Investing.com — Shares of GoodRx (NASDAQ:GDRX) tumbled 7% following the announcement that CFO Karsten Voermann is resigning this week for personal reasons.
The digital health care company revealed that Chief Accounting Officer Romin Nabiey, aged 38, will take over as interim CFO.
Voermann has been GoodRx’s CFO since 2020, and his departure comes on the heels of a recent leadership change, with Wendy Barnes, formerly the head of RxBenefits, taking over as CEO on January 1st.
Leerink analyst Michael Cherny commented on the unexpected nature of Voermann’s departure, stating, “What we find interesting is that in the past, GoodRx has typically pre-announced 4Q results in January, yet there was no mention in the release of 4Q results nor any guidance commentary,” he writes.
“Maybe that will come later in the week.”
Despite the news, Cherny maintains an outperform rating on GoodRx shares, arguing that they are overly discounted when considering the company’s Ebitda and cash flow generation.
The timing of the CFO’s resignation is notable, as it precedes the usual pre-announcement of fourth-quarter results, which has not occurred. This has led to some uncertainty among investors, as the lack of guidance or results could be seen as a red flag.
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