What happened: Hims & Hers Health (HIMS) stock declined 3% before trimming losses on Tuesday.
What's behind the move: Shares were volatile after the telehealth company swung to a loss of $0.37 per share in the second quarter from a profit of $0.17 a share in the year-earlier period.
Gross margins in the second quarter were 64%, down from 76% in the year-earlier period.
The results were impacted by a one-time cost of $81 million during the quarter, including expenses related to the acquisition of the Australian-based digital health company Eucalyptus. The expenses were also related to restructuring following Hims & Hers' shift in weight-loss strategy earlier this year, as well as legal reserves tied to recent litigation with the Federal Trade Commission.
What else you need to know: Hims & Hers Health stock has been recovering from a drawdown earlier this year, as regulatory and legal risks surrounding the manufacturing of compounded GLP-1 weight-loss drugs have weighed on shares.
#hims #earlier #Health #quarter
What's behind the move: Shares were volatile after the telehealth company swung to a loss of $0.37 per share in the second quarter from a profit of $0.17 a share in the year-earlier period.
Gross margins in the second quarter were 64%, down from 76% in the year-earlier period.
The results were impacted by a one-time cost of $81 million during the quarter, including expenses related to the acquisition of the Australian-based digital health company Eucalyptus. The expenses were also related to restructuring following Hims & Hers' shift in weight-loss strategy earlier this year, as well as legal reserves tied to recent litigation with the Federal Trade Commission.
What else you need to know: Hims & Hers Health stock has been recovering from a drawdown earlier this year, as regulatory and legal risks surrounding the manufacturing of compounded GLP-1 weight-loss drugs have weighed on shares.
#hims #earlier #Health #quarter
4 days ago
