Hims & Hers Health, Inc. · NYSE:HIMS
Hims & Hers Health — Q1 2022 Earnings Presentation
21 slides from Hims & Hers Health's earnings presentation, May 9, 2022
Slide 1: First Quarter 2022 Financial Results Supplemental Presentation
First Quarter 2022 Financial Results Supplemental Presentation Hims & Hers Health, Inc. May 9, 2022
Slide 2: Disclaimer
Disclaimer This presentation includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements can be identified by the use of forward-looking terminolog
Slide 3: Revenue Growth, Patient Impact, Profitability Path
Revenue Growth Patient Impact Profitability Path $101.3M 94% increase vs prior year 710k membership subscriptions 74%gross margin +101k vs prior quarter 90%+ recurring subscription revenue 6.1M medical consultations (6%) adj. EBITDA margin1 since launch +10.4% vs prior year Brand Partnerships Tech &
Slide 4: Differentiated business model, unique strategy
differentiated business model unique strategy 4
Slide 5: The frictionless experience modern consumers expect
The frictionless experience modern consumers expect, making health and wellness more accessible than ever... Hey there, I was wondering if c talk to a Doctor about mana my an Concierge Care Welcome back, Aging and your skin Chapter 1 The support you need, when you need it ular Dave Hi there, I have
Slide 6: Digitally native, fully verticalized end-to-end experience
Brand Strong Consumer Brand Trusted Provider Network Technology ...powered by a digitally Clinically Focused EMR native, fully verticalized Personalized Platform end-to-end experience Seamless Experience Digital Prescriptions End-to-end Fulfillment 6
Slide 7: We focus on stigmatized conditions enabling long-lasting relationships
High Frequency Engagement We focus on stigmatized conditions that enable us to have deep and long-lasting customer relationships Preferred Trusted Private Digital Brand Experience 7
Slide 8: Retail, Health, and Clinical partnerships driving brand awareness
Retail, Health, and Clinical partnerships driving higher brand awareness and consumer trust Providers Retail Health & Clinical 713states + D.C. partners 7 health partners New this quarter: Including: New this quarter: 8
Slide 9: Technology platform powers care, content and shop
Our technology platform powers 24/7 care, original content and 1-click shopping, broadening value-added services for Members Care Content Shop 24/7 Concierge services Guided Programs lead by physician- 1-click purchase backed expertise Integrated health records Real-time order tracking Hundreds of o
Slide 10: Scalable operational capabilities unlock seamless experience
Strong adoption, growth and a trusted brand backed by scalable operational capabilities unlocks our seamless experience and future offerings Columbus, OH 300k sq. ft. Columbus Secure regulation standard drug OH storage cage Full automation packaging machinery Phoenix AZ Phoenix, AZ 25k sq. ft. Compo
Slide 11: Rapid uptick in adoption across our platform
We’ve seen rapid uptick in adoption across our platform 6.1M 5.2M 24.7M+ >42k Cumulative patient Quality control provider touchpoints1 chart reviews 2.8M 1.2M 6M+ 431k medical consultations since launch ’18 ’19 ’20 ’21 Q1’22 Note: All numbers as of March 2022 1. Includes cumulative follow up message
Slide 12: Significant historical revenue growth and gross margin profile
Significant historical revenue growth + gross margin profile translates to attractive gross profit generation Year-over-Year Growth % % Gross Margin —— 209% 80% 83% 29% 54% 74% 75% $272 $204 Annual revenue Annual gross profit ($ millions) ($ millions) 117 CAGR % 197% CAGR $149 $109 $83 $45 $27 $8 FY
Slide 13: Expanding customer base driving new and repeat revenue
Expanding customer base has driven both new and repeat revenue $247 609 New Revenue1 67% Repeat Customer ’19-’21 CAGR Revenue2 Subscriptions 66% ($ millions) (000s) ’19-’21 CAGR 81% ’19-’21 CAGR $141 312 $82 190 134 $27 EOY 2018 EOY 2019 EOY 2020 EOY 2021 FY 2018 FY 2019 FY 2020 FY 2021 Represents t
Slide 14: Subscription expansion driving strong revenue growth
Subscription expansion driving strong revenue growth 710 $101 609 $85 Subscriptions +82% 551 Quarterly revenue +94% (000s) Q1’22 YoY ($ millions) Q1’22 YoY $74 453 $61 391 $52 312 283 $41 $41 258 $36 218 $30 192 195 190 157 $25 $20 $22 $16 Q1’19 Q2’19 Q3’19 Q4’19 Q1’20 Q2’20 Q3’20 Q4’20 Q1’21 Q2’21
Slide 15: Efficiency gains and operating leverage driving margin improvement
Efficiency gains and operating leverage driving progressive margin improvement Q1 ’21 Q2 ’21 Q3 ’21 Q4 ’21 Q1 ’22 Line of sight to break-even adj. EBITDA1 margin % Strong cash position with no debt2 provides runway Proven ability to scale with corresponding efficiency +10.4% gains in our platform Q1
Slide 16: Underlying themes for 2022 outlook
Underlying themes for 2022 outlook 1 2 3 4 Long Term Strong Unit Category Progressive Retention Economics Expansion Margin Improvement 85%+ <1yr. online revenue retention Less than 1 year Continued scaling Improving adj. EBITDA from subscriptions payback period1 of emerging margins in H2 2022 with a
Slide 17: 2022 outlook
2022 outlook ($ millions) 2019A 2020A 2021A 2022E Q2 2022E Revenue $83 $149 $272 $410 - $425 $103 - $106 YoY % Growth 209% 80% 83% 51% - 56% 70% - 75% Adjusted EBITDA1 ($66) ($8) ($30) ($30) - ($20) ($9) - ($7) Adjusted EBITDA Margin1 (80%) (5%) (11%) (7%) - (5%) (9%) - (7%) This is a non-GAAP finan
Slide 18: Non-GAAP Financial Measures
Non-GAAP Financial Measures In addition to our financial results determined in accordance with U.S. GAAP, we present Adjusted EBITDA (which is a non-GAAP measure) and Adjusted EBITDA margin (which is a non-GAAP margin), each as defined below. We use Adjusted EBITDA and Adjusted EBITDA margin to eval
Slide 19: Reconciliation of Non-GAAP financial measures
Reconciliation of Non-GAAP financial measures ($ millions, unaudited) 2019A 2020A 2021A Revenue $82.6 $148.8 $271.9 Net Loss ($72.1) ($18.1) ($107.7) Net Loss margin % of Revenue (87%) (12%) (40%) Stock-based compensation $8.0 $5.8 $67.2 Acquisition-related costs — — $8.1 Merger bonuses — — $5.2 Dep
Slide 20: Reconciliation of Non-GAAP financial measures
Reconciliation of Non-GAAP financial measures ($ millions, unaudited) Q1 2021 Q2 2021 Q3 2021 Q4 2021 Q1 2022 Revenue $52.3 $60.7 $74.2 $84.7 $101.3 Net Loss ($51.4) ($9.2) ($15.9) ($31.2) ($16.3) Stock-based compensation $34.2 $9.2 $11.9 $12.0 $8.9 Depreciation and amortization $0.4 $0.5 $1.5 $1.6
Slide 21: First Quarter 2022 Financial Results Supplemental Presentation
First Quarter 2022 Financial Results Supplemental Presentation Hims & Hers Health, Inc. May 9, 2022