Key Takeaways
- Hims & Hers stock has gained approximately 90.4% in the three months to July 2025, significantly outperforming the S&P 500 and its peers in the digital health sector.
- Subscriber growth remains a primary driver, reaching 2.4 million in Q1 2025—a 38% year-over-year increase—underpinned by customer retention rates exceeding 85%.
- Analysts project Q2 2025 revenue to be between USD 570 million and USD 640 million, with adjusted EBITDA expected to reach between USD 72 million and USD 88 million.
- Strategic expansion into high-demand areas, particularly weight loss therapies and international markets, is central to the company’s forward-looking strategy.
- Despite a premium valuation at approximately 3.6 times forward sales, the company’s financial position is reinforced by a debt-free balance sheet and robust free cash flow.
Hims & Hers Health stands out as a resilient performer in the telehealth segment of the healthcare sector, with its stock price appreciating significantly amid broader market volatility, underscoring potential for sustained growth as it approaches its second-quarter 2025 earnings report on 4 August.
Recent Stock Performance and Market Positioning
Hims & Hers Health, listed under the ticker HIMS on the New York Stock Exchange, has exhibited notable price momentum in recent months. As of 29 July 2025, the stock closed at USD 58.68, reflecting a 1.79% increase from the prior session. This marks a continuation of a broader uptrend, with the shares gaining approximately 90.4% over the past three months, outpacing both the S&P 500 index and peers in the digital health space. Such performance contrasts with mixed results across the healthcare sector, where traditional providers have faced pressures from rising operational costs and regulatory scrutiny.
The company’s focus on direct-to-consumer telehealth services, spanning men’s and women’s health, dermatology, and weight management, has driven this ascent. Subscriber numbers reached 2.4 million by the end of the first quarter of 2025 (January to March), up 38% year-over-year, contributing to revenue of USD 586.0 million in that period—a 111% increase from the first quarter of 2024. This growth trajectory aligns with expanding demand for accessible, personalised healthcare solutions, particularly in weight loss therapies amid the ongoing popularity of GLP-1 agonists.
Commentary on social platforms has noted this relative strength, but the underlying fundamentals reveal a business model anchored in high retention rates—exceeding 85%—and a subscription-based revenue stream that provides stability. Compared to the sector average, where many telehealth firms struggle with customer churn, Hims & Hers benefits from its integrated platform, which combines telemedicine consultations with proprietary product offerings.
Earnings Outlook for Q2 2025
As Hims & Hers prepares to release its second-quarter results (April to June 2025) after market close on 4 August, analyst expectations centre on continued expansion. Consensus estimates project revenue of around USD 570 million to USD 640 million, implying year-over-year growth of 80% to 103%, building on the first quarter’s momentum. Adjusted EBITDA is anticipated to range from USD 72 million to USD 88 million, with margins potentially improving to 12.6% or higher, supported by operational efficiencies and economies of scale.
Key metrics to watch include subscriber additions, expected to push the total towards 2.6 million to 2.65 million, and contributions from newer initiatives such as weight loss programmes. In the first quarter, weight loss offerings alone generated substantial uplift, excluding compounded semaglutide products, which the company has strategically incorporated to address supply shortages in branded alternatives. Full-year 2025 guidance, reiterated in May, targets revenue between USD 2.3 billion and USD 2.4 billion, a 60% increase from 2024, alongside adjusted EBITDA of up to USD 400 million.
Historical comparisons highlight the company’s progress: in the second quarter of 2024, revenue stood at USD 315.7 million with adjusted EBITDA of USD 32.4 million. The projected figures for 2025 suggest a doubling of top-line growth, driven by international expansion plans, including entry into Canada by 2026, and acquisitions like ZAVA to bolster European presence.
Financial Metrics Comparison
| Metric | Q2 2024 (Actual) | Q1 2025 (Actual) | Q2 2025 (Estimate) |
|---|---|---|---|
| Revenue (USD million) | 315.7 | 586.0 | 570–640 |
| Adjusted EBITDA (USD million) | 32.4 | 91.1 | 72–88 |
| Subscribers (million) | 1.7 | 2.4 | 2.6–2.65 |
| Gross Margin (%) | 72 | 73 | 75 (projected) |
These estimates are derived from aggregated analyst forecasts, with some optimism stemming from the company’s track record of beating expectations—evident in the first quarter where revenue exceeded estimates by 8.8% and adjusted EPS of USD 0.20 surpassed projections by 66.7%.
Sector Trends and Competitive Landscape
Within the broader healthcare sector, telehealth has emerged as a high-growth niche, projected to expand at a compound annual growth rate of 25% through 2030, according to industry reports. Hims & Hers operates in a competitive field alongside players like Teladoc Health and Ro, but differentiates through its emphasis on personalised care and vertical integration. The sector has benefited from post-pandemic shifts towards digital solutions, though challenges such as reimbursement policies and data privacy regulations persist.
