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Hims & Hers Stock Set to Report Earnings Amid Weight Loss Business Controversy

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Hims & Hers Super Bowl Commercial

San Francisco, CAHims & Hers Health, a telehealth company, is scheduled to report its quarterly earnings this Monday, following a dramatic year for its stock, which has risen more than 150%.

Investors are keen to learn about the company’s performance in its weight-loss division, especially after a turbulent period marked by a falling-out with pharmaceutical giant Novo Nordisk. Analysts anticipate $551.7 million in revenue, which represents a 74% increase year over year, along with earnings per share of $0.15.

The earnings report will cover the months of April, May, and June, a crucial time for Hims, which had to halt sales of its generic versions of Novo’s popular drugs, Ozempic and Wegovy, in May. The dissolution of the partnership with Novo, which ended in June, raised questions about Hims’ future revenue sources.

Despite losing its partnership with Novo, Hims still offers personalized versions of these weight-loss medications. However, it does not separately report revenue from weight-loss treatments in its financial statements. Instead, the company has set an annual revenue target of $725 million for its weight-loss business, providing only vague hints during earnings calls.

Monday’s earnings call is expected to be revealing as analysts question the company’s strategy moving forward, particularly how it plans to manage relationships with pharmaceutical partners.