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10-Q Filing

HIMS & HERS HEALTH, INC. CIK: 1773751 Q1 2023
Filing Information
Form Type 10-Q
Accession Number 0001773751-23-000125
Period End Date 20230331
Filing Date 20230508
Fiscal Year 2023
Fiscal Period Q1
XBRL Instance hims-20230331_htm.xml
Filing Contents
Balance Sheet 58 line items
Line Item Tag Value Unit Period
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $46.77M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $48.28M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $48.74M USD Point-in-time
Short-term investments AvailableForSaleSecuritiesDebtSecuritiesCurrent $135.65M USD Point-in-time
Short-term investments AvailableForSaleSecuritiesDebtSecuritiesCurrent $132.85M USD Point-in-time
Inventory InventoryNet $21.56M USD Point-in-time
Inventory InventoryNet $20.70M USD Point-in-time
Prepaid expenses and other current assets PrepaidExpenseAndOtherAssetsCurrent $20.43M USD Point-in-time
Prepaid expenses and other current assets PrepaidExpenseAndOtherAssetsCurrent $15.41M USD Point-in-time
Total current assets AssetsCurrent $225.53M USD Point-in-time
Total current assets AssetsCurrent $216.59M USD Point-in-time
Restricted cash RestrictedCashNoncurrent $856.00K USD Point-in-time
Restricted cash RestrictedCashNoncurrent $856.00K USD Point-in-time
Restricted cash RestrictedCashNoncurrent $856.00K USD Point-in-time
Goodwill Goodwill $110.88M USD Point-in-time
Goodwill Goodwill $110.88M USD Point-in-time
Intangibles, net IntangibleAssetsNetExcludingGoodwill $21.84M USD Point-in-time
Intangibles, net IntangibleAssetsNetExcludingGoodwill $20.91M USD Point-in-time
Operating lease right-of-use assets OperatingLeaseRightOfUseAsset $4.55M USD Point-in-time
Operating lease right-of-use assets OperatingLeaseRightOfUseAsset $4.94M USD Point-in-time
Other long-term assets OtherAssetsNoncurrent $11.23M USD Point-in-time
Other long-term assets OtherAssetsNoncurrent $13.59M USD Point-in-time
Total assets Assets $366.34M USD Point-in-time
Total assets Assets $376.31M USD Point-in-time
Accounts payable AccountsPayableCurrent $32.36M USD Point-in-time
Accounts payable AccountsPayableCurrent $37.61M USD Point-in-time
Accrued liabilities AccruedLiabilitiesCurrent $14.12M USD Point-in-time
Accrued liabilities AccruedLiabilitiesCurrent $12.45M USD Point-in-time
Deferred revenue ContractWithCustomerLiabilityCurrent $1.47M USD Point-in-time
Deferred revenue ContractWithCustomerLiabilityCurrent $2.87M USD Point-in-time
Operating lease liabilities OperatingLeaseLiabilityCurrent $1.69M USD Point-in-time
Operating lease liabilities OperatingLeaseLiabilityCurrent $1.66M USD Point-in-time
Total current liabilities LiabilitiesCurrent $56.28M USD Point-in-time
Total current liabilities LiabilitiesCurrent $47.94M USD Point-in-time
Operating lease liabilities OperatingLeaseLiabilityNoncurrent $3.65M USD Point-in-time
Operating lease liabilities OperatingLeaseLiabilityNoncurrent $3.22M USD Point-in-time
Earn-out liabilities BusinessCombinationContingentConsiderationLiabilityNoncurrent $2.98M USD Point-in-time
Earn-out liabilities BusinessCombinationContingentConsiderationLiabilityNoncurrent $3.98M USD Point-in-time
Other long-term liabilities OtherLiabilitiesNoncurrent $84.00K USD Point-in-time
Other long-term liabilities OtherLiabilitiesNoncurrent $35.00K USD Point-in-time
Total liabilities Liabilities $54.60M USD Point-in-time
Total liabilities Liabilities $63.56M USD Point-in-time
Commitments and contingencies (Note 11) CommitmentsAndContingencies - USD Point-in-time
Commitments and contingencies (Note 11) CommitmentsAndContingencies - USD Point-in-time
