Revenue and Profit Growth - Revenue for Q3 2024 increased to $401.56 million, up 77% from $226.70 million in Q3 2023[13] - Gross profit for Q3 2024 rose to $317.89 million, a 70% increase from $187.31 million in Q3 2023[13] - Net income for Q3 2024 was $75.59 million, compared to a net loss of $7.57 million in Q3 2023[13] - Total comprehensive income for Q3 2024 was $75.99 million, compared to a loss of $7.44 million in Q3 2023[13] - Net income attributable to common stockholders for the three months ended September 30, 2024 was $72.665 million, compared to a net loss of $7.265 million for the same period in 2023[116] - The company's total revenue for the three months ended September 30, 2024, was $401.6 million, with online revenue contributing $392.6 million and wholesale revenue contributing $9.0 million[40] - For the nine months ended September 30, 2024, total revenue was $995.4 million, with online revenue at $967.2 million and wholesale revenue at $28.2 million[40] Expenses and Costs - Marketing expenses for Q3 2024 were $182.28 million, up 57% from $116.08 million in Q3 2023[13] - Technology and development expenses for Q3 2024 increased to $21.09 million, up 72% from $12.27 million in Q3 2023[13] - Total operating expenses for Q3 2024 were $295.51 million, a 51% increase from $195.86 million in Q3 2023[13] - Stock-based compensation increased to $67.97 million for the nine months ended September 30, 2024, up from $48.29 million in the same period in 2023[20] - The company incurred $1.3 million in acquisition costs related to the MedisourceRx acquisition, recorded within general and administrative expenses[52] - Operating lease costs for the nine months ended September 30, 2024, were $2.2 million, up from $1.7 million for the same period in 2023[69] - Payments to related-party company Vouched totaled $2.6 million for the nine months ended September 30, 2024[112] - Payments to former related-party company Terminal, Inc. totaled $3.3 million for the nine months ended September 30, 2023[113] Earnings Per Share and Shares Outstanding - Basic net income per share for Q3 2024 was $0.35, compared to a loss of $0.04 per share in Q3 2023[14] - Diluted net income per share for Q3 2024 was $0.32, compared to a loss of $0.04 per share in Q3 2023[14] - Weighted average shares outstanding (diluted) for Q3 2024 were 235.07 million, up from 210.13 million in Q3 2023[14] - Diluted net income per share for the three months ended September 30, 2024 was $0.32, compared to a net loss per share of $0.04 for the same period in 2023[116] - Weighted average shares outstanding, diluted, for the three months ended September 30, 2024 was 226.691 million, compared to 201.757 million for the same period in 2023[116] - RSUs excluded from the computation of diluted net income per share for the three months ended September 30, 2024 totaled 237,328, compared to 15.506 million for the same period in 2023[117] Cash Flow and Investments - Net cash provided by operating activities was $164.70 million for the nine months ended September 30, 2024, compared to $51.50 million in the same period in 2023[20] - Total cash, cash equivalents, and restricted cash increased to $166.37 million as of September 30, 2024, up from $58.85 million as of September 30, 2023[20] - The company invested $8.73 million in website development and internal-use software for the nine months ended September 30, 2024[20] - Purchases of property, equipment, and intangible assets totaled $17.14 million for the nine months ended September 30, 2024[20] - The company acquired a business for $15.40 million during the nine months ended September 30, 2024[20] - Cash and cash equivalents and short-term investments totaled $254.1 million as of September 30, 2024, an increase from $221.0 million as of December 31, 2013[201] Assets and Liabilities - Accumulated deficit increased to $369.42 million as of September 30, 2023, compared to $344.63 million as of December 31, 2022[18] - Total stockholders' equity increased to $328.56 million as of September 30, 2023, up from $311.74 million as of December 31, 2022[18] - Inventory increased to $49.11 million as of September 30, 2024, up from $22.46 million as of December 31, 2023, with finished goods rising to $28.14 million from $15.22 million[59] - Total prepaid expenses and other current assets grew to $23.19 million as of September 30, 2024, compared to $21.61 million as of December 31, 2023[60] - Property, equipment, and software, net increased to $52.14 million as of September 30, 2024, from $36.14 million as of December 31, 2023, with depreciation and amortization expenses of $8.6 million for the nine months ended September 30, 2024[61] - Intangible assets, net rose to $44.82 million as of September 30, 2024, up from $18.57 million as of December 31, 2023, with amortization expenses of $2.4 million for the nine months ended September 30, 2024[64][65] - Accrued liabilities increased to $43.22 million as of September 30, 2024, compared to $28.97 million as of December 31, 2023, with marketing expenses rising to $17.77 million from $12.33 million[67] - Future minimum lease payments under non-cancelable operating leases subsequent to September 30, 2024, total $14.58 million, with a present value of $11.36 million[71] - Total financial assets measured at fair value as of September 30, 2024, were $143.64 million, including $54.23 million in money market funds and $59.18 million in U.S. Treasury bills[75] - Total assets as of September 30, 2024, amounted to $167.666 million, with cash and cash equivalents at $42.492 million, short-term investments at $63.833 million, and restricted cash at $856 thousand[76] - The company has non-cancelable purchase obligations totaling $23.5 million, with $2.4 million payable in 2024, $8.8 million in 2025, $7.0 million in 2026, and $5.3 million in 2027[78] Share Repurchase and Equity Plans - Under the 2023 Share Repurchase Program, the company repurchased and retired 3,632,123 shares of Class A common stock for $48.0 million, fully utilizing the $50.0 million authorization[82] - The 2024 Share Repurchase Program authorizes the company to repurchase up to $100.0 million of Class A common stock, with $30.0 million already utilized and $70.0 million remaining as of September 30, 2024[83][84] - During the nine months ended September 30, 2024, the company released 5,068,997 gross shares of Class A common stock upon vesting of RSUs, with 1,780,064 shares withheld for employee taxes[85] - As of September 30, 2024, the company had 54,360,277 shares of Class A common stock reserved and 15,131,669 shares available for grant under the 2020 Equity Incentive Plan[87] - Under the Employee Stock Purchase Plan (ESPP), the company issued 366,524 shares of Class A common stock during the nine months ended September 30, 2024, with $1.8 million withheld via employee payroll deductions[88][90] - The intrinsic value of vested options exercised during the nine months ended September 30, 2024, was $33.6 million, with $8.6 million of unrecognized stock-based compensation expense related to unvested stock options[95][96] - Outstanding stock options as of September 30, 2024 totaled 11,044,000 shares, with 8,395,000 shares exercisable[98] - Unvested RSUs as of September 30, 2024 were 16,919,000 shares with a weighted average grant date fair value of $10.60[100] - Unrecognized stock-based compensation expense related to unvested RSUs was $167.8 million, expected to be recognized over 2.94 years[101] - Performance RSUs granted on March 1, 2023 had a total grant date fair value of $12.9 million[102] - Performance RSUs granted on February 28, 2024 had a total grant date fair value of $16.2 million[104] - Unrecognized stock-based compensation expense related to unvested PRSUs was $25.3 million, expected to be recognized over 1.98 years[105] - Outstanding Class A common stock warrants as of September 30, 2024 were 462,335 with a weighted average exercise price of $1.75 and aggregate intrinsic value of $7.7 million[106] - Stock-based compensation expense for the nine months ended September 30, 2024 totaled $67.97 million[111] Acquisitions and Goodwill - The company acquired MedisourceRx for $31.0 million, including $15.5 million in cash and $15.5 million in Class A common stock, with $1.8 million recorded as goodwill[50][55] - The 503B pharmacy license acquired in the MedisourceRx acquisition was valued at $28.6 million and will be amortized over ten years[54] - Goodwill of $1.8 million was acquired in 2024, with no impairment recorded for the three and nine months ended September 30, 2024, and 2023[35] Impairment and Valuation - The company recognized $0.1 million and $0.4 million in impairment charges on long-lived assets for the nine months ended September 30, 2024, and 2023, respectively[36] - The company recognized a one-time income tax benefit of $60.8 million during the three months ended September 30, 2024 related to the release of its domestic valuation allowance[121] - The effective income tax rate was (220.4)% for the three months ended September 30, 2024, compared to (9.4)% for the same period in 2023[119] - The company determined that a valuation allowance against its domestic deferred tax assets was no longer required as of September 30, 2024, primarily due to sustained tax profitability[120] Risk and Exposure - The company believes there will be no associated material exposure to interest rate risk due to the short-term nature of its investments[201] - The company does not have a material exposure to foreign currency risk as of September 30, 2024, but may increase exposure in the future with international expansion[202] Service Revenue and Refunds - Service revenue represented less than 10% of consolidated revenues for the three and nine months ended September 30, 2024, and 2023[42] - The company estimates refunds using the expected value method based on historical refunds, with the estimate updated at the end of each reporting period[45] VIEs and Related-Party Transactions - VIEs charged $129.9 million for services rendered for the nine months ended September 30, 2024, compared to $71.5 million for the same period in 2023, generating a net loss of $16.9 million[74]

