Telehealth company Hims & Hers Health (NYSE: HIMS) will be announcing earnings results this Monday after market hours. Here’s what to expect.
Hims & Hers Health missed analysts’ revenue expectations last quarter, reporting revenues of $608.1 million, up 3.8% year on year. It was a slower quarter for the company, with a significant miss of analysts’ EPS estimates and EBITDA guidance for next quarter missing analysts’ expectations significantly. It added 73,000 customers to reach a total of 2.58 million.
Is Hims & Hers Health a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Hims & Hers Health’s revenue to grow 28.3% year on year, slowing from the 72.6% increase it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. Hims & Hers Health has missed Wall Street’s revenue estimates multiple times over the last two years.
Looking at Hims & Hers Health’s peers in the healthcare technology segment, some have already reported their Q2 results, giving us a hint as to what we can expect. GoodRx’s revenues decreased 1.3% year on year, beating analysts’ expectations by 3.5%, and Tandem Diabetes reported revenues up 5.8%, in line with consensus estimates. GoodRx traded up 13.8% following the results while Tandem Diabetes was also up 19.1%.
Read our full analysis of GoodRx’s results here and Tandem Diabetes’s results here.
There has been positive sentiment among investors in the healthcare technology segment, with share prices up 3.2% on average over the last month. Hims & Hers Health is down 7.9% during the same time and is heading into earnings with an average analyst price target of $29.23 (compared to the current share price of $31.67).
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