Hims Q1 Earnings: Revenue Surges 111% to $586M, Hits 2.4M Subscribers

Rhea-AI Summary

Hims & Hers Health (NYSE: HIMS) reported exceptional Q1 2025 financial results, with revenue surging 111% year-over-year to $586.0 million. The company achieved net income of $49.5 million and Adjusted EBITDA of $91.1 million. Subscriber base grew 38% YoY to 2.4 million, with monthly online revenue per average subscriber increasing 53% to $84.

The company maintained its 2025 revenue guidance of $2.3-2.4 billion and raised Adjusted EBITDA guidance to $295-335 million. Notably, Hims & Hers introduced ambitious 2030 targets of at least $6.5 billion in revenue and $1.3 billion in Adjusted EBITDA. For Q2 2025, the company expects revenue of $530-550 million and Adjusted EBITDA of $65-75 million.

Positive

• Revenue grew 111% YoY to $586.0 million in Q1 2025
• Net income increased to $49.5 million from $11.1 million YoY
• Adjusted EBITDA grew to $91.1 million from $32.3 million YoY
• Subscriber base expanded 38% to 2.4 million
• Monthly online revenue per subscriber increased 53% to $84
• Strong cash flow with $109.1 million from operations
• Raised 2025 Adjusted EBITDA guidance

Negative

• Gross margin declined to 73% from 82% YoY
• Wholesale revenue decreased 7% YoY to $9.6 million

News Market Reaction

+18.12%

1 alert

+18.12% News Effect

On the day this news was published, HIMS gained 18.12%, reflecting a significant positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

Hims & Hers Reports Explosive 111% Revenue Growth in Q1 2025, Introduces Ambitious 2030 Targets

Digital health platform Hims & Hers Health, Inc. (NYSE: HIMS) reported substantial first-quarter growth with revenue more than doubling year-over-year, while also unveiling ambitious long-term financial targets that signal the company's confidence in its business model.

The telehealth provider generated $586.0 million in revenue for the quarter ended March 31, 2025, representing a 111% increase compared to $278.2 million in the same period last year. The company also reported net income of $49.5 million, more than quadrupling the $11.1 million reported in Q1 2024.

Subscriber Growth and Revenue Metrics

Hims & Hers reported its subscriber base grew to 2.4 million, a 38% increase compared to the first quarter of 2024. More significantly, the company has successfully increased its monetization per user, with monthly online revenue per average subscriber jumping 53% from $55 to $84 year-over-year.

The revenue breakdown revealed that online business continues to be the primary growth driver:

• Online Revenue: $576.4 million, up 115% year-over-year
• Wholesale Revenue: $9.6 million, down 7% year-over-year

While gross margin decreased to 73% from 82% in the prior-year period, the company's profitability metrics showed strong improvement. Adjusted EBITDA (earnings before interest, taxes, depreciation, and amortization) nearly tripled to $91.1 million compared to $32.3 million in Q1 2024.

Cash Flow Strengthens

The company's operating cash flow demonstrated significant improvement, with net cash provided by operating activities reaching $109.1 million for the quarter, compared to $25.8 million in the first quarter of 2024. Free Cash Flow – a non-GAAP measure that reflects cash flow from operations minus capital expenditures – increased to $50.1 million from $11.9 million in the prior-year period.

Strategic Direction and Leadership Commentary

"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," said Andrew Dudum, co-founder and CEO of Hims & Hers, in the release. Dudum emphasized the company's platform approach, noting expectations for "wider collaboration across the industry" including pharmaceutical players, diagnostic companies, and healthcare providers.

Chief Financial Officer Yemi Okupe highlighted that over 1.4 million subscribers are now utilizing personalized solutions. Okupe outlined the company's five-pronged growth strategy focused on "deepening personalization, expanding into new specialties, elevating the subscriber experience with access to high quality follow up care, forging innovative partnerships, and entering new geographies."

Outlook and Long-Term Targets

For the second quarter of 2025, Hims & Hers expects:

• Revenue between $530 million and $550 million
• Adjusted EBITDA between $65 million and $75 million (margin of 12% to 14%)

The company affirmed its full-year 2025 revenue guidance of $2.3 billion to $2.4 billion while raising its Adjusted EBITDA guidance to $295 million to $335 million, representing an Adjusted EBITDA margin of 13% to 14%.

In a significant move that demonstrates long-term confidence, Hims & Hers introduced 2030 financial targets, including:

• Revenue of at least $6.5 billion
• Adjusted EBITDA of at least $1.3 billion

These targets, if achieved, would represent more than 10x revenue growth from 2022 levels, showcasing the company's aggressive growth ambitions in the expanding telehealth sector.

About Adjusted Financial Measures

The company uses several non-GAAP financial measures in its reporting. Adjusted EBITDA excludes certain components that affect net income under U.S. generally accepted accounting principles (GAAP). Free Cash Flow represents operating cash flow minus capital expenditures. The company notes that it has not reconciled forward-looking Adjusted EBITDA to its most directly comparable GAAP measure due to the uncertainty of some components of the reconciliation.

This article is based solely on information provided in Hims & Hers Health, Inc.'s press release dated May 5, 2025. The content is for informational purposes only and does not constitute financial, investment, legal, or tax advice. Stock Titan and its writers make no representations as to the accuracy, completeness, or timeliness of the information. Investors should conduct their own due diligence before making any investment decisions.

Source: Hims & Hers Health, Inc.

FAQ

What was Hims & Hers (HIMS) revenue growth in Q1 2025?

Hims & Hers reported revenue of $586.0 million in Q1 2025, representing a 111% increase year-over-year from $278.2 million in Q1 2024.

How many subscribers does Hims & Hers (HIMS) have in 2025?

As of Q1 2025, Hims & Hers had 2.4 million subscribers, showing 38% growth from 1.7 million subscribers in Q1 2024.

What are Hims & Hers (HIMS) 2030 financial targets?

Hims & Hers targets at least $6.5 billion in revenue and $1.3 billion in Adjusted EBITDA by 2030.

What is Hims & Hers (HIMS) revenue guidance for 2025?

Hims & Hers maintains its full-year 2025 revenue guidance of $2.3 billion to $2.4 billion, with Adjusted EBITDA guidance raised to $295-335 million.

How much profit did Hims & Hers (HIMS) make in Q1 2025?

Hims & Hers reported net income of $49.5 million in Q1 2025, up from $11.1 million in Q1 2024.