Hims & Hers Health, the telehealth-consultation platform, saw its shares rise 6.7% to $6.70 following an impressive performance in the latest quarter and an optimistic outlook for 2023.
Steadfast Performance in a Challenging Year
Despite the challenges faced by many businesses this year, Hims & Hers Health has managed to maintain a strong position. The stock is down less than 1% for the year, demonstrating resilience in uncertain times.
Improved Financials
In the third quarter ended September 30, Hims & Hers Health successfully narrowed its loss to $7.4 million, or 4 cents a share, compared to $18.8 million, or 9 cents a share, in the same period last year. This positive outcome exceeded analysts’ expectations, who had predicted a loss of 5 cents per share.
Impressive Revenue Growth
Hims & Hers Health reported substantial revenue growth, with figures reaching $226.7 million, up from $144.8 million in the previous year. These results also surpassed analysts’ estimates, which had projected revenue of $220.1 million.
Key Metrics on the Rise
Positive Guidance for the Future
Looking ahead, Hims & Hers Health provided guidance for the fourth quarter and raised its outlook for 2023. The company forecasts revenue between $243 million and $248 million for the current quarter, surpassing analysts’ estimates of $227.6 million. Moreover, Hims & Hers Health now anticipates revenue between $868 million and $873 million for 2023, compared to the previous range of $830 million and $850 million.
In conclusion, Hims & Hers Health’s strong performance in the latest quarter and positive outlook for 2023 demonstrate their resilience and growth potential in the telehealth industry.
