Hims & Hers Health, Inc. reported significant financial growth in its latest quarterly results, with total revenue reaching $599.0 million for the three months ended September 30, 2025, a 49% increase from $401.6 million in the same period last year. For the nine months ended September 30, 2025, revenue surged to $1.73 billion, up 74% from $995.4 million in the prior year. The growth was primarily driven by a 50% increase in Online Revenue, which amounted to $589.1 million, attributed to the expansion of personalized offerings and a growing subscriber base, which reached approximately 2.5 million, a 21% increase year-over-year.
Despite the revenue growth, the company experienced a decline in net income, which fell to $15.8 million for the third quarter, down 79% from $75.6 million in the same quarter of 2024. The nine-month net income also saw a modest increase to $107.8 million, compared to $100.0 million in the previous year. The decrease in quarterly net income was largely due to increased operating expenses, which rose 46% to $430.3 million, driven by higher marketing costs and investments in technology and development.
Hims & Hers has made strategic moves to enhance its market position, including the acquisition of Zava Global GmbH, a digital health platform, for approximately $258 million. This acquisition is expected to bolster the company's operations in the United Kingdom and facilitate entry into the European Union. Additionally, the company has invested in expanding its manufacturing capabilities and enhancing its digital platform, which are anticipated to support future growth.
Operationally, the company reported a gross profit of $442.1 million for the third quarter, resulting in a gross margin of 74%, down from 79% in the prior year. The increase in cost of revenue, which rose 88% to $156.9 million, was attributed to higher product and shipping costs associated with new offerings. The company also noted a significant increase in stock-based compensation expenses, which totaled $40.2 million for the quarter, reflecting its ongoing investment in talent and resources.
Looking ahead, Hims & Hers remains optimistic about its growth trajectory, emphasizing its commitment to expanding its product offerings and enhancing customer engagement. The company plans to continue investing in marketing and operational capabilities to drive subscriber growth and revenue. With a strong liquidity position of $1.1 billion as of September 30, 2025, including cash and investments, Hims & Hers is well-positioned to support its strategic initiatives and capitalize on market opportunities.
About Hims & Hers Health, Inc.
Hims & Hers Health, Inc. operates a digital health platform providing personalized telehealth services, including virtual consultations, prescriptions, and wellness products for conditions like sexual health, dermatology, mental health, and weight management. Serving consumers in the U.S. and UK, it leverages proprietary technology, licensed provider networks, and pharmacy fulfillment to deliver accessible, affordable, and high-quality healthcare and wellness solutions through subscription-based models.
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