Hims & Hers tops Q2 revenue estimates, raises 2024 forecast to $3.1 billion-$3.3 billion

Hims & Hers Health reported second-quarter revenue of $753 million, beating analysts' $699.89 million estimate and rising from $544 million a year earlier, as the telehealth company added subscribers and broadened its personalized healthcare offerings. The company also lifted its full-year revenue guidance to $3.1 billion to $3.3 billion from $2.8 billion to $3 billion. Growth was supported by its move toward FDA-approved treatments and branded weight-loss drugs, including Novo Nordisk's Wegovy, after Hims shifted away from lower-cost compounded GLP-1 treatments (custom-made versions of in-demand drugs). That strategy followed a March partnership with Novo Nordisk and came after the FDA (U.S. Food and Drug Administration) moved to restrict copycat weight-loss drugs, ending a legal dispute between the companies.

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Hims & Hers tops Q2 revenue estimates, raises 2024 forecast to $3.1 billion-$3.3 billion - CoinPost Terminal