Hims Hers Health Inc Second Quarter 2024 Earnings Summary
Intellectia.AI Updated: 2024-08-08
Hims & Hers Health, Inc. Second Quarter 2024 Earnings Summary
Overview: Hims & Hers Health, Inc. has reported its financial results for the quarter ending June 30, 2024. The company's financial performance showed growth across various key metrics.
Key Financial Metrics:
| Metric | Q2 2024 | Q1 2024 | Q2 2023 | Year-over-year Change | Quarter-over-quarter Change |
|---|---|---|---|---|---|
| Revenue (millions) | $315.6 | $278.2 | $207.9 | 52% | 13.5% |
Interpretation: Hims & Hers Health, Inc. saw a robust revenue growth of 52% year-over-year, increasing from $207.9 million in Q2 2023 to $315.6 million in Q2 2024. The quarter-over-quarter revenue also rose by 13.5%. However, the report did not provide specific earnings per share metrics or consensus estimates for a detailed comparison.
Revenue Performance Across Major Segments:
| Segment | Q2 2024 Revenue (millions) | Q1 2024 Revenue (millions) | Q2 2023 Revenue (millions) | Year-over-year Change | Quarter-over-quarter Change |
|---|---|---|---|---|---|
| Online Revenue | $306.8 | $267.8 | $201.2 | 53% | 14.6% |
| Wholesale Revenue | $8.8 | $8.1 | $6.7 | 31% | 8.6% |
Interpretation: The Online Revenue segment showed significant growth, accounting for most of the total revenue at $306.8 million, a 53% increase year-over-year, and a 14.6% increase quarter-over-quarter. Wholesale Revenue also saw a 31% year-over-year growth and a 8.6% quarter-over-quarter growth, although it remains a smaller part of the revenue pie.
Comments from Company's Officers:
The earnings report did not provide specific comments from the company’s officers regarding the financial performance.
Dividends or Share Repurchase Program:
During the three months ended June 30, 2024, Hims & Hers repurchased and retired 1,609,043 shares of Class A common stock for $19.9 million under its share repurchase program, utilizing the entire $50 million authorized for repurchase.
Forward Guidance:
The earnings report did not mention any forward guidance.
Stock Price Movement:
Post the earnings release, Hims & Hers Health, Inc.'s stock price saw a change of 1.48%.
In summary, Hims & Hers Health, Inc. has demonstrated strong financial health with significant growth in revenue across both its major segments. The stock price movement following the earnings release reflects a positive market response. However, the absence of specific EPS metrics and forward guidance leaves some gaps in the financial outlook.
