Concerns over shrinking profit margins overshadowed strong subscriber growth and a higher annual revenue forecast, Reuters reported. The company’s push into branded GLP-1 weight-loss drugs and international markets drove up costs, contributing to a quarterly loss compared with a profit a year earlier.
Hims & Hers Health reported quarterly losses of 37 cents per share. The performance missed the analyst consensus estimate for losses of three cents per share.
Top-Line Revenue Growth
Quarterly revenue reached $753.21 million, which beat the Street estimate of $699.889 million. The revenue figure increased from $544.83 million reported in the same period last year.
Inside the report, the company highlighted subscriber growth to nearly 2.9 million in the second quarter. The subscriber metric represents a 19% increase year-over-year.
