Hims Hers Health (HIMS) financial statements
Hims Hers Health reported revenue of $2.3B in fiscal 2025, up 74.7% a year over 6 years.
Net income was $128M and the operating margin 4.5%, against -90.1% in 2019.
Free cash flow was $41M, and the company returned $90M in net buybacks.
The diluted share count rose 643% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from Hims Hers Health's 10-K filings with the SEC.
| Fiscal year | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|
| Revenue | $83M | $149M | $272M | $527M | $872M | $1.5B | $2.3B |
| Cost of revenue | $38M | $39M | $67M | $118M | $157M | $303M | $614M |
| Gross profit | $45M | $109M | $204M | $409M | $715M | $1.2B | $1.7B |
| Selling, general and admin | $56M | $66M | $184M | $371M | $576M | $847M | $1.2B |
| Operating income | -$74M | -$15M | -$115M | -$69M | -$29M | $62M | $106M |
| Interest expense | $369,000 | $10,000 | $0 | — | — | — | — |
| Pre-tax income | -$72M | -$18M | -$111M | -$66M | -$22M | $72M | $124M |
| Income tax | $90,000 | $127,000 | -$3M | -$31,000 | $2M | -$54M | -$4M |
| Net income | -$72M | -$18M | -$108M | -$66M | -$24M | $126M | $128M |
| EPS (diluted) | -$2.07 | -$0.51 | -$0.58 | -$0.32 | -$0.11 | $0.53 | $0.51 |
| Diluted shares | 35M | 35M | 187M | 205M | 209M | 237M | 258M |
| Gross margin | 54.0% | 73.6% | 75.2% | 77.6% | 82.0% | 79.5% | 73.8% |
| Operating margin | -90.1% | -10.2% | -42.3% | -13.0% | -3.4% | 4.2% | 4.5% |
| Net margin | -87.3% | -12.2% | -39.6% | -12.5% | -2.7% | 8.5% | 5.5% |
Balance sheet
Fiscal years, from Hims Hers Health's 10-K filings with the SEC.
| Fiscal year | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $2M | $100M | $247M | $180M | $221M | $300M | $577M |
| Receivables | — | $1M | $4M | $4M | $7M | $6M | $32M |
| Inventory | — | $4M | $14M | $22M | $22M | $64M | $80M |
| Total current assets | $2M | $113M | $270M | $217M | $265M | $396M | $768M |
| Property, plant and equipment | — | $2M | $2M | $3M | — | — | — |
| Goodwill | — | $0 | $111M | $111M | $111M | $113M | $278M |
| Total assets | $205M | $119M | $421M | $366M | $441M | $708M | $2.2B |
| Total current liabilities | $979,394 | $15M | $79M | $48M | $88M | $221M | $404M |
| Total liabilities | $8M | $16M | $86M | $55M | $97M | $231M | $1.6B |
| Shareholders' equity | -$140M | -$147M | $335M | $312M | $344M | $477M | $541M |
| Net debt | -$2M | -$27M | -$72M | -$47M | -$97M | -$221M | -$229M |
Cash flow
Fiscal years, from Hims Hers Health's 10-K filings with the SEC.
| Fiscal year | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|
| Operating cash flow | -$75M | -$2M | -$34M | -$27M | $73M | $251M | $300M |
| Capital spending | $1M | $2M | $4M | $12M | $36M | $64M | $259M |
| Free cash flow | -$76M | -$5M | -$39M | -$38M | $38M | $187M | $41M |
| Stock-based compensation | $8M | $6M | $67M | $43M | $66M | $92M | $135M |
| Share buybacks (net) | $0 | $0 | $0 | $0 | -$2M | -$83M | -$90M |
| Net borrowing | -$7M | -$2M | $0 | $0 | — | — | — |
| Free cash flow margin | -92.5% | -3.3% | -14.2% | -7.3% | 4.3% | 12.7% | 1.7% |
Questions
What was Hims Hers Health's revenue in 2025?
$2.3B in fiscal 2025, from its 10-K filing.
How much free cash flow does Hims Hers Health generate?
$41M in fiscal 2025 (operating cash flow minus capital spending).
From Hims Hers Health's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.