Aug 4, 08:12 PM

Hims & Hers Shares Slide 10% After First Revenue Miss Since IPO

Hims & Hers Health Inc. shares fell as much as 11% in after-hours trading on Monday after the telehealth company posted its first revenue shortfall since going public, eclipsing stronger-than-expected profits. Second-quarter revenue climbed 73% from a year earlier to $544.8 million, missing analysts’ projections of roughly $551 million. Adjusted earnings reached $0.17 a share, topping the $0.16 consensus, while net income rose to $42.5 million. Adjusted EBITDA more than doubled year-on-year to $82.2 million, and gross margin stood at 76%. The subscriber base expanded 31% to 2.44 million users. The San Francisco-based company forecast third-quarter revenue of $570 million to $590 million, broadly bracketing Wall Street estimates near the midpoint. It maintained full-year guidance of $2.3 billion to $2.4 billion in revenue and $295 million to $335 million in adjusted EBITDA, implying a margin of 13%–14%. The revenue miss comes amid heightened scrutiny of Hims & Hers’ compounded weight-loss medications and follows a share slide of more than 30% in June after Novo Nordisk ended a collaboration over those products. Management says it is pressing ahead with international expansion, including the planned acquisition of European telehealth provider Zava.

#San Francisco #Wall Street #Novo Nordisk #European #Zava

Written with ChatGPT .

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