BUZZ-Hims & Hers shares fall as profit margins come under pressure and earnings forecasts are lowered

November 10 - ** The telemedicine company Hims & Hers Health (stock code: HIMS.N) saw its share price fall by 3.8% in pre-market trading to $22.06

** The company expects (link) annual revenue to be between $3.13 billion and $3.15 billion, compared with previous guidance of $3.10 billion to $3.30 billion

** Adjusted core profit guidance has been revised down from $275 million-$325 million to $257 million-$277 million

** According to data from the London Stock Exchange Group (LSEG), fourth-quarter revenue is expected to be $875 million to $895 million, while market expectations were $953.5 million

** Morningstar stated that as business weakness becomes increasingly apparent, the company’s performance in several areas has been disappointing

** Third-quarter net loss was $33 million, compared with a net profit of $15.8 million in the same period last year

** Quarterly gross margin fell to 57% from 74% a year earlier

** Brokerage Leerink stated: “While several initiatives are underway, it is now urgent to regain margin,” and lowered the price target from $30 to $24

** As of the previous trading day's close, the stock had fallen by 29.3% so far this year

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