Telehealth company Hims & Hers Health (NYSE: HIMS) will be reporting results tomorrow after the bell. Here’s what investors should know.
Hims & Hers Health beat analysts’ revenue expectations by 2.2% last quarter, reporting revenues of $481.1 million, up 95.1% year on year. It was a strong quarter for the company, with full-year revenue guidance exceeding analysts’ expectations. It added 182,000 customers to reach a total of 2.23 million.
Is Hims & Hers Health a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting Hims & Hers Health’s revenue to grow 94.6% year on year to $541.3 million, improving from the 45.8% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.23 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Hims & Hers Health has missed Wall Street’s revenue estimates twice over the last two years.
Looking at Hims & Hers Health’s peers in the healthcare technology segment, only Tandem Diabetes has reported results so far. It beat analysts’ revenue estimates by 6.8%, delivering year-on-year sales growth of 22.3%. The stock traded up 18.8% on the results.
Read our full analysis of Tandem Diabetes’s earnings results here.There has been positive sentiment among investors in the healthcare technology segment, with share prices up 4.9% on average over the last month. Hims & Hers Health is up 48% during the same time and is heading into earnings with an average analyst price target of $42.53 (compared to the current share price of $41.10).
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