GoodRx Holdings Inc
For the period ended Dec 31, 2024. Filed Feb 27, 2025.
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FY2024 · Filed Feb 27, 2025
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Item 8. Consolidated Statements of Cash Flows
Consolidated Statements of Cash Flows
| Year Ended December 31, | |||
|---|---|---|---|
| (in thousands) | 2024 | 2023 | 2022 |
| Cash flows from operating activities | |||
| Net income (loss) | $16,390 | $(8,868) | $(32,828) |
| Adjustments to reconcile net income (loss) to net cash provided by operating activities: | |||
| Depreciation and amortization | 69,538 | 107,668 | 54,177 |
| Loss on extinguishment of debt | 2,077 | — | — |
| Amortization of debt issuance costs | 2,497 | 3,382 | 3,413 |
| Non-cash operating lease expense | 4,184 | 4,104 | 3,349 |
| Stock-based compensation expense | 99,026 | 104,820 | 120,234 |
| Change in fair value of contingent consideration | — | — | 18,057 |
| Deferred income taxes | (11,914) | (65,562) | (497) |
| Gain on sale of business | — | — | (11,404) |
| Loss on operating lease assets | — | 1,353 | 12,569 |
| Loss on disposal of capitalized software | — | 7,975 | — |
| Loss on minority equity interest investment | — | 4,008 | — |
| Other | — | 1,348 | — |
| Changes in operating assets and liabilities, net of effects of business acquisitions | |||
| Accounts receivable | (2,326) | (26,467) | 1,375 |
| Prepaid expenses and other assets | 6,327 | (32,162) | (13,644) |
| Accounts payable | (21,241) | 17,456 | (874) |
| Accrued expenses and other current liabilities | 25,709 | 21,253 | (5,268) |
| Operating lease liabilities | (4,953) | (2,930) | (4,004) |
| Other liabilities | (1,422) | 914 | 2,125 |
| Net cash provided by operating activities | 183,892 | 138,292 | 146,780 |
| Cash flows from investing activities | |||
| Purchase of property and equipment | (1,240) | (1,043) | (3,967) |
| Acquisitions, net of cash acquired | — | — | (156,853) |
| Capitalized software | (69,107) | (54,723) | (51,247) |
| Investment in minority equity interest | — | — | (15,007) |
| Proceeds from sale of business | — | — | 16,576 |
| Net cash used in investing activities | (70,347) | (55,766) | (210,498) |
| Cash flows from financing activities | |||
| Proceeds from long-term debt | 472,033 | — | — |
| Payments on long-term debt | (639,038) | (5,271) | (7,029) |
| Payments of debt issuance costs | (2,673) | — | — |
| Repurchases of Class A common stock (1) | (158,845) | (103,974) | (101,721) |
| Proceeds from exercise of stock options | 19,046 | 5,941 | 9,159 |
| Employee taxes paid related to net share settlement of equity awards | (29,784) | (65,481) | (20,635) |
| Proceeds from employee stock purchase plan | 1,766 | 1,390 | — |
| Net cash used in financing activities | (337,495) | (167,395) | (120,226) |
| Net change in cash and cash equivalents | (223,950) | (84,869) | (183,944) |
| Cash and cash equivalents | |||
| Beginning of period | 672,296 | 757,165 | 941,109 |
|---|---|---|---|
| End of period | $448,346 | $672,296 | $757,165 |
| Supplemental disclosure of cash flow information | |||
|---|---|---|---|
| Income tax paid, net | $23,623 | $17,243 | $4,356 |
| Interest paid | 55,099 | 48,799 | 30,702 |
| Non cash investing and financing activities: | |||
| Right-of-use assets obtained in exchange for new operating lease liabilities | 2,049 | 52 | 22,491 |
| Stock-based compensation included in capitalized software | 16,124 | 13,144 | 8,969 |
| Capitalized software included in accounts payable and accrued expenses and other current liabilities | 8,118 | 7,826 | 4,176 |
| Capitalized software transferred from prepaid assets | — | 5,751 | — |
(1)Repurchases of Class A common stock for the year ended December 31, 2024 and 2023 include 20.9 million and
12.0 million shares repurchased from related parties (after giving effect to the automatic conversion of Class B
common stock to Class A common stock upon such repurchase) for an aggregate consideration of$151.4 million,
and$65.9 million, respectively. See "Note 14. Stockholders' Equity" for additional information.
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