Hims & Hers Health Inc. (HIMS) reported impressive third-quarter 2024 results that surpassed analyst expectations, driven by strong demand for its personalized healthcare solutions, particularly in the weight-loss segment.

For the quarter ended September 30, 2024, the company's revenue soared 77% year-over-year to $401.6 million, beating the consensus estimate of $382.2 million. Hims & Hers swung to a net income of $75.6 million, including a $60.8 million tax benefit, compared to a net loss of $7.6 million in Q3 2023.

The telehealth platform's subscriber base grew 44% year-over-year, reaching 2 million subscribers. The company's average monthly online revenue per subscriber also increased substantially to $67 from $54 a year earlier. Hims & Hers' gross margin remained robust at 79%, though slightly lower than the 83% reported in Q3 2023.

Hims & Hers' weight-loss offerings, particularly its compounded versions of GLP-1 injections like semaglutide, have been a significant growth driver. The company highlighted that its personalized dosing regimens have resonated well with customers, with 90% of surveyed users expressing satisfaction and 87% progressing towards or achieving their weight-loss goals.

Buoyed by the strong performance, Hims & Hers raised its full-year 2024 revenue guidance to a range of $1.46 billion to $1.465 billion, up from the previous estimate of $1.37 billion to $1.4 billion. The company also expects adjusted EBITDA to range between $173 million and $178 million, reflecting an expected adjusted EBITDA margin of 12%.