Hims & Hers Health (NYSE:HIMS) stock dropped in out-of-hours trade, falling around 8.5%, after the direct-to-consumer sexual health and weight loss retailer's subscription numbers fell short of expectatons.
The firm, which reported fourth-quarter and full-year 2025 results after market close on Monday, however, revealed revenue amounted $2.35 billion for the year, up some 59% on the prior year. At the same time, net income totalled $128 million and earnings (Adjusted EBITDA) was marked at $318 million,
Subscribers - who repeat orders for weight loss and/or ED treatments (among others) on a recurring schedule - grew to more than 2.5 million, up 13%, but that was below the level reportedly anticipated by investors.
“More than 2.5 million subscribers now rely on us for a healthcare experience that is both accessible and deeply personal – and we believe we’re well on our way to becoming the global leader in consumer health," said CEO and co-founder Andrew Dudum.
For the fourth quarter, revenue was $617.8 million and gross margin was 72%; net income was $20.6 million and Adjusted EBITDA was $66.3 million.
For the year, revenue was $2,347.6 million, gross margin was 74%, net income was $128.4 million and Adjusted EBITDA was $318.0 million. The company reported net cash provided by operating activities of $300.0 million and free cash flow of $57.4 million for the year.
Yemi Okupe, Him & Hers CFO, meanwhile, added: “Revenue grew 59% year-over-year to $2.35 billion as we expanded our subscriber base and increased engagement across specialties by bringing new sources of value to millions of customers.”
Hims & Hers provided guidance for 2026, forecasting first-quarter revenue of $600 million to $625 million and Adjusted EBITDA of $35 million to $55 million, and full-year 2026 revenue of $2.7 billion to $2.9 billion with Adjusted EBITDA of $300 million to $375 million.
It noted that its guidance excludes contributions from the recently proposed acquisition of Eucalyptus and it assumes ongoing access to compounded semaglutide.
The recap
Reported 2025 full-year revenue of approximately $2.35 billion
Subscribers grew to more than 2.5 million, up 13%
Guides 2026 revenue between $2.7 billion and $2.9 billion