Hims & Hers health continues to grow, beats earnings and revenue estimates

$HIMS(HIMS)

Hims & Hers Health, a prominent player in the telehealth sector, has surpassed both earnings per share (EPS) and revenue forecasts for the fourth quarter of the fiscal year 2023. The company reported an EPS of $0.01, beating the expected ($0.02), and showcased a 47.4% year-over-year increase in revenue to $246.6 million, aligning with projections.

The company witnessed a substantial increase in its subscriber count, reaching 1.5 million in Q4 2023, a 48% growth from the previous year. This surge underscores Hims & Hers Health's proficiency in attracting and retaining a robust customer base, a crucial component for sustained success.

For the first quarter of 2024, Hims & Hers Health has set an optimistic revenue forecast between $267 million and $272 million, eclipsing the predicted $253.27 million. The company also anticipates an Adjusted EBITDA between $22 million and $27 million, aiming for an Adjusted EBITDA margin of 8% to 10%.

Looking further ahead, the company projects a bright fiscal year 2024, with expected revenues ranging from $1.17 billion to $1.20 billion, outpacing the forecasted $1.11 billion. The Adjusted EBITDA forecast for the year is set between $100 million and $120 million, aiming for a margin of 9% to 10%.

These projections signify Hims & Hers Health's trajectory towards sustained growth and profitability. The company's ability to exceed financial expectations and issue a promising outlook is a robust indicator of its financial well-being and future prospects.

With shares of Hims & Hers Health climbing over 15% year-to-date and a recent uptick in stock performance, the company's impressive results and optimistic forecast are likely factors in its growing investor appeal.

HIMS shares are up nearly 20% in after hours trade following the release.