According to its third-quarter earnings report released on November 9, Hims & Hers reported net loss of $33 million, a sharp reversal from last year's $15.8 million profit. Q3 revenue grew 49% year-over-year to $890.4 million but fell short of analyst expectations of $893 million. The telehealth platform's subscriber count declined sequentially to 2.79 million users from 2.89 million in Q2, missing market forecasts of 3.04 million.

The company lowered its full-year revenue guidance to $31.3 billion–$31.5 billion from a prior range of $31 billion–$33 billion. Stock price slid over 3% in after-hours trading, extending its one-year decline of nearly 70%.

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