Shares of health and wellness platform Hims & Hers (NYSE:HIMS) are up in double digits today after it posted a robust set of second-quarter numbers with revenue exploding 83.1% year-over-year to $207.9 million. While the figure landed ahead of expectations by $2.9 million, net loss per share at $0.03 too came in narrower than estimates by $0.02.
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In Q2, HIMS’ number of subscribers rose 74% year-over-year to 1.3 million. Further, the monthly online revenue per average subscriber inched up by 4% to $53. During the quarter, while wholesale revenue rose by 10%, a lion’s share of the growth in topline came from an 87% jump in the company’s online revenue.
Looking ahead, for the third quarter, revenue is expected between $217 million to $222 million alongside adjusted EBITDA in the range of $10 million to $13 million.
For full-year 2023, the company expects revenue to hover between $830 million and $850 million. Adjusted EBITDA for the year is anticipated between $35 million and $40 million.
Overall, the Street has a $12.63 consensus price target on HIMS alongside a Moderate Buy consensus rating. Short interest in the stock currently stands at about 15%.
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