Telehealth company Hims & Hers Health (NYSE: HIMS) will be reporting earnings this Monday after market close. Here’s what you need to know.
Hims & Hers Health beat analysts’ revenue expectations last quarter, reporting revenues of $753.2 million, up 38.2% year on year. It was a strong quarter for the company, with revenue guidance for next quarter exceeding analysts’ expectations and full-year EBITDA guidance topping analysts’ expectations. It added 307,000 customers to reach a total of 2.89 million.
Is Hims & Hers Health a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Hims & Hers Health’s revenue to grow 49% year on year, in line with the 49.2% increase it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. Hims & Hers Health has missed Wall Street’s revenue estimates multiple times over the last two years.
Looking at Hims & Hers Health’s peers in the healthcare technology segment, some have already reported their Q3 results, giving us a hint as to what we can expect. Tandem Diabetes delivered year-on-year revenue growth of 13.8%, beating analysts’ expectations by 7.6%, and Omnicell reported flat revenue, topping estimates by 0.6%. Tandem Diabetes traded down 6% following the results while Omnicell was up 1.9%.
Read our full analysis of Tandem Diabetes’s results here and Omnicell’s results here.
There has been positive sentiment among investors in the healthcare technology segment, with share prices up 4.8% on average over the last month. Hims & Hers Health is down 15.8% during the same time and is heading into earnings with an average analyst price target of $31.15 (compared to the current share price of $26.05).
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