Revenue of $401.6 million, up 77%
year-over-year in Q3 2024
Net income of $75.6 million; Adjusted EBITDA of
$51.1 million in Q3 2024
Subscribers grew to 2.0 million, up 44%
year-over-year in Q3 2024
Raises full year 2024 revenue guidance to a
range of $1.460 billion to $1.465 billion and Adjusted EBITDA
guidance to a range of $173 million to $178 million
Hims & Hers Health, Inc. (“Hims & Hers” or the
“Company”, NYSE: HIMS), the leading health and wellness platform,
today announced financial results for the third quarter ended
September 30, 2024 in a shareholder letter that is posted at
investors.hims.com.
“Improving momentum in both the Hims and Hers brands delivered
another strong quarter of growth and profitability,” said Andrew
Dudum, co-founder and CEO. “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. In the third quarter,
we eclipsed 2 million subscribers on our platform, with more than 1
million utilizing a personalized solution. These are significant
milestones and confirm we are on a path to helping an American in
every household feel great through the power of better health.”
Yemi Okupe, CFO, stated, “Our model is rapidly gaining scale,
driving accelerating top line growth, improving profitability and
strong cash flow. We are seeing this strength across our business.
Our new weight loss offering is helping a growing number of people
and providing an accelerant to what was already a robust
trajectory. These strong underlying trends continued as subscriber
growth excluding contributions from our compounded GLP-1 solutions
increased 40% year-over-year, benefiting from improving brand
awareness, broader personalization initiatives, and new customers
accessing care for multiple conditions. Our ability to unlock
access to high-quality, personalized care continues to expand,
further instilling confidence that our model is positioned to help
tens of millions of individuals over time.”
Key Business Metrics
(In Thousands, Except for Monthly Online
Revenue per Average Subscriber and AOV, Unaudited)
Three Months Ended September
30,
Nine Months Ended September
30,
2024
2023
% Change
2024
2023
% Change
Subscribers (end of period)
2,047
1,426
44
%
2,047
1,426
44
%
Monthly Online Revenue per Average
Subscriber
$
67
$
54
24
%
$
60
$
55
9
%
Net Orders
2,664
2,222
20
%
7,652
6,378
20
%
AOV
$
147
$
99
48
%
$
126
$
95
33
%
Revenue
(In Thousands, Unaudited)
Three Months Ended September
30,
Nine Months Ended September
30,
2024
2023
% Change
2024
2023
% Change
Online Revenue
$
392,573
$
219,665
79
%
$
967,177
$
605,018
60
%
Wholesale Revenue
8,983
7,034
28
%
28,198
20,363
38
%
Total revenue
$
401,556
$
226,699
77
%
$
995,375
$
625,381
59
%
Third Quarter 2024 Financial Highlights
- Revenue was $401.6 million for the third quarter of 2024
compared to $226.7 million for the third quarter of 2023, an
increase of 77% year-over-year.
- Gross margin was 79% for the third quarter of 2024
compared to 83% for the third quarter of 2023.
- Net income was $75.6 million for the third quarter of
2024, which included a $60.8 million tax benefit related to the
release of a tax valuation allowance, partially offset by current
period tax expense. This compared to a net loss of $(7.6) million
for the third quarter of 2023.
- Adjusted EBITDA was $51.1 million for the third quarter
of 2024 compared to $12.3 million for the third quarter of
2023.
- Net cash provided by operating activities was $85.3
million for the third quarter of 2024 compared to $25.2 million for
the third quarter of 2023.
- Free Cash Flow was $79.4 million for the third quarter
of 2024 compared to $19.3 million for the third quarter of
2023.
Reconciliations of Adjusted EBITDA and Free Cash Flow, non-GAAP
measures, to net income (loss) and net cash provided by operating
activities, respectively, their most comparable financial measures
under generally accepted accounting principles in the United States
(“U.S. GAAP”), have been provided in this press release in the
accompanying tables. Additional information about Adjusted EBITDA
and Free Cash Flow is also included below under the heading
“Non-GAAP Financial Measures”.
Financial Outlook
Hims & Hers is providing the following guidance:
For the fourth quarter 2024, we expect:
- Revenue of $465 million to $470 million.
- Adjusted EBITDA of $50 million to $55 million, reflecting an
Adjusted EBITDA margin of 11% to 12%.
For the full year 2024, we expect:
- Revenue of $1.460 billion to $1.465 billion.
