Still life of Ozempic and Wegovy with weight scale.

(Michael Siluk/Getty Images)

Hims slips after market despite earnings, revenue beat

The company reported that it has 2.37 million subscribers, up 38% year over year but less than the 2.42 million analysts expected.

J. Edward Moreno

5/5/25 3:20PM

Hims & Hers whipsawed in after-hours trading despite reporting earnings results for the first three months of the year that blew Wall Street expectations out of the park.

It reported earnings per share of $0.20, compared to the $0.12 analysts polled by FactSet were expecting. The company also reported $586 million in sales, up 111% year over year, far higher than the $538.6 million analysts polled by FactSet were penciling in. Hims & Hers reiterated its full-year revenue guidance of $2.3 billion to $2.4 billion, which is in line with analysts’ consensus.

The company did report that it has 2.37 million subscribers, up 38% year over year but less than the 2.42 million analysts expected. It also said it expects to make between $530 million to $550 million in revenue in the second quarter of this year, less than the $564 million the Street was hoping for.

Both estimates would mark a quarter-over-quarter decline in revenue, a first for Hims since it went public in 2020.

Hims did not specify in the report how much revenue it made from its weight-loss segment. This is the last full quarter where the company will be able to continue selling compounded semaglutide, the active ingredient in Novo Nordisk’s blockbuster weight-loss drugs, Ozempic and Wegovy. The FDA declared in February that semaglutide is no longer in shortage, and the deadline for Hims to stop selling copies of the drug is May 22.

Investors have been hungry for details on what Hims’ weight-loss business will look like moving forward. Novo Nordisk announced a partnership Hims and two other telehealth companies last week. Hims users will now be able to access branded semaglutide through the platform, though it’s unclear what kind of margins that gives the company.

Hims has said that it will continue offering personalized GLP-1 drugs, which it says doesn’t skirt the FDA’s regulations. According to the company, more than half of its total subscribers are on some form of personalized medication, though it’s unclear what the figure is for those on semaglutide specifically.

In its shareholder letter, Hims said that it would expand into hormone-related categories like low testosterone and menopause by the end of the year. Hims, which currently also said it would pursue international expansion through “organic growth and opportunistic M&A over the course of the next five years.”

Hims announced earlier on Monday that Nader Kabbani, a longtime Amazon executive who most recently worked at the robotics company Symbiotic, would serve as its next chief operating officer. He is replacing Melissa Baird, a longtime executive who joined Hims shortly after it was founded.

J. Edward Moreno45s

Hims' COO to step into advisory role months after joining the company

Hims & HersChief Operating Officer Nader Kabbani — an Amazon veteran who joined the telehealth company in May — will leave his post next month, the company announced in a Thursday regulatory filing.

Kabbani will begin an advisory role with the company starting Nov. 2 and Mike Chi, who is currently the company's chief commercial officer, will assume Kabbani's title and duties.

Kabbani, who helped launch Amazon Pharmacy at the robotics company Symbiotic, took over from Melissa Baird, the company's longtime COO who transitioned to an advisory role earlier this year.

Kabbani joined Hims at a tumultuous time. The company saw explosive growth when it started selling copies of popular weight loss drugs made by Novo Nordisk last year while they were in shortage. But now that those supply constraints have waned it is limited in how much it can continue selling. Meanwhile its core business has slowed down, which resulted in disappointing revenue numbers in its most recent quarterly report.

Tasha Matsumoto

34m

The S&P 500 and Nasdaq-100 post second consecutive all-time closing highs

This is the 30th closing high for the benchmark index in 2025.

CHICAGO, IL - JANUARY 14: Chicago Bulls mascot Benny the Bull during a game against the New Orleans Pelicans and the Chicago Bulls on January 14, 2025 at the United Center in Chicago, Illinois.

