Hims & Hers Health Inc - Class A
Q3 2025 Earnings
Market Reaction
S&P 500 over the same 30 days: +1.55%.
Did HIMS Beat Earnings? Q3 2025 Results
Hims & Hers Health delivered a split verdict in Q3 2025, posting revenue that topped Wall Street's expectations while earnings fell well short, a combination that nonetheless left investors focused on the company's rapid growth trajectory. Revenue came in at $598.98 million, clearing the $579.85 million consensus by 3.30% and representing a 49.2% year-over-year surge, fueled by a 21% jump in subscribers to nearly 2.5 million and a 19% lift in monthly online revenue per subscriber to $80.00. Earnings per share, however, landed at $0.06, missing the $0.10 consensus by 41.00%, as gross margin compressed roughly 500 basis points to 74%, weighed down by shorter shipping cadences in weight loss offerings and higher fulfillment costs. <a href="https://247wallst.com/investing/2025/11/03/live-hims-hers-earnings-coverage/">Following the results closely</a>, the board also authorized a $250 million share repurchase program, signaling confidence in the balance sheet. Management narrowed full-year 2025 revenue guidance to $2.33 billion to $2.35 billion, while projecting Q4 revenue of $605 million to $625 million.
- 49% YoY revenue growth driven by 21% subscriber growth and 19% increase in monthly online revenue per average subscriber
- Subscribers using personalized treatment plans increased 50% YoY
- Subscribers utilizing treatment plans targeting multiple conditions increased more than 80% YoY, now representing over 20% of total subscribers
- Marketing efficiency improved with GAAP marketing expense declining from 45% to 39% of revenue
- Subscriber growth exceeded 40% YoY excluding impact of ongoing transition within on-demand sexual health
- Adjusted EBITDA grew 53% YoY to $78.4 million
“This quarter we continued to prove that our vision of helping tens of millions of people around the world access best-in-class, personalized care, from the comfort of their own home is more real than ever. We're building a platform that gets more personal, more proactive, and resonates with more people as we scale.”
Hims & Hers CEO, on the earnings call
Forward Guidance & Outlook
For Q4 2025, the company expects revenue of $605 million to $625 million and Adjusted EBITDA of $55 million to $65 million (9%-10% margin). For full year 2025, guidance was narrowed to revenue of $2.335 billion to $2.355 billion and Adjusted EBITDA of $307 million to $317 million (13% margin). Management expressed growing conviction in achieving 2030 targets of at least $6.5 billion in revenue and $1.3 billion in Adjusted EBITDA, stating opportunities are materializing faster than expected. The Hers brand is expected to scale toward $1 billion in annual revenue in 2026. International markets represent more than $1 billion in annual revenue potential long-term.
HIMS YoY Financials
HIMS Revenue by Segment
HIMS Revenue by Geography
Figures from SEC filings and company reports. Not investment advice.