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Dec 31, 2025
Hims & Hers Q4 2025 Earnings Report
Hims & Hers reported strong revenue growth with margin compression in the fourth quarter of 2025.
Key Takeaways
Hims & Hers delivered 28% year-over-year revenue growth in Q4 2025, reaching $617.82 million. Net income declined year-over-year while gross margin compressed to 72%, but Adjusted EBITDA improved, reflecting continued operating leverage.
Revenue increased 28% year-over-year to $617818000.
Gross margin declined to 72% from 77% last year.
Net income decreased to $20601000 from $26025000.
Adjusted EBITDA rose to $66326000 from $54123000.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
For Q1 2026, the company expects revenue between $600000000 and $625000000 and Adjusted EBITDA between $35000000 and $55000000.
Positive Outlook
- Q1 revenue guidance of $600000000 to $625000000.
- Q1 Adjusted EBITDA guidance of $35000000 to $55000000.
- Full year 2026 revenue guidance of $2700000000 to $2900000000.
- Full year 2026 Adjusted EBITDA guidance of $300000000 to $375000000.
- Adjusted EBITDA margin outlook of 11% to 13% for full year 2026.
Challenges Ahead
- Q1 Adjusted EBITDA margin guided at 6% to 9%, below FY margin levels.
- Guidance excludes potential acquisition contributions.
- Assumes continued access to compounded semaglutide.
- Forward-looking statements subject to regulatory risks.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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