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# GoodRx Says Revenue For Two 2026 Quarters Was Understated By $29.77 Million
- URL: https://www.bullished.co/goodrx-says-revenue-for-two-2026-quarters-was-understated-by-29-77-million-0eea5a4a/
- Published: 2026-11-02T21:43:03.000Z
- Updated: 2026-11-02T21:43:03.000Z
- Description: The board's audit committee says first- and second-quarter results should no longer be relied upon, and material weaknesses are expected.
- Author: Matteo Parrino
- Tags: Earnings, GDRX, Industry: Healthcare

GoodRx, which runs a digital platform that helps Americans find lower prescription prices, said its financial statements for the quarters ended March 31 and June 30, 2026 should no longer be relied upon because it understated Pharma Direct revenue, according to an [8-K filed Monday](https://www.sec.gov/Archives/edgar/data/0001809519/000180951926000184/gdrx-20261027.htm?ref=bullished.co). Preliminary restated six-month revenue is $424.19 million, against $394.42 million as reported.

## A $29.77 million revenue correction

The company's Audit and Risk Committee reached the conclusion on October 27, after talking with management and its auditor, KPMG. Earlier reports, earnings releases and investor presentations covering those periods should also no longer be relied upon, the company said.

GoodRx said a portion of revenue tied to certain Pharma Direct transactions was [not recognized](https://www.sec.gov/Archives/edgar/data/0001809519/000180951926000184/gdrx-20261027.htm?ref=bullished.co) in the period where it belonged under accounting standard ASC 606\. It has not identified any effect on periods before fiscal 2026.

Pharma Direct revenue for the six months rises to $143.63 million from $113.86 million. The second quarter carries most of the correction: $22.27 million, versus $7.5 million in the first quarter.

## Profit takes a bigger hit than revenue

The revenue fixes flow down to earnings. Six-month operating income moves to $57.83 million from $37.64 million, and net income to $24.55 million from $9.71 million.

For the second quarter alone, net income is preliminarily $19.59 million, up from $8.54 million as reported, a $11.06 million adjustment. First-quarter net income moves to $4.96 million from $1.17 million. Diluted earnings per share for the six months go to $0.07 from $0.03.

The figures are preliminary and could change as the review continues, the company said.

## Controls and the amended filings

GoodRx said it expects to report one or more material weaknesses in internal control over financial reporting as of the end of each affected period. It is also assessing what the restatement means for its conclusions on disclosure controls.

The company plans to file amended Forms 10-Q for both quarters as soon as practicable. The revenue recognition review by the Audit and Risk Committee is ongoing.

GoodRx earns most of its revenue from pharmacy benefit managers and partner pharmacies, which pay it when a consumer fills a prescription with a GoodRx code. Pharma Direct is its business selling advertising and savings programs to drugmakers.

The amended 10-Qs will set the final restated numbers and the company's internal-control conclusions.

Learn

- [Item 4.02: non-reliance on previously issued financial statements →](https://www.bullished.co/learn/8-k-items-explained/#item-402-non-reliance-on-previously-issued-financial-statements)  
From 8-K Items Explained: What Every Item Code From 1.01 To 9.01 Tells You, With Examples

### Sources

- [8-K Filing — GoodRx Holdings, Inc. (GDRX)](https://www.sec.gov/Archives/edgar/data/0001809519/000180951926000184/gdrx-20261027.htm?ref=bullished.co) — SEC EDGAR
- [GoodRx Launches Employer Direct Weight Loss Offering – Company Announcement - FT.com](https://markets.ft.com/data/announce/detail?dockey=600-202610290915BIZWIRE%5FUSPRX%5F%5F%5F%5F20261029%5FBW410878-1&ref=bullished.co) — Financial Times