Hims & Hers Health Shares Rise 6.7% on 3Q Revenue Beat, Raised 2023 Outlook

By Denny Jacob

Hims & Hers Health shares rose 6.7%, to $6.70, following better-than-expected revenue in the latest quarter and a raised outlook for 2023.
The stock is down less than 1% on the year.

The telehealth-consultation platform narrowed its loss to $7.4 million, or 4 cents a share, for the third quarter ended Sept. 30, from $18.8 million, or 9 cents a share, a year earlier. Analysts polled by FactSet expected a loss of 5 cents a share.
Revenue grew to $226.7 million from $144.8 million. Analysts polled by FactSet expected $220.1 million.
Other metrics that grew in the quarter include subscribers at the end of the period, net orders and average order value, while monthly online revenue per average subscriber declined slightly.
Hims & Hers also issued guidance for the fourth quarter and raised its outlook for 2023. The San Francisco-based company forecast revenue in the range of $243 million and $248 million for the current quarter, above analysts’ estimates of $227.6 million. For 2023, it raised its revenue outlook to a range between $868 million and $873 million from its prior target set in the range of $830 million and $850 million.
Write to Denny Jacob at [email protected]