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Telehealth company Hims & Hers’
stock plummeted in early trading Tuesday after posting a first-quarter loss and weak earnings guidance for the year ahead.
The digital health firm reported a net loss of $92 million in its first quarter earnings on Monday, compared with roughly $50 million for the same period the prior year. Its adjusted Ebitda was $44 million, down from $91 million last year. Meanwhile, revenue was up 4% to $608 million. Average monthly revenue per subscriber was $80, down from $85 last year.
Hims is expecting revenue in a range between $680 million and $700 million for the second quarter, and is forecasting up to $3 billion in revenue for the full year.