- Adjusted EBITDA of $173 million to $178 million, reflecting an
Adjusted EBITDA margin of 12%.
The guidance provided above constitutes forward-looking
statements and actual results may differ materially. Refer to the
“Cautionary Note Regarding Forward-Looking Statements” safe harbor
section below for information on the factors that could cause our
actual results to differ materially from these forward-looking
statements.
We have relied upon the exception in Item 10(e)(1)(i)(B) of
Regulation S-K and have not reconciled forward-looking Adjusted
EBITDA to its most directly comparable U.S. GAAP measure, net
income (loss), because we cannot predict with reasonable certainty
the ultimate outcome of certain components of such reconciliations,
including market-related assumptions that are not within our
control, or others that may arise, without unreasonable effort. For
these reasons, we are unable to assess the probable significance of
the unavailable information, which could materially impact the
amount of future net income (loss). See “Non-GAAP Financial
Measures” for additional important information regarding Adjusted
EBITDA.
Conference Call
Hims & Hers will host a conference call to review the third
quarter 2024 results on November 4, 2024, at 5:00 p.m. ET. The
conference call can be accessed by dialing +1 (888) 510-2630 for
U.S. participants and +1 (646) 960-0137 for international
participants, and referencing conference ID #1704296. A live audio
webcast will be available online at investors.hims.com. A replay of
the call will be available via webcast for on-demand listening
shortly after the completion of the call at the same link.
About Hims & Hers Health, Inc.
Hims & Hers is the leading health and wellness platform on a
mission to help the world feel great through the power of better
health.
We believe how you feel in your body and mind transforms how you
show up in life. That’s why we’re building a future where nothing
stands in the way of harnessing this power. Hims & Hers
normalizes health & wellness challenges—and innovates on their
solutions—to make feeling happy and healthy easy to achieve. No two
people are the same, so the Company provides access to personalized
care designed for results.
For more information, please visit investors.hims.com.
Cautionary Note Regarding Forward-Looking Statements
This press release includes forward-looking statements within
the meaning of Section 27A of the Securities Act of 1933, as
amended and Section 21E of the Securities Exchange Act of 1934, as
amended. These forward-looking statements can be identified by the
use of forward-looking terminology, including the words “believe,”
“estimate,” “anticipate,” “expect,” “assume,” “imply,” “intend,”
“plan,” “may,” “will,” “potential,” “project,” “predict,”
“continue,” “could,” “confident,” “confidence,” or “should,” or, in
each case, their plural, their negative or other variations or
comparable terminology. There can be no assurance that actual
results will not materially differ from expectations. Such
statements include, but are not limited to, any statements relating
to our financial outlook and guidance, including our mission to
drive top-line growth and profitability and our ability to attain
our medium- and long-term financial targets; our expected future
financial and business performance, including with respect to the
Hims & Hers platform, our marketing campaigns, investments in
innovation, the solutions accessible on our platform, and our
infrastructure, and the underlying assumptions with respect to the
foregoing; statements relating to events and trends relevant to us,
including with respect to our regulatory environment, financial
condition, results of operations, short- and long-term business
operations, objectives, and financial needs; expectations regarding
our mobile applications, market acceptance, user experience,
customer retention, brand development, our ability to invest and
generate a return on any such investment, customer acquisition
costs, operating efficiencies and leverage (including our
fulfillment capabilities), the effect of any pricing decisions,
changes in our product or offering mix, the timing and market
acceptance of any new products or offerings (including compounded,
generic and branded GLP-1 medications), the timing and anticipated
effect of any pending acquisitions, the success of our business
model, our market opportunity, our ability to scale our business,
the growth of certain of our specialties, our ability to innovate
on and expand the scope of our offerings and experiences, including
through the use of data analytics and artificial intelligence, our
ability to reinvest into the customer experience, and our ability
to comply with the extensive, complex and evolving legal and
regulatory requirements applicable to our business, including
without limitation state and federal healthcare, privacy and
consumer protection laws and regulations, and the effect or outcome
of any litigation or governmental actions that may arise in
relation to any such legal and regulatory requirement. These
statements are based on management’s current expectations, but
actual results may differ materially due to various factors.
