Hims & Hers Health Reports Better-Than-Expected Q1 Results, Strong Guidance

Hims & Hers Health Inc HIMS reported its first-quarter financial results after the bell Monday. Here's a look at the highlights. 

The Details: Hims & Hers Health reported quarterly GAAP earnings of 5 cents per share which beat the analyst consensus estimate of 2 cents by 150%.

Quarterly sales came in at $278.171 million which beat the analyst consensus estimate of $270.382 million by 2.88% and represents a 45.81% increase over sales of $190.77 million from the same period last year.

Subscribers grew to 1.7 million, up 41% year-over-year in the first quarter.

“We are pleased to begin the year with exceptional results and strong momentum throughout the business,” said Andrew Dudum, CEO of Hims & Hers. “Our ability to deliver consistent performance across our key metrics is being fueled by our ability to capitalize on the increasing demand for high-quality, personalized solutions in each of our core specialties. During the period, we added a record number of net new subscribers, increasing 41% versus a year ago and bringing us to 1.7 million subscribers on the Hims & Hers platform. We also delivered our first quarter of double-digit net income profitability.”

Outlook: Hims & Hers sees second-quarter revenue of between $292 million and $297 million, versus the $288.073 million estimate.

The company sees full-year 2024 revenue in a range of $1.20 billion to $1.23 billion, versus the $1.191 billion estimate.

Related News: What’s Going On With Disney Stock Ahead Of Earnings?

HIMS Price Action: According to Benzinga Pro, Hims & Hers Health shares are up 10.90% after-hours at $12.92 at the time of publication Monday.

Photo: Courtesy of Hims & Hers Health, Inc.