Ep 29 - HIMS Q1 2025 Earnings Recap
Description
In this episode of Hims House, Jonathan Stern and Patrick Lester break down the Q1 2025 earnings results for Hims & Hers. They highlight strong topline and bottom-line performance -- including $586M in revenue, 345% YoY net income growth, and 321% free cash flow growth. The discussion also covers softer metrics, such as a modest 137k net new subscriber additions and a conservative Q2 revenue guide. They explore the company’s reaffirmed full-year outlook and new long-term revenue goal of $6.5 billion by 2030, analyzing whether it may be a sandbagged target. Other topics include international expansion, strategic partnerships (including Novo Nordisk and conversations with Eli Lilly), and the appointment of former Amazon executive Nader Kabbani as COO.
00:00 Introduction and Q1 2025 Highlights
02:20 Patrick's Take on Earnings
05:17 The Long-Term Revenue Target
08:20 – Hims House Valuation Model Breakdown
11:14 Q2 Revenue Guidance
13:41 International Expansion
17:10 – The Five Growth Levers
27:52 Sexual Health Vertical and Core Specialties
32:00 New COO Nader Kabbani
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