Published on 8 Apr 2024 on Simply Wall St. via Yahoo Finance
Hims & Hers Health, Inc. (NYSE:HIMS) Is About To Turn The Corner
With the business potentially at an important milestone, we thought we'd take a closer look at Hims & Hers Health, Inc.'s (NYSE:HIMS) future prospects. Hims & Hers Health, Inc. operates a telehealth platform that connects consumers to licensed healthcare professionals in the United States, the United Kingdom, and internationally. The US$3.1b market-cap company announced a latest loss of US$24m on 31 December 2023 for its most recent financial year result. The most pressing concern for investors is Hims & Hers Health's path to profitability – when will it breakeven? We've put together a brief outline of industry analyst expectations for the company, its year of breakeven and its implied growth rate.
Check out our latest analysis for Hims & Hers Health
Hims & Hers Health is bordering on breakeven, according to the 11 American Healthcare analysts. They anticipate the company to incur a final loss in 2023, before generating positive profits of US$26m in 2024. The company is therefore projected to breakeven around 12 months from now or less. We calculated the rate at which the company must grow to meet the consensus forecasts predicting breakeven within 12 months. It turns out an average annual growth rate of 46% is expected, which is extremely buoyant. Should the business grow at a slower rate, it will become profitable at a later date than expected.