: Hims and Hers narrows loss, raises revenue guidance for the year

Shares of Hims & Hers Health Inc. HIMS rose more than 3% in the extended session Monday after the telehealth company narrowed its quarterly loss and raised its sales guidance for the year, saying its “personalized” health offerings are resonating with people. Hims lost $7.6 million, or 4 cents a share, in the third quarter, which met FactSet consensus and compared with a loss of $18.8 million, or 9 cents a share, in the third quarter of 2022. Revenue rose 57% to $226.7 million, the company said. Analysts polled by FactSet expected revenue of $220 million. Hims raised its 2023 revenue guidance to between $868 million and $873 million and adjusted EBITDA guidance to a range of $43 million to $46 million. Personalization “has and will continue to enable us to drive greater market share, and also concurrently expand margins,” Chief Financial Officer Yemi Okupe said in a statement.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.