What is Hims & Hers Health's operating income?

Hims & Hers Health's total operating income in 2025 was $105.61 million, based on the following breakdown: Total Gross Profit: $1.73 billion Total Operating Expenses: $1.63 billion

Hims & Hers Health (HIMS) Financials

$27.42 -1.19 (-4.14%)

Closing price 08/18/2026 03:59 PM Eastern

Extended Trading

$27.15 -0.28 (-1.00%)

As of 08:18 AM Eastern

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Annual Income Statements for Hims & Hers Health

This table shows Hims & Hers Health's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Income / (Loss) Attributable to Common Shareholders	-72	-18	-108	-66	-24	126	128
Consolidated Net Income / (Loss)	-72	-18	-108	-66	-24	126	128
Net Income / (Loss) Continuing Operations	-72	-18	-108	-66	-24	126	128
Total Pre-Tax Income	-72	-18	-111	-66	-22	72	124
Total Operating Income	-74	-15	-115	-69	-29	62	106
Total Gross Profit	45	109	204	409	715	1,173	1,733
Total Revenue	83	149	272	527	872	1,477	2,348
Operating Revenue	83	149	272	527	872	1,477	2,348
Total Cost of Revenue	38	39	67	118	157	303	614
Operating Cost of Revenue	38	39	67	118	157	303	614
Total Operating Expenses	119	125	320	477	744	1,111	1,628
Selling, General & Admin Expense	56	26	114	98	130	168	273
Marketing Expense	63	59	136	273	446	679	919
Research & Development Expense	-	11	22	29	48	79	149
Other Operating Expenses / (Income)	-	28	48	77	120	186	286
Total Other Income / (Expense), net	2.44	-2.84	4.25	2.99	7.88	9.81	18
Other Income / (Expense), net	2.81	-2.84	4.25	2.99	7.88	9.81	18
Income Tax Expense	0.09	0.13	-3.14	-0.03	1.98	-54	-4.44
Basic Earnings per Share	($2.07)	($0.51)	($0.58)	($0.32)	($0.11)	$0.58	$0.57
Weighted Average Basic Shares Outstanding	34.76M	35.35M	186.78M	204.52M	209.34M	215.94M	224.96M
Diluted Earnings per Share	($2.07)	($0.51)	($0.58)	($0.32)	($0.11)	$0.53	$0.51
Weighted Average Diluted Shares Outstanding	34.76M	35.35M	186.78M	204.52M	209.34M	236.81M	258.23M
Weighted Average Basic & Diluted Shares Outstanding	-	5.03M	205.07M	208.46M	214.25M	222.17M	227.94M

This table shows Hims & Hers Health's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Period end date	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026	6/30/2026
Net Income / (Loss) Attributable to Common Shareholders	1.25	11	13	76	26	49	43	16	21	-92	-128
Consolidated Net Income / (Loss)	1.25	11	13	76	26	49	43	16	21	-92	-86
Net Income / (Loss) Continuing Operations	1.25	11	13	76	26	49	43	16	21	-92	-86
Total Pre-Tax Income	2.20	12	13	24	22	60	33	12	18	-102	-93
Total Operating Income	-0.40	9.90	11	22	19	58	27	12	9.19	-78	-97
Total Gross Profit	204	229	257	318	370	431	416	442	444	397	481
Total Revenue	247	278	316	402	481	586	545	599	618	608	753
Operating Revenue	247	278	316	402	481	586	545	599	618	608	753
Total Cost of Revenue	43	49	59	84	112	155	129	157	173	211	272
Operating Cost of Revenue	43	49	59	84	112	155	129	157	173	211	272
Total Operating Expenses	204	219	246	296	351	373	389	430	435	475	578
Selling, General & Admin Expense	32	35	41	45	48	49	67	81	76	110	165
Marketing Expense	126	131	145	182	221	231	218	232	238	222	262
Research & Development Expense	13	15	19	21	24	30	38	41	41	47	55
Other Operating Expenses / (Income)	33	39	41	48	58	63	66	77	80	97	95
Total Other Income / (Expense), net	2.60	2.50	2.39	1.22	3.70	2.60	6.13	0.42	9.17	-23	4.74
Other Income / (Expense), net	2.60	2.50	2.39	1.22	3.70	2.60	6.13	0.42	9.17	-23	4.74
Income Tax Expense	0.95	1.28	0.13	-52	-3.73	11	-9.65	-3.55	-2.25	-9.44	-6.34
Other Adjustments to Net Income / (Loss) Attributable to Common Shareholders)	-	-	-	-	-	-	-	-	-	-	42
Basic Earnings per Share	$0.01	$0.05	$0.06	$0.35	$0.12	$0.22	$0.19	$0.07	$0.09	($0.40)	($0.37)
Weighted Average Basic Shares Outstanding	209.34M	213.45M	214.62M	216.62M	215.94M	221.99M	224.37M	226.35M	224.96M	228.36M	231.75M
Diluted Earnings per Share	$0.01	$0.05	$0.06	$0.32	$0.10	$0.20	$0.17	$0.06	$0.08	($0.40)	($0.37)
Weighted Average Diluted Shares Outstanding	209.34M	229.36M	234.79M	235.07M	236.81M	246.61M	256.78M	248.68M	258.23M	228.36M	231.75M
Weighted Average Basic & Diluted Shares Outstanding	214.25M	214.79M	217.08M	218.48M	222.17M	223.83M	226.02M	227.65M	227.94M	231.46M	233.31M

