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

Hims slides as Q2 revenue undershoots estimates and falls sequentially for the first time

Still, the telehealth company kept its full-year revenue guidance intact.

8/4/25 3:20PM

Hims & Hers dropped 9.5% in after-hours trading after the telehealth company reported quarterly revenue that missed Wall Street’s expectations and fell quarter to quarter for the first time.

Hims posted earnings per share of $0.17, higher than the $0.15 analysts polled by FactSet were expecting. But it also reported $544.8 million in revenue, less than the $552 million the Street was penciling in.

Hims kept its full-year revenue guidance of between $2.3 billion and $2.4 billion intact.

Hims announced in June that it had acquired UK-based peer Zava. The company paid $265.7 million for Zava, it disclosed on Monday. In its shareholder letter, it said it expects Zava to contribute $50 million of revenue through the remainder of the year.

The report gave investors a look at how the company was doing in the months leading up to and the weeks after its very public falling out with Novo Nordisk. The stock took a punch when the deal fell through but has since recovered those losses and then some.

The company had to stop selling exact copies of Novo’s Ozempic and Wegovy on May 22. Hims is still selling “personalized” versions of Novo’s blockbuster drugs, which is why Novo abruptly cut off its deal to offer cash-pay versions of its name-brand drug on the telehealth platform on June 23.

Hims reported that it sold $190 million worth of GLP-1s in the second quarter, compared to $230 million in the first quarter, when it was still allowed to sell exact copies. The company has a goal of making $725 million in revenue from its weight-loss segment, which also includes other drugs besides GLP-1s, this year.

Novo, which reports earnings on Wednesday, also recently cut its guidance, citing competition from compounders like Hims, though its sales are also slumping among insured patients.

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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.

SpaceX strikes $17B deal to buy EchoStar's spectrum for Starlink's direct-to-phone service | TechCrunch

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