Hims & Hers Health CEO Andrew Dudum told CNBC that a Federal Trade Commission lawsuit over the company's data-sharing and subscription practices "misunderstands how the company works," defending its compounded GLP-1 drug sales as helping lower prices for weight-loss treatments. The company's second-quarter revenue jumped nearly 40% year over year to $753 million, with 300,000 new subscribers pushing the global base to almost 3 million, and it raised its full-year revenue forecast to $3.1 billion-$3.3 billion. International revenue grew more than 17-fold to $131 million following the Eucalyptus acquisition. However, adjusted gross margin fell to 64% from 76% a year earlier, free cash flow was negative $68 million, and the company posted an $86.3 million net loss partly due to legal costs and acquisition charges. The FTC lawsuit, which targets the GLP-1 and subscription practices driving growth, adds legal and reputational exposure to a business already burning cash to expand.
Hims Hers Health IncAdjusted gross margin fell to 64% from 76%, free cash flow was negative $68M, and it posted an $86.3M net loss.
Microsoft Corporation
Shell plc