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Hims & Hers
🇺🇸 NYSE:HIMS
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•
Mar 31, 2021

Hims & Hers Q1 2021 Earnings Report

Reported strong first-quarter results with robust revenue and gross profit growth, driven by increased subscriptions.

Key Takeaways

Hims & Hers Health, Inc. reported a strong first quarter in 2021, with revenue increasing by 74% year-over-year to $52.3 million. The company's gross margin improved to 77%, and it ended the quarter with 391,000 subscriptions, up nearly 80% year-over-year. However, the net loss increased to $(51.4) million due to one-time stock-based compensation and transaction bonus expenses related to the merger.

Revenue increased by 74% year-over-year to $52.3 million.

Gross margin improved to 77% compared to 69% in the first quarter of 2020.

The company ended the quarter with 391,000 subscriptions, up nearly 80% year-over-year.

Net loss was $(51.4) million, primarily driven by one-time stock-based compensation and transaction bonus expenses related to the merger.

Total Revenue
$52.3M
Previous year: $30.1M
+74.0%
EPS
-$0.3
Previous year: -$0.17
+76.5%
Gross Profit
$40.2M
Previous year: $20.6M
+95.2%
Cash and Equivalents
$88.2M
Previous year: $1.48M
+5850.5%
Total Assets
$346M
Previous year: $206M
+67.7%

Hims & Hers

Hims & Hers

Hims & Hers Revenue by Segment

Forward Guidance

Hims & Hers provides revenue and Adjusted EBITDA guidance for Q2 2021 and full year 2021.

Positive Outlook

  • Revenue to be in the range of $55 million to $57 million for the second quarter 2021.
  • Revenue to be in the range of $221 million to $227 million for the full year 2021.
  • Adjusted EBITDA to be in the range of $(10) million to $(12) million for the second quarter 2021.
  • Adjusted EBITDA to be in the range of $(35) million to $(45) million for the full year 2021.
  • The company exceeded Q1 2021 guidance and raises full year 2021 revenue expectations.

Challenges Ahead

  • Adjusted EBITDA to be in the range of $(10) million to $(12) million for the second quarter 2021.
  • Adjusted EBITDA to be in the range of $(35) million to $(45) million for the full year 2021.
  • Net loss was $(51.4) million for the first quarter 2021 compared to $(6.0) million for the first quarter 2020.
  • 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.
  • Adjusted EBITDA was $(8.6) million for the first quarter 2021 compared to $(4.6) million for the first quarter 2020.

Revenue & Expenses

Visualization of income flow from segment revenue to net income

Company Overview

Full financial data and analysis

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