Hims & Hers Reports Strong Q3 Earnings with $401.6M Revenue, Raises FY24 Guidance

Nov 4, 2024, 09:18 PM

Hims & Hers Health Inc. ($HIMS) reported strong Q3 2024 earnings, with revenue soaring 77% year-over-year to $401.6 million, surpassing the estimated $382.2 million. The company posted an EPS of $0.32, significantly beating the expected $0.04. Net income reached $75.6 million, supported by a $60.8 million tax benefit. The number of subscribers increased by 44% to 2 million. Adjusted EBITDA rose to $51.1 million from $12.3 million YoY, and the gross margin stood at 79%. Hims & Hers also raised its full-year guidance, forecasting FY2024 revenue between $1.46 billion and $1.465 billion, up from the previously estimated $1.4 billion. Additionally, the company provided Q4 2024 revenue guidance of $465-470 million. The stock responded positively, rising 4% in after-hours trading.