This table details how cash moves in and out of Hims & Hers Health's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Change in Cash & Equivalents	-19	5.55	44	-25	50	124	7.18
Net Cash From Operating Activities	-75	-2.48	-34	-27	73	251	300
Net Cash From Continuing Operating Activities	-75	-2.48	-34	-27	73	251	300
Net Income / (Loss) Continuing Operations	-72	-18	-108	-66	-24	126	128
Consolidated Net Income / (Loss)	-72	-18	-108	-66	-24	126	128
Depreciation Expense	0.26	1.06	4.08	7.47	9.52	17	55
Amortization Expense	-0.13	0.65	2.31	0.15	-5.69	-4.36	2.50
Non-Cash Adjustments To Reconcile Net Income	6.92	9.75	67	36	72	93	157
Changes in Operating Assets and Liabilities, net	-9.85	4.19	0.07	-4.61	21	20	-42
Net Cash From Investing Activities	-39	-40	-156	35	-12	-19	-1,025
Net Cash From Continuing Investing Activities	-39	-40	-156	35	-12	-19	-1,025
Purchase of Property, Plant & Equipment	-1.79	-4.23	-5.01	-7.25	-26	-53	-243
Acquisitions	0.00	0.00	-46	-0.46	0.00	-15	-145
Purchase of Investments	-42	-95	-267	-188	-157	-161	-726
Sale and/or Maturity of Investments	4.50	60	162	230	172	210	109
Other Investing Activities, net	-	-	-	-	0.00	0.00	-20
Net Cash From Financing Activities	95	48	235	-33	-11	-108	730
Net Cash From Continuing Financing Activities	95	48	235	-33	-11	-108	730
Repayment of Debt	-9.43	-1.52	1.19	-	0.00	0.00	-3.42
Repurchase of Common Equity	0.00	-3.36	-35	0.00	-2.00	-83	-90
Issuance of Debt	2.14	-	-	-	0.00	0.00	970
Issuance of Common Equity	0.00	0.00	75	1.18	2.30	3.90	6.44
Other Financing Activities, net	0.04	0.68	194	-34	-12	-29	-153
Effect of Exchange Rate Changes	-0.01	-0.01	-0.07	-0.05	-0.01	-0.27	2.51
Cash Income Taxes Paid	0.14	0.22	0.34	0.64	1.11	7.92	23

