Hims & Hers Health, Inc. (NYSE:HIMS) Q3 2023 Earnings Call Transcript

Jack Wallace: Just you wanted to put the quarter’s results in context. I believe in the third quarter through the of last year through the first quarter of this year, you talked about there being an unusually favorable advertising environment. And in the second quarter, it was maybe more normal. I was wondering if you could just comment on the ad spend environment, competitive — any competitive pressures there? And then how you would handicap the fourth quarter relative to kind of the prior, let’s call it, 6 quarters worth of advertising environment.

Yemi Okupe: Yes. Thanks on the question, Jack. I think that we — just a normal environment, I don’t think it’s particularly onerous or favorable. I think that much of what we saw in Q3 was consistent with the environment in Q2. I think the difference is given that we’re rolling out many strategic pricing act in the second quarter as well as also expanding the set of personalized capabilities across many lines such as been the Hers dermatology space and the Hers hair space, the investment in marketing was choppier and it was more skewed towards the back half of Q2. We don’t foresee any of those dynamics in the fourth quarter. And so I think that the spend levels will be more normalized in the fourth quarter, but we’re still very excited by the efficiency that we’re seeing over the course of — in the back half of the year.

And so I would say that our expectation is this environment will continue to be normalized from what we’ve seen in Q2 and what’s embedded in our guidance.

Operator: There are no further questions at this time. This concludes today’s conference call. You may now disconnect.