Companies /Healthcare
Hims & Hers Health Inc - Class A
NYSE: HIMS Drug Manufacturers - Specialty & Generic
$28.07
▼ $1.31 (−4.46%) today
Markets closed · 10:30pm ET

Hims & Hers (HIMS) Q2 2022 Earnings

Reported Aug 8, 2022, 4:24pm ET · SEC source
$-0.10
Miss −11.11%
EPS · est. $-0.09
$113.6M
Beat +9.32%
Revenue · est. $103.9M
+6.7%
Beating market
HIMS vs S&P since report
2 quarters
Consecutive EPS misses

How Did HIMS Stock React to Q2 2022 Earnings?

% change · around the report
−10%−5%0Aug 8Aug 9report 4:24pm ETearnings−0.4%−10.8%
−10%−5%0Aug 8Aug 9earnings−0.4%−10.8%
HIMS −10.8%S&P 500 −0.4%
−10%−5%0Aug 8Aug 9report 4:24pm ETearnings−1.1%−10.8%
−10%−5%0Aug 8Aug 9earnings−1.1%−10.8%
HIMS −10.8%NASDAQ −1.1%
−10%−5%0+5%Aug 8Aug 16report 4:24pm ETearnings+3.9%−0.3%
−10%−5%0+5%Aug 8Aug 16earnings+3.9%−0.3%
HIMS −0.3%S&P 500 +3.9%
−10%−5%0+5%Aug 8Aug 16report 4:24pm ETearnings+3.4%−0.3%
−10%−5%0+5%Aug 8Aug 16earnings+3.4%−0.3%
HIMS −0.3%NASDAQ +3.4%
−5.10%
Day of report
+7.74%
Next session
+9.95%
One week
+5.53%
30 days

S&P 500 over the same 30 days: −1.15%.

Did HIMS Beat Earnings? Q2 2022 Results

No. Hims & Hers reported Q2 2022 earnings of $-0.10 a share on Aug 8, 2022, missing the $-0.09 consensus estimate by 11.1%. Revenue was $113.6M against a $103.9M estimate.

Hims & Hers delivered a mixed but largely encouraging second quarter, posting revenue of $113.56 million, a gain of 87.1% year-over-year that cleared the $103.88 million consensus by 9.32%, even as its loss per share of $0.10 came in a penny wider than the $0.09 estimate Wall Street had penciled in. The primary engine behind the top-line strength was subscription growth, with the company ending the period at 817,000 active subscriptions, up 80% from a year ago, while net orders nearly doubled to 1.385 million. That momentum came at a cost, as marketing spend more than doubled to $60.49 million, widening the net loss to $19.68 million from $9.15 million a year earlier. Management responded to the strong demand signals by raising full-year 2022 revenue guidance to a range of $470 million to $485 million, with third-quarter revenue expected between $129 million and $132 million, and signaled confidence in reaching Adjusted EBITDA profitability within the next four quarters.

Key Takeaways
  • 87% year-over-year revenue growth driven by subscription momentum
  • 817,000 subscriptions at quarter end, up 80% year-over-year
  • Second consecutive quarter of over 100,000 net new subscriptions
  • AOV increased to $78 from $74 year-over-year
  • Net orders grew to 1.385 million from 786,000 year-over-year

“Our second quarter results were outstanding. Each day, our platform is enabling deep, emotional, and personalized connections, helping to solve consumer health and wellness challenges with authenticity and at a scale we've never seen before.”

Hims & Hers CEO, on the earnings call

What Was Hims & Hers's Outlook in Q2 2022?

For Q3 2022, Hims & Hers expects revenue in the range of $129 million to $132 million and Adjusted EBITDA in the range of $(9) million to $(7) million (Adjusted EBITDA margin of (7)% to (5)%). For full year 2022, the company raised its outlook, now expecting revenue in the range of $470 million to $485 million and Adjusted EBITDA of $(27) million to $(20) million (Adjusted EBITDA margin of (6)% to (4)%). The company also expects to achieve Adjusted EBITDA profitability within the next four quarters.

HIMS YoY Financials

Q2 2022 vs Q2 2021 · SEC filings Q2 2021 Q2 2022
$0$40.0M$80.0M$120.0M$60.7M$113.6MRevenue$47.3M$87.2MGross Profit$-24,032,853$-20,190,000Operating Income
$0$40.0M$80.0M$120.0MRevenueGross ProfitOperating Income
HIMS income statement, Q2 2022 versus Q2 2021
Metric Q2 2022 Q2 2021 Year over year
Revenue $113.6M $60.7M +87.1%
Gross Profit $87.2M $47.3M +84.4%
Operating Income −$20.2M −$24.0M −16.0%

HIMS Revenue by Segment

Online Revenue$107.5M+84.8%
Wholesale Revenue$6.1M

HIMS Revenue by Geography

United States
Rest of World

Figures from SEC filings and company reports. Not investment advice.