2024-05-08 03:31:58 ET
Summary
- Hims & Hers reported strong Q1 FY24 earnings, with revenue and earnings growing 46% and 434% YoY respectively, as the number of subscribers opting for a personalized product grew 176%.
- The company is focused on growing its personalized solutions in existing and new categories, with a goal of $100M+ in revenue from each of the newer specialties by 2025.
- Hims & Hers is rapidly innovating its technology platform and improving profitability, with a target of 20-30% Adjusted EBITDA margins in the long term.
- Although macroeconomic uncertainty could dampen its growth prospects, I believe that HIMS stock is well positioned to drive long-term gains, making it a “buy”.
Introduction & Investment Thesis
Hims & Hers ( HIMS ) is a consumer health platform that has outperformed the S&P 500 and Nasdaq 100 YTD. The company recently reported their Q1 FY24 earnings , where revenue and earnings grew 46% and 434% YoY, respectively, beating expectations....
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Hims & Hers: The Growth Story, Coupled With Expanding Profitability, Promises Exponential Gains