Hims & Hers Health, Inc. (NYSE:HIMS) Q3 2023 Earnings Conference Call November 6, 2023 5:00 PM ET

Company Participants

Alice Lopatto - VP, IR

Andrew Dudum - Co-Founder, Chairman & CEO

Yemi Okupe - CFO

Conference Call Participants

Glen Santangelo - Jefferies

Daniel Grosslight - Citigroup

Jack Wallace - Guggenheim Securities

Jailendra Singh - Truist Securities

Allen Lutz - Bank of America Merrill Lynch

George Hill - Deutsche Bank

Operator

Ladies and gentlemen, thank you for standing by. At this time, I would like to welcome everyone to the Hims & Hers Third Quarter 2023 Earnings Conference Call. Please note that this call is being recorded. [Operator Instructions]. I would now like to turn today's call over to Alice Lopatto, Vice President of Investor Relations. Please go ahead.

Alice Lopatto

Good afternoon, everyone, and welcome to the Hims & Hers Health Third Quarter 2023 Earnings Call. 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.

Before I hand it over to Andrew, I need to remind you of legal safe harbor and cautionary declarations. Certain statements and projections of future results made in this presentation constitute forward-looking statements that are based on, among other things, our current market, competitors and regulatory expectations and are subject to risks and uncertainties and that could cause actual results to vary materially. We take no obligation to update publicly any forward-looking statement after this call, whether as a result of new information, future events changes in assumptions or otherwise.

Please see our most recently filed 10-K and 10-Q reports for a discussion of risk factors as they relate to forward-looking statements. In today's presentation, we have certain non-GAAP financial measures. We refer you to the reconciliation table contained in today's press release available on our Investor Relations website for reconciliations to the most directly comparable GAAP financial measures and related information. You'll find a link to the webcast and Investor Relations website at investors.hims.com. After the call, this webcast will be archived on the website for 12 months.

And with that, I'll now turn the call over to Andrew.

Andrew Dudum

Thank you, Alice. At Hims & Hers, our mission is to make the world feel great to the power of better health. This quarter, we delivered on this mission across the board. Execution in the third quarter was exceptional. Our unique offering of personalized solutions at compelling price points resulted in increased market share across categories, such as sexual health care for both men and women and mental health. Our mental health offering surpassed 125,000 subscribers in the third quarter, while maintaining triple-digit growth. Our execution translated into outstanding financial performance in the third quarter. Revenue was up 57% year-over-year in the third quarter to $226.7 million. And our brand and expanding offering of personalized solutions continue to resonate with more and more consumers, enabling us to surpass 1.4 million subscribers.