Shares of Hims & Hers Health tumbled 18% premarket on Tuesday as Wall Street analysts questioned the telehealth provider's lofty sales forecast in the face of looming restrictions on compounded weight-loss drugs.

Revenue excluding its GLP-1 offering increased 43% to $1.2 billion in 2024 from a year earlier, said Chief Financial Officer Yemi Okupe. Including sales of its weight-loss treatments, revenue surged 69% to nearly $1.48 billion in 2024 from $872 million in 2023.