The Hers app arranged on a smartphone in New York on Feb. 12, 2025.
Gabby Jones | Bloomberg | Getty Images
Shares of Hims & Hers Health fell 9% in extended trading on Monday after the telehealth company reported second-quarter results that missed Wall Street’s expectations for revenue.
Here’s how the company did based on average analysts’ estimates compiled by LSEG:
- 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 the second quarter from $315.6 million during the same period last year, according to a release. 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. Analysts polled by StreetAccount were expecting $77.1 million.
Hims & Hers has faced controversy in recent months over its continued sale of compounded GLP-1s, which are cheaper, unapproved versions of the blockbuster diabetes and weight loss drugs. Compounded drugs can be mass-produced when brand-name treatments are in shortage, but the U.S. Food and Drug Administration announced in February that ongoing supply issues had been resolved.
Some telehealth companies, including Hims & Hers, have continued to offer the compounded medications. It’s legal for patients to access personalized doses of the knockoffs in unique cases, such as if they are allergic to an ingredient in a branded product, for instance. Hims & Hers has said consumers may still be able to access personalized doses through its site if clinically applicable.
In June, Hims & Hers shares tumbled more than 30% after a short-lived collaboration with Novo Nordisk fell apart. The drugmaker said Hims & Hers “failed to adhere to the law which prohibits mass sales of compounded drugs” under the “false guise” of personalization.
Hims & Hers reported adjusted EBITDA of $82 million for its second quarter, up from $39.3 million last year and above the $73 million expected by StreetAccount.
Hims & Hers will host its quarterly call with investors at 5 p.m. ET.
YTD chart of Hims & Hers Health.
— CNBC’s Annika Kim Constantino contributed to this report.