Hims & Hers (HIMS) Falls 12.36% on Weaker Revenues

We recently published 10 Big Names Bleed Double Digits. Hims & Hers Health, Inc. (NYSE:HIMS) is one of the worst-performing stocks on Tuesday.

Hims & Hers fell by 12.36 percent on Tuesday to close at $55.52 apiece as investors soured on lower-than-expected revenues in the second quarter of the year.

In its updated report, Hims & Hers Health, Inc. (NYSE:HIMS) said revenues increased by 73 percent to $544.8 million from $315.6 million in the same period last year, but missed the $552 million estimates by analysts.

Net income, on the other hand, more than tripled to $42.5 million from $13.3 million in the same period last year.

For the first six months, net income soared by 277 percent to $91.99 million from $24.42 million year-on-year, while revenues jumped by 90 percent to $1.13 billion from $593 million in the same comparable period.

For the third quarter, Hims & Hers Health, Inc. (NYSE:HIMS) is targeting to reach $570 million to $590 million in revenues, as well as $2.3 billion to $2.4 billion in the full-year period.

“It’s never been more clear that we are delivering exactly what millions of people have been waiting for: access to personalized, high-quality care that meets people where they are. From the momentum of our business to the results our customers are achieving, we are more confident than ever that our model is helping people optimize their health and realize the benefits of precision medicine,” said Hims & Hers Health, Inc. (NYSE:HIMS) co-founder and CEO Andrew Dudum.

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