Telehealth platform exceeds expectations and sets higher revenue target
- Hims & Hers Health shares rose 6.7% following better-than-expected revenue in Q3
- The telehealth-consultation platform narrowed its loss to $7.4 million
- Revenue grew to $226.7 million from $144.8 million
- Subscribers, net orders, and average order value all increased
- Hims & Hers raised its outlook for 2023 revenue to $868 million – $873 million
Hims & Hers Health shares experienced a 6.7% increase as the company reported better-than-expected revenue for the third quarter. The telehealth-consultation platform also narrowed its loss to $7.4 million, a significant improvement from the previous year. Revenue grew to $226.7 million, surpassing analysts’ expectations. Additionally, the company saw growth in subscribers, net orders, and average order value. Although monthly online revenue per average subscriber declined slightly, Hims & Hers remains optimistic about its future performance. The company issued guidance for the fourth quarter, projecting revenue between $243 million and $248 million, exceeding analysts’ estimates. Furthermore, Hims & Hers raised its outlook for 2023 revenue to a range of $868 million to $873 million, demonstrating confidence in its long-term growth prospects.
Factuality Level: 8
Factuality Justification: The article provides specific financial data and metrics for Hims & Hers Health, including revenue, loss, and analyst expectations. The information is verifiable and supported by sources. There is no apparent bias or opinion presented in the article.
Noise Level: 7
Noise Justification: The article provides information on the rise in shares and better-than-expected revenue for Hims & Hers Health. It also includes details on the company’s narrowed loss, revenue growth, and other metrics. However, it lacks analysis of long-term trends, antifragility, accountability, scientific rigor, and actionable insights. The article stays on topic and supports its claims with data and examples, but it mainly focuses on financial performance without providing deeper analysis or implications.
Financial Relevance: Yes
Financial Markets Impacted: Hims & Hers Health
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: No
Rating Justification: The news article pertains to financial topics as it discusses the rise in shares and better-than-expected revenue for Hims & Hers Health. However, there is no mention of any extreme event.
Public Companies: Hims & Hers Health (N/A)
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