Hims & Hers Health, Inc.

Listed Company

HIMSCIK 0001773751NYSELarge AcceleratedServices-Offices & Clinics Of Doctors Of MedicineDelawareFY ends Dec 31

Period

FY 2025

Revenue

$2.35B

Net Income

$128.40M

Total Assets

$2.15B

Equity

$540.93M

Shares Out

Op. Cash Flow

$300.00M

Business

Hims & Hers Health, Inc. operates a consumer-first digital health and wellness platform that connects patients with licensed healthcare providers for telehealth consultations and ongoing clinical management. It offers prescription and over-the-counter medications, compounded and branded drugs, supplements, cosmetics, devices, digital prescriptions, cloud pharmacy fulfillment, and subscription-based treatment plans, plus educational programs and wellness content. Key business components include its proprietary technology platform, affiliated medical groups, dedicated and partner pharmacies, a compounding outsourcing facility, and recently acquired manufacturing and lab capabilities. The Company distributes products and services primarily through its websites, mobile applications, retail partnerships, and direct-to-consumer channels in the U.S. and the United Kingdom.

Summary from filing dated 2025-02-24

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Revenue	2,348	1,477	872	527	272
Cost of revenue	614	303	157	118	67
Gross profit	1,733	1,173	715	409	204
Marketing	919	679	446	273	136
Operations and support	286	186	120	77	48
Technology and development	149	79	48	29	22
General and administrative	273	168	130	98	114
Total operating expenses	1,628	1,111	744	477	320
Income (loss) from operations	106	62	−29	−69	−115
Change in fair value of equity securities	4	0	0	—	—
Change in fair value of liabilities	−9	0	−1	—	—
Other income, net	23	10	9	3	445,000
Total other income, net	18	10	8	3	4
Income (loss) before income taxes	124	72	−22	−66	−111
Benefit from (provision for) income taxes	4	54	−2	31,000	3
Net income (loss)	128	126	−24	−66	−108
Other comprehensive income (loss)	3	−200,000	153,000	−140,000	−126,000
Total comprehensive income (loss)	131	126	−23	−66	−108
Basic (in USD per share)	0.57	0.58	−0.11	−0.32	−0.58
Diluted (in USD per share)	0.51	0.53	−0.11	−0.32	−0.58
Basic (in shares)	225	216	209	205	187
Diluted (in shares)	258	237	209	205	187

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	229	221	97	47	72
Short-term available-for-sale investments	349	80	124	133	175
Inventory	80	64	22	22	14
Prepaid expenses and other current assets	110	31	22	15	9
Total current assets	768	396	265	217	270
Restricted cash	0	856,000	856,000	856,000	856,000
Long-term available-for-sale investments	351	0	—	—	—
Goodwill	278	113	111	111	111
Property, equipment, and software, net	312	82	36	11	—
Intangible assets, net	196	43	19	22	26
Operating lease right-of-use assets	137	11	10	5	5
Deferred tax assets, net	83	62	0	—	—
Other long-term assets	30	147,000	91,000	33,000	8
Total assets	2,155	708	441	366	421
Accounts payable	143	91	43	32	20
Accrued liabilities	79	53	29	12	12
Deferred revenue	127	75	8	1	3
Earn-out payable	47	0	—	—	—
Earn-out liabilities	4	0	7	0	43
Operating lease liabilities	5	2	1	2	1
Total current liabilities	404	221	88	48	79
Convertible senior notes, net	973	0	—	—	—
Operating lease liabilities	143	9	9	4	4
Earn-out liabilities	53	0	—	—	—
Deferred tax liabilities, net	29	0	—	—	—
Other long-term liabilities	12	0	22,000	35,000	629,000
Total liabilities	1,614	231	97	55	86
Commitments and contingencies (Note $14)	—	—	—	—	—
Common stock Class A shares, par value $0.0001, 2,750,000,000 shares authorized and 218,867,898 and 212,459,586 shares issued and outstanding as of December 31, 2025 and 2024, respectively; Class V shares, par value $0.0001, 10,000,000 shares authorized and 8,377,623 shares issued and outstanding as of December 31, 2025 and 2024	23,000	22,000	21,000	21,000	20,000
Additional paid-in capital	652	719	712	657	614
Accumulated other comprehensive income (loss)	2	−324,000	−124,000	−277,000	−137,000
Accumulated deficit	−114	−242	−368	−345	−279
Total stockholders' equity attributable to the Company	541	477	344	312	335
Total liabilities and stockholders' equity	2,155	708	441	366	421

