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    Craig Hottenbach

    Research Analyst at Morgan Stanley

    Craig Hettenbach is an Equity Analyst at Morgan Stanley, specializing in Technology and select Healthcare companies, with a notable focus on firms such as American Well Corp, Hims & Hers Health, HCA Healthcare, Omada Health, Tenet Healthcare, and Wolfspeed. He has covered 51 stocks and delivered strong performance, with approximately 55% of his recommendations proving profitable and an average return per transaction of 5.1%, as well as a price target met ratio of 69.89% and documented best recommendations yielding up to 15.98% in just days. Hettenbach began his analyst career at Prudential Securities in 2001, held senior positions at Wachovia and Goldman Sachs until 2013, and has been with Morgan Stanley since April 2013. He holds a FINRA securities license as an analyst and is recognized for leadership in sector price target accuracy and timely recommendations.

    Craig Hottenbach's questions to GoodRx Holdings (GDRX) leadership

    Craig Hottenbach's questions to GoodRx Holdings (GDRX) leadership • Q2 2025

    Question

    Jay, on behalf of Craig Hottenbach of Morgan Stanley, asked for details on the cost controls and margin levers being used to maintain EBITDA guidance despite a lower revenue outlook, and also inquired about any shifts in consumer behavior.

    Answer

    CFO Chris McGinnis explained that margins are being maintained through a combination of favorable mix shift (as lost ISP revenue was lower margin) and disciplined cost controls, including a workforce reduction and resource reallocation. CEO Wendy Barnes added this reflects a focus on core strategic initiatives. McGinnis noted a short-term consumer shift to funded benefits due to higher cash prices but expects tailwinds to reverse this trend in 2026.

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