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Hims & Hers
🇺🇸 NYSE:HIMS
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Sep 30, 2022

Hims & Hers Q3 2022 Earnings Report

Reported financial results for the third quarter ended September 30, 2022.

Key Takeaways

Hims & Hers Health, Inc. reported exceptional performance in Q3 2022, with a 95% increase in revenue year-over-year. Net new subscriptions reached an all-time high, and the company raised its full-year 2022 revenue and Adjusted EBITDA guidance. The company expects Adjusted EBITDA profitability beginning in Q4 2022.

Revenue was $144.8 million, up 95% year-over-year.

Net new subscriptions reached an all-time high of over 170,000, ending Q3 2022 with 991,000 subscriptions, up 80% year-over-year.

Gross margin was 79% compared to 74% for the third quarter 2021.

The company raises full year 2022 revenue guidance to the range of $519 million to $522 million and Adjusted EBITDA guidance to the range of $(20) million to $(18) million

Total Revenue
$145M
Previous year: $74.2M
+95.3%
EPS
-$0.09
Previous year: -$0.08
+12.5%
Gross Profit
$114M
Previous year: $54.9M
+108.6%
Cash and Equivalents
$58M
Previous year: $64.8M
-10.5%
Total Assets
$383M
Previous year: $420M
-8.9%

Hims & Hers

Hims & Hers

Hims & Hers Revenue by Segment

Forward Guidance

For the fourth quarter 2022, the company expects revenue to be in the range of $159 million to $162 million and Adjusted EBITDA to be in the range of $0 million to $2 million. For the full year 2022, the company expects revenue to be in the range of $519 million to $522 million and Adjusted EBITDA to be in the range of $(20) million to $(18) million.

Positive Outlook

  • Revenue to be in the range of $159 million to $162 million for Q4 2022.
  • Adjusted EBITDA to be in the range of $0 million to $2 million for Q4 2022.
  • Revenue to be in the range of $519 million to $522 million for the full year 2022.
  • Adjusted EBITDA to be in the range of $(20) million to $(18) million for the full year 2022.
  • Adjusted EBITDA margin in the range of 0% to 1% for Q4 2022.

Challenges Ahead

  • Adjusted EBITDA to be in the range of $(20) million to $(18) million for the full year 2022.
  • Adjusted EBITDA margin in the range of (4)% to (3)% for the full year 2022.
  • The guidance constitutes forward-looking statements and actual results may differ materially.
  • The company has not reconciled forward-looking Adjusted EBITDA to its most directly comparable U.S. GAAP measure, net loss.
  • The ultimate outcome of certain components of such reconciliations, including market-related assumptions that are not within the company's control, or others that may arise, cannot be predicted with reasonable certainty without unreasonable effort.

Revenue & Expenses

Visualization of income flow from segment revenue to net income

Company Overview

Full financial data and analysis

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