Shares of Hims & Hers Health (NYSE: HIMS) surged in after-hours trading on Monday after the telehealth company’s losses narrowed in Q4 to $0.05 per share versus a loss of $0.15 per share in the same period a year back. Analysts were expecting a loss of $0.06 per share in Q4.
The company’s total revenues soared 97% year-over-year to $167.2 million in the fourth quarter, beating Street expectations by $6 million. Moreover, at the end of Q4, HIMS’ subscribers jumped 88% year-over-year to 1.04 million while monthly online revenue per average subscriber increased by 10% year-over-year to $55. Average order value rose by 18% year-over-year to $87 in Q4.
Looking forward, management now expects Q1 revenues to range between $175 million and $180 million which is above the consensus estimate of $160.2 million while FY23 revenues are projected to range from $735 million to $755 million, again ahead of analysts’ expectations of $726.93 million.
Overall, analysts are cautiously optimistic about HIMS stock with a Moderate Buy consensus rating based on two Buys and one Hold.
