Hims & Hers Beats Q1 Estimates, Stock Up 12.7%, Raises Revenue Outlook

May 7, 2024, 10:10 PM

Hims & Hers Health Inc. reported strong first-quarter results for 2024, with earnings per share (EPS) of $0.05, beating estimates of $0.02, and revenue reaching $278.2 million, surpassing the expected $270 million. The company's subscriber count increased by 41% year-over-year to 1.7 million. Net income was $11.1 million, and adjusted EBITDA for the quarter was $32.3 million, also beating estimates. Looking ahead, Hims & Hers provided an optimistic outlook, projecting Q2 revenues between $292 million and $297 million and adjusted EBITDA between $30 million and $35 million, with an anticipated adjusted EBITDA margin increase. The full-year revenue forecast was raised to $1.25 billion from the previous estimate of $1.2 billion. The CEO commented, 'We are pleased to begin the year with exceptional results.' Following the announcement, the company's stock rose by 12.7% after hours.