EDGE
Get a demo
Log In

Hims

Telehealth
Segments:
Asynchronous Store and Forward Service
?
Product stage:
Growth
?

Hims & Hers (Hims) is an asynchronous telehealth platform that offers a range of virtual care services including primary care, mental health, sexual health, and dermatology care along with health and wellness products under the brands 'forhims' and 'forhers'. Patients fill out a questionnaire before being contacted by a licensed healthcare practitioner for a voice or video consultation. Prescriptions are fulfilled through third-party pharmacies working with Hims and are delivered by mail, or sent to a local pharmacy of the patients’ choice. It also operates an online store where users can purchase supplements to support hair growth, muscle recovery, sleep, and immune system boost. At the end of September 2021, the company had 551,000 subscribers across all 50 US states. Additionally, Hims’ collaborated with Walgreens to expand the market reach of its personal care offerings which will be available across more than 7,000 Walgreen stores in the US from November 2021. The company also launched a mobile app during the same month providing health and wellness content, 24/7 concierge services, access to physicians, and scheduled consultations, along with the ability to purchase its non-prescription products.

In November 2023, Hims launched MedMatch, an AI-based technology to provide personalized healthcare. The new offering utilizes machine learning to analyze data collected by the company’s platform to provide personalized and accurate healthcare recommendations for treatments and medications. At the time of launch, MedMatch was in its beta testing phase and was initially made available to patients seeking assistance with anxiety and depression.

The company announced a series of acquisitions in June 2021 including London-based personalized health platform, Honest Health, and California-based teledermatology platform Apostrophe. The acquisition of Honest Health will provide Hims with the operational capability and infrastructure to expand across the UK and Western Europe while Apostrophe will allow the company to expand its dermatology business. In July 2021, Hims began offering individual therapy to complement its existing mental health services and launched a new centralized mental health dashboard that allows individuals to track anxiety and depression scores, access session and therapist details, schedule or reschedule visits, and view details of the completed session.

Key customers and partnerships

In March 2022, the company partnered with direct primary healthcare provider , Carbon Health, as a part of its initiative to grow its provider network. The partnership will start in California, where Carbon Health is headquartered, but expand to their other locations. In November 2022, the company partnered with ChristianaCare to expand its care options in four new states, bringing the total network coverage to 10 states.

Fundings and financials

In Q2 2023, the company reported reduced net losses of USD 7.2 million, down 64% YoY. Top-line revenue amounted to USD 208 million during the quarter, an increase of 83% YoY, with growth being driven by an increase in both the number of subscriptions and net orders, which increased by 74% YoY and 52% YoY, respectively. For Q3 2023, management is expecting revenue between USD 217 million–222 million (an implied YoY increase of 50%–53%). Management also expects an adjusted EBITDA between USD 10 million–13 million, with an adjusted EBITDA margin of 5%–6%. For FY2023, management has revised its expectations upward, with expected revenue between USD 830 million–850 million (implying a YoY increase of 58%–61%) and adjusted EBITDA levels between  USD 35 million–40 million, with adjusted EBITDA margins between 4%–5%.

Key stats
Featured companies
269
Total funding (USD)
19.3 Bn
Total addressable market (USD)
51.5 Bn
Key competitors
 
Loading...
Loading...
Loading...
Loading...
Product Overview
-
Loading...
Loading...
Loading...
Loading...
-
Loading...
Loading...
Loading...
Loading...
-
Loading...
Loading...
Loading...
Loading...
-
Loading...
Loading...
Loading...
Loading...
-
Loading...
Loading...
Loading...
Loading...
Product Metrics
-
Loading...
Loading...
Loading...
Loading...
-
Loading...
Loading...
Loading...
Loading...
-
Loading...
Loading...
Loading...
Loading...
-
Loading...
Loading...
Loading...
Loading...
-
Loading...
Loading...
Loading...
Loading...
Company profile
-
Loading...
Loading...
Loading...
Loading...
-
Loading...
Loading...
Loading...
Loading...
-
Loading...
Loading...
Loading...
Loading...
-
Loading...
Loading...
Loading...
Loading...
-
Loading...
Loading...
Loading...
Loading...

EDGE Insights

Digital Health (Q4 2023): Funding flow decelerates; focus shifts back to primary care
Health & Wellness Check Up: Hims gears for growth

Recent Updates

Product updates
Nov 6, 2023
Hims & Hers launches health personalization technology
Telehealth
Earnings/results
Aug 7, 2023
Hims & Hers releases Q2 2023 results; surpasses expectations again; further revises guidance upward
Telehealth
Earnings/results
May 8, 2023
Hims & Hers releases Q1 2023 results; surpasses expectations and revises guidance upward
Telehealth
Earnings/results
Feb 27, 2023
Hims & Hers releases FY 2022 results, surpasses expectations for the year
Telehealth
Partnerships
Nov 11, 2022
Hims & Hers partners with ChristianaCare to expand care options in four states
Telehealth
Earnings/results
Nov 7, 2022
Hims & Hers out performs Q3 2022 expectations, increases its earnings guidance upward for a third time
Telehealth

Company Brief


HQ location:
2269 Chestnut St Pmb 523 San Francisco CA USA
Founded year:
2017
Employees:
251-500
Total Funding:
USD 233.2 million
Last Funding
USD 75.0 million, Jan 2021

Funding


Investors


No investor data is available

Funding data are powered by Crunchbase
arrow
menuarrow
Click here to learn more
Get a demo

By using this site, you agree to allow SPEEDA Edge and our partners to use cookies for analytics and personalization. Visit our privacy policy for more information about our data collection practices.