HIMS & HERS HEALTH Reports Positive Second Quarter Earnings for FY 2023
August 28, 2023
☀️Earnings Overview
HIMS & HERS HEALTH ($NYSE:HIMS) reported its earnings results for the second quarter of fiscal year 2023, ending on June 30 2023, with total revenue increasing by a substantial 83.1% to USD 207.9 million. Net income also saw an improvement from the same period of the previous year, amounting to USD -7.2 million, as compared to the -19.7 million reported.
Price History
Despite the challenging market conditions posed by the ongoing global pandemic, the company was able to report strong financial performance and stock results for the quarter. The company’s stock opened at $8.3 and closed at $7.9, down by 3.1% from its previous closing price of $8.2. HIMS & HERS HEALTH’s stock performance has been relatively stable, despite the overall fluctuations in the market. The company’s strong financial performance is attributed to its innovative strategies in the healthcare technology sector, which has allowed them to provide premium services to their customers.
In addition, HIMS & HERS HEALTH isn’t just focused on its financial performance, but is also working hard to improve its customer experience. The company has implemented several customer-focused initiatives, such as custom-tailored health services and an online platform that allows customers to access their records and view various healthcare options. These initiatives have helped the company stay ahead of the competition and gain customer loyalty. The company is doing an impressive job in capitalizing on the opportunities presented by the healthcare technology sector and is well-positioned to continue its success in the long-term. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for HIMS. More…
| Total Revenues | Net Income | Net Margin |
| 710.72 | -46.97 | -6.6% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for HIMS. More…
| Operations | Investing | Financing |
| 25.57 | 1.69 | -16.91 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for HIMS. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 389.88 | 69.81 | 1.53 |
Key Ratios Snapshot
Some of the financial key ratios for HIMS are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 85.5% | – | -7.3% |
| FCF Margin | ROE | ROA |
| 1.6% | -10.3% | -8.3% |
Analysis
At GoodWhale, we specialize in analyzing the wellbeing of companies, and our analysis of HIMS & HERS HEALTH is no exception. According to our Risk Rating, HIMS & HERS HEALTH is a medium risk investment in terms of financial and business aspects. Our analysis has also detected two risk warnings in the cashflow statement, financial journal. If you want to take a deeper dive into our analysis, become a registered user and check it out. More…
Peers
Hims & Hers Health Inc is a company that provides health and beauty products. The company has a wide range of products that includes health supplements, skincare products, and makeup products. The company operates in the United States, Canada, and the United Kingdom. The company has a strong online presence and offers its products through its website and online stores. The company has a team of experts who research and develop new products. The company has a wide range of products that are popular among its customers. The company’s products are available at a reasonable price and are of high quality.
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Summary
Investors in HIMS & HERS HEALTH are encouraged by the 83.1% increase in revenue reported for the second quarter of fiscal year 2023. Despite net income being in the negative, the improved performance compared to the same quarter the previous year offers a glimmer of hope going forward. Looking ahead, investors will be keeping an eye on the company’s ability to continue to generate profit and further increase revenue. Overall, HIMS & HERS HEALTH has made good progress in the second quarter and this offers potential investors a strong signal that the company is worth a closer look.
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