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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.
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.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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