Hims & Hers Health Inc. (HIMS) stock surged 5.34% in Wednesday's pre-market session, rebounding after last week's selloff. The telehealth company's shares are rallying following its robust fourth-quarter earnings report and upbeat outlook, driven by strong demand for its weight-loss offerings.
The company reported a massive 95% year-over-year revenue jump to $481.1 million in Q4, fueled by robust sales of its GLP-1 weight-loss treatments. For the full year 2024, Hims & Hers' revenue skyrocketed 69% to $1.48 billion. Looking ahead, the company forecasted Q1 2025 revenue between $520 million and $540 million and adjusted operating earnings of $55 million to $65 million.
However, investors had previously sent the stock tumbling 22% last week after the FDA announced that the shortage of popular weight-loss drugs Wegovy and Ozempic had been resolved, potentially impacting demand for Hims & Hers' offerings. Nonetheless, the company's strong performance and optimistic guidance seem to have revived investor confidence, driving the pre-market rally.
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