Hims reports Q4 earnings beat, revenue miss
The report comes as the company has faced mounting legal troubles related to its short-lived Wegovy pill copy.
Hims & Hers reported mixed financial results and gave lukewarm full-year guidance, moves that come after a tumultuous stretch for the telehealth company.
For the last three months of 2025, Hims & Hers reported:
Earnings per share of $0.08, compared to the $0.04 analysts polled by FactSet were expecting.
Revenue of $617.8 million, compared to the $619 million analysts were penciling in.
For the full year in 2026, the company expects:
Revenue to hit between $2.7 billion and $2.9 billion, compared to the $2.74 billion analysts are currently expecting.
Adjusted EBITDA between $300 million and $375 million, compared to the $369 million Wall Street is expecting. The company said it intends to accept smaller margins in its international business in the short term as it gains market share.
The earnings report comes as the company has faced massive blowback from regulators after it rolled out a copy of Novo Nordisk’s Wegovy pill early this month. Hims is now facing a patent infringement lawsuit from Novo as well as potential charges by the Department of Justice.
CEO Andrew Dudum declined to comment on “ongoing” talks with the Food and Drug Administration and the DOJ.
“We pulled back to prioritize, honestly, just the engagement and the relationships with the ecosystem of stakeholders,” Dudum said. “We talked to quite a few of them on launch and understood their dynamics and chose to prioritize them in those conversations, so we decided to pull it.”
The stock has also taken a hit: it is down more than 50% since the start of the year, with more than 30% of that drawdown coming after Hims announced the Wegovy pill copies. The stock fell about 4% in after-hours trading following the report.
The company said its outlook assumes that it will continue to be able to sell copycat versions of Novo’s drugs. Throughout the report and call, company executives played down the impact of GLP-1s for its growth prospects.
“Today, some may think of us as a GLP-1 company,” Dudum said in an X post. “The reality is that only a small minority of our subscribers are using a compounded GLP-1 treatment.”
As its weight-loss segment sits in a precarious place, the company has focused on expanding into new treatments and geographies.
While Hims does not break out revenue by treatment segment, it did say that more than half of its revenue in 2025 came from “non-GLP-1 offerings” and described compounded GLP-1s as an “incremental growth vector.” Dudum told analysts he expects to add “performance, recovery, and sleep” in the future. He also said the company is looking into peptide therapies “right now.”
In the final quarter of 2025, Hims added hormone treatments and labs, including a cancer detection test from Grail. Hims announced last week that it would acquire Eucalyptus, an Australian digital health company, in a deal valued up to $1.15 billion.
Last year, Hims bought Zava, a UK-based peer with a presence in France, Ireland, and Germany, for $265.7 million. It also announced that it would launch in Canada this year offering generic Wegovy. The Eucalyptus acquisition puts Hims in new markets — like Australia and Japan — and gives it a wider presence in other international markets like the United Kingdom, Germany, and Australia.
The company also broke out its international revenue for the first time: in 2025 if it brought in $133.9 million from outside the US, compared to $26.8 million in 2024.
