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During the earning season, companies with good earnings will be rewarded, in contrast, companies with earnings missing estimates will be punished significantly. Hims & Hers, which is a telehealth company, fell sharply in recent trading session, reflecting this sort of notion due to Q2 revenue missing.
Here’s how the company did: Earnings per share: 17 cents adjusted vs. 15 cents expected Revenue: $544.8 million vs. $552 million expected
Revenue at Hims & Hers increased 73% in Q2 from $315.6 million during the same period last year. Hims & Hers reported a net income of $42.5 million, or 17 cents per share, compared to $13.3 million, or 6 cents per share, during the same period a year earlier.
For its third quarter, Hims & Hers said it expected to report revenue between $570 million and $590 million, while analysts were expecting $583 million. The company said its adjusted earnings before interest, taxes, depreciation and amortization, or EBITDA, for the quarter will be between the range of $60 million and $70 million.
More headwinds are facing Hims & Hers in recent months, including its continued sale of compounded GLP-1s, which are cheaper, unapproved versions of the blockbuster diabetes and weight loss drugs. On the flip side, Hims & Hers shares tumbled more than 30% in June following the collaboration with Novo Nordisk falling apart. The drugmaker said Hims & Hers “failed to adhere to the law which prohibits mass sales of compounded weight loss drug Wegovy” under the “false guise” of personalization. Investors have been keeping close eye on the controversy around Hims & Hers, hoping to get more clarity in terms of sales of compounded weight loss drugs, which will definitely determine the future trajectory of Hims & Hers.Complete digital access to quality Glebors financial topic with expert analysis from industry leaders.
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