Investing.com -- Hims & Hers Health Inc (NYSE: HIMS) shares fell 14.43% after the company reported first quarter results that missed Wall Street expectations on both revenue and profitability.

The telehealth company posted revenue of $608 million, up 3.8% YoY but below the consensus estimate of $617 million and BTIG's forecast of $620.1 million. Adjusted EBITDA of $44.3 million declined 51% YoY, falling short of the $47 million consensus and BTIG's $49.6 million estimate.

BTIG analysts commented that "the gross profit dollars of compounded products are likely much higher than brands, though this may be at least partly offset by dispensing Novo's products through the HIMS pharmacies, and collecting a dispensing fee."

The analysts added that "HIMS will need to aggressively manage sales and marketing costs, and operating expenses in order to be able to meet the revised EBITDA guidance."

The significant decline in adjusted EBITDA comes despite modest revenue growth, suggesting margin pressure during the quarter. The company's ability to manage costs while maintaining growth will be critical for meeting updated guidance targets.