Hims & Hers stock falls 10% on revenue miss

Shares of Hims & Hers Health fell 9% successful extended trading connected Monday aft the telehealth institution reported second-quarter results that missed Wall Street's expectations for revenue.

Here's however the institution did based connected mean analysts' estimates compiled by LSEG:

• Earnings per share: 17 cents adjusted vs. 15 cents
• Revenue: $544.8 cardinal vs. $552 million

Revenue astatine Hims & Hers accrued 73% successful the 2nd 4th from $315.6 cardinal during the aforesaid play past year, according to a release. Hims & Hers reported a nett income of $42.5 million, oregon 17 cents per share, compared to $13.3 million, oregon 6 cents per share, during the aforesaid play a twelvemonth earlier.

For its 3rd quarter, Hims & Hers said it expected to study gross between $570 cardinal to $590 million, portion analysts were expecting $583 million. The institution said its adjusted EBITDA for the 4th volition beryllium betwixt the scope of $60 cardinal to $70 million. Analysts polled by StreetAccount were expecting $77.1 million.

Hims & Hers has faced contention successful caller months implicit its continued merchantability of compounded GLP-1s, which are cheaper, unapproved versions of the blockbuster diabetes and value nonaccomplishment drugs. Compounded drugs tin beryllium wide produced erstwhile brand-name treatments are in shortage, but the U.S. Food and Drug Administration announced in February that ongoing proviso issues had been resolved.

Some telehealth companies, including Hims & Hers, person continued to connection the compounded medications. It's ineligible for patients to entree personalized doses of the knockoffs successful unsocial cases, similar if they are allergic to an constituent successful a branded product, for instance. Hims & Hers has said consumers whitethorn inactive beryllium capable to entree personalized doses done its tract if clinically applicable. 

In June, Hims & Hers shares tumbled much than 30% aft a short-lived collaboration with Novo Nordisk fell apart. The drugmaker said Hims & Hers "failed to adhere to the instrumentality which prohibits wide income of compounded drugs" nether the "false guise" of personalization.

Hims & Hers reported adjusted EBITDA of $82 cardinal for its 2nd quarter, up from $39.3 million last twelvemonth and supra the $73 cardinal expected by StreetAccount.

Hims & Hers volition big its quarterly telephone with investors astatine 5 p.m. ET.

YTD illustration of Hims & Hers Health.