This table details how cash moves in and out of Hims & Hers Health's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Period end date	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026	6/30/2026
Net Change in Cash & Equivalents	39	8.57	24	36	55	54	850	-779	-117	-6.35	388
Net Cash From Operating Activities	22	26	54	85	86	109	-19	149	61	89	-36
Net Cash From Continuing Operating Activities	22	26	54	85	86	109	-19	149	61	89	-36
Net Income / (Loss) Continuing Operations	1.25	11	13	76	26	49	43	16	21	-92	-86
Consolidated Net Income / (Loss)	1.25	11	13	76	26	49	43	16	21	-92	-86
Depreciation Expense	2.66	3.00	3.64	4.38	6.06	8.28	10	18	18	22	29
Amortization Expense	-1.65	-1.08	-1.20	-1.16	-0.92	-0.69	0.68	1.49	1.02	1.46	1.86
Non-Cash Adjustments To Reconcile Net Income	19	20	22	26	25	29	38	53	37	103	66
Changes in Operating Assets and Liabilities, net	0.88	-7.30	16	-19	30	23	-111	61	-16	56	-47
Net Cash From Investing Activities	21	13	-4.47	-10	-17	-33	-21	-887	-84	-15	85
Net Cash From Continuing Investing Activities	21	13	-4.47	-10	-17	-33	-21	-887	-84	-15	85
Purchase of Property, Plant & Equipment	-11	-14	-6.03	-5.88	-27	-59	-50	-69	-64	-36	-32
Acquisitions	-	0.00	-	-	-	-5.10	-	-117	-23	-138	-180
Sale and/or Maturity of Investments	53	98	28	64	20	31	29	12	36	170	297
Net Cash From Financing Activities	-3.96	-30	-25	-39	-14	-23	889	-39	-98	-78	342
Net Cash From Continuing Financing Activities	-3.96	-30	-25	-39	-14	-23	889	-39	-98	-78	342
Repayment of Debt	-	0.00	-	-	-	-1.24	-1.81	-0.35	-0.03	0.00	-0.67
Other Financing Activities, net	-3.36	-2.24	-6.76	-8.78	-11	-22	-82	-29	-20	-78	-52
Effect of Exchange Rate Changes	-0.05	0.00	-0.00	0.19	-0.46	0.24	1.03	-1.49	2.72	-2.38	-2.81
Cash Interest Paid	-	-	-	-	-	0.00	-	-	-	1.05	0.69
Cash Income Taxes Paid	0.46	0.13	3.34	0.40	4.04	0.36	23	0.38	-0.27	-6.60	3.94

This table presents Hims & Hers Health's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Total Assets	205	119	421	366	441	708	2,155
Total Current Assets	1.66	113	270	217	265	396	768
Cash & Equivalents	1.51	27	72	47	97	221	229
Short-Term Investments	-	73	175	133	124	80	349
Accounts Receivable	-	-	-	-	-	-	32
Inventories, net	-	3.54	14	22	22	64	80
Prepaid Expenses	0.15	5.40	9.07	15	22	31	78
Plant, Property, & Equipment, net	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Noncurrent Assets	203	5.61	151	150	176	312	1,387
Long-Term Investments	-	-	-	-	-	0.00	351
Goodwill	-	0.00	111	111	111	113	278
Intangible Assets	-	0.06	26	22	19	43	196
Noncurrent Deferred & Refundable Income Taxes	-	-	-	-	0.00	62	83
Other Noncurrent Operating Assets	203	5.55	14	17	47	94	479
Total Liabilities & Shareholders' Equity	205	119	421	366	441	708	2,155
Total Liabilities	8.17	16	86	55	97	231	1,614
Total Current Liabilities	0.98	15	79	48	88	221	404
Accounts Payable	0.45	8.07	20	32	43	91	143
Accrued Expenses	0.53	4.98	12	12	29	53	77
Current Deferred Revenue	-	1.27	3.19	1.47	7.73	75	127
Other Current Liabilities	-	0.91	1.37	1.66	1.28	1.89	57
Total Noncurrent Liabilities	7.19	0.38	6.75	6.66	8.69	9.46	1,209
Long-Term Debt	-	-	-	-	-	0.00	973
Noncurrent Deferred & Payable Income Tax Liabilities	-	-	-	-	-	0.00	29
Other Noncurrent Operating Liabilities	7.19	0.38	6.75	6.66	8.69	9.46	208
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	5.00	-147	335	312	344	477	541
Total Preferred & Common Equity	5.00	-147	335	312	344	477	541
Total Common Equity	5.00	-147	335	312	344	477	541
Common Stock	3.85	24	614	657	712	719	652
Retained Earnings	1.15	-171	-279	-345	-368	-242	-114
Accumulated Other Comprehensive Income / (Loss)	-	-0.01	-0.14	-0.28	-0.12	-0.32	2.29

