Hims & Hers Health Q3 Results Mixed But FY23 Revenue Guidance Raised, $50 Million Share Buyback

Hims & Hers Health, Inc. HIMS shares are trading higher in Monday's after-hours session after the company reported third-quarter earnings. Here's what's going on.

What To Know: The company posted earnings of losses of four cents per share, missing the analyst consensus estimate of losses of three cents, a 55.56% increase over losses of nine cents per share from the same period last year.

Revenue of $226.7 million beat estimates of $220.048 million, marking a year-over-year increase of 57%.

Him & Hers saw a 56% year-over-year increase in subcribers, growing to 1.4 million. Also, the company announced a $50 million share repurchase program authorization.

The company raised full-year 2023 revenue guidance to between $868 million and $873 million, versus the estimate of $846.55 million. Fourth-quarter revenue is anticipated to be between $243 million and $248 million.

"Our continued execution of providing a platform that offers an increasingly broader set of personalized solutions to consumers, while also achieving a level of operational efficiency that we believe few in the market are able to match, uniquely positions us to offer personalized solutions to consumers at mass-market prices and drive more value to consumers," said Yemi Okupe, CFO.

"We have strong conviction that this has and will continue to enable us to drive greater market share, and also concurrently expand margins."

Related Link: TripAdvisor Stock Pops On Q3 Earnings: EPS Beat, Revenue Up 16% And More

HIMS Price Action: Shares of HIMS were up 6.54% at $6.68 in the after-hours session at the time of publication, according to Benzinga Pro.

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