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Hims & Hers

Hims & Hers (HIMS) Q4 2025 Earnings

Reported Feb 23, 2026 at 4:07 PM ET · SEC Source

Q4 25 EPS

$0.08

BEAT +92.31%

Est. $0.04

Q4 25 Revenue

$617.8M

BEAT +0.09%

Est. $617.2M

vs S&P Since Q4 25

+140.3%

BEATING MARKET

HIMS +149.7% vs S&P +9.4%

Full Year 2025 Results

FY 25 EPS

$0.51

BEAT +8.46%

Est. $0.47

FY 25 Revenue

$2.35B

BEAT +0.03%

Est. $2.35B

Market Reaction

Did HIMS Beat Earnings? Q4 2025 Results

Hims & Hers Health closed out fiscal 2025 with a fourth quarter that edged past Wall Street expectations, though the headline beat arrived alongside mounting questions about the company's compounded GLP-1 runway. Revenue reached $617.82 million in Q4… Read more Hims & Hers Health closed out fiscal 2025 with a fourth quarter that edged past Wall Street expectations, though the headline beat arrived alongside mounting questions about the company's compounded GLP-1 runway. Revenue reached $617.82 million in Q4, up 28.4% year-over-year and fractionally ahead of the $617.16 million consensus, while adjusted earnings per share of $0.08 cleared the $0.05 estimate by 60.00%. The most consequential number beneath the surface was free cash flow, which swung to negative $2.57 million from positive $59.50 million a year earlier, as the company ramped capital expenditures aggressively into pharmacy automation and infrastructure. Gross margin compressed roughly 500 basis points to 72%, reflecting international scaling costs and weight-loss shipping dynamics. With regulatory scrutiny around compounded semaglutide intensifying, investors are watching whether international expansion, including the pending Eucalyptus acquisition, can sustain momentum. Management guided full-year 2026 revenue of $2.70 billion to $2.90 billion, with Adjusted EBITDA of $300 million to $375 million, assuming continued compounding access.

Key Takeaways

  • • Subscriber base grew 13% YoY to over 2.5 million
  • • Monthly revenue per average subscriber increased 11% YoY to $83
  • • Hers revenue grew more than 100% year-over-year in 2025
  • • Hims revenue grew more than 30% year-over-year in 2025
  • • Weight Loss, Men's Dermatology, Sexual Health, and Women's Dermatology each exceeded $100 million in annual revenue
  • • More than 1.6 million subscribers using personalized solutions, growing over 30% YoY
  • • Marketing leverage improved with payback periods trending to 6-7 months
  • • Over 20% of subscribers addressing multiple conditions through the platform
24/7 Wall St

HIMS YoY Financials

Q4 2025 vs Q4 2024, source: SEC Filings

24/7 Wall St

HIMS Revenue by Segment

With YoY comparisons, source: SEC Filings

Q2 22 Q1 26
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HIMS Revenue by Geography

With YoY comparisons, source: SEC Filings

Q4 25 Q1 26

“More than 2.5 million subscribers now rely on us for a healthcare experience that is both accessible and deeply personal – and we believe we're well on our way to becoming the global leader in consumer health. In 2025, we made it possible for more customers across the world to depend on us for access to care across an expanding range of conditions. From launching hormone therapies and diagnostics, introducing Labs to unlock deeper health insights, and taking meaningful steps to grow internationally, the investments we're making today position us to set a new standard in healthcare for people everywhere. The continued growth and diversification of our platform is helping to create a world where proactive, preventative, and personalized care can feel like a luxury without actually costing like one.”

— Andrew Dudum, Q4 2025 Earnings Press Release

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