This table presents Hims & Hers Health's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q1 2023	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024	Q1 2025	Q2 2025	Q3 2025	Q1 2026	Q2 2026
Period end date	3/31/2023	6/30/2023	9/30/2023	3/31/2024	6/30/2024	9/30/2024	3/31/2025	6/30/2025	9/30/2025	3/31/2026	6/30/2026
Total Assets	376	390	414	448	481	602	892	1,878	2,233	2,267	3,629
Total Current Assets	226	235	250	262	291	326	447	1,356	845	1,045	1,385
Cash & Equivalents	49	65	58	105	129	166	274	1,125	346	222	610
Short-Term Investments	136	128	155	98	98	89	49	20	284	529	231
Accounts Receivable	-	-	-	-	-	-	-	-	-	150	375
Inventories, net	21	21	22	30	41	49	76	142	106	79	88
Prepaid Expenses	20	20	16	28	23	23	48	69	110	66	80
Plant, Property, & Equipment, net	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Noncurrent Assets	151	155	164	186	190	276	445	522	1,388	1,222	2,244
Long-Term Investments	-	-	-	-	-	-	-	-	438	0.00	0.00
Goodwill	111	111	111	111	111	113	118	118	259	343	1,102
Intangible Assets	21	20	19	18	17	45	43	41	195	261	423
Noncurrent Deferred & Refundable Income Taxes	-	-	-	-	-	54	62	84	85	92	112
Other Noncurrent Operating Assets	19	24	33	58	62	64	221	279	411	526	608
Total Liabilities & Shareholders' Equity	376	390	414	448	481	602	892	1,878	2,233	2,267	3,629
Total Liabilities	64	70	85	104	119	162	342	1,315	1,652	1,821	3,305
Total Current Liabilities	56	67	83	93	109	153	280	272	451	619	1,483
Accounts Payable	38	38	42	44	57	75	109	105	198	307	501
Accrued Expenses	14	20	27	27	29	43	57	66	80	91	210
Current Deferred Revenue	2.87	2.06	4.39	14	21	32	111	98	118	165	141
Other Current Liabilities	1.69	1.84	1.93	1.54	1.63	1.79	3.74	3.14	54	56	630
Total Noncurrent Liabilities	7.28	3.27	2.76	10	9.86	9.57	62	1,043	1,202	1,202	1,822
Long-Term Debt	-	-	-	-	-	-	-	969	971	974	1,365
Noncurrent Deferred & Payable Income Tax Liabilities	-	-	-	-	-	-	-	-	31	24	31
Other Noncurrent Operating Liabilities	7.28	3.27	2.76	10	9.86	9.57	62	73	199	204	425
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	313	320	329	344	362	440	549	563	581	446	324
Total Preferred & Common Equity	313	320	329	344	362	440	549	563	581	446	324
Total Common Equity	313	320	329	344	362	440	549	563	581	446	324
Common Stock	668	682	698	702	706	708	742	712	714	656	662
Retained Earnings	-355	-362	-369	-357	-344	-268	-193	-150	-134	-206	-292
Accumulated Other Comprehensive Income / (Loss)	-0.11	-0.26	-0.13	-0.16	-0.17	0.23	-0.16	0.82	0.92	-4.41	-46

This table displays calculated financial ratios and metrics derived from Hims & Hers Health's official financial filings.