Revenue and Income - Revenue for Q3 2024 was $401.6 million, representing a 77% increase year-over-year compared to $226.7 million in Q3 2023[5] - Net income for Q3 2024 was $75.6 million, which included a $60.8 million tax benefit, compared to a net loss of $(7.6) million in Q3 2023[5] - Total revenue for the first nine months of 2024 was $995.4 million, a 59% increase from $625.4 million in the same period of 2023[4] - Net income for the nine months ended September 30, 2024, was $100,013, compared to a loss of $24,791 for the same period in 2023[26] Subscribers and Growth - Subscribers reached 2.0 million, up 44% year-over-year from 1.4 million in Q3 2023[1] - The new weight loss offering is contributing to subscriber growth, with a 40% increase year-over-year excluding contributions from compounded GLP-1 solutions[2] Adjusted EBITDA and Margins - Adjusted EBITDA for Q3 2024 was $51.1 million, compared to $12.3 million in Q3 2023[5] - Adjusted EBITDA for the nine months ended September 30, 2024, was $122,750, up from $28,945 in the same period of 2023[31] - The Adjusted EBITDA margin for the nine months ended September 30, 2024, was 12%, compared to 5% in the same period of 2023[31] Cash and Assets - Cash and cash equivalents rose to $165,518,000 as of September 30, 2024, compared to $96,663,000 at the end of 2023, indicating improved liquidity[23] - Total current assets increased to $326,375,000 as of September 30, 2024, up from $265,053,000 at the end of 2023, driven by higher cash and inventory levels[23] - Cash, cash equivalents, and restricted cash at the end of the period totaled $166,374, compared to $58,852 at the end of September 2023[26] Operating Expenses and Liabilities - Operating expenses for the three months ended September 30, 2024, were $295,512,000, a significant increase from $195,862,000 in the same period last year, primarily due to higher marketing costs[24] - Total liabilities increased to $162,210,000 as of September 30, 2024, from $97,157,000 at the end of 2023, reflecting higher accounts payable and accrued liabilities[23] - The company reported a significant increase in accounts payable, rising to $35,052 for the nine months ended September 30, 2024, from $4,401 in 2023[26] Stockholders' Equity and Deficit - Total stockholders' equity increased to $440,051,000 as of September 30, 2024, compared to $344,029,000 at the end of 2023, reflecting the company's improved financial position[23] - The company’s accumulated deficit improved to $(268,162,000) as of September 30, 2024, from $(368,175,000) at the end of 2023, indicating a reduction in losses over the period[23] Future Guidance - The company raised its full-year 2024 revenue guidance to a range of $1.460 billion to $1.465 billion[1] - For Q4 2024, the company expects revenue of $465 million to $470 million and Adjusted EBITDA of $50 million to $55 million[7] Gross Profit and Margin - Gross margin for Q3 2024 was 79%, down from 83% in Q3 2023[5] - Gross profit for the nine months ended September 30, 2024, was $803,594,000, with a gross margin of 81%, compared to $510,891,000 and 82% in the prior year[24]

