Q1 2024 Hims & Hers Health Inc Earnings Call Transcript
Key Points
- Record subscriber growth with 172,000 new subscribers added in Q1, bringing the total to 1.7 million.
- Revenue increased by 46% year-over-year to $278 million, demonstrating strong financial performance.
- Adjusted EBITDA of $32 million in Q1, indicating efficient operational management and profitability.
- Expansion of personalized subscription services, with personalized subscribers tripling over the last year to over 600,000.
- Continued investment in technology and infrastructure to support scalability and enhance customer experience.
- The need for substantial capital investment in affiliated pharmacies to expand capacity and capabilities, indicating significant upcoming expenditures.
- Potential fluctuations in marketing expenses as the company uses marketing as a discretionary lever, which could impact consistency in spending.
- Challenges in maintaining a high growth rate as the company scales, which could pressure resources and operational focus.
- Dependence on the continued adoption of personalized products to drive future growth and retention.
- Legal and regulatory risks associated with forward-looking statements and market uncertainties that could affect future performance.
Ladies and gentlemen, thank you for standing by. At this time, I would like to welcome everyone to the Hims & Hers First Quarter 2024 earnings conference call. Please note that this call is being recorded and all lines have been placed on mute to prevent any background noise. After the speakers' remarks, there will be a question and answer session. If you would like to ask a question, please press star followed by the number one on your telephone keypad. To withdraw your question, please press star one a second time. I would now like to turn today's call over to Bill Newby, Head of Investor Relations. Please go ahead.
Good afternoon, everyone, and welcome to the Hims & Hers Health First Quarter 2024 earnings call today after the market closed, we released this quarter's shareholder letter, a copy of which you can find on our website at investors dot Hanes.com. On the call with me today is Andrew Dudum, our Co-Founder and Chief Executive Officer, as well as Yemi Okupe, our Chief Financial Officer.
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