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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.
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.
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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