Common stock Class A shares, par value $0.0001, 2,750,000,000 shares authorized and 200,934,421 and 200,051,689 shares issued and outstanding as of March 31, 2023 and December 31, 2022, respectively; Class V shares, par value $0.0001, 10,000,000 shares authorized and 8,377,623 shares issued and outstanding as of March 31, 2023 and December 31, 2022 CommonStockValue $21.00K USD Point-in-time
Common stock Class A shares, par value $0.0001, 2,750,000,000 shares authorized and 200,934,421 and 200,051,689 shares issued and outstanding as of March 31, 2023 and December 31, 2022, respectively; Class V shares, par value $0.0001, 10,000,000 shares authorized and 8,377,623 shares issued and outstanding as of March 31, 2023 and December 31, 2022 CommonStockValue $21.00K USD Point-in-time
Additional paid-in capital AdditionalPaidInCapitalCommonStock $656.63M USD Point-in-time
Additional paid-in capital AdditionalPaidInCapitalCommonStock $667.53M USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-277.00K USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-111.00K USD Point-in-time
Accumulated deficit RetainedEarningsAccumulatedDeficit $-344.63M USD Point-in-time
Accumulated deficit RetainedEarningsAccumulatedDeficit $-354.70M USD Point-in-time
Total stockholders' equity StockholdersEquity $312.75M USD Point-in-time
Total stockholders' equity StockholdersEquity $334.62M USD Point-in-time
Total stockholders' equity StockholdersEquity $327.71M USD Point-in-time
Total stockholders' equity StockholdersEquity $311.74M USD Point-in-time
Total liabilities and stockholders' equity LiabilitiesAndStockholdersEquity $376.31M USD Point-in-time
Total liabilities and stockholders' equity LiabilitiesAndStockholdersEquity $366.34M USD Point-in-time
Income Statement 42 line items
Line Item Tag Value Unit Period
Revenue RevenueFromContractWithCustomerExcludingAssessedTax $101.31M USD 1 Quarter
Revenue RevenueFromContractWithCustomerExcludingAssessedTax $190.77M USD 1 Quarter
Cost of revenue CostOfRevenue $26.56M USD 1 Quarter
Cost of revenue CostOfRevenue $37.34M USD 1 Quarter
Gross profit GrossProfit $153.43M USD 1 Quarter
Gross profit GrossProfit $74.76M USD 1 Quarter
Marketing MarketingExpense $97.25M USD 1 Quarter
Marketing MarketingExpense $48.09M USD 1 Quarter
Operations and support OperationsAndSupportExpense $15.68M USD 1 Quarter
Operations and support OperationsAndSupportExpense $26.18M USD 1 Quarter
Technology and development TechnologyAndDevelopmentExpense $6.09M USD 1 Quarter
Technology and development TechnologyAndDevelopmentExpense $10.75M USD 1 Quarter
General and administrative GeneralAndAdministrativeExpense $30.51M USD 1 Quarter
General and administrative GeneralAndAdministrativeExpense $21.81M USD 1 Quarter
Total operating expenses OperatingExpenses $91.67M USD 1 Quarter
Total operating expenses OperatingExpenses $164.69M USD 1 Quarter
Loss from operations OperatingIncomeLoss $-11.26M USD 1 Quarter
Loss from operations OperatingIncomeLoss $-16.92M USD 1 Quarter
Change in fair value of liabilities FairValueAdjustmentOfLiabilities $-441.00K USD 1 Quarter
Change in fair value of liabilities FairValueAdjustmentOfLiabilities $295.00K USD 1 Quarter
Other income, net OtherNonoperatingIncomeExpense $320.00K USD 1 Quarter
Other income, net OtherNonoperatingIncomeExpense $1.88M USD 1 Quarter
Total other income, net NonoperatingIncomeExpense $761.00K USD 1 Quarter
Total other income, net NonoperatingIncomeExpense $1.58M USD 1 Quarter
Loss before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $-9.68M USD 1 Quarter
Loss before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $-16.16M USD 1 Quarter
Provision for income taxes IncomeTaxExpenseBenefit $386.00K USD 1 Quarter
Provision for income taxes IncomeTaxExpenseBenefit $94.00K USD 1 Quarter
Net loss NetIncomeLoss $-10.07M USD 1 Quarter
Net loss NetIncomeLoss $-16.25M USD 1 Quarter
Other comprehensive income (loss) OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent $166.00K USD 1 Quarter
