Filing Flows › Hims & Hers Health (HIMS) › Q4 2025
Hims & Hers Health (HIMS) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Feb 23, 2026
Hims & Hers Health (HIMS) reported revenue of $618M for the fourth quarter 2025 (Q4 2025), +28% from a year earlier and +3% from the quarter before. Operating margin was 1.5%, net earnings $20.6M (3.3% of revenue).
Hims & Hers Health, Q4 2025: revenue $618M (+28% year over year), operating margin 1.5%, net earnings $20.6M, operating cash flow $61.3M. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $618M | +3% | +28% |
| Gross profit | $444M | +0.5% | +20% |
| Operating profit | $9.2M | -22% | -51% |
| Net earnings | $20.6M | +31% | -21% |
| Operating cash flow | $61.3M | -59% | -29% |
What changed
Revenue was $617.8M in Q4 2025, up 28% year over year and up 3% from the previous quarter.
Gross margin was 71.9%, down 4.9 points from Q4 2024. Operating profit was $9.2M, a 1.5% margin (down 2.4 points year over year). Operating profit fell $9.4M even though revenue rose $136.7M versus Q4 2024, so costs grew faster than sales. Operating expenses grew 24% against revenue growth of 28%. The fastest-growing cost line was General & admin (+59%). Net earnings were $20.6M, down 21% year over year. The effective tax rate was -12.2%. Non-operating items added $9.2M, 50% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was $61.3M (down 29% year over year), 298% of net earnings. Non-cash charges added back $18.1M of depreciation and amortization and $34.5M of share-based compensation. Working capital and other items used $11.9M. Capital expenditures of $63.9M exceeded it, leaving free cash flow of −$2.6M.
Questions
What was Hims & Hers Health's revenue in the fourth quarter 2025?
Hims & Hers Health (HIMS) reported revenue of $618M for the fourth quarter 2025 (Q4 2025), +28% from a year earlier and +3% from the quarter before.
Was Hims & Hers Health profitable in the fourth quarter 2025?
Operating profit was $9.2M (1.5% of revenue) and net earnings $20.6M.
Source: Hims & Hers Health 10-K on SEC EDGAR.