Hims and Hers tops revenue estimates as telehealth provider attracts more users

Core Insights - Hims and Hers Health exceeded Wall Street revenue estimates for Q3, driven by subscriber growth and expanded healthcare offerings [1][3] - The company is in discussions with Novo Nordisk to provide Wegovy injections and an oral version, following the end of a previous partnership [2] Financial Performance - Quarterly revenue reached $600 million, surpassing analyst expectations of $580.2 million, with an adjusted profit of 6 cents per share, below the anticipated 10 cents [7] - The subscriber base grew to 2.47 million, a 21% increase year-over-year, while monthly online revenue per subscriber rose 19% to $80 [5] Growth Strategy - The company aims for $6.5 billion in revenue by 2030, focusing on investments in diagnostics, lab testing, menopause treatments, and international expansion [3] - Hims expects to generate $725 million from its GLP-1 weight-loss drug offering by 2026 [4] Market Position - Hims' online revenue growth is primarily organic, despite the acquisition of healthcare platform Zava to enhance consumer reach in the UK [5] - The company is characterized as a fast-growth business willing to invest heavily for growth, potentially impacting short-term profit margins [6]