Investing.com -- Hims Hers Health Inc (NYSE:HIMS) reported third-quarter earnings that surpassed analyst expectations and raised its full-year guidance, driven by strong subscriber growth and improving profitability.
The stock was up 2.5% following the earnings release.
The health and wellness platform posted adjusted earnings per share of $0.32, beating the analyst estimate of $0.10 by $0.22. Revenue for the quarter came in at $401.6 million, up 77% YoY and exceeding the consensus estimate of $382.2 million.
Hims&Hers saw its subscriber base grow to 2.0 million, a 44% increase YoY. The company noted that over 1 million subscribers are now utilizing personalized solutions.
"Our execution against a strategy that brings customers convenient, transparent, and affordable access to care designed specifically for them is allowing us to reach millions of individuals across the country," said Andrew Dudum, co-founder and CEO.
For the fourth quarter, Hims&Hers expects revenue between $465 million and $470 million, above the consensus of $421.1 million. The company raised its full-year 2024 revenue guidance to a range of $1.460 billion to $1.465 billion, up from the previous analyst consensus of $1.4 billion.
CFO Yemi Okupe highlighted the company's improving profitability, stating, "Our model is rapidly gaining scale, driving accelerating top line growth, improving profitability and strong cash flow."
This content was originally published on Investing.com
