Fourth Quarter 2023
Full Year 2023
“We are encouraged by the preliminary fourth quarter results and the progress we continue to make against our priorities. There is exciting work underway and we expect to build on our accelerating momentum in 2024,” said Karsten Voermann, Chief Financial Officer. “While our line of sight into the first quarter is limited being only a few days in, we’re pleased with our initial trajectory. Based on our expectations today, we’re confident that first quarter and full year 2024 revenue and Adjusted Revenue4 will grow mid-single digit percentages year-over-year and Adjusted EBITDA Margin5 will be in the high twenty-percent range for both periods. We look forward to providing fulsome first quarter and 2024 guidance on our fourth quarter earnings call in February.”
Preliminary Fourth Quarter and Full Year 2023 Financial Results
Fourth quarter and full year 2023 revenue and Adjusted Revenue1,2 is expected to exceed the November guidance range. Fourth quarter revenue and Adjusted Revenue1,2 is expected to be in the range of approximately $195 million to $197 million, an increase of approximately 6% to 7% year-over-year. Full year 2023 revenue1,2 is expected to be in the range of approximately $749 million to $751 million, a decrease of approximately 2% year-over-year. Full year 2023 Adjusted Revenue1,2 is expected to be in the range of approximately $759 million to $761 million, a decrease of approximately 1% year-over-year. The increase in fourth quarter revenue and Adjusted Revenue1,2 was primarily driven by organic growth in Prescription Transactions Revenue.
Fourth quarter revenue and Adjusted Revenue1,2 outperformance relative to our November guidance was primarily attributable to higher growth in Prescription Transactions Revenue reflecting stronger seasonal respiratory illness impacts, milder weather conditions, and quarter-specific favorability related to certain client contracts.
Fourth quarter and full year 2023 Adjusted EBITDA Margins2,3 are expected to be on the upper end of the November guidance ranges. The increase in fourth quarter Adjusted EBITDA Margin2,3 relative to our November guidance was primarily attributable to the increase in revenue and Adjusted Revenue
The Company is scheduled to participate in a fireside chat at the 42nd Annual J.P. Morgan Healthcare Conference today, January 10, 2024, at 8:15 a.m. Pacific Time (11:15 a.m Eastern Time). The live webcast will be available on the Company's Investor Relations website, https://investors.goodrx.com/. Following the conference, an archived recording will be available on the Company’s website for at least 30 days.
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