Core Viewpoint - Hims & Hers Health, Inc. is set to report its third-quarter 2024 results, with expectations of significant revenue growth and stable earnings per share compared to the previous year [1][2]. Financial Performance - The Zacks Consensus Estimate for third-quarter 2024 revenues is $384.2 million, reflecting a 69.5% increase from the same quarter last year [2]. - The consensus estimate for EPS is 6 cents, an improvement from a loss of 4 cents per share in the prior-year period [2]. - Over the last four quarters, the company has outperformed the Zacks Consensus Estimate three times, with an average earnings surprise of 71.7% [1][3]. Subscriber Growth - Hims & Hers has seen strong market acceptance, ending Q2 2024 with nearly 1.9 million subscribers, a 43% year-over-year increase [4]. - The company added over 155,000 net new users in the last quarter, with more than 40% of subscribers utilizing personalized solutions, marking a significant increase [4]. Product Expansion - The company has expanded its weight loss specialty by launching compounded GLP-1s across more than 30 states, covering over 60% of the U.S. population, with plans for nationwide availability by year-end [5]. - Hims & Hers is investing in personalized offerings and plans to launch new multi-condition treatments, focusing on interspecialty expansions [14]. Valuation Metrics - Hims & Hers has a forward 12-month price-to-sales (P/S) ratio of 2.2X, which is lower than the industry average of 3X, indicating potential for growth relative to expected sales [10]. - The stock has gained 111.6% year-to-date, outperforming the Medical Info Systems sector's decline of 48.8% and the S&P 500's rise of 20% [8]. Long-Term Outlook - The company is expected to maintain strong performance through 2024, driven by continued growth in net subscribers and optimistic management regarding product offerings [12]. - Recent initiatives, such as offering compounded GLP-1 subscriptions for $99 monthly to eligible groups, are anticipated to boost revenues [13]. Investment Considerations - The stock currently holds a Zacks Rank of 3 (Hold), with an Earnings ESP of -11.42%, suggesting lower chances of beating estimates [6][7]. - Despite the potential for growth, it may be prudent for new investors to wait for the earnings release before adding to their portfolios, while existing investors may consider holding their shares [17].