Metric	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Growth Metrics	-	-	-	-	-	-	-
Revenue Growth	0.00%	80.18%	82.77%	93.81%	65.49%	69.33%	59.00%
EBITDA Growth	0.00%	77.22%	-541.22%	44.36%	69.46%	575.96%	114.25%
EBIT Growth	0.00%	74.88%	-515.97%	40.69%	67.17%	432.44%	72.81%
NOPAT Growth	0.00%	79.65%	-659.65%	40.29%	57.13%	627.72%	0.55%
Net Income Growth	0.00%	74.86%	-494.34%	38.99%	64.15%	635.28%	1.85%
EPS Growth	0.00%	75.36%	-13.73%	44.83%	65.63%	581.82%	-3.77%
Operating Cash Flow Growth	0.00%	96.69%	-1,288.14%	22.90%	376.97%	241.69%	19.48%
Free Cash Flow Firm Growth	0.00%	0.00%	-214.44%	75.93%	62.10%	431.18%	-581.79%
Invested Capital Growth	0.00%	-98.52%	4,420.10%	1.49%	-1.25%	35.26%	233.44%
Revenue Q/Q Growth	0.00%	0.00%	18.91%	18.56%	10.02%	18.88%	6.18%
EBITDA Q/Q Growth	0.00%	0.00%	-31.04%	24.96%	42.53%	40.25%	5.87%
EBIT Q/Q Growth	0.00%	0.00%	-30.71%	23.53%	38.13%	38.93%	-3.08%
NOPAT Q/Q Growth	0.00%	0.00%	-17.27%	12.66%	27.56%	29.26%	-9.10%
Net Income Q/Q Growth	0.00%	0.00%	-31.73%	23.57%	34.04%	24.47%	-4.05%
EPS Q/Q Growth	0.00%	0.00%	6.45%	15.79%	35.29%	20.45%	-3.77%
Operating Cash Flow Q/Q Growth	0.00%	0.00%	-8.98%	-15.77%	64.09%	34.50%	-7.71%
Free Cash Flow Firm Q/Q Growth	0.00%	0.00%	0.00%	8.47%	26.68%	197.32%	-70.36%
Invested Capital Q/Q Growth	0.00%	0.00%	3.37%	5.25%	6.13%	-5.12%	21.59%
Profitability Metrics	-	-	-	-	-	-	-
Gross Margin	54.03%	73.58%	75.22%	77.57%	81.99%	79.45%	73.84%
EBITDA Margin	-86.58%	-10.95%	-38.40%	-11.02%	-2.03%	5.72%	7.71%
Operating Margin	-90.14%	-10.18%	-42.31%	-13.04%	-3.38%	4.19%	4.50%
EBIT Margin	-86.73%	-12.09%	-40.75%	-12.47%	-2.47%	4.86%	5.28%
Profit (Net Income) Margin	-87.29%	-12.18%	-39.60%	-12.46%	-2.70%	8.54%	5.47%
Tax Burden Percent	100.13%	100.71%	97.17%	99.95%	109.16%	175.76%	103.58%
Interest Burden Percent	100.52%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
Effective Tax Rate	0.00%	0.00%	0.00%	0.00%	0.00%	-75.76%	-3.58%
Return on Invested Capital (ROIC)	-26.70%	-10.71%	-121.04%	-36.67%	-15.70%	70.90%	28.61%
ROIC Less NNEP Spread (ROIC-NNEP)	1,295.79%	4.06%	-103.23%	-27.51%	-14.21%	64.19%	13.60%
Return on Net Nonoperating Assets (RNNOA)	-9.96%	-1.38%	71.85%	16.34%	8.52%	-40.18%	-3.38%
Return on Equity (ROE)	-36.66%	-12.09%	-49.19%	-20.32%	-7.18%	30.71%	25.23%
Cash Return on Invested Capital (CROIC)	0.00%	183.47%	-312.39%	-38.14%	-14.44%	40.92%	-79.11%
Operating Return on Assets (OROA)	-34.97%	-11.12%	-41.09%	-16.70%	-5.34%	12.49%	8.66%
Return on Assets (ROA)	-35.19%	-11.20%	-39.93%	-16.69%	-5.83%	21.94%	8.97%
Return on Common Equity (ROCE)	-0.93%	5.72%	-21.10%	-20.32%	-7.18%	30.71%	25.23%
Return on Equity Simple (ROE_SIMPLE)	-1,441.28%	12.33%	-32.17%	-21.07%	-6.84%	26.44%	0.00%
Net Operating Profit after Tax (NOPAT)	-52	-11	-81	-48	-21	109	109
NOPAT Margin	-63.09%	-7.13%	-29.62%	-9.13%	-2.36%	7.37%	4.66%
Net Nonoperating Expense Percent (NNEP)	-1,322.50%	-14.77%	-17.81%	-9.16%	-1.49%	6.71%	15.01%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-15.43%	-5.87%	22.82%	7.21%
