Hims Hers Health Inc. Reports Strong Q3 Earnings

Investing.com — Hims Hers Health Inc (NYSE:HIMS) exceeded analyst expectations in its third-quarter earnings and raised its full-year guidance, fueled by remarkable subscriber growth and enhanced profitability.

The stock rose by 2.5% following the earnings announcement.

The health and wellness platform recorded adjusted earnings per share of $0.32, surpassing the analyst estimate of $0.10 by $0.22. Revenue for the quarter was $401.6 million, reflecting a 77% YoY increase and exceeding the consensus estimate of $382.2 million.

Hims & Hers' subscriber base reached 2.0 million, a 44% YoY increase, with over 1 million subscribers utilizing personalized solutions.

Andrew Dudum, co-founder and CEO, stated, "Our execution against a strategy that brings customers convenient, transparent, and affordable access to care designed specifically for them is allowing us to reach millions of individuals across the country."

For Q4, Hims & Hers anticipates revenue between $465 million and $470 million, surpassing the consensus of $421.1 million. The company has also raised its 2024 full-year revenue guidance to a range of $1.460 billion to $1.465 billion, up from the previous consensus of $1.4 billion.

CFO Yemi Okupe emphasized improving profitability, stating, "Our model is rapidly gaining scale, driving accelerating top line growth, improving profitability and strong cash flow."