MW Hims & Hers sees 'an exciting period of growth,' but stock falls

By Bill Peters

Hims & Hers has been trying to widen the number of personalized treatments it offers to consumers

Shares of Hims & Hers Inc. fell after hours on Monday after the wellness and telehealth platform's third-quarter forecast came up shy of Wall Street's estimates, although the company stuck with its full-year outlook.

The company $(HIMS)$, known for selling anti-anxiety medications, hair-loss and sexual-health products, made the forecasts as it tries to expand its selection of personalized care products.

But it comes after a messy breakup with Novo Nordisk $(NVO.AU)$ after the drugmaker accused the platform of "deceptive promotion" and selling illegitimate copycat versions of its popular weight-loss drug Wegovy. Hims & Hers, in turn, accused Novo Nordisk of "misleading the public."

Hims & Hers on Monday said it expects third-quarter revenue of $570 million to $590 million. The midpoint of that forecast was a bit below FactSet estimates for $583 million.

The company kept its full-year sales outlook of $2.3 billion to $2.4 billion.

Shares slid 13.6% after hours on Monday. However, the stock is up 161.9% year to date, as of the close of trading.

For the second quarter, Hims & Hers reported revenue of $544.8 million, a 73% year-over-year jump but below estimates for $552 million. The company earned 17 cents a share, topping expectations for 15 cents. Subscriber growth was up 31%, to more than 2.4 million.

"We believe we're entering an exciting period of growth where we'll enter new, high-impact specialties that bring millions of people in need of care into the market," Chief Executive Andrew Dudum said in a statement.

Hims & Hers has been trying to widen the number of personalized treatments it offers to consumers. It is also trying to expand its capacity for at-home lab testing, its usage of tech to assist with consumers' health needs and access to professionals, and daily health tracking from wearable devices. In May, management said it plans to launch new products geared toward testosterone and menopause support this year.

Novo Nordisk said in June that it would end its collaboration with Hims & Hers, less than two months into the partnership. Novo Nordisk said the knockoff drugs available on the website "put patient safety at risk," and that it would halt "direct access" to Wegovy on Hims & Hers Health via the drugmaker's NovoCare Pharmacy.

Dudum, in a post on X, said that the drugmaker "increasingly pressured us to control clinical standards and steer patients to Wegovy regardless of whether it was clinically best for patients."

"We refuse to be strong-armed by any pharmaceutical company's anticompetitive demands that infringe on the independent decision-making of providers and limit patient choice," he continued.

He added: "We will continue to offer access to a range of treatments, including Wegovy, to ensure providers can serve the individual needs of patients."

Earlier this year, the Food and Drug Administration ended a drug-shortage designation for weight-loss drugs, a decision intended to curb generic versions used to meet booming demand. A loophole has allowed Hims & Hers to offer generic versions.

The company has big ambitions. It wants to reach at least $6.5 billion in sales by 2030. In the short term, as it tries to steer its consumers to high-end daily products, Chief Financial Officer Yemi Okupe said in May he expects "some volatility" in its sexual-health segment.

"Our focus remains on driving long-term growth, even if at times that results in near-term temporary headwinds," he said at the time.

Steve Gelsi contributed.

-Bill Peters

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August 04, 2025 18:51 ET (22:51 GMT)

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