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Hims & Hers Shares Drop on Q2 Revenue Miss Despite Profit Beat

The telehealth provider maintained its full-year revenue outlook despite regulatory pressure on compounded GLP-1 drugs.

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Overview

  • Hims & Hers reported second-quarter revenue of $544.8 million, up 73% year over year but short of the $552 million consensus.
  • Adjusted earnings per share of $0.17 and adjusted EBITDA of $82 million both exceeded analyst expectations.
  • Its shares dropped about 9% in after-hours trading following the earnings release.
  • The company upheld its full-year revenue guidance of $2.3 billion to $2.4 billion.
  • Hims & Hers is responding to the FDA compounding ban and the end of its Novo Nordisk deal by pivoting to branded GLP-1 therapies and diversifying through acquisitions.