Shares of Hims & Hers Health Inc. (HIMS) experienced a noteworthy increase of over 3% during the extended session on Monday. The telehealth company’s improved financial performance and optimistic sales outlook for the year contributed to this positive momentum.
In the third quarter, Hims narrowed its quarterly loss to $7.6 million, or 4 cents per share. This result aligns with the FactSet consensus and represents a significant improvement from the prior year’s loss of $18.8 million, or 9 cents per share. Furthermore, the company reported an impressive 57% increase in revenue, reaching $226.7 million compared to expectations of $220 million projected by analysts polled by FactSet.
Heightened Sales Guidance
Hims & Hers Health Inc. has revised its revenue guidance for 2023, now anticipating a range of $868 million to $873 million. Moreover, the company raised its adjusted EBITDA guidance to a range between $43 million and $46 million. These upward adjustments in expectations are a testament to the positive response that Hims’ “personalized” health offerings have been receiving.
Chief Financial Officer Yemi Okupe highlighted the significance of personalization in driving market share expansion and margin growth. By tailoring their services to meet individual needs, Hims & Hers Health Inc. has successfully carved out a unique position in the telehealth industry.
Hims & Hers Health Inc. continues to differentiate itself through its commitment to personalized healthcare, which has proven to resonate with a growing number of individuals seeking accessible and convenient health solutions.