HIMS & HERS REPORTS DOUBLE-DIGIT SUBSCRIBER AND REVENUE GROWTH
Krissy Vann | Host, All Things Fitness and Wellness
Hims & Hers Health, has released its second quarter 2025 financial results, reporting revenue of $544.8 million, a 73% increase over the same period last year. Net income rose to $42.5 million from $13.3 million in Q2 2024, while adjusted EBITDA more than doubled to $82.2 million from $39.3 million.
Subscriber growth remained a key driver, with the company ending the quarter at 2.44 million subscribers, up 31% year-over-year. Monthly online revenue per average subscriber climbed 30% to $74. Online revenue increased 75% to $536.9 million, offsetting a 10% decline in wholesale revenue to $8 million.
Gross margin came in at 76%, compared to 81% in Q2 2024. The company reported negative operating cash flow of $19.1 million, down from $53.6 million provided a year earlier. Free cash flow was negative $69.4 million, compared to $47.6 million positive in the prior-year quarter.
“Our model is helping people optimize their health and realize the benefits of precision medicine,” said Andrew Dudum, co-founder and CEO. “We believe we’re entering an exciting period of growth where we’ll enter new, high-impact specialties.”
CFO Yemi Okupe noted that both revenue and adjusted EBITDA growth were fueled by increased adoption of personalized treatment plans. “As we move into the second half of 2025, our focus is on investing in capabilities that will deepen the value customers can access on our platform,” he said. Planned investments include expanding personalization infrastructure in pharmacies, enhancing lab testing capabilities, and extending the company’s international footprint.
Hims & Hers reaffirmed its full-year 2025 guidance for revenue between $2.3 billion and $2.4 billion and adjusted EBITDA between $295 million and $335 million. For Q3 2025, the company projects revenue of $570 million to $590 million and adjusted EBITDA of $60 million to $70 million.
