A screenshot of Hims & Hers’ Super Bowl commercial (Sherwood News)

All eyes are on Hims’ weight-loss biz ahead of Monday earnings

The company’s stock, which is up more than 150% this year, has been on a wild ride.

8/1/25 10:58AM

Hims & Hers is set to report earnings after the bell on Monday, giving investors a peek at how its weight-loss business has held up amid a storm of controversy.

The company’s stock has been on a roller coaster this year, having now recovered its losses from a very public falling-out with pharmaceutical giant Novo Nordisk. On Monday, Hims investors will get clarity on how the company performed leading up to and in the weeks after that breakup.

Analysts are penciling in $551.7 million in revenue, which would be a 74% year-over-year increase, and earnings per share of $0.15.

Investors are eager for signs of how its weight-loss business is doing. Hims does not report revenue from weight-loss meds or other treatments as line items on its financial reports, though it did set an annual revenue goal of $725 million for its weight-loss business and tends to give some figures scattered in other materials or hints on its earnings call.

The earnings report will cover the months of April, May, and June. The company had to stop selling exact copies of Novo’s Ozempic and Wegovy on May 22, and its partnership with the drugmaker imploded on June 23.

Hims is still selling “personalized” versions of Novo’s blockbuster drugs, which is why the drugmaker abruptly cut off its deal to offer cash-pay versions of its name-brand drug on the telehealth platform. Novo also recently cut its guidance, citing competition from compounders like Hims, though its sales are also slumping among insured patients.

The Novo-Hims partnership was never seen as a significant revenue driver; it was relief from looming litigation risk from Novo and a nod toward the company’s long-term vision.

On Monday, analysts will likely ask how Hims plans to navigate its relationship with drugmakers moving forward.

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SpaceX spectrum deal sends would-be rivals lower

Shares of struggling satellite services company EchoStar soared Monday, after the company — which had recently tottered close to bankruptcy — announced the sale of some of its wireless spectrum licenses to Tesla CEO Elon Musk’s SpaceX for $17 million.

The sale provides a competitive advantage to Musk’s growing Starlink satellite services business, as the licenses it is acquiring from Echostar allows Starlink to operate ground based broadband and cellphone services, the Wall Street Journal reported.

Entities that stood to be hurt by the emergence of a Musk-led SpaceX Starlink service got hit hard on the news. AST SpaceMobile, which has plans to offer a similar satellite-to-consumer cellular service, tumbled.

So did wireless tower providers like Crown Castle and American Tower. Low cost cellular service provider T-Mobile, which had a deal with SpaceX, also slumped, as Luke noted earlier, along with other large wireless telecommunication services providers.

The wireless telecommunications industry grouping within the S&P 500 was down more than 2.5% shortly after noon, making it the worst performing industry within the S&P 500 on Monday.

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The wireless telecommunications industry grouping within the S&P 500 was down more than 2.5% shortly after noon, making it the worst performing industry within the S&P 500 on Monday.

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Hims rises, Novo dips after FDA releases “green list” of GLP-1 raw material suppliers

Hims & Hers rose and Novo Nordisk slipped in early trading after the US Food and Drug Administration released a "green list" of foreign GLP-1 ingredient suppliers that it considers in compliance with agency standards.

Some telehealth companies like Hims sell copycat versions of Novo's and Eli Lilly’s blockbuster weight-loss drugs through compounding pharmacies, which take the active ingredients from FDA-approved medications and make adjusted, or "personalized,” versions of the drug for patients.

Novo and Lilly have fought against this, arguing that it infringes on their intellectual property. They've sued smaller telehealth providers, pharmacies, and clinics in lieu of any action against them from the FDA. Instead, the FDA gave compounders a list of suppliers it deems safe.

Recent developments in the cases filed by the drugmakers so far as well as the FDA's recent actions suggest telehealth companies may be in a less risky position than investors previously thought. As of Monday morning, prediction markets pegged the likelihood of a suit from Novo against Hims at 34%, down from about 70% earlier this month.

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UNH rises after saying it plans to reiterate outlook

UnitedHealth rose 2% in early trading after it disclosed that it plans to reiterate its full-year earnings outlook when it meets with investors this week.

The company said on July 29 that it was expects to report annual adjusted earnings per share of at least $16. The company had previously pulled full-year guidance and prior to that withdrawal, had told investors it expected to see earnings of $26 to $26.50 per share.

Currently, a analysts polled by FactSet are penciling in $16.23, compared to $17.21 before the guidance came down.

UnitedHealth has had a tumultuous year as he industry has been hit with rising costs of care, and UnitedHealth specifically has been hit with investigations into its Medicare Advantage practices. It recently got a boost after Warren Buffett's Berkshire Hathaway revealed that it's built a stake in the company