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HIMS

Hims & Hers Health, Inc.

HIMS

Hims & Hers Health, Inc. • NYSE
$39.85 ▲ 3.78% (+1.45)
Market Cap $8.74 B
52w High $72.98
52w Low $23.97
Dividend Yield 0%
P/E 75.19
Volume 9.22M
Outstanding Shares 219.27M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $598.976M ▲ $430.251M ▲ $15.774M ▼ 2.633% ▼ $0.07 ▼ $29.892M ▼
Q2-2025 $544.833M ▼ $389.473M ▲ $42.505M ▼ 7.801% ▼ $0.19 ▼ $37.188M ▼
Q1-2025 $586.01M ▲ $372.792M ▲ $49.485M ▲ 8.444% ▲ $0.22 ▲ $66.173M ▲
Q4-2024 $481.139M ▲ $350.945M ▲ $26.025M ▼ 5.409% ▼ $0.12 ▼ $24.657M ▼
Q3-2024 $401.556M $295.512M $75.588M 18.824% $0.35 $26.757M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $629.744M ▼ $2.233B ▲ $1.652B ▲ $580.982M ▲
Q2-2025 $1.145B ▲ $1.878B ▲ $1.315B ▲ $562.696M ▲
Q1-2025 $322.671M ▲ $891.711M ▲ $342.45M ▲ $549.261M ▲
Q4-2024 $300.251M ▲ $707.539M ▲ $230.823M ▲ $476.716M ▲
Q3-2024 $254.071M $602.261M $162.21M $440.051M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $15.774M ▼ $148.721M ▲ $-887.398M ▼ $-39.009M ▼ $-779.172M ▼ $91.417M ▲
Q2-2025 $42.505M ▼ $-19.117M ▼ $-21.088M ▲ $889.169M ▲ $849.991M ▲ $-69.432M ▼
Q1-2025 $49.485M ▲ $109.09M ▲ $-32.796M ▼ $-23.018M ▼ $53.519M ▼ $50.052M ▼
Q4-2024 $26.025M ▼ $86.385M ▲ $-17.206M ▼ $-13.652M ▲ $55.066M ▲ $59.5M ▼
Q3-2024 $75.588M $85.267M $-10.414M $-38.82M $36.223M $79.386M

Five-Year Company Overview

Income Statement

Income Statement Revenue has climbed very quickly over the last five years, and the business has shifted from meaningful losses to clear profitability. Gross profit has scaled well with revenue, suggesting the core unit economics of the platform have improved as the company has grown. Operating profit and net income have both moved from negative to solidly positive, which points to good cost discipline and operating leverage, especially around marketing and overhead. That said, this is still a relatively young, growth-focused company, so margins may remain somewhat volatile as it continues to invest in new categories and geographies.

Balance Sheet

Balance Sheet The balance sheet looks relatively strong for a young healthcare platform. Assets and cash have steadily increased, while debt remains very low, giving the company flexibility and a cushion against shocks. Equity has moved from negative to comfortably positive, reflecting the transition from early-stage losses to a more sustainable footing. Overall, the company appears to be funded largely through equity with minimal reliance on borrowing, which lowers financial risk but also means returns are closely tied to continued business execution rather than leverage.

Cash Flow

Cash Flow Cash generation has improved in a clear, stepwise fashion. The company has moved from burning cash to producing positive cash from operations and free cash flow, meaning the business is increasingly able to fund itself. Capital spending needs are modest, consistent with a largely digital, asset-light model. This improving cash profile gives management room to keep investing in growth, technology, and expansion without depending heavily on outside capital, though cash flows could still fluctuate if growth investments or customer acquisition spending ramp back up.

Competitive Edge

Competitive Edge Hims & Hers operates in a very crowded and fast-changing telehealth and digital health market, but it has carved out a distinct niche. Its strengths lie in a consumer-first brand, focus on sensitive and often stigmatized conditions, and a subscription model that encourages recurring, long-term relationships. Vertical integration—from online visit to medication delivery—creates a smoother experience and some switching friction for customers. However, the moat is still relatively narrow: large healthcare systems, pharmacies, and tech companies could intensify competition, and marketing remains critical to keep attracting and retaining patients.

Innovation and R&D

Innovation and R&D The company is leaning heavily into innovation to differentiate itself. Its own telehealth infrastructure, purpose-built medical record system, and AI tools such as MedMatch are designed to personalize care and improve outcomes over time. In-house compounding pharmacies allow for tailored medications, which can be hard for generic competitors to copy at scale. Strategic pushes into new areas—like mental health, dermatology, weight management, menopause, and future longevity-related treatments—show a clear pipeline of expansion. At-home diagnostics and international growth add more optionality, but they also bring regulatory, execution, and clinical validation risks that will need careful management.

Summary

Overall, Hims & Hers has evolved from an early-stage, loss-making disruptor into a growing, profitable, and cash-generative digital health platform with a solid balance sheet. Its strengths are brand, user experience, recurring subscription revenue, and a vertically integrated, tech-enabled model. The growth runway appears significant, with new treatment areas, data-driven personalization, and international expansion all offering upside. At the same time, the company operates in a highly competitive, regulated, and rapidly shifting healthcare landscape, where marketing intensity, regulatory scrutiny, and new entrants could pressure margins and growth. The story is one of a promising, scaled digital health business that has de-risked its finances but still faces meaningful strategic and execution challenges ahead.

NEWS

November 17, 2025 · 8:00 AM UTC

Hims & Hers Health, Inc. Announces $250 Million Share Repurchase Program Authorization

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November 17, 2025 · 6:00 AM UTC

Hims & Hers Names Deb Autor as Chief Policy Officer to Lead Global Policy and Regulatory Strategy

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November 13, 2025 · 12:00 PM UTC

Hims & Hers Introduces Labs, a Holistic, In-Depth Testing Experience That Puts Customers in Control of Their Health and Wellness Journeys

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November 3, 2025 · 4:05 PM UTC

Hims & Hers Health, Inc. Reports Third Quarter 2025 Financial Results

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October 29, 2025 · 2:48 PM UTC

LEVI & KORSINSKY ISSUES CORRECTION: Securities Fraud Class Action Against Hims & Hers Health, Inc.

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