GoodRx says first-half 2026 revenue was understated by up to $29.8 million, plans to restate accounts

GoodRx Holdings, Inc. disclosed in the 8-K filed on 2 November 2026 that its Audit and Risk Committee, after discussion with management and auditor KPMG LLP, concluded on 27 October 2026 that condensed consolidated financial statements for the quarter ended 31 March 2026 and the quarter and six months ended 30 June 2026 should no longer be relied upon. The filing attributes the error to understatement of Pharma Direct revenue under Accounting Standards Codification 606, and extends the non-reliance to previously issued press releases, earnings releases and investor presentations covering those periods.

According to the filing, Pharma Direct revenue for the quarter ended 31 March 2026 is now expected to rise from $52,230,000 as reported to $59,730,000, an adjustment of $7,500,000; total revenue for that quarter rises from $194,006,000 to $201,506,000; operating income rises from $14,009,000 to $19,319,000; and net income rises from $1,169,000 to $4,960,000, with basic and diluted earnings per share moving from $0.00 to $0.01.

For the quarter ended 30 June 2026, the filing shows Pharma Direct revenue rising from $61,628,000 to $83,901,000, an adjustment of $22,273,000, with total revenue moving from $200,411,000 to $222,684,000, operating income from $23,632,000 to $38,509,000, and net income from $8,536,000 to $19,592,000. Basic and diluted earnings per share for the quarter move from $0.03 to $0.06. For the six months ended 30 June 2026, Pharma Direct revenue rises from $113,858,000 to $143,631,000, an adjustment of $29,773,000, total revenue from $394,417,000 to $424,190,000, operating income from $37,641,000 to $57,828,000, and net income from $9,705,000 to $24,552,000, with basic and diluted earnings per share moving from $0.03 to $0.07.

The filing states these amounts are preliminary and subject to change as the company completes its review and restatement process, and that the company has not identified any impact on financial statements for periods prior to fiscal year 2026. GoodRx says it is working to file amended Forms 10-Q for the affected periods as soon as practicable and expects to report that one or more material weaknesses in internal control over financial reporting existed as of the end of each affected period. The filing does not state when the restated 10-Qs will be filed or give a final figure for the restatement adjustments.

SEC EDGAR records show GoodRx filed the original 10-Q covering the quarter ended 31 March 2026 on 6 May 2026 and the 10-Q covering the quarter ended 30 June 2026 on 5 August 2026, the two filings now affected by the non-reliance determination. EDGAR records also show an 8-K reporting an auditor change was filed on 18 March 2026, separate from the restatement disclosure.