HIMS Sets New 52WH, Continuing Trend following Recent Q4 and FY 2023 Financial Results

March 18, 2024

DENVER, Colo., Mar 18, 2024 (247marketnews.com)- Hims & Hers Health, Inc. (NYSE:HIMS) set another new 52-week high, its fifth since reporting its fourth quarter and full year 2023 financial results and upbeat guidance for 2024.

Hims & Hers reported, on March 4, a 65% year-over-year growth in revenue, to $872.0 million, $1.2 million net income, and 48% year-over-year subscriber growth to 1.5 million. HIMS is projecting that its full year 2024 revenue range will be $1.17-1.20 billion and Adjusted EBITDA in the range of $100-120 million.

“Our outstanding results in 2023 underscore the power of the Hims & Hers brands and superior execution across the organization,” said Andrew Dudum, co-founder and CEO. “We are continuing to advance our mission to make the world feel great through the power of better health, which is evident in the significant, consistent and category-leading revenue growth and market share gains we have been delivering. In 2024, we expect to eclipse $1 billion in revenue and deliver our first full year of net income profitability through a continued focus on building personalized and accessible treatments in each of our core specialties. We believe this approach will meaningfully break down barriers that keep individuals from seeking treatment, which will allow us to bring these unique offerings to tens of millions of subscribers over time.”

Yemi Okupe, CFO, stated, “The strong momentum our business is currently experiencing is the direct result of a simple but powerful strategy to provide users with access to high quality personalized care that is attractively priced and backed by a delightful experience from beginning to end. Our operational excellence, solid foundation for profitable growth and highly disciplined capital allocation framework position the Company to continue building upon this momentum in 2024 and beyond. Execution across these factors is driving the expected attainment of our 2025 Adjusted EBITDA target one year early and gives us direct line of sight to our 2025 revenue target.”

HIMS new 52-week high is $15.63 and is trading at $15.60, up $0.97 (+6.6%), on trading volume of 4,671,784 shares and has already exceeded its average daily trading volume of 4,320,603 shares.

We first started posting Hims & Hers coverage when it was in the $5 range and, as long as the volume remains strong, it looks like it wants to keep inching higher.

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