The forward-looking statements contained in this press release
are based on our current expectations and beliefs concerning future
developments and their potential effects on us. Future developments
affecting us may not be those that we have anticipated. These
forward-looking statements involve a number of risks, uncertainties
(some of which are beyond our control) and other assumptions that
may cause actual results or performance to be materially different
from those expressed or implied by these forward-looking
statements. These risks and uncertainties include, but are not
limited to, those factors described in the “Risk Factors” section
of each of our most recently filed Quarterly Report on Form 10-Q,
our most recently filed Annual Report on Form 10-K, and any of our
subsequent filings with the Securities and Exchange Commission (the
“Commission”).
Should one or more of these risks or uncertainties materialize,
or should any of our assumptions prove incorrect, actual results
may vary in material respects from those projected in these
forward-looking statements. We undertake no obligation (and
expressly disclaim any obligation) to update or revise any
forward-looking statements, whether as a result of new information,
future events or otherwise, except as may be required under
applicable securities laws. These risks and others described in the
“Risk Factors” section of each of our most recently filed Quarterly
Report on Form 10-Q, our most recently filed Annual Report on Form
10-K, and any of our subsequent filings with the Commission may not
be exhaustive.
By their nature, forward-looking statements involve risks and
uncertainties because they relate to events and depend on
circumstances that may or may not occur in the future. We caution
you that forward-looking statements are not guarantees of future
performance and that our actual results of operations, financial
condition and liquidity, and developments in the industry in which
we operate may differ materially from those made in or suggested by
the forward-looking statements contained in reports we have filed
or will file with the Commission, including our most recently filed
Annual Report on Form 10-K, our most recently filed Quarterly
Report on Form 10-Q, and any of our subsequent filings with the
Commission. In addition, even if our results of operations,
financial condition and liquidity, and developments in the industry
in which we operate are consistent with the forward-looking
statements contained in such reports, those results or developments
may not be indicative of results or developments in subsequent
periods.
Key Business Metrics
“Online Revenue” represents the sales of products and
services on our platform, net of refunds, credits, and chargebacks,
and includes revenue recognition adjustments recorded pursuant to
U.S. GAAP, primarily relating to deferred revenue and returns
reserve. Online Revenue is generated by selling directly to
consumers through our websites and mobile applications. Our Online
Revenue consists of products and services purchased by customers
directly through our online platform. The majority of our Online
Revenue is subscription-based, where customers agree to be billed
on a recurring basis to have products and services automatically
delivered to them.
“Wholesale Revenue” represents non-prescription product
sales to retailers through wholesale purchasing agreements.
Wholesale Revenue also includes non-prescription product sales to
third-party platforms through consignment arrangements. In addition
to being revenue generative and profitable, wholesale partnerships
and consignment arrangements have the added benefit of generating
brand awareness with new customers in physical environments and on
third-party platforms.
“Subscribers” are customers who have one or more
“Subscriptions” pursuant to which they have agreed to be
automatically billed on a recurring basis at a defined cadence. The
Subscription billing cadence is typically defined as a number of
days (for example, billed every 30 days or every 90 days), which
are excluded from our reporting when payment has not occurred at
the contracted billing cadence. Subscribers can cancel
Subscriptions in between billing periods to stop receiving
additional products and/or services and can reactivate
Subscriptions to continue receiving additional products and/or
services.
“Monthly Online Revenue per Average Subscriber” is
defined as Online Revenue divided by “Average Subscribers”, which
amount is then further divided by the number of months in a period.
“Average Subscribers” are calculated as the sum of the
Subscribers at the beginning and end of a given period divided by
2.
“Net Orders” are defined as the number of online customer
orders minus transactions related to refunds, credits, chargebacks,
and other negative adjustments. Net Orders represent transactions
made on our platform during a defined period of time and exclude
revenue recognition adjustments recorded pursuant to U.S. GAAP.
Average Order Value (“AOV”) is defined as Online Revenue
divided by Net Orders (each as defined above).