Cost of Revenue to Revenue	45.97%	26.42%	24.78%	22.43%	18.01%	20.55%	26.17%
SG&A Expenses to Revenue	67.67%	17.50%	41.81%	18.64%	14.89%	11.36%	11.62%
R&D to Revenue	0.00%	7.55%	8.23%	5.55%	5.53%	5.34%	6.36%
Operating Expenses to Revenue	144.16%	83.76%	117.53%	90.61%	85.37%	75.26%	69.34%
Earnings before Interest and Taxes (EBIT)	-72	-18	-111	-66	-22	72	124
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-71	-16	-104	-58	-18	84	181
Valuation Ratios	-	-	-	-	-	-	-
Price to Book Value (P/BV)	49.81	0.00	3.99	4.27	5.48	11.08	13.66
Price to Tangible Book Value (P/TBV)	49.81	0.00	6.75	7.44	8.79	16.48	111.18
Price to Revenue (P/Rev)	3.02	2.47	4.91	2.53	2.16	3.58	3.15
Price to Earnings (P/E)	0.00	0.00	0.00	0.00	0.00	41.91	57.58
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.00%	0.00%	0.00%	0.00%	0.00%	2.39%	1.74%
Enterprise Value to Invested Capital (EV/IC)	2.25	179.53	8.69	8.72	12.83	28.24	12.64
Enterprise Value to Revenue (EV/Rev)	5.32	3.48	4.16	2.19	1.92	3.37	3.17
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00	0.00	0.00	0.00	59.00	41.12
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00	0.00	0.00	69.48	60.03
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00	0.00	0.00	45.80	68.00
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	0.00	0.00	0.00	22.77	19.84	24.80
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	2.85	0.00	0.00	0.00	79.35	0.00
Leverage & Solvency	-	-	-	-	-	-	-
Debt to Equity	0.00	0.00	0.13	0.00	0.02	0.00	1.80
Long-Term Debt to Equity	0.00	0.00	0.00	0.00	0.00	0.00	1.80
Financial Leverage	-0.01	-0.34	-0.70	-0.59	-0.60	-0.63	-0.25
Leverage Ratio	1.04	1.08	1.23	1.22	1.23	1.40	2.81
Compound Leverage Factor	1.05	1.08	1.23	1.22	1.23	1.40	2.81
Debt to Total Capital	0.00%	0.00%	11.35%	0.00%	2.11%	0.00%	64.35%
Short-Term Debt to Total Capital	0.00%	0.00%	11.35%	0.00%	2.11%	0.00%	0.24%
Long-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	64.11%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	97.46%	242.47%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	2.54%	-142.47%	88.65%	100.00%	97.89%	100.00%	35.65%
Debt to EBITDA	0.00	0.00	-0.41	0.00	-0.42	0.00	5.40
Net Debt to EBITDA	0.00	0.00	1.96	0.00	12.04	0.00	0.26
Long-Term Debt to EBITDA	0.00	0.00	0.00	0.00	0.00	0.00	5.38
Debt to NOPAT	0.00	0.00	-0.53	0.00	-0.36	0.00	8.92
Net Debt to NOPAT	0.00	0.00	2.54	0.00	10.36	0.00	0.43
Long-Term Debt to NOPAT	0.00	0.00	0.00	0.00	0.00	0.00	8.89
Altman Z-Score	17.54	13.84	8.71	14.71	12.78	15.97	4.16
Noncontrolling Interest Sharing Ratio	97.46%	147.34%	57.11%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-
Current Ratio	1.69	7.43	3.41	4.52	3.00	1.79	1.90
Quick Ratio	1.54	6.58	3.12	3.75	2.50	1.36	1.43
Cash Flow Metrics	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	0.00	182	-208	-50	-19	63	-303
Operating Cash Flow to CapEx	-4,189.54%	-58.56%	-687.28%	-366.10%	277.38%	475.99%	123.67%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow to Interest Expense	-202.89	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	-207.73	0.00	0.00	0.00	0.00	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-	-
