Hims & Hers has reported its financial results for Q4 and full-year 2021, indicating that revenue exceeded expectations, with full-year revenue growing 83% year-over-year (YOY), rising from $148.8 million in 2020 to $271.9 million in 2021. The company reports Q4 revenue increased 104% year-over-year, rising from $41.5 million in Q4 2020 to $84.7 million in Q4 2021.
Related: Beiersdorf Full-year 2021 Results
Hims & Hers’ Q4 2021 net loss was $31.2 million, its gross margin was 73% and the adjusted EBITDA was $7.1 million. This compares to a Q4 2020 net loss of $5.2 million, a gross margin of 77% and an adjusted EBITDA of $3.1 million.
Hims & Hers’ full-year net loss was $107.7 million, its gross margin was 75% and the adjusted EBITDA was $30.1 million. In 2020, the company’s net loss was $18.1 million, its gross margin was 74% and the adjusted EBITDA was $8.1 million.
The report claims an expected Q1 2021 revenue to be between $90 and $93 million with an adjusted EBITDA in the $10 to $12 million range. For the full year in 2022, the company expects revenue in the range of $365 to $380 million with an adjusted EBITDA in the $30 to $20 million range.
Andrew Dudum, CEO and co-founder of Hims & Hers, said, “We finished our first year as a public company with our best quarter yet, once again surpassing revenue and Adjusted EBITDA expectations that we set entering the year while maintaining an efficient capital allocation philosophy. We believe these results showcase that our mission to offer high quality, convenient, and affordable care through a more modern, personalized platform is being adopted today as more patients than ever, across multiple age and demographic groups, are engaging with Hims & Hers in their health and wellness journey via multiple channels. I would like to thank the tireless effort made by the amazing Hims & Hers team. Without them, the astonishing progress that we made this year, paving the way for long-term sustainable success, would not have been possible.”