GoodRX Holdings has filed an S-1 form with the U.S. Securities and Exchange Commission (SEC) for its initial public offering. The company did not mention any pricing information in the filing, but the offering is valued up to $100 million. The company intends to list its shares on the Nasdaq under the symbol GDRX.
The underwriters for the offering are Morgan Stanley, Goldman Sachs, JPMorgan, Barclays, BofA Securities, Citigroup, Credit Suisse, RBC Capital Markets, UBS Investment Bank, Cowen, Deutsche Bank, Evercore ISI, Citizens Capital Markets, KKR, LionTree, Raymond James, SVB Leerink, Academy Securities, Loop Capital Markets, R. Seelaus and Ramirez.
This company provides Americans will health care services and prescriptions through its digital platform. Essentially, this platform connects consumers with affordable and convenient health care products and services. These include telehealth, mail-order prescriptions, doctor visits and lab tests.
The company boasted 4.4 million monthly active consumers and 15 million monthly visitors for the second quarter of 2020. There was roughly $20 billion of cumulative consumer savings generated for GoodRx consumers.
On average, GoodRX has been the most downloaded medical app on the Apple App Store and Google Play App Store for the past three years. The GoodRx app had a rating of 4.8 out of 5.0 stars in the Apple App Store and 4.7 out of 5.0 stars in the Google Play App Store.
The gross merchandise value generated by the prescription offering, which accounts for the vast majority of GoodRX’s revenue, was $2.5 billion in 2019. The firm’s revenue has grown at a compound annual growth rate of 57% since 2016 and reached $388 million in 2019, up from $250 million in 2018.
The company intends to use the net proceeds from this offering to grow the business and for general corporate purposes.
Take Charge of Your Retirement In Just A Few Minutes (Sponsor)
Retirement planning doesn’t have to feel overwhelming. The key is finding expert guidance—and SmartAsset’s simple quiz makes it easier than ever for you to connect with a vetted financial advisor.
Here’s how it works:
- Answer a Few Simple Questions. Tell us a bit about your goals and preferences—it only takes a few minutes!
- Get Matched with Vetted Advisors Our smart tool matches you with up to three pre-screened, vetted advisors who serve your area and are held to a fiduciary standard to act in your best interests. Click here to begin
- Choose Your Fit Review their profiles, schedule an introductory call (or meet in person), and select the advisor who feel is right for you.
Why wait? Start building the retirement you’ve always dreamed of. Click here to get started today!
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
Our expert who first called NVIDIA in 2009 is predicting 2025 will see a historic AI breakthrough.
You can follow him investing $500,000 of his own money on our top AI stocks for free.