Finance
GoodRx vs. Hims & Hers Health: Stagnation vs. Growth in Revenue
GoodRx (NASDAQ:GDRX) primarily generates revenue by offering a price comparison tool that helps consumers find geographically relevant pricing and access negotiated discounts on prescription drugs across the United States.
While expanding its offerings to include new weight-loss medications and navigating a rejected privacy settlement in federal court, it reported about 21% EBIT margin for the quarter ended Dec. 31, 2025.
Hims & Hers Health (NYSE:HIMS) earns its revenue by operating a telehealth network that connects consumers to licensed healthcare professionals, providing medical consultations and ongoing prescription medication subscriptions directly to customers.
Quarterly filings reveal markedly different revenue trajectories and margin profiles for these two healthcare platforms. What do their latest numbers indicate?
GoodRx: Flat Revenue Trends
GoodRx (GDRX +2.82%) primarily generates revenue by offering a price comparison tool that helps consumers find geographically relevant pricing and access negotiated discounts on prescription drugs across the United States.
While expanding its offerings to include new weight-loss medications and navigating a rejected privacy settlement in federal court, it reported about 21% EBIT margin for the quarter ended Dec. 31, 2025.
Hims & Hers Health: Sequential Revenue Growth
Hims & Hers Health (HIMS +10.86%) earns its revenue by operating a telehealth network that connects consumers to licensed healthcare professionals, providing medical consultations and ongoing prescription medication subscriptions directly to customers.
It shifted its strategy to collaborate with a major pharmaceutical manufacturer and faced several shareholder investigations, while generating approximately 72% gross margin for the quarter ended Dec. 31, 2025.
Why Revenue Matters for Retail Investors
Revenue here refers to the data provider’s standardized income-statement revenue line item, and it serves as a straightforward indicator of overall consumer demand that helps investors evaluate whether a business is successfully attracting and retaining users.
Quarterly Revenue for GoodRx and Hims & Hers Health
| Quarter (Period End) | GoodRx Revenue | Hims & Hers Health Revenue |
|---|---|---|
| Q1 2024 (March 2024) | $197.9 million | $278.2 million |
| Q2 2024 (June 2024) | $200.6 million | $315.6 million |
| Q3 2024 (Sept. 2024) | $195.3 million | $401.6 million |
| Q4 2024 (Dec. 2024) | $198.6 million | $481.1 million |
| Q1 2025 (March 2025) | $203.0 million | $586.0 million |
| Q2 2025 (June 2025) | $203.1 million | $544.8 million |
| Q3 2025 (Sept. 2025) | $196.0 million | $599.0 million |
| Q4 2025 (Dec. 2025) | $194.8 million | $617.8 million |
Data source: Company filings.
Foolish Take
The top-line stagnation that has been frustrating GoodRX investors did not improve during the first three months of 2026. On May 6, the medication savings platform reported first-quarter sales that declined by 4.4% year over year to $194 million.
Revenue dropped, but GoodRx’s pharma direct business is encouraging investors. The stock rose more than 10% following its first-quarter report. Shareholders seem pleased with an 82% year-to-year gain for the company’s Pharma Direct business. At $52 million, the Pharma Direct business is responsible for about 27% of total revenue.
With the average annual cost for a family health plan reaching $27,000 in 2026, fewer Americans have access to a primary care physician. The rising cost of traditional access to prescription drugs has been a strong tailwind for Hims & Hers Health’s alternative platform.
His & Hers will announce first-quarter results on May 11, 2026. In the fourth quarter of 2025, the company reported 13% year over year subscriber growth. With fourth-quarter revenue that surged 59% year over year, it’s clearly outperforming GoodRx.