Hims & Hers Health reported that its revenue for the first quarter reached $586.01 million, surpassing estimates of $538.2 million. The company also shared that its earnings were 20 cents per share, higher than the analyst predictions of 12 cents per share.
Total revenue increased by 111% compared to last year, with the number of subscribers growing to 2.4 million, which is a 38% increase year over year. The gross margin for the first quarter was 73%. Hims & Hers Health had an operating cash flow of $109.1 million and a free cash flow of $50.1 million in the quarter.
Co-founder and CEO Andrew Dudum stated, “We’re starting 2025 with incredible momentum. Millions of people are turning to us for personal and affordable care that can lead to better health results.
We’re creating a platform that puts the individual at the center of every decision, and others are noticing this. We expect greater collaboration across the industry, involving pharmaceutical companies, leaders in diagnostic and preventive testing, and top healthcare providers.”
For the second quarter, Hims & Hers Health anticipates revenue between $530 million and $550 million, below the estimates of $564.56 million. The company expects its total revenue for the year 2025 to fall between $2.3 billion and $2.4 billion, compared to estimates of $2.32 billion.
Looking ahead, Hims & Hers Health projects at least $6.5 billion in annual revenue by 2030, with adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) of at least $1.3 billion.
Hims & Hers executives will hold a conference call at 5 p.m. ET to discuss the company’s quarterly results further.
In after-hours trading on Monday, Hims & Hers Health shares were down 1.03% at $41.45, according to Benzinga Pro.