RTTNews | May 17, 2021 09:48AM EDT

09:47 Monday, May 17, 2021 (RTTNews.com) - Shares of Hims & Hers Health Inc. (HIMS) are rising over 7% Monday morning, after the company raised its fiscal 2021 revenue guidance, while reporting upbeat Q1 revenue. The stock, which has been trading in the range of $8.09 - $25.40 for the past one year, is currently trading at $9.48, up 64 cents or 7.24%, with trading volume of over 276K versus an average volume of 1.86 million shares.

The company now expects fiscal 2021 revenue to be in the range of $221 million - $227 million, and Q2 in the range of $55 million - $57 million. Three Wall Street analysts have a consensus revenue estimate of $202.02 million for the year 2021, and $50.23 million for the second quarter.

Previously, the company expected 2021 revenue in the range of $195 million - $205 million.

Q1 Results

The company reported Q1 net loss of $51.4 million or $0.34 per share compared to a loss of $6.03 million or $0.17 per share last year. The year-over-year increase in net loss was primarily driven by one-time stock-based compensation and transaction bonus expenses related to the merger with Oaktree Acquisition Corp.

Revenue for the quarter $52.3 million, an increase of 74%, compared to the previous year's $30.1 million.

Analysts polled by Thomson Reuters expected a loss of $0.10 per share and revenue of $48.81 million for the quarter. Analysts' estimate typically exclude certain special items.

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