2023-11-06 17:28:08 ET
Shares of Hims & Hers Health ( NYSE: HIMS ) on Monday rose nearly 7% in extended trading, after the telehealth company raised its full year revenue guidance and announced a $50M stock buyback.
HIMS stock gained 6.7% to $6.70 after hours.
HIMS reported Q3 loss per share of $0.04, which missed estimates by 1 cent. Revenue, however, rose nearly 57% Y/Y to $226.7M, beating expectations by $6.43M.
San Francisco, Calif.-based Hims & Hers Health ( HIMS ) is an online platform that connects patients to licensed healthcare professionals across the U.S. The company also offers personalized treatment plans and ships prescription medicines to consumers.
"Personalization continues to gain traction across our platform, and the anticipated completion of our migration toward affiliated facilities by year end will further strengthen our ability to provide customers with a broader set of personalized solutions," HIMS top boss Andrew Dudum said in a statement .
At the end of Q3, Hims & Hers Health ( HIMS ) said it had about 1.4M subscribers, up 56% from 916K a year ago. Monthly online revenue per average subscriber fell slightly by 4% Y/Y to $54.
Dudum also touted HIMS' MedMatch - an artificial intelligence based service that used anonymized data across the company's data set.
MedMatch "has the potential to aid providers in their ability to efficiently select the right personalized solutions for each individual consumer," the CEO said.
Additionally, HIMS issued strong guidance. For Q4, the company sees revenue of $243M to $248M, compared to a consensus estimate of $227.51M.
For full year 2023, Hims & Hers Health ( HIMS ) raised its revenue forecast to $868M to $873M, versus a prior range of $830M to $850M. The consensus revenue estimate is $846.70M.
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Hims & Hers stock +6% after hours on raised revenue guidance, $50M share buyback