CONDENSED CONSOLIDATED BALANCE
SHEETS
(In Thousands, Except Share and
Per Share Data, Unaudited)
September 30, 2024
December 31, 2023
Assets
Current assets:
Cash and cash equivalents
$
165,518
$
96,663
Short-term investments
88,553
124,318
Inventory
49,110
22,464
Prepaid expenses and other current
assets
23,194
21,608
Total current assets
326,375
265,053
Restricted cash
856
856
Goodwill
112,728
110,881
Property, equipment, and software, net
52,144
36,143
Intangible assets, net
44,818
18,574
Operating lease right-of-use assets
10,884
9,588
Deferred tax assets, net
54,318
—
Other long-term assets
138
91
Total assets
$
602,261
$
441,186
Liabilities and stockholders'
equity
Current liabilities:
Accounts payable
$
75,444
$
43,070
Accrued liabilities
43,224
28,972
Deferred revenue
32,184
7,733
Earn-out payable
—
7,412
Operating lease liabilities
1,793
1,281
Total current liabilities
152,645
88,468
Operating lease liabilities
9,565
8,667
Other long-term liabilities
—
22
Total liabilities
162,210
97,157
Commitments and contingencies
Stockholders' equity:
Common stock – Class A shares, par value
$0.0001, 2,750,000,000 shares authorized and 209,438,554 and
205,104,120 shares issued and outstanding as of September 30, 2024
and December 31, 2023, respectively; Class V shares, par value
$0.0001, 10,000,000 shares authorized and 8,377,623 shares issued
and outstanding as of September 30, 2024 and December 31, 2023
22
21
Additional paid-in capital
707,962
712,307
Accumulated other comprehensive income
(loss)
229
(124
)
Accumulated deficit
(268,162
)
(368,175
)
Total stockholders' equity
440,051
344,029
Total liabilities and stockholders'
equity
$
602,261
$
441,186
CONDENSED CONSOLIDATED
STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS)
(In Thousands, Except Share and
Per Share Data, Unaudited)
Three Months Ended September
30,
Nine Months Ended September
30,
2024
2023
2024
2023
Revenue
$
401,556
$
226,699
$
995,375
$
625,381
Cost of revenue
83,670
39,391
191,781
114,490
Gross profit
317,886
187,308
803,594
510,891
Gross margin %
79
%
83
%
81
%
82
%
Operating expenses:(1)
Marketing
182,284
116,076
457,759
320,540
Operations and support
47,519
31,609
127,719
87,018
Technology and development
21,092
12,270
55,070
34,822
General and administrative
44,617
35,907
119,739
97,564
Total operating expenses
295,512
195,862
760,287
539,944
Income (loss) from operations
22,374
(8,554
)
43,307
(29,053
)
Other income (expense):
Change in fair value of liabilities
—
(588
)
—
(1,056
)
Other income, net
1,219
2,226
6,113
6,342
Total other income, net
1,219
1,638
6,113
5,286
Income (loss) before income taxes
23,593
(6,916
)
49,420
(23,767
)
Benefit (provision) for income taxes
51,995
(651
)
50,593
(1,024
)
Net income (loss)
75,588
(7,567
)
100,013
(24,791
)
Other comprehensive income
397
125
353
144
Total comprehensive income (loss)
$
75,985
$
(7,442
)
$
100,366
$
(24,647
)
Net income (loss) per share attributable
to common stockholders:
Basic
$
0.35
$
(0.04
)
$
0.47
$
(0.12
)
Diluted
$
0.32
$
(0.04
)
$
0.43
$
(0.12
)
Weighted average shares outstanding:
Basic
216,617,143
210,134,681
214,902,040
208,576,903
Diluted
235,069,539
210,134,681
233,149,762
208,576,903
______________
(1)
Includes stock-based compensation expense
as follows (in thousands):
Three Months Ended September
30,
Nine Months Ended September
30,
2024
2023
2024
2023
Marketing
$
2,458
$
1,435
$
6,755
$
3,918
Operations and support
2,605
1,887
7,462
4,895
Technology and development
3,310
1,652
8,710
5,205
General and administrative
16,526
12,303
45,046
34,271
Total stock-based compensation expense
$
24,899
$
17,277
$
67,973
$
48,289
CONDENSED CONSOLIDATED
STATEMENTS OF CASH FLOWS
(In Thousands, Unaudited)
Nine Months Ended September
30,
2024
2023
Operating activities
Net income (loss)
$
100,013
$
(24,791
)
Adjustments to reconcile net income (loss)
to net cash provided by operating activities:
Depreciation and amortization
11,027
6,857
Stock-based compensation
67,973
48,289
Change in fair value of liabilities
—
1,056
Net accretion on securities
(3,440
)
(4,034
)
Benefit for deferred taxes
(54,340
)
(30
)
Impairment of long-lived assets
114
429
Non-cash operating lease cost
1,875
1,412
Non-cash acquisition-related costs
—
2,264
Non-cash other
435
87
Changes in operating assets and
