Hims & Hers Health, Inc. - HIMS STOCK NEWS

Hims & Hers Health (NYSE: HIMS) has announced a Service Appreciation Initiative offering access to compounded GLP-1 injections for weight loss at $99/month to eligible U.S. military, veterans, teachers, nurses, and first responders. This represents up to a 50% discount on these treatments. The initiative aims to increase access to safe and affordable weight loss solutions for these groups.

Based on self-reported data from approximately 12,000 customers, Hims & Hers reports that customers lost an average of 10.2 pounds on compounded GLP-1 injections and 6.3 pounds on non-GLP-1 compounded oral medication kits after about 4 weeks. The company emphasizes a holistic approach to weight management, including personalized treatment plans by licensed healthcare providers.

Hims & Hers Health (NYSE: HIMS) reported strong Q2 2024 financial results, with revenue reaching $315.6 million, up 52% year-over-year. The company achieved net income of $13.3 million and Adjusted EBITDA of $39.3 million. Subscribers grew to 1.9 million, a 43% increase year-over-year. Hims & Hers raised its full-year 2024 guidance, projecting revenue between $1.37 billion to $1.40 billion and Adjusted EBITDA between $140 million to $155 million. The company's growth strategy, focusing on affordable and personalized health solutions, continues to resonate with consumers, driving both revenue growth and profitability.

Hims & Hers Health, Inc. (NYSE: HIMS) has appointed Kåre Schultz to its Board of Directors. Schultz brings extensive experience from his leadership roles at Novo Nordisk, Teva Pharmaceutical Industries, and Lundbeck. His expertise in the healthcare and pharmaceutical industries is expected to help Hims & Hers increase access to health and wellness solutions.

CEO Andrew Dudum highlighted Schultz's valuable perspective as the company aims to combine clinical excellence, healthcare, and technology. Schultz expressed enthusiasm for Hims & Hers' potential to transform healthcare by leveraging modern tools to improve access to health solutions. He joins a diverse board that includes leaders from various industries, such as former Cleveland Clinic CEO Dr. Toby Cosgrove and former Netflix CFO David Wells.

Hims & Hers Health (NYSE: HIMS), a leading health and wellness platform, has announced its schedule for reporting second quarter 2024 financial results. The company will release its results on August 5, 2024, after market close, followed by a live conference call at 5:00 p.m. ET. Investors can access the call via phone or audio webcast.

Additionally, Hims & Hers management will participate in two upcoming investor conferences:

• Canaccord Genuity's 44th Annual Growth Conference on August 14, 2024 in Boston
• Seaport Research Partner's Annual Summer Virtual Investor Conference on August 21, 2024

The Canaccord Genuity conference will be webcast live and archived on the company's investor relations website.

Hims & Hers has introduced GLP-1 injections to its weight loss program, offering an affordable and personalized solution starting at $199 per month. This addition complements their existing oral medication kits, addressing the shortage and high costs of branded medications like Ozempic® and Wegovy®. The company has secured a partnership with a leading US manufacturer to provide these injections, helping millions manage obesity effectively. The holistic program includes medical consultations, diet, and exercise advice. Hims & Hers aims to exceed $100M in revenue by the end of 2025 with this expanded offering.

Hims & Hers Health (NYSE: HIMS) has appointed Anja Manuel to its Board of Directors. Manuel brings vast experience in government relations, foreign policy, and regulatory issues, having co-founded the consulting firm Rice, Hadley, Gates & Manuel She is expected to help Hims & Hers innovate and expand personalized healthcare access. Manuel's background includes serving on boards of Ripple Labs and Overseas Shipping Group, and roles at the U.S. State Department, WilmerHale, and Salomon Brothers. She holds degrees from Stanford and Harvard Law School.

Hims & Hers Health, Inc. reported strong financial results for Q1 2024 with revenue of $278.2 million, up 46% YoY, net income of $11.1 million, and adjusted EBITDA of $32.3 million. Subscribers grew to 1.7 million, a 41% increase YoY. The company raised its full-year 2024 guidance to $1.20 billion to $1.23 billion in revenue and $120 million to $135 million in adjusted EBITDA.