Other comprehensive income (loss) OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent $-186.00K USD 1 Quarter
Total comprehensive loss ComprehensiveIncomeNetOfTax $-9.90M USD 1 Quarter
Total comprehensive loss ComprehensiveIncomeNetOfTax $-16.44M USD 1 Quarter
Basic (in dollars per share) EarningsPerShareBasic $-0.08 USD 1 Quarter
Basic (in dollars per share) EarningsPerShareBasic $-0.05 USD 1 Quarter
Diluted (in dollars per share) EarningsPerShareDiluted $-0.05 USD 1 Quarter
Diluted (in dollars per share) EarningsPerShareDiluted $-0.08 USD 1 Quarter
Basic (in shares) WeightedAverageNumberOfSharesOutstandingBasic 207.14M shares 1 Quarter
Basic (in shares) WeightedAverageNumberOfSharesOutstandingBasic 202.70M shares 1 Quarter
Diluted (in shares) WeightedAverageNumberOfDilutedSharesOutstanding 202.70M shares 1 Quarter
Diluted (in shares) WeightedAverageNumberOfDilutedSharesOutstanding 207.14M shares 1 Quarter
Cash Flow Statement 86 line items
Line Item Tag Value Unit Period
Net loss NetIncomeLoss $-10.07M USD 1 Quarter
Net loss NetIncomeLoss $-16.25M USD 1 Quarter
Depreciation and amortization DepreciationDepletionAndAmortization $1.74M USD 1 Quarter
Depreciation and amortization DepreciationDepletionAndAmortization $2.12M USD 1 Quarter
Stock-based compensation ShareBasedCompensation $8.86M USD 1 Quarter
Stock-based compensation ShareBasedCompensation $14.17M USD 1 Quarter
Change in fair value of liabilities LiabilitiesFairValueAdjustment $-295.00K USD 1 Quarter
Change in fair value of liabilities LiabilitiesFairValueAdjustment $441.00K USD 1 Quarter
Net (accretion) amortization on securities AccretionAmortizationOfDiscountsAndPremiumsInvestments $1.04M USD 1 Quarter
Net (accretion) amortization on securities AccretionAmortizationOfDiscountsAndPremiumsInvestments $-971.00K USD 1 Quarter
Provision (benefit) for deferred taxes DeferredIncomeTaxExpenseBenefit $-112.00K USD 1 Quarter
Provision (benefit) for deferred taxes DeferredIncomeTaxExpenseBenefit $49.00K USD 1 Quarter
Impairment of long-lived assets ImpairmentOfLongLivedAssetsExcludingGoodwill $429.00K USD 1 Quarter
Impairment of long-lived assets ImpairmentOfLongLivedAssetsExcludingGoodwill - USD 1 Quarter
Non-cash operating lease cost NoncashOperatingLeaseCosts $-448.00K USD 1 Quarter
Non-cash operating lease cost NoncashOperatingLeaseCosts $-377.00K USD 1 Quarter
Non-cash acquisition-related costs NoncashMergerRelatedCosts $69.00K USD 1 Quarter
Non-cash acquisition-related costs NoncashMergerRelatedCosts $566.00K USD 1 Quarter
Non-cash other OtherNoncashIncomeExpense $-75.00K USD 1 Quarter
Non-cash other OtherNoncashIncomeExpense $163.00K USD 1 Quarter
Inventory IncreaseDecreaseInInventories $-865.00K USD 1 Quarter
Inventory IncreaseDecreaseInInventories $-1.42M USD 1 Quarter
Prepaid expenses and other current assets IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets $7.68M USD 1 Quarter
Prepaid expenses and other current assets IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets $4.98M USD 1 Quarter
Other long-term assets IncreaseDecreaseInOtherNoncurrentAssets $-5.00K USD 1 Quarter
Other long-term assets IncreaseDecreaseInOtherNoncurrentAssets $30.00K USD 1 Quarter
Accounts payable IncreaseDecreaseInAccountsPayable $4.27M USD 1 Quarter
Accounts payable IncreaseDecreaseInAccountsPayable $3.96M USD 1 Quarter
Accrued liabilities IncreaseDecreaseInAccruedLiabilities $-3.15M USD 1 Quarter
Accrued liabilities IncreaseDecreaseInAccruedLiabilities $1.67M USD 1 Quarter
Deferred revenue IncreaseDecreaseInContractWithCustomerLiability $1.39M USD 1 Quarter
Deferred revenue IncreaseDecreaseInContractWithCustomerLiability $-2.04M USD 1 Quarter
Operating lease liabilities IncreaseDecreaseInOperatingLeaseLiability $-463.00K USD 1 Quarter
Operating lease liabilities IncreaseDecreaseInOperatingLeaseLiability $-384.00K USD 1 Quarter
