Hims’ Pivot to Branded Obesity Drugs Comes With Rising Costs

Hims & Hers Health Inc. reported a first-quarter loss and sales that missed Wall Street estimates as it faces higher costs associated with its strategic pivot to branded weight-loss medications.

Revenue was $608 million, the company said in a statement Monday, below the average analyst estimate of $617.5 million. The company reported a loss of 40 cents a share in the period, compared with profit of 20 cents a share a year ago.