$Hims & Hers Health (HIMS.US)$ Industry: Online pharmacy, te...

Industry: Online pharmacy, telehealth

Business description:
Online sales of prescription drugs and over-the-counter medications.
Telehealth services in areas such as men's hair care, sexual health, dermatology, weight management, mental health, etc.
Personalized medical advice and support.

Hair loss prevention products.
Acne products.
ADHD, mental health products.
ED products.
Dentistry.
- Weight loss product (GLP-1)

Performance:
First quarter of 2024:
Revenue: 0.125 billion dollars (87% increase compared to the same period last year)
Net loss: 30 million dollars (200% increase compared to the same period last year)
Loss per share: 0.15 dollars (0.05 dollars increase compared to the same period last year)

Revenue by segment:
•Prescription drugs: $61 million (73% increase year-on-year)
Over-the-counter drugs: $24 million (124% increase year-on-year)
Telehealth: $40 million (103% increase year-on-year)

Number of customers:
•2023: 0.77 million people (31% increase compared to the previous year)
・First quarter of 2024: 0.85 million people (28% increase year-on-year)

Hims & Hers has been growing rapidly in recent years.
In 2023, revenue reached $478 million, a 43% increase compared to the previous year. Additionally, it is projected that revenue will further increase by 50% to $720 million in 2024.
The following factors are supporting this growth:

Increased demand for online healthcare: Due to the impact of the pandemic, there has been an increase in people receiving medical services online.
Expansion of the male wellness market: The market for male hair care products and sexual enhancement drugs, among others, is expanding.
Expansion of women's business: Hers, a brand for women, was launched in 2020 and the business has been expanding.

Hims & Hers is expected to continue growing as a leading company in online health care.