GoodRx Holdings Inc Q3 2023 Earnings Call Transcript

The following is excerpted from the question-and-answer section of the transcript.

Question: Jailendra P. Singh - Truist Securities, Inc., Research Division - Analyst : First, a quick clarification, Scott. I think you mentioned that ISP programs will drive more volumes for PBM. I really couldn't follow because if there's no cannibalization happening, then why will -- I mean, I'm assuming these scripts are already flowing through PBMs. Why will we -- why will they see more volumes? Maybe clarify that. But my main question is on 2024 revenue growth expectations, 2% to 5%. I understand it's preliminary, but the big delta compared to where consensus is. So I know you're not quantifying ISP contribution yet, but can you confirm if you're reflecting any benefit there or will that be incremental to that outlook? Maybe talk about some other headwind, tailwind because, I mean, given all the headwinds you're facing this year in ISP, we were expecting growth to be at least higher than 2% to 5%. Maybe clarify more. Just some color- there.

Question: Lisa Christine Gill - JPMorgan Chase & Co, Research Division - Analyst : Scott, I want to go back to ISP for a minute and just make sure that I understand something. The way I understand it in talking to the PBM is that because we're talking about primarily high deductible plans, so going back to your comment, people are not being able to afford the drug, many times, they forgo the drug. But my understanding from the PBMs is that each employer will have to opt into this program and that's what's going to take time. So as we think about plan design for 2024, will they notify you, say, in the next couple of months, so we'll have an idea when you give guidance in 2024? Or will this be kind of plans rolling on as we move throughout 2024? That would be my first question. And then secondly, when I think about the margin for ISP, is it similar to what you see today in Rx transactions?