Hims(US:HIMS)2025-02-24 21:11Revenue and Growth - Revenue for 2024 was $1.5 billion, representing a 69% increase year-over-year[1] - Subscribers grew to 2.2 million, up 45% year-over-year[1] - Revenue for Q4 2024 reached $481,139,000, a 95% increase from $246,619,000 in Q4 2023[29] - Revenue for the year ended December 31, 2024, was $1,476,514,000, up from $872,000,000 in 2023, indicating a year-over-year growth of approximately 69%[37] - Online revenue for 2024 was $1.44 billion, a 71% increase from $842.4 million in 2023[4] Profitability - Net income for 2024 was $126 million, compared to a net loss of $(23.5) million in 2023[7] - Net income for the year ended December 31, 2024, was $126,038,000, a significant recovery from a net loss of $23,546,000 in 2023[32] - Net income for Q4 2024 was $26,025,000, a significant increase from $1,245,000 in Q4 2023, resulting in a net income margin of 5% compared to 1% in the previous year[37] Cash Flow and Liquidity - Free cash flow for 2024 was $198.3 million, compared to $47 million in 2023[7] - Free Cash Flow for Q4 2024 was $59,500,000, up from $10,785,000 in Q4 2023, reflecting a strong improvement in liquidity[39] - Cash provided by operating activities for the year was $251,084,000, compared to $73,483,000 in 2023, indicating improved operational efficiency[32] - Net cash provided by operating activities for the year ended December 31, 2024, was $251,084,000, compared to $73,483,000 in 2023, showing a substantial increase[39] EBITDA and Margins - Adjusted EBITDA for 2024 was $177 million, up from $49.5 million in 2023[7] - Adjusted EBITDA for Q4 2024 was $54,123,000, representing an increase from $20,570,000 in Q4 2023, with an Adjusted EBITDA margin of 11% compared to 8% in the previous year[37] - Adjusted EBITDA guidance for 2025 is projected to be between $270 million and $320 million[15] Expenses and Costs - Marketing expenses for Q4 2024 were $221,085,000, up from $125,895,000 in Q4 2023, reflecting increased investment in customer acquisition[29] - Stock-based compensation for the year ended December 31, 2024, totaled $92,322,000, up from $66,080,000 in 2023, indicating increased employee compensation related to performance[37] - The company incurred acquisition and transaction-related costs of $3,979,000 for the year ended December 31, 2024, compared to $3,016,000 in 2023[37] - Legal settlement expenses for the year ended December 31, 2024, were $2,008,000, with no such expenses reported in 2023[37] - The company reported a depreciation and amortization expense of $17,088,000 for the year ended December 31, 2024, compared to $9,515,000 in 2023[37] Assets and Liabilities - Total current assets increased to $395,831,000 in 2024 from $265,053,000 in 2023, driven by a rise in cash and cash equivalents[28] - Total liabilities rose to $230,823,000 in 2024, up from $97,157,000 in 2023, primarily due to increased accounts payable and deferred revenue[28] - The company reported a total stockholders' equity of $476,716,000 as of December 31, 2024, compared to $344,029,000 in 2023, indicating strong financial health[28] Future Outlook - The company expects full year 2025 revenue to be in the range of $2.3 billion to $2.4 billion[1] - Adjusted EBITDA and Free Cash Flow metrics are used by the company to evaluate ongoing operations and liquidity, although specific figures were not disclosed[33] - The company emphasizes that Adjusted EBITDA and Free Cash Flow should be considered alongside other financial performance measures, including net income and U.S. GAAP results[36][38]