Summary by Moomoo AI
Hims & Hers Health reported strong Q3 2024 results with revenue reaching $401.6 million, up 77% YoY, driven by robust growth across both Hims and Hers brands. The company achieved net income of $75.6 million, including a $60.8 million tax benefit, compared to a $7.6 million loss in Q3 2023. Adjusted EBITDA was $51.1 million, up from $12.3 million last year.The company's subscriber base grew 44% YoY to 2 million, with monthly revenue per average subscriber increasing 24% to $67. Gross margin was 79%, while net cash from operations reached $85.3 million. The new weight loss offering has become a growth accelerator, with core subscriber growth excluding GLP-1 solutions up 40% YoY.Based on strong performance, Hims & Hers raised its full-year 2024 guidance, now expecting revenue of $1.46-1.47 billion and Adjusted EBITDA of $173-178 million. For Q4 2024, the company projects revenue of $465-470 million and Adjusted EBITDA of $50-55 million.
