https://assets.capyfin.com/instruments/678fdc13234e27009c5d5fec.png avatar
Hims & Hers
🇺🇸 NYSE:HIMS
View Company
OverviewEarningsDividends
•
Mar 31, 2023

Hims & Hers Q1 2023 Earnings Report

Reported strong Q1 2023 results with significant revenue growth and improved profitability.

Key Takeaways

Hims & Hers Health, Inc. reported an 88% year-over-year increase in revenue to $190.8 million for Q1 2023. The company achieved adjusted EBITDA profitability of $6.1 million and grew its subscriber base to over 1.2 million. They also raised the full year 2023 revenue guidance to a range of $810 million to $830 million and Adjusted EBITDA guidance to a range of $25 million to $30 million.

Revenue increased by 88% year-over-year, reaching $190.8 million in Q1 2023.

The company reported a net loss of $10.1 million, with adjusted EBITDA profitability of $6.1 million in Q1 2023.

Subscribers grew to over 1.2 million, representing an 87% increase year-over-year in Q1 2023.

Full year 2023 revenue guidance was raised to $810 million - $830 million and Adjusted EBITDA guidance to $25 million - $30 million.

Total Revenue
$191M
Previous year: $101M
+88.3%
EPS
-$0.05
Previous year: -$0.08
-37.5%
Gross Profit
$153M
Previous year: $74.8M
+105.2%
Cash and Equivalents
$48.7M
Previous year: $48.3M
+1.0%
Total Assets
$376M
Previous year: $382M
-1.5%

Hims & Hers

Hims & Hers

Hims & Hers Revenue by Segment

Forward Guidance

Hims & Hers provides revenue guidance of $200 million to $205 million and Adjusted EBITDA of $4 million to $7 million for the second quarter 2023. For the full year 2023, the Company expects revenue of $810 million to $830 million and Adjusted EBITDA of $25 million to $30 million.

Positive Outlook

  • Expects Q2 2023 revenue of $200 million to $205 million.
  • Expects Q2 2023 Adjusted EBITDA of $4 million to $7 million.
  • Projects full year 2023 revenue of $810 million to $830 million.
  • Anticipates full year 2023 Adjusted EBITDA of $25 million to $30 million.
  • Reflects an Adjusted EBITDA margin of 2% to 3% for Q2 2023.

Challenges Ahead

  • Guidance constitutes forward-looking statements and actual results may differ materially.
  • Has not reconciled forward-looking Adjusted EBITDA to its most directly comparable U.S. GAAP measure, net loss.
  • Cannot predict with reasonable certainty the ultimate outcome of certain components of such reconciliations.
  • Unable to assess the probable significance of the unavailable information, which could materially impact the amount of future net loss.
  • Market-related assumptions are not within their control.

Revenue & Expenses

Visualization of income flow from segment revenue to net income

Company Overview

Full financial data and analysis

View Hims & Hers