Hims & Hers Health Inc. (NYSE: HIMS) reported its financial results for the fiscal fourth quarter on Thursday that came in better than what analysts had anticipated, despite the ongoing Coronavirus pandemic that has so far infected more than 30 million people in the United States and caused over half a million deaths.
Hims & Hers shares tanked roughly 7% in after-hours trading on Thursday. Including the price action, the stock is now exchanging hands at £10.61 per share. In comparison, it had started the year 2021 at a higher £11.24 per share.
Hims & Hers’ fourth-quarter financial results
Hims & Hers said that its net loss in the fourth quarter printed at £3.73 million. In the same quarter last year, its net loss stood at a much higher £8.89 million. On an adjusted basis, the telemedicine firm lost £2.22 million in Q4.
Hims & Hers generated £29.76 million of revenue in the recent quarter that represents a 67% year over year growth. According to FactSet, experts had forecast the company to report a lower £26.53 million of revenue in Q4.
For the full financial year, Hims & Hers recorded £106.71 million of total revenue – an 80% annualised growth. The San Francisco-based company noted £12.98 million of net loss in fiscal 2020, compared to £51.70 million of net loss in the previous year.
Hims & Hers quarterly update comes on the same day when FedEx also published market-beating results as COVID-19 fuelled demand for its delivery business.
Hims & Hers’ guidance for the first quarter
For the fiscal first quarter, Hims & Hers now forecasts its revenue to fall in the range of £139.84 million to £147.01 million. The U.S. company expects up to £32.27 million of adjusted EBITDA in Q1.
Chief Executive Andrew Dudum commented on the earnings report on Thursday and said:
“During the fourth quarter, with the 2020 election and a particularly unique holiday season as the backdrop, we saw advertising rates spike, so we took deliberate and careful steps to manage our expenses in the fourth quarter, which led to moderate quarter-over-quarter sales growth while still exceeding our full-year 2020 revenue plan.”
Hims & Hers performed largely upbeat in the stock market last year with an annual gain of close to 45%. At the time of writing, the company that sells personal care products has a market capitalisation of £2.09 billion.
The post Hims & Hers reports £3.73 million of net loss in the fourth quarter appeared first on Invezz.
from USA – Invezz https://ift.tt/3eWUNHo
Wajeeh Khan
Click here to Join RICH DAD SUMMIT online with ROBERT KIYOSAKI - $1 Training for Passive Income: https://bit.ly/RichDadSummitWealthTraining
0 Comments