3 Top Stocks Crushing Q3 Earnings With Strong 2024 Guidance

Company Overview - Hims & Hers Health Inc. is a telehealth platform that provides personalized health solutions and prescriptions for various health issues, including erectile dysfunction, hair loss, weight loss, and more [1][3] - The company has experienced significant growth in revenue and subscribers, with a reported 44% year-over-year increase in subscribers to 2 million [3] Financial Performance - For Q3 2024, Hims & Hers reported earnings per share (EPS) of 32 cents, which tripled the consensus estimate of 10 cents [3] - Revenue surged 77.1% year-over-year to $401.56 million, exceeding the consensus estimate of $382.2 million [3] - The company provided guidance for Q4 2024 revenue between $465 million and $470 million, surpassing the consensus estimate of $442.12 million [3] Market Dynamics - Hims & Hers began offering GLP-1 compounds in May 2024 as substitutes during a supply shortage of branded medications, leading to a surge in revenue [2] - The company sells its compounded GLP-1 injections for as low as $199 a month, significantly lower than the branded alternatives priced at $1,100 or more [5] Regulatory Environment - Eli Lilly petitioned the FDA to limit sales of compounded Tirzepatide, claiming no supply shortage exists, which has led to legal challenges and reconsideration of the drug shortage list by the FDA [4] Future Outlook - Hims & Hers plans to introduce liraglutide, the first generic GLP-1, to the market in 2025 [5]