Earn-out payable IncreaseDecreaseInBusinessCombinationContingentConsiderationLiabilityCurrent $-6.85M USD 1 Quarter
Earn-out payable IncreaseDecreaseInBusinessCombinationContingentConsiderationLiabilityCurrent - USD 1 Quarter
Net cash provided by (used in) operating activities NetCashProvidedByUsedInOperatingActivities $9.48M USD 1 Quarter
Net cash provided by (used in) operating activities NetCashProvidedByUsedInOperatingActivities $-19.40M USD 1 Quarter
Purchases of investments PaymentsToAcquireAvailableForSaleSecuritiesDebt $84.88M USD 1 Quarter
Purchases of investments PaymentsToAcquireAvailableForSaleSecuritiesDebt $40.69M USD 1 Quarter
Maturities of investments ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities $82.34M USD 1 Quarter
Maturities of investments ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities $39.08M USD 1 Quarter
Proceeds from sales of investments ProceedsFromSaleOfAvailableForSaleSecuritiesDebt $22.29M USD 1 Quarter
Proceeds from sales of investments ProceedsFromSaleOfAvailableForSaleSecuritiesDebt - USD 1 Quarter
Investment in website and mobile application development and internal-use software PaymentsForSoftware $1.88M USD 1 Quarter
Investment in website and mobile application development and internal-use software PaymentsForSoftware $1.20M USD 1 Quarter
Purchases of property, equipment, and intangible assets PaymentsToAcquireOtherProductiveAssets $100.00K USD 1 Quarter
Purchases of property, equipment, and intangible assets PaymentsToAcquireOtherProductiveAssets $635.00K USD 1 Quarter
Net cash (used in) provided by investing activities NetCashProvidedByUsedInInvestingActivities $18.45M USD 1 Quarter
Net cash (used in) provided by investing activities NetCashProvidedByUsedInInvestingActivities $-4.11M USD 1 Quarter
Proceeds from exercise of vested stock options ProceedsFromStockOptionsExercised $245.00K USD 1 Quarter
Proceeds from exercise of vested stock options ProceedsFromStockOptionsExercised $891.00K USD 1 Quarter
Payments for taxes related to net share settlement of equity awards PaymentsRelatedToTaxWithholdingForShareBasedCompensation $3.66M USD 1 Quarter
Payments for taxes related to net share settlement of equity awards PaymentsRelatedToTaxWithholdingForShareBasedCompensation $404.00K USD 1 Quarter
Payments for earn-out consideration for acquisitions PaymentForContingentConsiderationLiabilityFinancingActivities $23.01M USD 1 Quarter
Payments for earn-out consideration for acquisitions PaymentForContingentConsiderationLiabilityFinancingActivities - USD 1 Quarter
Net cash used in financing activities NetCashProvidedByUsedInFinancingActivities $-22.53M USD 1 Quarter
Net cash used in financing activities NetCashProvidedByUsedInFinancingActivities $-3.41M USD 1 Quarter
Foreign currency effect on cash and cash equivalents EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $15.00K USD 1 Quarter
Foreign currency effect on cash and cash equivalents EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $-23.00K USD 1 Quarter
Increase (decrease) in cash, cash equivalents, and restricted cash CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $-23.50M USD 1 Quarter
Increase (decrease) in cash, cash equivalents, and restricted cash CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $1.97M USD 1 Quarter
Cash, cash equivalents, and restricted cash at beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $49.60M USD Point-in-time
Cash, cash equivalents, and restricted cash at beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $49.14M USD Point-in-time
Cash, cash equivalents, and restricted cash at beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $47.63M USD Point-in-time
Cash, cash equivalents, and restricted cash at beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $72.64M USD Point-in-time
