$Hims & Hers Health Inc.(HIMS)$ 

Exceptional Revenue Growth:

Revenue surged by 111% year-over-year to $586.0 million.

Online revenue saw an even larger increase of 115% to $576.4 million.

Wholesale revenue experienced a slight decrease of 7% year-over-year, falling to $9.6 million.

Strong Profitability and Cash Flow:

The company achieved a net income of $49.5 million, a significant increase from $11.1 million in Q1 2024.

Adjusted EBITDA reached $91.1 million, up from $32.3 million in the same period last year.

Operating cash flow was robust at $109.1 million, with a free cash flow of $50.1 million.

Substantial Subscriber Growth and Engagement:

The subscriber base grew by 38% year-over-year to 2.4 million.

Notably, over 1.4 million subscribers are utilizing personalized solutions.

Monthly online revenue per average subscriber saw a significant jump of 53% to $84.

Revised Guidance and Ambitious Long-Term Targets:

Hims & Hers maintained its full-year 2025 revenue guidance of $2.3 billion to $2.4 billion.

The company raised its Adjusted EBITDA guidance for 2025 to a range of $295 million to $335 million, indicating improved operational efficiency expectations.

Looking further ahead, Hims & Hers introduced ambitious 2030 targets, aiming for at least $6.5 billion in revenue and $1.3 billion in Adjusted EBITDA. This represents a compound annual growth rate of approximately 22% from the midpoint of their 2025 revenue guidance.

Q2 2025 Outlook:

For the second quarter of 2025, the company expects revenue between $530 million and $550 million.

Adjusted EBITDA for Q2 2025 is projected to be in the range of $65 million to $75 million, reflecting an Adjusted EBITDA margin of 12% to 14%.

Other Key Points:

Gross margin declined year-over-year from 82% to 73%, which is something to monitor as the company scales.

The company highlighted the growth driven by personalized solutions and the increasing access to more precise and personalized care at scale.

A significant recent development was a strategic partnership with Novo Nordisk to distribute the weight-loss drug Wegovy, which has contributed to a surge in Hims & Hers' stock price. The monthly membership for Wegovy access is priced at $599.

Short interest in HIMS stock has climbed to a record level of 33.32% of the float, raising the possibility of a short squeeze.

Analysts' consensus estimates for Q1 2025 pointed to EPS of $0.23 (representing 360% year-over-year growth) and revenue of $538.44 million (up 93.5% year-over-year), which the company significantly surpassed.

Overall, the Q1 2025 earnings report indicates a period of substantial growth and increasing profitability for Hims & Hers, driven by strong subscriber engagement and the impact of new strategic initiatives like the partnership with Novo Nordisk. The raised EBITDA guidance and ambitious long-term targets suggest a positive outlook for the company.

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