Disrupting pharmacies is just the start for Hims & Hers. One of the major opportunities in healthcare today is disrupting the status quo in pharmaceuticals. Hims & Hers (HIMS -3.64%) has brought a new model to the market and is growing extremely rapidly while becoming a go-to platform for millions of users. *Stock prices used were end-of-day prices of Oct. 28, 2024. The video was published on Oct. 30, 2024. ...

In the latest market close, Hims & Hers Health, Inc. (HIMS) reached $21.52, with a +0.65% movement compared to the previous day. The stock outperformed the S&P 500, which registered a daily gain of 0.22%. Meanwhile, the Dow experienced a drop of 0.33%, and the technology-dominated Nasdaq saw an increase of 0.76%.Shares of the company have appreciated by 23.87% over the course of the past month, outperforming the Medical sector's loss of 3.79% and the S&P 500's gain of 1.47%.The investment community will be ...

The GLP-1 drama continues at Hims & Hers.Hims & Hers (HIMS 1.85%) fell as much as 12% in trading on Wednesday after pharmaceutical company Novo Nordisk (NVO -0.56%) asked the FDA to not allow companies to compound GLP-1 semaglutide. This could be a direct hit to Hims & Hers business, but the impact may not be what you think, as Travis Hoium covers in this video.*Stock prices used were end-of-day prices of Oct. 23, 2024. The video was published on Oct. 23, 2024. ...

GLP-1s get all the attention, but Hims & Hers' core business is where the rocket growth is. Shares of Hims & Hers (HIMS -3.58%) have been all over the map over the past few months as GLP-1s have gone from tailwind to headwind for the company's growth. But the bigger picture tells us that GLP-1s don't have a big impact on earnings, and the company's platform will grow no matter what happens to any single product. Travis Hoium breaks down the company's growth in this video. *Stock prices used were end-of-day ...

Key Takeaways Hims & Hers shares gained Monday after the Food and Drug Administration said compounding pharmacies could continue to produce copycat weight-loss drugs while it reconsiders whether there is a shortage. The change would be a boon for Hims & Hers, which makes copycat weight-loss drugs, and has benefited from the limited availability of some obesity medicines. With Monday's gains, Hims & Hers shares have more than doubled in value since the start of the year. Hims & Hers Health (HIMS) shares surg ...

Shares of Hims & Hers Health Inc (NYSE:HIMS) are popping 10% higher to trade at $20.50 this morning, running higher off good news from the Food and Drug Administration (FDA). The FDA announced it will allow compounding pharmacies to create and sell their own version of Eli Lilly's (LLY) weight-loss drug Mounjaro. In response, HIMS is enjoying a healthy bull gap, pacing toward its highest close since July, and has now broken above the resistant $20 level. The stock sports a 230% year-over-year gain, but stil ...

Core Viewpoint - Hims & Hers is navigating challenges related to the availability of GLP-1 medications but maintains a positive outlook on its overall strategy and future prospects [1] Group 1: Company Strategy - The stock of Hims & Hers has experienced volatility due to concerns over GLP-1 availability [1] - The company’s strategy is not solely dependent on GLP-1 treatments, indicating a diversified approach to its offerings [1] Group 2: Market Context - The focus on GLP-1s may overlook the broader market strategy of Hims & Hers, which includes various health and wellness products [1] - The company is expected to remain resilient regardless of the regulatory environment surrounding GLP-1 medications [1]