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GoodRx Holdings, Inc.
11/12/2020
Well, ladies and gentlemen, thank you for standing by, and welcome to the GoodRx third quarter 2020 earnings call. As a reminder, today's conference call is being recorded. I would now like to introduce your host for today's call, Whitney Notaro, Vice President of Investor Relations. Ms. Notaro, you may begin.
Thank you, Operator. Good morning, everyone, and welcome to GoodRx's earnings conference call for the third quarter of 2020, our first call as a public company. Joining me today are Doug Hirsch and Trevor Bezdak, our co-founders and co-chief executive officers, and Karsten Vorman, our chief financial officer. Before we begin, I'd like to remind everyone that this call will contain forward-looking statements. All statements made on this call that do not relate to matters of historical fact should be considered forward-looking statements. including statements regarding management's plans, strategies, goals, and objectives, our market opportunity, our anticipated financial performance, and the expected impact of COVID-19 on our business. These statements are neither promises nor guarantees, but involve known and unknown risks, uncertainties, and other important factors that may cause our actual results, performance, or achievements to be materially different from any future results, performance, or achievements expressed or implied by the forward-looking statement. Factors discussed in the risk factor sections of our quarterly report on Form 10-Q for the quarter ended September 30, 2020, and our final IPO prospectus filed with the SEC on September 24, 2020, and our other filings with the Securities and Exchange Commission could cause actual results to differ materially from those indicated by the forward-looking statements made on this call. Any such forward-looking statements represent management's estimates as of the date of this call, and we disclaim any obligation to update these statements, even if subsequent events cause our views to change. In addition, we may also reference certain non-GAAP metrics, which are reconciled to the nearest GAAP metric in a company's shareholder letter, which can be found on the overview page of our investor relations website at investors.goodrx.com. I'd also like to remind everyone that a replay of this call will become available there shortly as well. With that, I'd like to turn the call over to Doug.
Thank you, Whitney, and thank you, everyone, for joining us this morning. I hope you and your families are safe and well. We are pleased to report our first quarterly results as a public company. I want to thank our new shareholders for their confidence in our company and our covering analysts for performing such thoughtful and thorough research. I'd also like to thank the amazing GoodRx team for all their hard work and especially throughout our recent IPO. As this is our first earnings call, I want to spend a few minutes emphasizing what drives us to build America's best consumer healthcare platform. I will then turn the call over to Trevor, who will address key highlights from the quarter and trends in our business. Then, Karsten will discuss our financial results and guidance. GoodRx helps Americans get the healthcare they need at a price they can afford. Trevor and I started GoodRx to provide affordable and accessible healthcare, information and guidance to demystify an incredibly complex industry and perhaps most importantly, to simply help people who have nowhere else to turn. For too many, healthcare in the U.S. is expensive, complicated, and confusing. Every year, Americans pay more out-of-pocket costs and face new insurance hurdles and restrictions. Too many families are uninsured or underinsured, forcing them to make painful sacrifices just to stay healthy. Lack of affordability in healthcare is a key reason why Americans don't get the care they need, which causes massive negative impacts across our entire nation. We believe GoodRx can solve these problems. We can provide a better way for people to understand, access, and afford quality healthcare. This is what drives us every day. We're on the heels of a presidential election where healthcare policy became the single most important issue facing our nation. Much of our economy remains on hold because of the COVID-19 pandemic, while our medical professionals work heroically to provide care. The world is relying on our healthcare industry to provide accessible vaccines and treatments to protect lives and the global economy. I am proud to be joined by a growing team of talented, passionate colleagues who are focused on providing assistance to Americans through this pandemic, unemployment, changes to insurance, and federal and state laws. We have come a long way in the decades since Trevor and I started GoodRx. I'm proud to report that we've reached a number of major milestones in the last few months. We reached $25 billion in cumulative consumer savings. We extended Hey Doctor, our telehealth service. to offer online medical professional visits for over 150 conditions in all 50 states at a price that is often less than a typical insurance copay. We introduced affordable home delivery for hundreds of prescriptions, and we launched GoodRx Helps, our philanthropic initiative, to provide free medications at more than 20 clinics across America. There's still so much that needs to be done to fix America's broken healthcare system. We believe that the pandemic has accelerated long-needed changes to the way Americans find and receive healthcare. Millions of Americans have embraced telemedicine home delivery. Millions more are turning to the Internet to learn about their care and their choices available to them. Across the healthcare ecosystem, long hidden information is flowing more freely and patients are being empowered to own their healthcare journey. Providers are learning that treatments and prescriptions don't work if patients can't afford them. The old model is broken and Americans are ready to embrace a new, better way to stay healthy. We intend to run toward this opportunity. We will continue to invest our strong cash flow in our platform, product, user experience, and brand with the goal of creating the best consumer experience and major improvements to healthcare affordability and access for all Americans. We are building much more than a company. We are building the leading consumer-focused digital healthcare platform in the United States. Our impact will ultimately be measured by the lives we positively impact and the care we provide. We have never been more motivated. And with that, I'll turn it over to Trevor.
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