CardCash.com tackles high GLP-1 medication costs

SCHAUMBURG, IL - Giftify, Inc. (NASDAQ:GIFT), a $38 million market cap company behind CardCash.com and Restaurant.com, announced a new initiative to provide cost-effective solutions for consumers facing high prices for GLP-1 weight loss prescriptions. The stock has shown significant volatility, gaining 25% year-to-date despite a challenging previous year. According to InvestingPro analysis, the company currently appears undervalued based on its Fair Value estimates. The company’s secondary gift card exchange platform, CardCash.com, offers discounted pharmacy gift cards to help reduce out-of-pocket expenses for medications such as Ozempic and Zepbound.

The program is a response to the national concern over healthcare affordability, aiming to make essential medications more accessible. CardCash.com’s approach has received positive feedback from consumers, with one noting savings of about $30 a month on Ozempic using discounted Walgreens gift cards.

CardCash.com enables users to stack savings by combining discounted gift cards with manufacturer savings programs and discount services like GoodRx and SingleCare. Customers can also compare prices across major pharmacy retailers to maximize their savings.

This initiative comes as the demand for GLP-1 medications continues to grow. By offering access to discounted gift cards for pharmaceutical purchases, CardCash.com is extending its value proposition into the healthcare sector. With revenue of $86.4 million in the last twelve months and a gross profit margin of about 12%, the company faces profitability challenges while pursuing growth opportunities. InvestingPro subscribers can access 13 additional key insights about Giftify’s financial health and market position.

Ketan Thakker, CEO of Giftify, Inc., stated that leveraging their established gift card marketplace to create savings opportunities in healthcare aligns with their strategic focus on expanding into high-growth consumer markets. The rising adoption of GLP-1 medications underscores the potential of their business model to support consumers’ financial well-being.

Giftify, Inc. is recognized for its role in the incentives and rewards industry, with a focus on retail, dining, and entertainment experiences through its digital platforms. The company’s commitment to providing value is reflected in its efforts to address the financial challenges associated with prescription medication costs.

This article is based on a press release statement and presents the facts without endorsement of claims.

In other recent news, Giftify Inc. has reported significant improvements in operational efficiency due to the integration of artificial intelligence across its enterprise. The company highlighted enhancements in customer service, marketing, and sales, resulting in increased customer engagement and reduced operational costs. Additionally, Giftify has reached an agreement with Spars Capital Group to extend the repayment of a $2 million loan, paying $1 million towards the principal with the remaining balance due by February 2025. This financial arrangement provides the company additional time to manage its finances without defaulting on its obligations.

Giftify also announced the appointment of Balazs Wellisch as the new Chief Operating Officer of Restaurant.com, a move that underscores its commitment to strengthening leadership and enhancing operations. Furthermore, the company has unveiled a growth strategy for its CardCash platform, focusing on expanding its user base and transaction volume through various initiatives, including new partnerships and user acquisition strategies. In a separate development, Giftify has canceled its registered direct offering with Craft Capital Management, citing current market conditions as the reason for the withdrawal.

These recent developments reflect Giftify’s ongoing efforts to optimize operations and expand its market presence.

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