After the market close, Hims & Hers Health shares plunged over 12% due to weaker-than-expected EBITDA guidance. Meanwhile, GitLab announced a major restructuring focused on AI, leading to a 7% stock drop. Cleanspark also faced headwinds, with shares falling 8% amid wider-than-anticipated losses.
The stock market saw significant after-hours activity with several prominent companies reporting earnings and offering future guidance. Investors reacted swiftly, causing notable price shifts for names like Hims & Hers Health, GitLab, and Cleanspark.
Hims & Hers Health Faces Investor Scrutiny
Shares of Hims & Hers Health experienced a significant drop of over 12% in after-hours trading. This downturn followed the telehealth company's second-quarter adjusted EBITDA guidance, which was projected to be between $35 million and $55 million. This forecast fell short of the $70 million expected by analysts polled by LSEG, raising concerns among investors about the company's near-term profitability.
Aecom Boosts Full-Year Outlook
In contrast, infrastructure consulting firm Aecom saw its stock rise by 1% after announcing an upward revision to its full-year adjusted earnings guidance. The company now expects earnings per share to be between $5.90 and $6.10, an increase from the previous estimate of $5.85 to $6.05. Aecom also reported a beat on both adjusted earnings and revenue for the second quarter, exceeding FactSet consensus estimates.
Archer Aviation Posts Strong Liquidity, Mixed Revenue
Archer Aviation, an aircraft manufacturer, saw its stock climb 2%. The company reported ending the first quarter with approximately $1.8 billion in liquidity, a strong indicator of financial health. However, its first-quarter revenue came in at $1.6 million, slightly below the $1.7 million anticipated by the FactSet consensus.
Webtoon Entertainment's Q2 Forecast Disappoints
Webtoon Entertainment faced a challenging after-hours session, with its shares tumbling 10%. The webtoon platform issued a second-quarter revenue forecast of $332 million to $342 million, falling short of the $348 million expected by FactSet analysts. Furthermore, its adjusted EBITDA forecast for the second quarter, projected between $0 million and $5 million, also missed the anticipated $12.1 million. The company's first-quarter revenue of $320.9 million also narrowly missed the consensus estimate of $321.6 million.
Cleanspark's Losses Widen Beyond Expectations
Shares of bitcoin miner and data center developer Cleanspark fell 8% after reporting wider-than-expected second-quarter losses. The company posted a loss of $1.52 per share, significantly exceeding the 56 cents per share loss anticipated by FactSet analysts. Second-quarter revenue also missed expectations, coming in at $136.4 million compared to the $145.4 million expected.
Mara Holdings Reports Larger Loss and Lower Revenue
Mara Holdings, a crypto miner, experienced a nearly 4% decline in its share price. The company reported a first-quarter loss of $3.31 per share, which was larger than the $1.51 per share loss anticipated by FactSet analysts. Revenue for the quarter was also lighter than expected, reported at $174.6 million against an estimate of $181.9 million.
AST SpaceMobile Reaffirms Outlook Amid Wider Losses
AST SpaceMobile, a satellite developer, saw its shares drop 11% in extended trading. While the company reaffirmed its full-year revenue outlook of $150 million to $200 million, which aligns with the Street's consensus estimate of $176.9 million per FactSet, its first-quarter losses were reported to be wider than anticipated.
GitLab Initiates Restructuring, Focuses on AI
GitLab's stock was down 7% in after-hours trading following an announcement by CEO Bill Staples regarding a significant restructuring plan. This overhaul is closely tied to the software company's strategic shift towards agentic AI and includes workforce reductions, management cuts, and a more concentrated geographic footprint. GitLab intends to reduce its operational countries by up to 30%, eliminate as many as three management layers, restructure R&D into approximately 60 smaller teams, and integrate agentic AI more deeply into its internal processes. Specific details on the number of positions affected and the financial impact will be disclosed on the company's June 2 earnings call.
