Hims Hers Health Inc
For the period ended Dec 31, 2023. Filed Feb 26, 2024.
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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2023 · Filed Feb 26, 2024
HIMS$19.13-16.6%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Item 8. Consolidated Statements of Cash Flows
Consolidated Statements of Cash Flows
(In Thousands)
| Year Ended December 31, | |||
|---|---|---|---|
| 2023 | 2022 | 2021 | |
| Operating activities | |||
| Net loss | $(23,546) | $(65,678) | $(107,659) |
| Adjustments to reconcile net loss to net cash provided by (used in) operating activities: | |||
| Depreciation and amortization | 9,515 | 7,474 | 4,075 |
| Stock-based compensation | 66,080 | 42,817 | 67,211 |
| Change in fair value of liabilities | 1,075 | (70) | (3,802) |
| Warrant expense in connection with Merger | — | — | 154 |
| Amortization of debt issuance costs | — | — | 144 |
| Net (accretion) amortization on securities | (5,686) | 146 | 2,166 |
| Benefit for deferred taxes | (13) | (594) | (3,388) |
| Impairment of long-lived assets | 429 | 1,127 | — |
| Non-cash operating lease cost | 1,922 | 1,605 | 1,510 |
| Non-cash acquisition-related costs | 2,691 | 837 | 1,182 |
| Non-cash other | 195 | — | 540 |
| Changes in operating assets and liabilities: | |||
| Inventory | (902) | (8,004) | (9,628) |
| Prepaid expenses and other current assets | (6,395) | (6,335) | 3,200 |
| Other long-term assets | (58) | 17 | (58) |
| Accounts payable | 7,324 | 12,723 | 9,853 |
| Accrued liabilities | 16,524 | 909 | 197 |
| Deferred revenue | 6,261 | (1,716) | 1,412 |
| Operating lease liabilities | (1,933) | (1,605) | (1,521) |
| Earn-out payable | — | (10,184) | — |
| Net cash provided by (used in) operating activities | 73,483 | (26,531) | (34,412) |
| Investing activities | |||
| Purchases of investments | (157,239) | (187,700) | (266,633) |
| Maturities of investments | 170,051 | 194,259 | 158,375 |
| Proceeds from sales of investments | 1,574 | 35,846 | 3,465 |
| Investment in website and mobile application development and internal-use software | (9,272) | (4,533) | (4,175) |
| Purchases of property, equipment, and intangible assets | (17,220) | (2,714) | (832) |
| Deferred consideration paid for acquisitions | — | (459) | — |
| Acquisition of businesses, net of cash acquired | — | — | (46,468) |
| Net cash (used in) provided by investing activities | (12,106) | 34,699 | (156,268) |
| Financing activities | |||
| Pre-closing stock repurchase | — | — | (22,027) |
| Proceeds from issuance of common stock upon Merger | — | — | 197,686 |
| Proceeds from PIPE | — | — | 75,000 |
| Payments for transaction costs related to securities issuances | — | — | (12,851) |
| Proceeds from repayment of promissory notes associated with vested and unvested shares | — | — | 1,193 |
| Proceeds from exercise of Class A common stock warrants, net of redemption payments | — | — | 787 |
| Proceeds from exercise of vested and unvested stock options, net of repurchases and cancelations | 2,322 | 2,246 | 1,253 |
| Payments for taxes related to net share settlement of equity awards | (14,096) | (3,901) | (5,998) |
| Payments for earn-out consideration for acquisitions | — | (32,650) | — |
| Proceeds from employee stock purchase plan | 2,298 | 1,178 | — |
| Repurchases of common stock | (1,999) | — | — |
| Net cash (used in) provided by financing activities | (11,475) | (33,127) | 235,043 |
| Foreign currency effect on cash and cash equivalents | (11) | (53) | (73) |
| Increase (decrease) in cash, cash equivalents, and restricted cash | 49,891 | (25,012) | 44,290 |
| Cash, cash equivalents, and restricted cash at beginning of period | 47,628 | 72,640 | 28,350 |
| Cash, cash equivalents, and restricted cash at end of period | $97,519 | $47,628 | $72,640 |
| Reconciliation of cash, cash equivalents, and restricted cash | |||
| Cash and cash equivalents | $96,663 | $46,772 | $71,784 |
| Restricted cash | 856 | 856 | 856 |
| Total cash, cash equivalents, and restricted cash | $97,519 | $47,628 | $72,640 |
| Supplemental disclosures of cash flow information | |||
| Cash paid for taxes | $1,109 | $636 | $338 |
| Non-cash investing and financing activities | |||
| Recapitalization of redeemable convertible preferred stock from pre-closing stock repurchase | — | — | 125 |
| Conversion of redeemable convertible preferred stock to common stock | — | — | 249,837 |
| Assumption of Merger warrants liability | — | — | 51,814 |
| Redemption/exercise of Class A common stock warrants | — | — | 37,834 |
| Conversion of Series D preferred stock warrants to Class A common warrants | — | — | 1,160 |
| Purchase of property and equipment included in accounts payable | 3,383 | — | — |
| Right-of-use asset obtained in exchange for lease liability | 6,270 | 1,206 | — |
| Vesting of early exercised stock options, net of cancelations | — | 197 | 227 |
| Common stock issued, contingent consideration, and liabilities assumed in acquisition of businesses | — | — | 99,958 |
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