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Hims & Hers
🇺🇸 NYSE:HIMS
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Sep 30, 2023

Hims & Hers Q3 2023 Earnings Report

Reported a strong third quarter with revenue growth and improved profitability.

Key Takeaways

Hims & Hers Health, Inc. reported a 57% year-over-year increase in revenue to $226.7 million for Q3 2023. The company achieved Adjusted EBITDA profitability of $12.3 million and grew its subscriber base to 1.4 million. They raised their full year 2023 revenue guidance to a range of $868 million to $873 million and Adjusted EBITDA guidance to a range of $43 million to $46 million.

Revenue increased by 57% year-over-year, reaching $226.7 million.

Net loss improved to $(7.6) million compared to $(18.8) million in the same quarter last year.

Adjusted EBITDA was $12.3 million, a significant improvement from $(6.1) million in the third quarter of 2022.

Subscribers grew to 1.4 million, representing a 56% increase year-over-year.

Total Revenue
$227M
Previous year: $145M
+56.5%
EPS
-$0.04
Previous year: -$0.09
-55.6%
Gross Profit
$187M
Previous year: $114M
+63.7%
Cash and Equivalents
$58M
Previous year: $58M
+0.1%
Free Cash Flow
$19.3M
Total Assets
$414M
Previous year: $383M
+8.1%

Hims & Hers

Hims & Hers

Hims & Hers Revenue by Segment

Forward Guidance

For the fourth quarter 2023, the company expects revenue of $243 million to $248 million and Adjusted EBITDA of $14 million to $17 million. For the full year 2023, they expect revenue of $868 million to $873 million and Adjusted EBITDA of $43 million to $46 million.

Positive Outlook

  • Revenue of $243 million to $248 million is expected for Q4 2023.
  • Adjusted EBITDA of $14 million to $17 million is expected for Q4 2023, reflecting an Adjusted EBITDA margin of 6% to 7%.
  • Revenue of $868 million to $873 million is expected for the full year 2023.
  • Adjusted EBITDA of $43 million to $46 million is expected for the full year 2023, reflecting an Adjusted EBITDA margin of approximately 5%.
  • Company anticipates continued growth and profitability.

Challenges Ahead

  • Guidance constitutes forward-looking statements and actual results may differ materially.
  • The company cannot predict with reasonable certainty the ultimate outcome of certain components of such reconciliations.
  • Market-related assumptions are not within the company's control.
  • The company is unable to assess the probable significance of the unavailable information, which could materially impact the amount of future net loss.
  • Future results will be affected by expenses or any unusual or non-recurring items.

Revenue & Expenses

Visualization of income flow from segment revenue to net income

Company Overview

Full financial data and analysis

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