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SummaryCompaniesCEO says company accelerating toward 2030 $6.5 billion revenue goalTalks with Novo to offer Wegovy through Hims' platform remain ongoingRevenue beat driven by core offerings - analyst Nov 3 (Reuters) - Hims and Hers Health (HIMS.N), opens new tab beat Wall Street estimates for third-quarter revenue on Monday, as the telehealth company added subscribers and expanded its personalized healthcare offerings. The company and rivals have launched programs that offer "personalized" versions of semaglutide, the active ingredient in Novo Nordisk's weight-loss drug Wegovy, at doses not accessible through the branded manufacturers, following the government's ban on the mass production of copies. Advertisement · Scroll to continueReport Ad Hims & Hers said it was in active talks with Novo to offer Wegovy injections and, once approved, an oral version through its platform. In June, a partnership between the two companies came to an end, with CEO Andrew Dudum accusing the Danish drugmaker of attempting to control clinical standards at Hims. Dudum maintained the company's goal of reaching $6.5 billion in revenue by 2030, banking on its investments in diagnostic providers, development of its own lab testing infrastructure, menopause and hormonal treatments and international expansion. "The opportunities to accelerate our trajectory are materializing quicker than anticipated, and we are leaning in," he said. Advertisement · Scroll to continue Get the key points from this story with Reuters AI Shares of the company were up more than 5% in after-market trading. Hims also reiterated that it expects to generate $725 million from its GLP-1 weight-loss drug offering in 2026. STRONG CORE GROWTH The company's subscriber base increased to 2.47 million, up 21% from the prior year, while monthly online revenue per average subscriber climbed 19% to $80. Keonhee Kim, an analyst at Morningstar, said Hims' online revenue growth was largely organic, even as the company in June acquired healthcare platform Zava to better reach consumers in the United Kingdom. "We think HIMS is still very much a fast-growth business that is willing to allocate a lot of capital at the cost of margins to fuel growth," said Kim, who estimated the company's core offerings generated an estimated $175 million in quarterly revenue. Chief Financial Officer Yemi Okupe said recent investments may temporarily slow profit growth this year, but seek to introduce long-term cash flow. Ad Break Coming Up NEXT StayNext OffEnglish 180p288p360p480p540p576p720pHD1080pHDAuto (180p) About ConnatixV2137053060 About ConnatixV2137053060 Continue watchingafter the adVisit Advertiser websiteGO TO PAGE Its quarterly revenue came in at $600 million, exceeding analysts' estimates of $580.2 million, according to LSEG data. The company reported an adjusted profit of 6 cents per share for the quarter ended September 30, lower than the average analyst estimate of 10 cents. Hims missed revenue estimates for the first time in two years last quarter, as the company stopped selling higher-priced branded Wegovy. It also flagged rising costs generated by its pivot to personalized compounding. Okupe said the company is now building out its supply chain for the production of GLP-1 drugs and other treatments, likely reducing costs. Reporting by Kamal Choudhury in Bengaluru and Amina Niasse in New York; Editing by Sriraj Kalluvila Purchase Licensing Rights
