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Hims & Hers raises annual forecast revenue on strong subscriber growth
['Mon', 'August', 'At Pm Gmt', 'Min Read']
Yahoo Finance
NEW YORK, Aug 10 (Reuters) - Hims & Hers Health on Monday posted second-quarter revenue above estimates and raised its annual revenue forecast, as the telehealth company benefited from an increase in subscribers and expanding its personalized healthcare offerings.
The company's pivot to FDA-approved treatments such as Novo Nordisk's Wegovy helped drive engagement and traffic across its platform.
In May, Hims said it would pivot to offering branded weight-loss drugs, moving away from lower-cost compounded GLP-1 treatments that had helped drive growth to branded versions.
Hims reported revenue of $753 million during the quarter, compared with $544 million a year ago.
The company raised its full-year revenue guidance to a range of $3.1 billion to $3.3 billion from its previous range of 2.8 billion to $3 billion.