1: Describe the stock movement
2: Explain the movement reasons based on the Q4 results and Q1 outlook
3: Mention the potential impact from the FDA announcement last week
Hims & Hers Health Inc. (HIMS) stock soared 5.09% in Wednesday's pre-market session, recovering from last week's selloff after reporting robust fourth-quarter results and an upbeat outlook, driven by robust demand for its weight-loss products.
The telehealth company's revenue skyrocketed to $481.1 million in the fourth quarter, up from $246.6 million a year earlier, fueled by strong sales of its GLP-1 weight-loss treatments. For the full year 2024, Hims & Hers' revenue surged 69% to $1.48 billion. Looking ahead to the first quarter of 2025, the company forecasted revenue between $520 million and $540 million and adjusted operating earnings of $55 million to $65 million.
However, Hims & Hers' stock had tumbled 22% last week after the Food and Drug Administration determined that the shortage of popular weight-loss drugs Wegovy and Ozempic had been resolved, potentially impacting the demand for the company's offerings. Nonetheless, investors seem encouraged by the company's robust performance and upbeat guidance, driving the pre-market rally.
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