GoodRX Holdings [GDRX] - Last Close: $7.76
GoodRX is taking off on the back of its strong quarterly numbers.
The prescription discount app reported its Q2 earnings early this morning, and the numbers were better than expected.
GoodRX's adjusted Q2 earnings of $0.06 per diluted share were down from last year, but still topped the Street's $0.04 target by a 50% margin.
Revenues grew 8.6% from last year to $191.8 million for the quarter, beating the consensus estimate of $184.7 million.
GoodRX's Q3 guidance was in line with analysts' estimates.
GDRX is one of today's top performers with a 38.7% premarket gain.
My Take: GoodRX could be an interesting recession play. The company isn't profitable on paper, but it could see a huge influx of demand as worn out US consumers increasingly look for ways to save in today's high-inflation environment.
Lemonade [LMND] - Last Close: $25.11
Lemonade's quarterly earnings report is giving its stock a shot in the arm.
The high-tech insurance stock reported its Q2 results early this morning, and shares are rallying on the strong numbers.
Lemonade generated Q2 revenues of $50 million, marking 77% revenue growth from the year-earlier quarter and beating Wall Street's $47.7 million target.
The company reported a quarterly loss of $1.10 per share, which also topped the Street's expectation of a $1.32 loss.
Lemonade also issued forward-looking guidance that fell in line with consensus estimates.
Shares of LMND are up 10.4% in today's premarket.
My Take:Good growth numbers for Lemonade, but does this profitless high-tech stock have what it takes to survive a prolonged recession in a high interest rate environment? I'm not so sure, but the stock was trading for $75 a share less than a year ago, so there could be great upside in this trade.
