Scott Wagner's videos and podcasts

What are you up to now?

Looking back on GoDaddy, how do you feel about your accomplishments?

You were mission driven before mission driven was a trend. Will that trend continue to grow in strength?

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And how did the investment go?

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Thanks so much. Maybe I'll ask two bigger-picture questions if that's OK. First, when you think about implementing the strategy and the mix of businesses you're now trying to sort of align for the platform going forward, what would you see as sort of the key investments or critical developments that are necessary to executing on that strategy looking out over the next six to 12 months to put a finer point on some of the commentary from earlier in the call? And then second, when you think about where you're trying to go from a mix shift standpoint, any updated views on longer-term margin structure, and how we should be thinking about some of the headwinds and tailwinds to margin, looking out over the next couple of years? Thanks so much. Thank you.

Sorry. Yeah, exactly. What you're doing in AI and then also what impacts you're seeing from the weight loss drugs?

Hey, sorry. I think we have misregistered. This is Robert Simmons. Thanks for taking the question. So, there's kind of two buzzy topics that pop up a lot recently in the last few months in tech and healthcare, which you guys are both, AI and weight loss drugs. Can you talk about what you're doing in AI and also what impact those drugs are having on your business, if any?

Hey. Thanks for taking a question. This is Jian for Mark Mahaney. I want to kind of go back to clarify that comment on the volume versus margin trade-off. So, is the idea that kind of the near-term revenue impact really just, you know, kind of the time that it takes for the volume to ramp up? And also, you know, maybe like kind of medium to longer term, how does this structure like -- because, you know, with volume versus margin trade-off, it kind of implies that there's a margin impact. Is that kind of the right assumption? What's kind of the longer-term margin impact? Thanks a ton.

Hi. Thanks for taking the question. I'd like to go back to the Caremark deal and also ESI and really focus on how these deals may change your business as it rolls out more generally in 2024. Because, you know, to us, and I'm sure to others out there, it seems like a no-brainer for sponsors to opt into these programs. So, if you have a vast majority of commercial members with access to these plans, you know, beating copays 50% of the time, you're going to attract just a whole bolus of new members to the platform as this rolls out with, importantly, no incremental marketing spend because it's all done kind of in the background. So, as you think about '24 and marketing spend, and I suppose this also relates to hiring of Andrew Slutsky as well, how should we think about your go-to-market approach in terms of marketing? You're still spending around 40% of revenue on marketing. Is that going to drop dramatically if we see the uptake of these programs? And then I guess in conjunction with that, are there going to be some negative knock-on effects to the pharma man sol because you're attracting less eyeballs to the GoodRx platform because you simply don't need to do it if you're doing everything on the back end?

Thanks very much. I just want to circle back to the manufacturer solutions business and sort of come back to one of the questions that was asked. One of your competitors last night commented they thought the market growth had slowed by as much as half versus what they originally expected this year. Would love to get any thoughts on that, but also the idea that pharma customers are looking for more technology-enabled buying opportunities as opposed to salespeople coming in, seeking office, going over a program. Hey, I just want to go to a dashboard and click for things and watch my program. Where are you guys in terms of technology? Is that -- maybe I'm just thinking about vitaCare. It's a little bit different. That's a very service-oriented solution. And just trying to think, do you also see customers pushing more for technology-enabled solutions and the ability to buy with this technology as opposed to having to do hour-long face-to-face meetings with sales reps? Thanks.

Yeah. Good morning, guys. Thanks for taking the questions. I guess, Scott, mine is kind of a big picture question, is that you guys are now both going to market, trying to serve the PBMs, as well as tighten retail pharmacy relationships. I guess I thought about this before, but can you talk about like how exclusive are the retail pharmacy relationships or are there other vendors trying to compete in that space as well? And kind of like how do you get the retailers comfortable that you guys are so closely aligned with the PBMs, especially the two largest, that they feel comfortable tightening their relationship with GoodRx?

Thank you and good morning, everyone. I want to focus on your plans to deprioritize certain solutions in the pharma manufacturer solutions, including vitaCare. This business was -- when you acquired was like less than 1% of your overall revenue and very low EBITDA, like low single-digit million. Did that business significantly underperform since the acquisition? And also broadly, can you comment on what you're seeing from spending environment from your pharma clients? Has that changed in any way as what you communicated on the last earnings call?

