Hims & Hers Health (HIMS) shares have started gaining and might continue moving higher in the near term, as indicated by solid earnings estimate revisions.
Hims & Hers strong performance involves much more than just GLP-1 drugs.
The company expects to enjoy many GLP-1 tailwinds in 2025.
Most investors would look at an earnings announcement as a past event, connecting the current price action in the stock and reacting to the results as something that cannot be taken advantage of, thinking that it is now too late to get into action. This might be the case for shares of Hims & Hers Health Inc. NYSE: HIMS, as the stock is now rallying by over 6% the morning after the company reported its quarterly earnings.
Hims & Hers Health (HIMS) reported third-quarter results that topped analysts' expectations Monday, lifting its shares, as the company said t plans to release a generic version of a Novo Nordisk (NVO) diabetes and weight-loss drug as early as next year.
Hims & Hers Health, Inc. reported record Q3 '24 revenues of over $400 million, beating estimates by nearly $19 million, and guided for up to 90% growth in Q4. The online health and wellness platform saw a 44% YoY subscriber growth, reaching 2 million subscribers, led by 175% growth in personalized services. Despite booming sales and strong financials, the stock remains undervalued, trading below 3x 2025 sales targets and only 22x updated adjusted EBITDA.
Hims & Hers' both revenue channels witness strong revenue growth on the back of solid product demand in the third quarter.
The telehealth company will launch a generic version of Novo's type 2 diabetes drug liraglutide in 2025.
Hims & Hers Health, Inc. (NYSE:HIMS ) Q3 2024 Earnings Conference Call November 4, 2024 5:00 PM ET Company Participants Bill Newby - Head, IR Andrew Dudum - Co-Founder and CEO Yemi Okupe - CFO Patrick Carroll - Chief Medical Officer Conference Call Participants Allen Lutz - Bank of America Maria Ripps - Canaccord Daniel Grosslight - Citi Eric Percher - Nephron Research Ryan MacDonald - Needham Aaron Kessler - Seaport Research Jonna Kim - TD Cowen Jailendra Singh - Truist Securities Operator Ladies and gentlemen, thank you for standing by. My name is Krista, and I will be your conference operator today.
We don't expect any sudden movements in the stock market until Wednesday morning the earliest.
Hims & Hers Health, Inc. (HIMS) came out with quarterly earnings of $0.06 per share, in line with the Zacks Consensus Estimate. This compares to loss of $0.04 per share a year ago.
Telehealth firm Hims & Hers Health said on Monday it plans to bring a generic version of Novo Nordisk's diabetes drug, liraglutide, to its platform in 2025.