Hims & Hers raises annual revenue forecast on strong subscriber growth

The company also raised its full-year revenue guidance to $3.1 billion to $3.3 billion from $2.8 billion to $3 billion previously.

Hims has a goal of reaching $6.5 billion in revenue by 2030.

The company's subscriber base increased to nearly 2.9 million in the second quarter, up 19% from a year earlier, while monthly online revenue per average subscriber climbed 21% to $92.

Hims, which sells treatments including weight-loss drugs and hormone therapies, has also been shifting its strategy toward personalized treatments, amid tightening regulatory scrutiny.

NEW YORK, Aug 10 (Reuters) - Hims & Hers Health on Monday raised its annual revenue forecast and said it beat second-quarter revenue estimates, as the telehealth company benefited from an increase in subscribers and expanding its personalized healthcare offerings.

The company has said that its pivot to FDA-approved treatments such as Novo Nordisk's Wegovy helped drive engagement and traffic across its platform, although it weighed on its margins.

Hims reported second-quarter gross margin of 64%, down from 76% a year ago.

Shares of the company were down 1.3% in volatile aftermarket trading.

In May, Hims said it would pivot to offering branded weight-loss drugs, moving away from lower-cost compounded GLP-1 treatments that had helped drive growth to branded versions.

The company also announced a partnership with Novo Nordisk in March to offer its blockbuster weight-loss drug, Wegovy, on its platform after the FDA moved to restrict copycat weight-loss drugs, ending a legal dispute between the companies.