Cash, cash equivalents, and restricted cash at end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $49.60M USD Point-in-time
Cash, cash equivalents, and restricted cash at end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $49.14M USD Point-in-time
Cash, cash equivalents, and restricted cash at end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $47.63M USD Point-in-time
Cash, cash equivalents, and restricted cash at end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $72.64M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $46.77M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $48.28M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $48.74M USD Point-in-time
Restricted cash RestrictedCashNoncurrent $856.00K USD Point-in-time
Restricted cash RestrictedCashNoncurrent $856.00K USD Point-in-time
Restricted cash RestrictedCashNoncurrent $856.00K USD Point-in-time
Total cash, cash equivalents, and restricted cash CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $49.60M USD Point-in-time
Total cash, cash equivalents, and restricted cash CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $49.14M USD Point-in-time
Total cash, cash equivalents, and restricted cash CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $47.63M USD Point-in-time
Total cash, cash equivalents, and restricted cash CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $72.64M USD Point-in-time
Cash paid for taxes IncomeTaxesPaid $36.00K USD 1 Quarter
Cash paid for taxes IncomeTaxesPaid $286.00K USD 1 Quarter
Purchase of property and equipment included in accounts payable CapitalExpendituresIncurredButNotYetPaid $1.29M USD 1 Quarter
Purchase of property and equipment included in accounts payable CapitalExpendituresIncurredButNotYetPaid - USD 1 Quarter
Vesting of early exercised stock options VestingOfEarlyExercisedStockOptionsNetOfCancelations - USD 1 Quarter
Vesting of early exercised stock options VestingOfEarlyExercisedStockOptionsNetOfCancelations $38.00K USD 1 Quarter
Stockholders Equity 19 line items
Line Item Tag Value Unit Period
Beginning balance StockholdersEquity $312.75M USD Point-in-time
Beginning balance StockholdersEquity $334.62M USD Point-in-time
Beginning balance StockholdersEquity $327.71M USD Point-in-time
Beginning balance StockholdersEquity $311.74M USD Point-in-time
Payments for taxes related to net share settlement of equity awards ShareBasedPaymentArrangementPaymentForTaxesRelatedToNetShareSettlementOfEquityAwards $3.66M USD 1 Quarter
Payments for taxes related to net share settlement of equity awards ShareBasedPaymentArrangementPaymentForTaxesRelatedToNetShareSettlementOfEquityAwards $404.00K USD 1 Quarter
Exercise of vested stock options StockIssuedDuringPeriodValueStockOptionsExercised $245.00K USD 1 Quarter
Exercise of vested stock options StockIssuedDuringPeriodValueStockOptionsExercised $891.00K USD 1 Quarter
Vesting of early exercised stock options AdjustmentsToAdditionalPaidInCapitalEarlyExercisedOptionsVested $38.00K USD 1 Quarter
Stock-based compensation AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue $9.01M USD 1 Quarter
Stock-based compensation AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue $14.32M USD 1 Quarter
Other comprehensive income (loss) OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent $166.00K USD 1 Quarter
Other comprehensive income (loss) OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent $-186.00K USD 1 Quarter
Net loss NetIncomeLoss $-10.07M USD 1 Quarter
Net loss NetIncomeLoss $-16.25M USD 1 Quarter
Ending balance StockholdersEquity $312.75M USD Point-in-time
Ending balance StockholdersEquity $334.62M USD Point-in-time
Ending balance StockholdersEquity $327.71M USD Point-in-time
Ending balance StockholdersEquity $311.74M USD Point-in-time

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.

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