Hims & Hers Health Q3 Earnings: What to Anticipate
Hims & Hers Health (HIMS) is set to report its earnings this Monday afternoon. Investors are keeping a close eye on the results as the company has had a mixed performance in recent quarters.
Recent Performance and Expectations
In the previous quarter, Hims & Hers fell short of revenue expectations, missing by 1.1%. The company reported revenues of $544.8 million, reflecting a year-on-year increase of 72.6%. However, it did exceed analysts’ earnings per share (EPS) estimates, although the EBITDA guidance for the next quarter fell significantly short.
Customer Growth
Hims & Hers Health added 73,000 new customers, bringing its total to 2.44 million. This growth indicates a strong demand for its telehealth services.
Analysts’ Predictions
As the company approaches its earnings report, analysts project a year-on-year revenue growth of 44.3%, amounting to approximately $579.6 million. This prediction shows a decline compared to the 77.1% growth noted in the same period last year. Adjusted earnings are expected to reach $0.23 per share.
- Previous quarter revenue: $544.8 million
- Year-on-year revenue growth: 72.6%
- Analysts’ expected revenue: $579.6 million
- Quarterly revenue growth expectation: 44.3%
- Estimated adjusted earnings per share: $0.23
- Total customers: 2.44 million
Market Trends
Over the last 30 days, analysts have maintained their estimates, indicating confidence in the company’s performance leading into the earnings report. Interestingly, Hims & Hers Health has only missed Wall Street’s revenue estimates once in the past two years, typically exceeding expectations by 3% on average.
Peer Comparison
Among its peers in the healthcare technology sector, Omnicell reported its results earlier and exceeded analysts’ revenue estimates by 5%, achieving a year-on-year sales growth of 10%. Following this news, Omnicell’s stock rose by 13.6%.
Stock Performance and Outlook
Healthcare technology stocks have remained relatively stable, with minimal fluctuations in share prices over the past month. In contrast, Hims & Hers Health has seen a decline of 11.8% during the same period. Currently, analysts have set an average price target of $47.77 for the company, while the stock is trading at approximately $46.35.
In summary, as Hims & Hers Health prepares for its upcoming earnings, all eyes are on the anticipated revenue and growth metrics to gauge its performance within the competitive healthcare technology landscape.
