By coinnews 
00:00 Speaker A
Hims and Hers is also out with its first quarter earnings numbers, and it’s announcing a new add to its C-suite as well. To bring us the latest members and the news, we’re joined by our health reporter, Angelique Hamlani. So, what’s the news here? What are the numbers?
00:15 Angelique Hamlani
Yeah, so we’ve got, uh, good numbers for the company. Of course, we know that this company has been boosted by the GLP-1s with its relationships with some of the manufacturers. Take a look at what we saw in terms of the revenue. That is a beat compared to estimates, 586 million for the quarter compared to 538 million. Um, and then they did also reaffirm their guidance for the year. So that’s also good to know that they’re not really being affected by the macro, uh, you know, scenario. What we do want to take, uh, pay more attention to is also what, um, CEO Andrew Dudum said in the release that just crossed the wires talking about more relationships developing with pharmacies. This is really good news because the company has sort of been stuck in that telehealth platform world, which we’ve seen kind of take a bit of a dive in the last couple of, you know, quarters and years. And that has been, uh, you know, one of the one of the things to look forward to. The GLP-1s, of course, something to keep an eye on for the rest of the year. Hims and Hers was one of those companies that did sell those compounded products from these branded drug makers and then has since pivoted to, uh, boosting their relationship with them and being able to do a better job of getting, you know, more of those products out there. Questions of whether or not that will actually pressure their margins for the future, you know, considering this is going to be more branded products versus those cheaper compounded, plus what the access will then look like. All is kind of dependent on these manufacturers, and so that makes Hims one of those stocks that tends to trade pretty quickly with whatever the the environment is in that area. You can see the stock down on, uh, some of the news, despite the beat, essentially for that. And so that’s sort of all we’re, uh, keeping an eye on right now. You mentioned, of course, the news about appointing, uh, a Amazon veteran as their chief operations officer. And so that’s another piece of information to keep an eye on. Of course, we know, uh, looking at what the company has needed to do to build up over the time to kind of meet the moment and the attention on it, as I mentioned, as it keeps trading with some of the GLP-1 news.
03:59 Speaker A
Thank you, Ange. Appreciate it.