Hey. Thanks for taking the question. I want to understand the comments you're making about the retail pharmacies and the trade-off in volume and revenue and margin. You know, it sounds somewhat similar to what the Kroger situation was, where there was a little bit too much volume and perhaps not as much benefit being derived for the pharmacy. So, one, is that correct? And two, it sounds like you need to allow for higher prices going to consumers to reduce the volumes a bit. So, how meaningful is this type of situation becoming? And separately, what does this mean for the GoodRx brand if consumers kind of see that price point moving up relative to what they had previously, and what that means for the competitive landscape? Thanks.

Yeah. Thanks for taking the questions. You know, Scott, would love to dive deeper into the CVS Cost Saver program and obviously the Express one as well. Just trying to figure out first a little bit sort of the experience that you're seeing with Express Scripts in this pilot so far. How often are you seeing the GoodRx price being accessed as the member goes in with a prescription and just trying to think about how that might, you know, translate to Caremark next year? And then, you know, as we think about those plans for next year, you know, how is the Cost Saver program being offered within Caremark's pharmacy benefit for '24? Is it included in the default plan design or is it an opt-in opt-out benefit? Just trying to figure out a little bit here what might be the incremental cost to this plan sponsor or -- and how it's being sold in the market currently. Thanks.

Thanks so much for taking the questions before we ran out of time. Maybe two, just following up on topics we've talked about so far this morning. In the subscription business, can you help maybe give a little more granularity on some of the headwinds and tailwinds in the subscription business as 2024 proceeds? And how some of it might be more pronounced on either the subscriber side versus the revenue side as we think about sort of bringing your forecast back to our models? That would be number one. And on the manufacturer solutions side, understood some of the key points made so far on the call, but can you almost better understand some of the execution going forward? Is that just broader adoption of manufacturer solutions and continue to execute against the opportunity? Or there's still building blocks you feel like you're putting in place to drive sort of sustained revenue momentum around that business? Thanks.

Hi, guys. Thanks for kind of squeezing me in here. Scott, I had a question about what I think about is like tail risk. And I'm following the J&J lawsuit around the ERISA rules and the Consolidated Appropriations Act. When we probably get to a point in the future where PBMs have to do a better job of matching drug rebates with purchase prices at the point of sale, and I'd just be interested in how you think or expect into that process and if there's a way for you guys to either facilitate that process or whether or not that serves as a risk. Thank you.

Hi. Thanks for taking my questions. On direct contracting, are any of your direct contracting agreements exclusive? And do any of the directly contracted pharmacies advertise GoodRx savings to consumers at the point of sale?

Yes. Thank you. Scott, just circling back to pharma manufacturer solutions, I know you've been meeting with pharma companies as well. Any particular feedback that you're hearing in terms of as your strategy evolved there? And you look to target growth in this market, what's resonating versus what are some things you're working on to drive that growth?

Good morning, and thanks for taking the questions. Scott, it sounded like direct contracting may actually be contributing a little bit more than ISP. Can you break down the relative growth in 2024 from direct contracting and ISP? And then regarding the ramp in ISP, is there any way to frame how many more lives could be on the platform by 4Q versus the start of the year? Thanks.

Great. Thanks a lot. This is Jian for Mark Mahaney. A couple questions. One is maybe just going back to the ISP, what's the go to market that GoodRx can do? Because it sounds like it's sort of dependent on the ISP partners ramping up, the benefit plans on it. So anything that GoodRx, is doing to increase that penetration? And maybe related to that, I think you guys mentioned sort of ramping up marketing. What channels are you testing? Like where is the dollar spent?

Hi. This is Mitchell on for Jack. Thanks for taking my question. What have you been seeing lately in the demand environment for pharma manufacturer solutions? And have there been any changes in pharma decision-making? And then what gives you the confidence that you're going to outperform the market growth rate in that business? Thanks.

Hi. Good morning, and thanks so much for taking the question. I think a similar one along the same vein in terms of thinking about the evolving nature of your two-sided network, both the PBM relationships as well as on the ISP side with the pharmacies. Obviously, we had the reset from a couple of years back with Kroger. And now as you go forward, you look at the health of the two side dynamics of your market. Where else do you think you see the next important leg of development? Is it adding more partners on the ISP side? Is it more direct pharmacy? Do you feel like you're at homeostasis now across the network? And if not, where do we see the next leg of who the next partner should be?