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Depreciation and amortization	55	17	10	7	4
Stock-based compensation	135	92	66	43	67
Change in fair value of liabilities	9	0	1	—	—
Net accretion on securities	−2	−4	−6	146,000	2
Benefit from deferred taxes	−13	−62	−13,000	−594,000	−3
Impairment of long-lived assets	531,000	114,000	429,000	1	0
Amortization of debt discount and issuance costs	5	0	0	—	—
Non-cash operating lease cost	12	3	2	2	2
Non-cash acquisition-related costs	6	0	3	837,000	1
Non-cash other	−2	357,000	195,000	0	540,000
Inventory	−14	−42	−902,000	−8	−10
Prepaid expenses and other current assets	−52	−9	−6	−6	3
Other long-term assets	−518,000	−56,000	−58,000	17,000	−58,000
Accounts payable	30	44	7	13	10
Accrued liabilities	−43	24	17	909,000	197,000
Deferred revenue	52	68	6	−2	1
Operating lease liabilities	−2	−2	−2	−2	−2
Earn-out payable	0	−3	0	−10	0
Net cash provided by operating activities	300	251	73	−27	−34
Purchases of available-for-sale investments	−726	−161	−157	−188	−267
Maturities of available-for-sale investments	109	209	170	194	158
Proceeds from sales of available-for-sale investments	0	725,000	2	36	3
Investment in website development and internal-use software	−17	−11	−9	−5	−4
Purchases of property, equipment, and intangible assets	−226	−42	−17	−3	−832,000
Acquisition of businesses, net of cash acquired	−145	−15	0	0	−46
Purchase of equity securities	−20	0	0	—	—
Net cash used in investing activities	−1,025	−19	−12	35	−156
Proceeds from issuance of convertible senior notes, net of debt discount	970	0	0	—	—
Purchases of capped calls related to convertible senior notes	−48	0	0	—	—
Proceeds from exercise of vested stock options	11	27	2	—	—
Payments for taxes related to net share settlement of equity awards	−117	−53	−14	−4	−6
Repurchases of common stock	−90	−83	−2	0	0
Proceeds from employee stock purchase plan	6	4	2	1	0
Payments for debt issuance costs	−3	0	0	—	0
Payments for acquisition-related earn-out consideration	0	−3	0	−33	0
Proceeds from exercise of Class A common stock warrants	0	333,000	0	0	787,000
Net cash provided by (used in) financing activities	730	−108	−11	−33	235
Foreign currency effect on cash and cash equivalents	3	−270,000	−11,000	−53,000	−73,000
Increase in cash, cash equivalents, and restricted cash	7	124	50	−25	44
Cash paid for taxes	23	8	1	636,000	338,000
Purchases of property and equipment included in accounts payable and accrued liabilities	25	8	3	0	0
Right-of-use asset obtained in exchange for lease liability	133	3	6	1	0
Issuance of common stock in connection with asset acquisition	13	0	0	—	—
Common stock to be issued for asset acquisition indemnification holdback	6	0	0	—	—
Common stock issued, contingent consideration, additional consideration payable, and liabilities assumed in connection with acquisition of businesses	200	16	0	—	—
Issuance of common stock for acquisition-related earn-out consideration	0	1	0	0	—

Filings

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