Hims & Hers Health, Inc. reported significant financial growth in its latest quarterly results, with total revenue reaching $586.0 million for the three months ended March 31, 2025, a 111% increase from $278.2 million in the same period last year. The company attributed this growth primarily to a surge in online revenue, which soared by 115% to $576.4 million, driven by the introduction of new weight loss solutions and a successful marketing campaign, including a Super Bowl advertisement. The gross profit for the quarter was $430.7 million, reflecting an 88% increase year-over-year, although the gross margin decreased to 73% from 82% due to the costs associated with new product offerings.
Operating expenses also rose significantly, totaling $372.8 million, a 70% increase compared to $219.2 million in the prior year. Marketing expenses accounted for a substantial portion of this increase, climbing to $231.2 million, primarily due to heightened customer acquisition efforts. The company reported a net income of $49.5 million, a 345% increase from $11.1 million in the previous year, resulting in a diluted net income per share of $0.20, up from $0.05.
In terms of operational metrics, Hims & Hers saw its subscriber base grow by 38% to approximately 2.4 million as of March 31, 2025, compared to 1.7 million a year earlier. The Monthly Online Revenue per Average Subscriber also increased to $84, up from $55, indicating improved customer engagement and product uptake. The company’s deferred revenue rose to $110.8 million, up from $75.3 million, reflecting the impact of new offerings and increased customer prepayments.
Strategically, Hims & Hers has made notable acquisitions, including the purchase of manufacturing assets from C S Bio Co. for approximately $39.1 million and the acquisition of lab testing services business Trybe Labs for $5.1 million. These acquisitions are aimed at enhancing the company's supply chain capabilities and expanding its service offerings. The company also entered into a $175 million revolving credit facility to support its growth initiatives. Looking ahead, Hims & Hers plans to continue investing in marketing, product development, and operational capabilities to sustain its growth trajectory, despite potential challenges from regulatory changes and market conditions.
About Hims & Hers Health, Inc.
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