Aug 28, 2020 - Economy

GoodRx files for IPO

GoodRx, a Santa Monica, California-based telemedicine and drug discount company, has filed to go public on the Nasdaq under the symbol "GDRX."

Why it matters: The company is among a flurry of tech firms that have recently filed to go public — and it's actually profitable.

By the numbers:

GoodRx generated $388 million in revenue in 2019, up from $250 million the year prior.

Its net income was $66 million in 2019, up from $44 million in 2018. In the first half of 2020 GoodRx generated $257 million in revenue, up from $173 million in the first half of 2019. During that same period, it had a net income of $55 million, up from $31 million in the first half of 2019.

The company says its mobile app has 4.9 million monthly active users.
The biggest shareholders are Silver Lake, Francisco Partners, Spectrum Equity and GoodRx's co-CEOs and co-founders.

Of note: The filing also comes as a big win for the Los Angeles area tech scene.