Mon, May 5, 8:24 PM (12 days ago)
**Summary of Hims & Hers Health, Inc. (HIMS) Q1 2025 Financial Performance** **Revenue and Growth:** - **Total Revenue:** $586.0 million, up 111% year-over-year (YoY) from $278.2 million. - **Online Revenue:** $576.4 million, a 115% increase from $267.8 million. - **Wholesale Revenue:** $9.6 million, a 7% decrease from $10.4 million. - **Subscriber Growth:** 38% increase to approximately 2.4 million subscribers. - **Monthly Online Revenue per Average Subscriber:** $84, up 53% from $55. **Profit Margins:** - **Gross Profit:** $430.7 million, an 88% increase from $229.1 million. - **Gross Margin:** 73%, down from 82% due to newer offerings and strategic pricing. **Operating Expenses:** - **Marketing Expenses:** $231.2 million, a 77% increase from $130.6 million. - **Customer Acquisition Costs:** $201.6 million, up 88% from $113.2 million. - **Operations and Support:** $63.0 million, a 63% increase from $38.7 million. - **Technology and Development:** $29.9 million, a 95% increase from $15.3 million. - **General and Administrative:** $48.6 million, a 41% increase from $34.6 million. **Net Income and Earnings:** - **Net Income:** $49.5 million, a 345% increase from $11.1 million. - **Adjusted EBITDA:** $91.1 million, up from $32.4 million. - **Adjusted EBITDA Margin:** 16%, up from 12%. **Cash Flow:** - **Net Cash Provided by Operating Activities:** $109.1 million, up from $25.8 million. - **Net Cash Used in Investing Activities:** $32.8 million, compared to $13.0 million provided. - **Net Cash Used in Financing Activities:** $23.0 million, compared to $30.3 million used. **Liquidity and Capital Resources:** - **Cash and Cash Equivalents:** $273.7 million. - **Short-Term Investments:** $48.9 million. - **Revolving Credit Facility:** $175.0 million available. **Outlook and Uncertainties:** - **Future Operations Impact:** Continued investment in growth, expansion into new specialties, and potential acquisitions. - **Regulatory and Market Risks:** Dependence on regulatory compliance, market acceptance, and competitive dynamics. - **Operational Challenges:** Supply chain constraints, seasonality, and potential disruptions. **Key Metrics and Trends:** - **Subscriber Growth:** Driven by marketing activities and improved onboarding experiences. - **Revenue Trends:** Significant growth in Online Revenue, offset by a decrease in Wholesale Revenue. - **Profitability:** Achieved net income for the first time in Q1 2025, indicating improved financial health. **Conclusion:** Hims & Hers Health, Inc. demonstrated strong financial performance in Q1 2025, with significant revenue growth, improved profitability, and strategic investments in marketing and technology. However, the company faces challenges related to regulatory compliance, market competition, and operational efficiencies. The outlook remains positive, with continued focus on expansion and innovation.