Hims & Hers Health reported strong Q3 2024 results, with revenue surging 77% year-over-year to $401.6 million. The company achieved a net income of $75.6 million, compared to a $7.6 million loss in Q3 2023. Gross profit rose 70% to $317.9 million, while gross margin slightly decreased to 79% from 83% last year due to newer offerings.Subscriber growth was robust, increasing 44% year-over-year to approximately 2.0 million. Monthly Online Revenue per Average Subscriber grew to $67, up from $54 in Q3 2023. The company's marketing expenses increased 57% to $182.3 million as it continued to invest in customer acquisition across various channels.Hims & Hers released a $60.8 million valuation allowance on its domestic deferred tax assets, reflecting management's confidence in future profitability. The company expects continued growth, with plans to expand into new health and wellness specialties while investing in fulfillment capabilities and product offerings to enhance customer experience.

Hims & Hers Health reported strong Q3 2024 results, with revenue surging 77% year-over-year to $401.6 million. The company achieved a net income of $75.6 million, compared to a $7.6 million loss in Q3 2023. Gross profit rose 70% to $317.9 million, while gross margin slightly decreased to 79% from 83% last year due to newer offerings.Subscriber growth was robust, increasing 44% year-over-year to approximately 2.0 million. Monthly Online Revenue per Average Subscriber grew to $67, up from $54 in Q3 2023. The company's marketing expenses increased 57% to $182.3 million as it continued to invest in customer acquisition across various channels.Hims & Hers released a $60.8 million valuation allowance on its domestic deferred tax assets, reflecting management's confidence in future profitability. The company expects continued growth, with plans to expand into new health and wellness specialties while investing in fulfillment capabilities and product offerings to enhance customer experience.