Hims & Hers Health Reports Q2 Earnings, Beating Top And Bottom Lines, Raises Guidance

Hims & Hers Health, Inc. HIMS shares are trading lower Tuesday as the stock pulls back after gaining following  second-quarter results after the market close on Monday.
What To Know: The company reported quarterly losses of three cents per share which beat the analyst consensus estimate of losses of six cents. The company reported quarterly sales of $207.91 million, which beat the analyst consensus estimate of $204.62 million, a 83.08% increase over sales of $113.56 million the same period last year.

Hims also reported that subscribers grew to 1.3 million, up 74% year-over-year.

The company raised full year 2023 revenue guidance to a range of between $830 million and $850 million, versus the consensus estimate of

"This quarter marks a significant turning point for Hims & Hers, where step-change progress was made in transforming our company from an access-oriented company, towards a platform offering a personalized patient experience," said Andrew Dudum, co-founder and CEO.

"The capabilities that we have spent years building allow us to offer unique and differentiated products across our current categories, as well as seamlessly enter new categories such as Cardiovascular Health and Weight Management."

On Tuesday, Credit Suisse analyst Jonathan Yong reiterates Hims & Hers Health with a Outperform and maintained the $14 price target.

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HIMS Price Action: Shares of HIMS were down 7.28% at $7.33 at the time of publication, according to Benzinga Pro.

Image by Steve Buissinne from Pixabay