Hims & Hers Health Reports Strong First Quarter Results
Hims & Hers Health Inc. (HIMS) reported its first-quarter financial results after the bell on Monday, exceeding analyst expectations and demonstrating strong momentum across the business.
Earnings: GAAP earnings per share came in at 5 cents, beating the analyst consensus estimate of 2 cents by 150%.
Quarterly sales reached $278.171 million, surpassing the analyst consensus estimate of $270.382 million by 2.88%. This represents a 45.81% increase compared to the same period last year.
The company's subscriber base grew to 1.7 million, reflecting a 41% year-over-year increase.
Andrew Dudum, CEO of Hims & Hers, expressed satisfaction with the company's performance, stating, "We are pleased to begin the year with exceptional results and strong momentum throughout the business." He attributed the success to the company's ability to capitalize on the growing demand for personalized healthcare solutions.
Hims & Hers projects second-quarter revenue between $292 million and $297 million, exceeding the analyst estimate of $288.073 million. For the full year 2024, the company anticipates revenue in the range of $1.20 billion to $1.23 billion, surpassing the $1.191 billion estimate.
Following the earnings release, Hims & Hers Health shares surged 10.90% after-hours, reaching $12.92 at the time of publication.