Condensed Financial Information of Parent Company

12 Months Ended

Dec. 31, 2020

Condensed Financial Information Of Parent Company Only Disclosure [Abstract]

Condensed Financial Information of Parent Company

17. Condensed Financial Information of Parent Company

GoodRx Holdings Inc. has no material assets or standalone operations other than its ownership in its consolidated subsidiaries.  Under the terms of debt agreements entered into by GoodRx, a wholly-owned subsidiary of GoodRx Intermediate Holdings, LLC, which itself is a wholly-owned subsidiary of GoodRx Holdings, Inc., GoodRx is restricted from making dividend payments, loans or advances to GoodRx Intermediate Holdings, LLC and GoodRx Holdings, Inc. These restrictions have resulted in the restricted net assets (as defined in Rule 1-02 of Regulation S-X) of GoodRx, Inc. and its subsidiaries to exceed 25% of the consolidated net assets of GoodRx Holdings, Inc. and its subsidiaries.

The condensed financial information is presented on a “parent-only” basis, and GoodRx Holdings Inc.’s investment in its subsidiary is stated at cost plus equity in (loss) earnings of subsidiary less distributions received from subsidiary since the date of the October 7, 2015 acquisition. GoodRx Holdings. Inc.’s share of net (loss) income of its subsidiary is included in net income using the equity method of accounting.  

During 2020 and 2019, GoodRx Holdings, Inc. received no dividends from its subsidiary. During 2018, GoodRx Holdings, Inc. received dividends from its subsidiary of $606.0 million.

The following table presents the parent-only balance sheets of GoodRx Holdings, Inc. as of December 31, 2020 and 2019:

	December 31,
(in thousands, except par values)	2020			2019
Assets
Cash	$	5		$	110
Other asset		57			147
Investment in subsidiary, net of distributions		711,384			—
Total assets	$	711,446		$	257
Liabilities, redeemable convertible    preferred stock and stockholders' equity (deficit)
Investment in subsidiary, net of distributions	$	-		$	350,830
Other current liabilities		87			—
Total liabilities		87			350,830
Redeemable convertible preferred stock
Redeemable convertible preferred stock, $0.006 par value;    zero and 130,000 shares authorized at December 31, 2020    and December 31, 2019, respectively; and zero and 126,046    shares issued and outstanding at December 31, 2020 and    December 31, 2019, respectively		—			737,009
Stockholders' equity (deficit)
Common stock, $0.002 par value; zero and 380,000 shares    authorized at December 31, 2020 and December 31, 2019,    respectively; and zero and 229,750 shares issued and    outstanding at December 31, 2020 and December 31, 2019,    respectively		—			460
Common stock, $0.0001 par value; Class A: 2,000,000 and zero    shares authorized, 63,071 and zero shares issued and    outstanding at December 31, 2020 and December 31, 2019,    respectively; and Class B: 1,000,000 and zero shares    authorized, 328,589 and zero shares issued and outstanding    at December 31, 2020 and December 31, 2019, respectively		39			—
Additional paid-in capital		2,101,773			8,788
Accumulated deficit		(1,390,453	)		(1,096,830	)
Total stockholders' equity (deficit)		711,359			(1,087,582	)
Total liabilities, redeemable convertible    preferred stock, and stockholders' equity (deficit)	$	711,446		$	257

The following table presents the parent-only statements of operations of GoodRx Holdings, Inc. for the years ended December 31, 2020, 2019 and 2018:

	Year Ended December 31,
(in thousands)	2020			2019		2018
Equity in (loss) earnings of subsidiary	$	(293,623	)	$	66,048	$	43,793
Net (loss) income	$	(293,623	)	$	66,048	$	43,793

The following table presents the parent-only statements of cash flows of GoodRx Holdings, Inc. for the years ended December 31, 2020, 2019 and 2018:

	Year Ended December 31,
(in thousands)	2020			2019			2018
Cash flows from operating activities
Net (loss) income	$	(293,623	)	$	66,048		$	43,793
Adjustments to reconcile net (loss) income to net cash    provided by (used in) operating activities:
Equity in loss (earnings) of subsidiary		293,623			(66,048	)		(43,793	)
Changes in assets and liabilities:
Other asset		90			(147	)		—
Other current liabilities		87			—			—
Net cash provided by (used in) operating    activities		177			(147	)		—
Cash flows from investing activities
Distribution from subsidiary		—			—			605,997
Investment in subsidiary		(914,434	)		(4,908	)		—
Net cash (used in) provided by investing    activities		(914,434	)		(4,908	)		605,997
Cash flows from financing activities
Issuance of preferred stock, net		—			—			737,009
Proceeds from issuance of common stock in initial    public offering, net of underwriting discounts and    commissions		891,793			—			—
Proceeds from private placement with a related party		100,000			—			—
Payments of initial public offering issuance costs		(4,937	)		—			—
Issuance of common stock		—			1,623			—
Dividends paid		—			—			(1,346,355	)
Proceeds from exercise of stock options		5,343			3,042			3,349
Proceeds from early exercise of stock options		667			—			—
Employee taxes paid related to net share settlement    of equity awards		(78,714	)		—			—
Net cash provided by (used in) financing    activities		914,152			4,665			(605,997	)
Net change in cash		(105	)		(390	)		—
Cash
Beginning of year		110			500			500
End of year	$	5		$	110		$	500