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Hims & Hers
🇺🇸 NYSE:HIMS
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Sep 30, 2024

Hims & Hers Q3 2024 Earnings Report

Hims & Hers experienced growth and profitability in Q3 2024.

Key Takeaways

Hims & Hers Health, Inc. reported a strong third quarter in 2024 with revenue of $401.6 million, up 77% year-over-year. The company achieved a net income of $75.6 million and Adjusted EBITDA of $51.1 million. Subscriber base grew to 2.0 million, a 44% increase year-over-year. The company also raised its full year 2024 revenue guidance to a range of $1.460 billion to $1.465 billion and Adjusted EBITDA guidance to a range of $173 million to $178 million.

Revenue increased by 77% year-over-year, reaching $401.6 million in Q3 2024.

Net income was $75.6 million, including a $60.8 million tax benefit.

Adjusted EBITDA was $51.1 million, compared to $12.3 million in the same quarter last year.

The subscriber base grew to 2.0 million, reflecting a 44% year-over-year increase.

Total Revenue
$402M
Previous year: $227M
+77.1%
EPS
$0.32
Previous year: -$0.04
-900.0%
Gross Profit
$318M
Previous year: $187M
+69.7%
Cash and Equivalents
$166M
Previous year: $58M
+185.4%
Free Cash Flow
$79.4M
Previous year: $19.3M
+311.9%
Total Assets
$602M
Previous year: $414M
+45.5%

Hims & Hers

Hims & Hers

Hims & Hers Revenue by Segment

Forward Guidance

Hims & Hers provided revenue and Adjusted EBITDA guidance for Q4 2024 and full year 2024.

Positive Outlook

  • Revenue of $465 million to $470 million is expected for the fourth quarter of 2024.
  • Adjusted EBITDA of $50 million to $55 million is anticipated for Q4 2024, reflecting an Adjusted EBITDA margin of 11% to 12%.
  • Full year 2024 revenue is projected to be between $1.460 billion and $1.465 billion.
  • Adjusted EBITDA for the full year 2024 is expected to range from $173 million to $178 million, with an Adjusted EBITDA margin of 12.
  • Company is focused on driving top-line 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 reconciliations.
  • Market-related assumptions are not within their control.
  • The company is unable to assess the probable significance of the unavailable information.
  • Future developments affecting the company may not be those that they have anticipated.

Revenue & Expenses

Visualization of income flow from segment revenue to net income

Company Overview

Full financial data and analysis

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