The news: GoodRx reported a net loss of $1.4 million in Q2. That’s a 105% decrease in net income compared with the $31.1 million the company earned during Q2 of last year.
How we got here: The drug discount platform attributed its year-over-year decreases partially to costs of its recent vitaCare acquisition and the loss of a big customer.
The bigger picture: GoodRx says it resolved its issue with the grocery store customer, which means revenues could rise again this year.
This won’t be immediate, though. GoodRx doesn't expect a “meaningful volume or revenue lift” in Q3 based on the rollout timeline of communication with the grocer, new user adoption, and returning user levels.
The silver lining: Consumers are becoming more conservative with their purchases in the era of uncertainty, which could actually make drug discount platforms like GoodRx even more popular this year.
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