What's Going On With Hims & Hers Health Stock Monday?

Hims & Hers Health HIMS shares are moving higher Monday ahead of earnings after the bell. Here’s what you need to know before the report.

What To Know: Hims & Hers Health will report third-quarter financial results after the market close on Monday. Analysts expect the company to report earnings of 4 cents per share and revenue of $382.2 million, according to estimates from Benzinga Pro.

Hims & Hers Health has exceeded analyst estimates on the top and bottom lines in three consecutive quarters heading into Monday’s print.

Last quarter, the company easily beat estimates as revenue increased 52% year-over-year and subscribers jumped 43% to 1.9 million.

Hims & Hers Health guided for third-quarter revenue of $375 million to $380 million and raised guidance for the full year from a range of $1.2 billion to $1.23 billion to a new range of $1.37 billion to $1.4 billion.

“An approach to democratizing access to high-quality personalized solutions on our platform at an affordable price continues to resonate with consumers. We are seeing this improve our ability to attract new users to longer-tenured specialties, while also allowing us to more rapidly scale new specialties,” CFO Yemi Okupe said in the earnings release.

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Hims & Hers Health shares are up approximately 135% year-to-date heading into the print. The stock really took off in May after the company announced it would begin selling compounded versions of GLP-1 injections.

Hims and Hers Health shares experienced increased volatility last month after the FDA removed Eli Lilly And Co’s LLY Mounjaro, which is used to treat diabetes, and weight-loss drug Zepbound from its shortage list. Mounjaro had been on the regulator's shortage list since late 2022, and Zepbound had been on the list since April.

Novo Nordisk’s NVO diabetes drug Ozempic and weight-loss drug Wegovy were also removed from the FDA’s shortage list last week.

Hims & Hers Health sells cheaper versions of Eli Lilly and Novo Nordisk’s drugs, known as compounded drugs. Investors and analysts will be looking for updates in the third-quarter report on how the company expects recent FDA shortage changes to impact the company’s sales moving forward.

HIMS Price Action: Hims & Hers Health shares were up 3.93% at $21.16 at the time of publication, according to Benzinga Pro.

Photo: Shutterstock.