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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.
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.
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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