All eyes are on Hims’ weight-loss biz ahead of Monday earnings
The company’s stock, which is up more than 150% this year, has been on a wild ride.
Hims & Hers is set to report earnings after the bell on Monday, giving investors a peek at how its weight-loss business has held up amid a storm of controversy.
The company’s stock has been on a roller coaster this year, having now recovered its losses from a very public falling-out with pharmaceutical giant Novo Nordisk. On Monday, Hims investors will get clarity on how the company performed leading up to and in the weeks after that breakup.
Analysts are penciling in $551.7 million in revenue, which would be a 74% year-over-year increase, and earnings per share of $0.15.
Investors are eager for signs of how its weight-loss business is doing. Hims does not report revenue from weight-loss meds or other treatments as line items on its financial reports, though it did set an annual revenue goal of $725 million for its weight-loss business and tends to give some figures scattered in other materials or hints on its earnings call.
The earnings report will cover the months of April, May, and June. The company had to stop selling exact copies of Novo’s Ozempic and Wegovy on May 22, and its partnership with the drugmaker imploded on June 23.
Hims is still selling “personalized” versions of Novo’s blockbuster drugs, which is why the drugmaker abruptly cut off its deal to offer cash-pay versions of its name-brand drug on the telehealth platform. Novo also recently cut its guidance, citing competition from compounders like Hims, though its sales are also slumping among insured patients.
The Novo-Hims partnership was never seen as a significant revenue driver; it was relief from looming litigation risk from Novo and a nod toward the company’s long-term vision.
On Monday, analysts will likely ask how Hims plans to navigate its relationship with drugmakers moving forward.
