HIMS FY 2025 Earnings Report — Hims & Hers Health, Inc. Revenue & Financial Results | Market Cap Arena

Hims & Hers Health, Inc.HIMS

FY 2025 Earnings

Reported February 23, 2026

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2025	Prior Q	FY 2024	QoQ Change	YoY Change
Revenue	$2.3B	—	$1.5B	—	59.0%
Op. Income	$122M	—	$62M	—	96.6%
Gross Margin	59.3%	—	79.5%	—	-20.1pp
Net Margin	5.5%	—	8.5%	—	-3.1pp
EPS (Diluted)	$0.51	—	$0.53	—	-3.8%
Free Cash Flow	$74M	—	$198M	—	-62.7%

Revenue Flow

Item	Amount
REVENUE	$2.3B
Cost of Revenue	$955M
GROSS PROFIT	$1.4B
R&D Expenses	$149M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$1.1B
Other Expenses	$0
Operating Expenses	$1.3B
Cost & Expenses	$2.2B
OPERATING INCOME	$122M
Interest Income	$0
Interest Expense	$0
Other Income/Expenses	$2M
INCOME BEFORE TAX	$124M
Income Tax Expense	-$4M
Net Income from Continuing Ops	$128M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$128M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$128M
D&A	$55M
EBIT	$124M
EBITDA	$178M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$2.3B
Cost of Revenue	$955M
GROSS PROFIT	$1.4B
R&D Expenses	$149M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$1.1B
Other Expenses	$0
Operating Expenses	$1.3B
Cost & Expenses	$2.2B
OPERATING INCOME	$122M
Interest Income	$0
Interest Expense	$0
Other Income/Expenses	$2M
INCOME BEFORE TAX	$124M
Income Tax Expense	-$4M
Net Income from Continuing Ops	$128M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$128M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$128M
D&A	$55M
EBIT	$124M
EBITDA	$178M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$128M
Depreciation & Amortization	$55M
Stock-Based Compensation	$135M
Deferred Income Tax	-$13M
Other Non-Cash Items	$24M
Change in Working Capital	-$29M
OPERATING CASH FLOW	$300M
Capital Expenditure	-$226M
Acquisitions (Net)	-$145M
Purchases of Investments	-$746M
Sales/Maturities of Investments	$109M
Other Investing Activities	-$17M
NET CASH FROM INVESTING	-$1.0B
Net Debt Issuance	$919M
Common Stock Repurchased	-$90M
Common Dividends Paid	$0
Other Financing Activities	-$117M
NET CASH FROM FINANCING	$730M
FREE CASH FLOW	$74M
Net Change in Cash	$8M

Balance Sheet

Item	Amount
Cash & Equivalents	$229M
Short-Term Investments	$349M
Net Receivables	$32M
Inventory	$116M
Other Current Assets	$4M
TOTAL CURRENT ASSETS	$768M
PP&E (Net)	$449M
Goodwill	$278M
Intangible Assets	$196M
Long-Term Investments	$351M
Tax Assets	$83M
Other Non-Current Assets	$30M
TOTAL NON-CURRENT ASSETS	$1.4B
TOTAL ASSETS	$2.2B
Account Payables	$143M
Short-Term Debt	$5M
Deferred Revenue	$127M
Other Current Liabilities	$103M
TOTAL CURRENT LIABILITIES	$404M
Long-Term Debt	$1.1B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$29M
Other Non-Current Liabilities	-$78M
TOTAL NON-CURRENT LIABILITIES	$1.2B
TOTAL LIABILITIES	$1.6B
Common Stock	$23.0K
Additional Paid-In Capital	$652M
Retained Earnings	-$114M
Treasury Stock	$0
Accum. Other Comp. Income	$2M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$541M
Minority Interest	$0
TOTAL EQUITY	$541M
TOTAL LIABILITIES & EQUITY	$2.2B
Total Debt	$1.3B
Net Debt	$1.0B