Recent sentiment from verified accounts on X indicates a positive investor outlook, with discussions emphasising Hims & Hers’ execution in weight loss and potential for global scaling. For instance, projections shared in late July 2025 highlight expectations of USD 6.5 billion in revenue by 2030, driven by user base expansion. However, this sentiment should be viewed cautiously, as it reflects community enthusiasm rather than guaranteed outcomes.
AI-based forecasts, grounded in historical patterns, suggest that if subscriber growth maintains its 38% year-over-year pace, revenue could reach USD 3.5 billion by 2026, assuming stable margins. This projection accounts for verified data trends from 2023–2025, including a 95% revenue increase in 2024, but incorporates risks such as dependency on GLP-1 drug availability.
Risks and Valuation Considerations
Despite the upbeat narrative, risks loom, including regulatory hurdles for compounded medications and competition from pharmaceutical giants like Novo Nordisk. The stock trades at approximately 3.6 times forward sales as of 29 July 2025, a premium that reflects growth expectations but could compress if earnings disappoint. Market capitalisation stands at around USD 12.5 billion, with zero debt and free cash flow of USD 50.1 million in the first quarter—up 321% year-over-year—providing a buffer.
In summary, Hims & Hers Health’s trajectory positions it favourably within the evolving healthcare landscape, with upcoming earnings likely to affirm its strategic direction.
References
AInvest. (2025, July 28). Hims & Hers: Strategic Expansion and Innovation Fuel Investor Optimism as Q2 Earnings Loom. AInvest. Retrieved July 30, 2025, from https://www.ainvest.com/news/hims-strategic-expansion-innovation-fuel-investor-optimism-q2-earnings-loom-2507/
@alc2022. (2025, February 26). Post on Hims & Hers growth. X. Retrieved July 30, 2025, from https://x.com/alc2022/status/1894484909915296213
@AndrewDudum. (2025, February 26). Post on Hims & Hers performance. X. Retrieved July 30, 2025, from https://x.com/AndrewDudum/status/1894165655886467266
Barchart. (2025). Hims & Hers Health Inc (HIMS) Stock Performance. Barchart. Retrieved July 30, 2025, from https://www.barchart.com/stocks/quotes/HIMS/performance
CNN. (2025). HIMS Hims & Hers Health, Inc. Stock Price & News. CNN Markets. Retrieved July 30, 2025, from https://www.cnn.com/markets/stocks/HIMS
@DataDInvesting. (2025, May 5). $HIMS Q1 2025 earnings analysis. X. Retrieved July 30, 2025, from https://x.com/DataDInvesting/status/1919484488863666636
MarketBeat. (2025, July 28). Hims & Hers Health (HIMS) to Release Earnings on Monday. MarketBeat. Retrieved July 30, 2025, from https://marketbeat.com/instant-alerts/hims-hers-health-hims-to-release-earnings-on-monday-2025-07-28
@mvcinvesting. (2025, May 5). $HIMS analysis. X. Retrieved July 30, 2025, from https://x.com/mvcinvesting/status/1919484258969628701
Seeking Alpha. (2025, July 28). Hims & Hers Health: What’s Wall Street Missing In This Weight-Loss Stock? Seeking Alpha. Retrieved July 30, 2025, from https://seekingalpha.com/article/4805083-hims-and-hers-health-whats-wall-street-missing-in-this-weight-loss-stock
StockAnalysis. (2025). Hims & Hers Health, Inc. (HIMS) Stock Price, Analysis & News. StockAnalysis.com. Retrieved July 30, 2025, from https://stockanalysis.com/stocks/hims/
Stockstotrade. (2025, July 23). Hims & Hers Health, Inc. (HIMS) News. StocksToTrade. Retrieved July 30, 2025, from https://stockstotrade.com/news/hims-hers-health-inc-hims-news-2025_07_23/
TradingView. (2025). HIMS Stock Price and Chart — NYSE:HIMS. TradingView. Retrieved July 30, 2025, from https://www.tradingview.com/symbols/NYSE-HIMS/
@WallStEngine. (2025, May 5). $HIMS & Hers Health Q1’25 Earnings Highlights. X. Retrieved July 30, 2025, from https://x.com/wallstengine/status/1919485286213681615
Yahoo Finance. (2025a). Hims & Hers Health, Inc. (HIMS) Stock Price, News, Quote & History. Yahoo Finance. Retrieved July 30, 2025, from https://finance.yahoo.com/quote/HIMS/
Yahoo Finance. (2025b, July 29). Hims & Hers Health, Inc. (HIMS) Gains But Lags Market: What You Should Know. Yahoo Finance. Retrieved July 30, 2025, from https://finance.yahoo.com/news/hims-hers-health-inc-hims-214503405.html
