Hims & Hers Health Inc - Class A
Q1 2025 Earnings
Market Reaction
S&P 500 over the same 30 days: +7.22%.
Did HIMS Beat Earnings? Q1 2025 Results
Hims & Hers Health posted a mixed but largely compelling Q1 2025, with revenue more than doubling year-over-year to $586.01 million, beating the $538.44 million consensus by 8.84%, even as earnings per share of $0.20 fell short of the $0.23 estimate by 12.32%. The headline story was <a href="https://247wallst.com/investing/2025/05/05/hims-hers-hims-blows-out-earnings-expectations/">explosive growth in weight loss</a>, where oral GLP-1 subscribers surged over 300% year-over-year, lifting monthly online revenue per subscriber 53% to $84.00 and pushing the total subscriber base to nearly 2.4 million. Net income expanded to $49.48 million from $11.13 million a year ago, while Adjusted EBITDA nearly tripled to $91.06 million. The stock saw notable volatility after management guided Q2 revenue to $530 million to $550 million, reflecting a near-term headwind as the company completes its transition away from commercially available semaglutide dosages by quarter's end. Full-year 2025 revenue guidance remains $2.30 billion to $2.40 billion, with Adjusted EBITDA guidance raised to $295 million to $335 million, underscoring management's confidence in durable, long-term growth.
- 111% YoY revenue growth driven by new weight loss GLP-1 offerings and continued strength in existing specialties
- Subscriber growth to 2.4 million (38% YoY) driven by increased traffic and improved customer experiences
- Monthly online revenue per average subscriber increased 53% YoY to $84 due to GLP-1 uptake and product mix changes
- 60% of subscribers now on personalized treatments
- Over 80% personalized solution penetration in Men's and Women's Dermatology specialties
- Oral weight loss subscribers grew over 300% year-over-year
- Marketing leverage improved from 47% to 39% of revenue despite first Super Bowl commercial
- Significant operating leverage achieved across all expense categories
“We're starting 2025 with incredible momentum. Millions of people are turning to us for access to care that is personal, affordable, and has the potential to drive better outcomes.”
Hims & Hers CEO, on the earnings call
Forward Guidance & Outlook
For Q2 2025, the company expects revenue of $530 million to $550 million and Adjusted EBITDA of $65 million to $75 million (12%-14% margin). For full year 2025, revenue guidance is affirmed at $2.3 billion to $2.4 billion, and Adjusted EBITDA guidance is raised to $295 million to $335 million (13%-14% margin). The company also introduced 2030 financial targets of at least $6.5 billion in revenue and at least $1.3 billion in Adjusted EBITDA. The semaglutide subscriber transition is expected to be completed by end of Q2 2025. New specialty launches in low testosterone and menopausal support are expected by year-end 2025.
HIMS YoY Financials
HIMS Revenue by Segment
HIMS Revenue by Geography
Figures from SEC filings and company reports. Not investment advice.