Spencer Lee to Step Down as Hims & Hers Health Chief Financial Officer
Hims & Hers Health announces that CFO Spencer Lee will step down, leading a six-month transition plan while a search for a new CFO begins. Co-Founder Andrew Dudum and Board Member David Wells are overseeing this search. The company reaffirms its financial guidance for Q3 and FY 2021, following impressive growth: 80% revenue increase in 2020, with Q1 and Q2 2021 revenues up 74% and 69% year-over-year respectively. Subscriptions surged 76% to 453,000, as Hims & Hers focuses on expanding services.
- Q2 2021 revenue grew by 69%, exceeding guidance.
- Full-year revenue increased by 80% in 2020.
- Subscriptions rose by 76% year-over-year to 453,000.
- None.
Smooth six month transition plan in place;
The search for Company’s next CFO has begun; Company reaffirms Q3 and FY 2021 guidance
“It has been an honor to work at Hims & Hers, such a transformative and impactful company, during a critical period of growth,” said Lee. “Andrew and I agree that given the strong financial position of the Company and the exciting growth initiatives now kicking off, the time is right to begin the process of finding a new financial leader to guide the company in its next stage.”
“Spencer has been a valuable partner for Hims & Hers as we have achieved several significant company milestones, including our transition to a publicly traded company, two completed acquisitions and strong quarterly earnings for the last three quarters,” said Dudum. “Spencer, the leadership team and I will work closely to manage a smooth transition over the next six months as we identify a new CFO to partner in bringing our next chapter of growth and ambitious goals to life.”
This announcement follows Hims & Hers’ strong reported Q2 earnings in 2021. In 2020, full year revenue grew by
Hims & Hers today also reaffirmed its financial guidance for the third quarter and full year 2021, which it provided in connection with the announcement of the company's second quarter 2021 financial results on
Cautionary Note Regarding Forward-Looking Statements
This press release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements can be identified by the use of forward-looking terminology, including the words "believes," "estimates," "anticipates," "expects," "intends," "plans," "may," "will," "potential," "projects," "predicts," "continue," or "should," or, in each case, their negative or other variations or comparable terminology. There can be no assurance that actual results will not materially differ from expectations. Such statements include, but are not limited to, any statements relating to our financial outlook and guidance, our expected future financial and business performance, the assumptions underlying such statements, statements about events and trends including events and trends that we believe may affect our financial condition, results of operations, short- and long-term business operations and objectives, and financial needs, our expectations regarding the success of our business model, the growth of certain of our categories, our ability to expand the scope of our offerings, and our ability to timely find a suitable new Chief Financial Officer. These statements are based on management’s current expectations, but actual results may differ materially due to various factors.
The forward-looking statements contained in this press release are based on our current expectations and beliefs concerning future developments and their potential effects on us. Future developments affecting us may not be those that we have anticipated. These forward-looking statements involve a number of risks, uncertainties (some of which are beyond our control) and other assumptions that may cause actual results or performance to be materially different from those expressed or implied by these forward-looking statements. These risks and uncertainties include, but are not limited to, those factors described in the "Risk Factors" section of our most recently filed Annual Report on Form 10-K for the year ended
Should one or more of these risks or uncertainties materialize, or should any of our assumptions prove incorrect, actual results may vary in material respects from those projected in these forward-looking statements. We undertake no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws.
By their nature, forward-looking statements involve risks and uncertainties because they relate to events and depend on circumstances that may or may not occur in the future. We caution you that forward-looking statements are not guarantees of future performance and that our actual results of operations, financial condition and liquidity, and developments in the industry in which we operate may differ materially from those made in or suggested by the forward-looking statements contained in reports we have filed or will file with the Commission, including our annual report on Form 10-K for the year ended
About Hims & Hers
Hims & Hers is a multi-specialty telehealth platform that connects consumers to licensed healthcare professionals, enabling them to access high-quality medical care for numerous conditions related to primary care, mental health, sexual health, dermatology, and more. Launched in
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