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Updated · Bloomberg · May 11Hims & Hers Posts 40-Cent Q1 Loss as Weight-Loss Drug Competition Cuts Sales
5 articles · Updated · Bloomberg · May 11
- $608 million in first-quarter revenue missed Wall Street's $617.5 million average estimate, while Hims & Hers swung to a 40-cent-a-share loss.
- Rising competition in the weight-loss drug market pressured the company's performance, undermining a business area that had helped drive growth.
- The results marked a sharp reversal from a year earlier, when Hims & Hers reported a 20-cent-a-share profit.
The GLP-1 market is a 'Gold Rush,' so why are telehealth pioneers like Hims & Hers suddenly struggling to survive? With new oral drugs and an FDA crackdown, is the era of high-cost, compounded weight-loss treatments officially over?