $80.8 million in Q2 2026, up from $49.6 million in Q2 2025.

Outlook and guidance

• Full-year 2026 revenue guidance raised to $790–$805 million; adjusted EBITDA guidance raised to $240–$250 million.

• Pharma Direct revenue now expected to grow over 70% year-over-year.

• Near-term pressure on Monthly Active Consumers, prescription transactions revenue, and unit economics is expected to continue through 2026 as the business invests in Pharma Direct and subscriptions.

• Management expects to return to year-over-year revenue growth earlier than previously anticipated.