liabilities:
Inventory
(26,295
)
(430
)
Prepaid expenses and other current
assets
(1,535
)
(401
)
Other long-term assets
(47
)
(39
)
Accounts payable
35,052
4,401
Accrued liabilities
14,002
14,912
Deferred revenue
24,451
2,920
Operating lease liabilities
(1,761
)
(1,402
)
Earn-out payable
(2,825
)
—
Net cash provided by operating
activities
164,699
51,500
Investing activities
Purchases of investments
(150,595
)
(136,415
)
Maturities of investments
189,292
117,334
Proceeds from sales of investments
725
1,574
Investment in website development and
internal-use software
(8,730
)
(6,705
)
Purchases of property, equipment, and
intangible assets
(17,135
)
(8,589
)
Acquisition of business, net of cash
acquired
(15,399
)
—
Net cash used in investing activities
(1,842
)
(32,801
)
Financing activities
Proceeds from exercise of vested stock
options
18,505
1,691
Payments for taxes related to net share
settlement of equity awards
(33,096
)
(10,101
)
Repurchases of common stock
(78,034
)
—
Proceeds from employee stock purchase
plan
1,622
898
Payments for acquisition-related earn-out
consideration
(3,190
)
—
Net cash used in financing activities
(94,193
)
(7,512
)
Foreign currency effect on cash and cash
equivalents
191
37
Increase in cash, cash equivalents, and
restricted cash
68,855
11,224
Cash, cash equivalents, and restricted
cash at beginning of period
97,519
47,628
Cash, cash equivalents, and restricted
cash at end of period
$
166,374
$
58,852
Reconciliation of cash, cash
equivalents, and restricted cash
Cash and cash equivalents
$
165,518
$
57,996
Restricted cash
856
856
Total cash, cash equivalents, and
restricted cash
$
166,374
$
58,852
Supplemental disclosures of cash flow
information
Cash paid for taxes
$
3,872
$
645
Non-cash investing and financing
activities
Purchases of property and equipment
included in accounts payable and accrued liabilities
$
704
$
5,237
Right-of-use asset obtained in exchange
for lease liability
2,174
591
Issuance of common stock for
acquisition-related earn-out consideration
1,396
—
Issuance of common stock and liabilities
assumed in connection with acquisition of business
16,000
—
Non-GAAP Financial Measures
In addition to our financial results determined in accordance
with U.S. GAAP, we present Adjusted EBITDA (which is a non-GAAP
financial measure), Adjusted EBITDA margin (which is a non-GAAP
ratio), and Free Cash Flow (which is a non-GAAP financial measure)
each as defined below. We use Adjusted EBITDA, Adjusted EBITDA
margin, and Free Cash Flow to evaluate our ongoing operations and
for internal planning and forecasting purposes. We believe that
Adjusted EBITDA, Adjusted EBITDA margin, and Free Cash Flow, when
taken together with the corresponding U.S. GAAP financial measures,
provide meaningful supplemental information regarding our
performance by excluding certain items that may not be indicative
of our business, results of operations, or outlook. We consider
Adjusted EBITDA, Adjusted EBITDA margin, and Free Cash Flow to be
important measures because they help illustrate underlying trends
in our business and our historical operating performance on a more
consistent basis. We believe that the use of Adjusted EBITDA,
Adjusted EBITDA margin, and Free Cash Flow is helpful to our
investors as they are used by management in assessing the health of
our business, our operating performance, and our liquidity.
However, non-GAAP financial information is presented for
supplemental informational purposes only, has limitations as an
analytical tool, and should not be considered in isolation or as a
substitute for financial information presented in accordance with
U.S. GAAP. In addition, other companies, including companies in our
industry, may calculate similarly-titled non-GAAP financial
measures or ratios differently or may use other financial measures
or ratios to evaluate their performance, all of which could reduce
the usefulness of Adjusted EBITDA, Adjusted EBITDA margin, and Free
Cash Flow as tools for comparison. Reconciliations are provided
below to the most directly comparable financial measures stated in
accordance with U.S. GAAP. Investors are encouraged to review our
U.S. GAAP financial measures and not to rely on any single
financial measure to evaluate our business.