Matt Phillips5h

AST SpaceMobile surges as satellite services theme gains market traction

Space stocks jumped on Thursday, led by a surge in AST SpaceMobile after Bell Canada named the Texas-based satellite services provider as a partner for a new direct-to-cellular service it plans to offer next year.

AST is up more than 20% just this week after announcing that its latest Bluebird 6 satellite was assembled, tested, and ready for launch and that its launch schedule appears to be on track.

“AST reiterated its expectation of launches every one to two months on average during 2025 and 2026, which is expected to result in between 45 and 60 satellites in orbit by the end of 2026,” wrote Louie DePalma, an analyst at William Blair. “Reaching 45 to 60 satellites in orbit is significant because it allows for continuous broadband coverage for AST’s core markets in the U.S., Europe, and Japan. We view this update positively.”

Space and satellite stocks Rocket Lab and Planet Labs ascended alongside AST Thursday. But all of these stocks are, in a sense, drafting off dynamics being driven by Tesla CEO Elon Musk’s SpaceX, the leader in the private space sector.

The company has played a key role in lowering the costs of space launches, thereby “fostering intense competition and accelerating innovation across the sector. This has led to significantly lower launch prices, reshaping the economics of deploying large-scale Low Earth Orbit constellations,” wrote Barclays analysts in a recent note on the outlook for the satellite industry. This has opened up new possibilities such as providing consumer broadband services, they noted.

Bell Canada to roll out direct-to-cell satellite service in 2026

“AST reiterated its expectation of launches every one to two months on average during 2025 and 2026, which is expected to result in between 45 and 60 satellites in orbit by the end of 2026,” wrote Louie DePalma, an analyst at William Blair. “Reaching 45 to 60 satellites in orbit is significant because it allows for continuous broadband coverage for AST’s core markets in the U.S., Europe, and Japan. We view this update positively.”

Luke Kawa6h

Bloom Energy falls as Mizuho downgrades the stock to “neutral” from “outperform”

There’s an immense need for power to fuel the AI data centers playing the starring role in driving up electricity prices.

Mizuho just isn’t sure that the high-flying fuel cell company Bloom Energy is well placed to provide it.

Analyst Maheep Mandloi cited the firm’s internal constraints on growth in lowering his rating on the stock to “neutral” from “outperform,” suggesting that Bloom will likely need to develop a bigger pipeline of customers before expanding its manufacturing footprint.

Still, he hiked his price target to $79 from $48 while downgrading the stock.

Last week, JPMorgan flagged that retail traders were beginning to sour on the shares, which had enjoyed a massive run-up that kicked into high gear thanks to a deal with Oracle announced in late July to supply power to data centers.

Wall Street is broadly negative on Bloom Energy, relative to most of the universe of the stocks the sell side covers. Its consensus rating, per analysts polled by Bloomberg, is just shy of 3.35. For reference, that’s a worse average rating than nearly 90% of the stocks in the S&P 500 (which Bloom is not a part of).

Jefferies downgraded the stock last week on the same day Bank of America analysts wrote, “We are still not buying into BE’s AI hype.” Nonetheless, most are still revising price targets higher to account for the stock’s move. But all that leaves the average price target well below where the shares are currently trading.

Matt Phillips6h

Western Digital, a top S&P stock over the last month, is attracting retail traders

We’ve been covering the sudden sexiness of data storage as a market theme a lot recently, with Western Digital and Seagate Technology Holdings turning into top trades of 2025.

The makers of relatively affordable data storage devices known as hard disk drives were leading the S&P 500 until recently, when they were supplanted by an index newbie.

WDC JPM Retail Radar Chart — A chart from JPM’s Retail Radar note showing increased retail buying of WDC.

But Western Digital, which has been trading at a discount to Seagate due to its spottier earnings record over the last couple years, seems to have suddenly found fans among the unwashed stock-trading masses, with JPMorgan’s always informative Retail Radar note spotlighting “strong buying in WDC rally” Wednesday as they climbed aboard a rally that has carried the shares up more than 60% over the last month.