Summary by Moomoo AI
Hims & Hers Health delivered exceptional Q2 2024 performance with revenue reaching $315.6 million, up 52% YoY, driven by strong subscriber growth to 1.9 million users. The company achieved significant profitability milestones with net income of $13.3 million, compared to a $7.2 million loss in Q2 2023, while Adjusted EBITDA grew to $39.3 million.The company demonstrated robust operational efficiency with gross margin at 81% and marketing expenses decreasing from 51% to 46% of revenue YoY. Free cash flow surged 377% YoY to $47.6 million, while maintaining a strong balance sheet with $227 million in cash and investments with no debt.Looking ahead, Hims & Hers raised its full-year 2024 guidance to $1.37-$1.40 billion in revenue and $140-$155 million in Adjusted EBITDA. The company also announced a new $100 million share repurchase program, reflecting confidence in its growth trajectory and commitment to delivering shareholder value.