Adjusted EBITDA is a key performance measure that our management
uses to assess our operating performance. Because Adjusted EBITDA
facilitates internal comparisons of our historical operating
performance on a more consistent basis, we use this measure for
business planning purposes. “Adjusted EBITDA” is defined as net
income (loss) before stock-based compensation, depreciation and
amortization, acquisition and transaction-related costs (which
includes (i) consideration paid for employee compensation with
vesting requirements incurred directly as a result of acquisitions,
inclusive of revaluation of earn-out consideration recorded in
general and administrative expenses, and (ii) transaction
professional services), impairment of long-lived assets, change in
fair value of liabilities, interest income, and income taxes.
“Adjusted EBITDA margin” is defined as Adjusted EBITDA divided by
revenue.
Some of the limitations of Adjusted EBITDA include (i) Adjusted
EBITDA does not properly reflect capital commitments to be paid in
the future, and (ii) although depreciation and amortization are
non-cash charges, the underlying assets may need to be replaced and
Adjusted EBITDA does not reflect these capital expenditures. In
evaluating Adjusted EBITDA, you should be aware that in the future
we will incur expenses similar to the adjustments in this
presentation. Our presentation of Adjusted EBITDA should not be
construed as an inference that our future results will be
unaffected by these expenses or any unusual or non-recurring items.
We compensate for these limitations by providing specific
information regarding the U.S. GAAP items excluded from Adjusted
EBITDA. When evaluating our performance, you should consider
Adjusted EBITDA in addition to, and not as a substitute for, other
financial performance measures, including our net income (loss) and
other U.S. GAAP results.
Net Income (Loss) to Adjusted
EBITDA Reconciliation
(In Thousands, Unaudited)
Three Months Ended September
30,
Nine Months Ended September
30,
2024
2023
2024
2023
Revenue
$
401,556
$
226,699
$
995,375
$
625,381
Net income (loss)
75,588
(7,567
)
100,013
(24,791
)
Stock-based compensation
24,899
17,277
67,973
48,289
Depreciation and amortization
4,383
2,363
11,027
6,857
Acquisition and transaction-related
costs
858
1,280
1,824
2,509
Impairment of long-lived assets
—
—
114
429
Change in fair value of liabilities
—
588
—
1,056
Interest income
(2,637
)
(2,342
)
(7,608
)
(6,428
)
(Benefit) provision for income taxes
(51,995
)
651
(50,593
)
1,024
Adjusted EBITDA
$
51,096
$
12,250
$
122,750
$
28,945
Net income (loss) as a % of revenue
19
%
(3
)%
10
%
(4
)%
Adjusted EBITDA margin
13
%
5
%
12
%
5
%
Free Cash Flow is a key performance measure that our management
uses to assess our liquidity. Because Free Cash Flow facilitates
internal comparisons of our historical liquidity on a more
consistent basis, we use this measure for business planning
purposes. “Free Cash Flow” is defined as net cash provided by
operating activities, less purchases of property, equipment, and
intangible assets and investment in website development and
internal-use software in investing activities.
Some of the limitations of Free Cash Flow include (i) Free Cash
Flow does not represent our residual cash flow for discretionary
expenditures and our non-discretionary commitments, and (ii) Free
Cash Flow includes capital expenditures, the benefits of which may
be realized in periods subsequent to those in which the
expenditures took place. In evaluating Free Cash Flow, you should
be aware that in the future we will have cash outflows similar to
the adjustments in this presentation. Our presentation of Free Cash
Flow should not be construed as an inference that our future
results will be unaffected by these cash outflows or any unusual or
non-recurring items. When evaluating our performance, you should
consider Free Cash Flow in addition to, and not as a substitute
for, other financial performance measures, including our net cash
provided by operating activities and other U.S. GAAP results.
Net Cash Provided By Operating
Activities to Free Cash Flow Reconciliation
(In Thousands, Unaudited)
Three Months Ended September
30,
Nine Months Ended September
30,
2024
2023
2024
2023
Net cash provided by operating
activities
$
85,267
$
25,191
$
164,699
$
51,500
Less: purchases of property, equipment,
and intangible assets in investing activities
(3,342
)
(3,277
)
(17,135
)
(8,589
)
Less: investment in website development
and internal-use software in investing activities
(2,539
)
(2,643
)
(8,730
)
(6,705
)
Free Cash Flow
$
79,386
$
19,271
$
138,834
$
36,206
View source
version on businesswire.com: https://www.businesswire.com/news/home/20241104902300/en/
Investor Relations Bill Newby Investors@forhims.com
Media Relations Abby Reisinger Press@forhims.com
Hims and Hers Health (NYSE:HIMS)
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