Hims & Hers spotlights increased year-over-year and 2023 Q4 revenue

Hims & Hers Health, a direct-to-consumer virtual care company, reported significant revenue growth in Q4 2023, reaching $246.6 million compared to $167.2 million in Q4 2022. The company also saw a yearly revenue increase of $872.0 million in 2023 compared to $526.9 million in 2022. Hims & Hers reported a net income for Q4 of $1.2 million, an improvement from a net loss of $10.9 million in Q4 2022. The company’s gross profit increased to 83% in Q4 2023, up from 79% in Q4 2022. Hims & Hers has a positive outlook for 2024, aiming to exceed $1 billion in revenue and achieve net income profitability. The company’s focus on personalized and accessible treatments has contributed to its success, with a 48% growth in subscribers to 1.5 million in Q4 2023. Hims & Hers completed a merger with SPAC Oaktree Acquisition in 2021 and has since seen strong stock performance.

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