Hims & Hers Health Inc - HIMS STOCK NEWS

Hims & Hers Health, Inc. (NYSE: HIMS) is set to report its first quarter 2023 financial results on May 8, 2023, after market close. A live conference call will follow at 5:00 p.m. ET, accessible by U.S. and international participants. In addition, company executives will participate in the Bank of America Merrill Lynch Global Healthcare Conference on May 10, 2023, in Las Vegas. Both events will be available via live audio webcast on the Hims & Hers investor relations website, which will archive these sessions for one year. The platform aims to revolutionize health and wellness by providing personalized care and addressing wellness challenges.

Hims & Hers Health, certified as a great workplace for 2023 by Great Place to Work®, received positive feedback from employees. The certification reflects high satisfaction levels, with 91% of staff rating the company favorably, significantly higher than the 57% at typical U.S.-based companies. CEO Andrew Dudum emphasized the importance of their mission to enhance consumer health and well-being. The recognition highlights the company's commitment to an inclusive work environment, contributing to employee satisfaction.

Hims & Hers Health, Inc. (NYSE: HIMS) has expanded its Medical Advisory Board by adding five new members specializing in obesity, menopause, and cardiometabolic health. This initiative aims to enhance access to personalized healthcare and improve clinical quality. Chief Medical Officer Dr. Pat Carroll emphasized that the new members will play a crucial role in guiding treatment protocols and ensuring adherence to clinical standards. Hims & Hers seeks to evolve its product offerings to provide efficient and high-quality care to its customers as part of its mission to enhance health and wellness.

Allermi, a telehealth service specializing in customized allergy relief, has secured $3.5 million in seed funding, led by Nelstone Ventures and FourSight Capital Partners. This funding aims to support Allermi's expansion across the U.S., enhancing marketing and product operations. Launched in July 2022 with a $1.25 million pre-seed investment, Allermi has experienced rapid growth, increasing by over 30% month-over-month. The company offers a unique nasal spray tailored to patients' specific allergy symptoms, reporting over 90% patient satisfaction. Additionally, Allermi is providing a free trial for new patients.

Hims & Hers Health, Inc. (NYSE: HIMS) has launched the Hims Dandruff Detox shampoo, designed in collaboration with doctors to combat dandruff while promoting scalp health. This vegan, cruelty-free formula is free from parabens, phthalates, sulfates, and dyes. Dandruff affects nearly 50% of the population, and this new offering addresses hair loss linked with dandruff through key ingredients like zinc pyrithione and Argan oil. The product is now available online and at retailers such as CVS and Amazon. Hims & Hers continues to expand its hair care line, which includes various men's grooming products and prescription options.

Hims & Hers Health, Inc. (NYSE: HIMS) has responded to the liquidity concerns surrounding Silicon Valley Bank (SVB), stating that it has limited cash exposure due to the ongoing situation. Most of the company's cash and short-term investments are secured with third-party custodians not associated with SVB. Furthermore, Hims & Hers confirms it has no debts or current lines of credit affected by these developments. The company continues to focus on its mission to provide personalized health and wellness solutions.

Hims & Hers Health reported revenue of $526.9 million for 2022, marking a 94% increase year-over-year. In Q4 2022, revenue reached a record $167.2 million, up 97% from Q4 2021, with an adjusted EBITDA of $3.9 million despite a net loss of $10.9 million. The company surpassed one million subscribers, an 88% growth from the previous year. For 2023, Hims & Hers projects revenue between $735 million and $755 million and aims for adjusted EBITDA of $20 million to $30 million. Looking ahead, the company targets at least $1.2 billion in revenue and $100 million in adjusted EBITDA by 2025.

Hims & Hers Health, Inc. has launched Hard Mints, a prescription chewable tablet designed for erectile dysfunction. These mint-flavored tablets utilize active ingredients found in popular medications like Cialis© and Viagra©, providing a personalized treatment option. Priced from $30 per month, Hard Mints come in various dosages, allowing for tailored healthcare solutions. The introduction of this product is part of Hims & Hers' commitment to innovating personalized health treatments, aiming to enhance patient confidence and improve access to necessary medications.