Aug 28, 2020 - Economy & Business

GoodRx files for IPO

A dollar sign made of pills

Illustration: Lazaro Gamio/Axios

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.

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