Asset Turnover	0.40	0.92	1.01	1.34	2.16	2.57	1.64
Accounts Receivable Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Inventory Turnover	0.00	0.00	7.88	6.73	7.13	6.98	8.50
Fixed Asset Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Accounts Payable Turnover	85.10	9.24	4.86	4.55	4.16	4.52	5.24
Days Sales Outstanding (DSO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Inventory Outstanding (DIO)	0.00	0.00	46.32	54.23	51.16	52.27	42.95
Days Payable Outstanding (DPO)	4.29	39.52	75.04	80.30	87.66	80.76	69.66
Cash Conversion Cycle (CCC)	-4.29	-39.52	-28.72	-26.07	-36.50	-28.49	-26.71
Capital & Investment Metrics	-	-	-	-	-	-	-
Invested Capital	195	2.88	130	132	130	176	588
Invested Capital Turnover	0.42	1.50	4.09	4.02	6.64	9.62	6.14
Increase / (Decrease) in Invested Capital	0.00	-192	127	1.94	-1.66	46	412
Enterprise Value (EV)	439	517	1,131	1,152	1,673	4,983	7,439
Market Capitalization	249	367	1,336	1,332	1,887	5,283	7,392
Book Value per Share	$0.20	($5.84)	$1.64	$1.50	$1.62	$2.18	$2.38
Tangible Book Value per Share	$0.20	($5.84)	$0.97	$0.86	$1.01	$1.47	$0.29
Total Capital	197	103	377	312	351	477	1,517
Total Debt	0.00	0.00	43	0.00	7.41	0.00	976
Total Long-Term Debt	0.00	0.00	0.00	0.00	0.00	0.00	973
Net Debt	-1.51	-100	-204	-180	-214	-300	47
Capital Expenditures (CapEx)	1.79	4.23	5.01	7.25	26	53	243
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-0.83	-2.35	-14	-11	-37	-126	-211
Debt-free Net Working Capital (DFNWC)	0.68	98	234	169	184	174	367
Net Working Capital (NWC)	0.68	98	191	169	177	174	363
Net Nonoperating Expense (NNE)	20	7.51	27	18	2.93	-17	-19
Net Nonoperating Obligations (NNO)	-1.51	-100	-204	-180	-214	-300	47
Total Depreciation and Amortization (D&A)	0.13	1.70	6.39	7.62	3.83	13	57
Debt-free, Cash-free Net Working Capital to Revenue	-1.01%	-1.58%	-5.06%	-2.08%	-4.24%	-8.52%	-8.97%
Debt-free Net Working Capital to Revenue	0.82%	65.78%	85.89%	32.01%	21.10%	11.82%	15.63%
Net Working Capital to Revenue	0.82%	65.78%	70.14%	32.01%	20.25%	11.82%	15.47%
Earnings Adjustments	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.00	($0.96)	($0.58)	($0.32)	($0.11)	$0.58	$0.57
Adjusted Weighted Average Basic Shares Outstanding	0.00	191.35M	186.78M	204.52M	209.34M	215.94M	224.96M
Adjusted Diluted Earnings per Share	$0.00	($0.96)	($0.58)	($0.32)	($0.11)	$0.53	$0.51
Adjusted Weighted Average Diluted Shares Outstanding	0.00	191.35M	186.78M	204.52M	209.34M	236.81M	258.23M
Adjusted Basic & Diluted Earnings per Share	$0.00	($0.96)	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	0.00	25.16M	205.07M	208.46M	214.25M	222.17M	227.94M
Normalized Net Operating Profit after Tax (NOPAT)	-52	-11	-81	-48	-21	43	74
Normalized NOPAT Margin	-63.09%	-7.13%	-29.62%	-9.13%	-2.36%	2.93%	3.15%
Pre Tax Income Margin	-87.18%	-12.09%	-40.75%	-12.47%	-2.47%	4.86%	5.28%
Debt Service Ratios	-	-	-	-	-	-	-
EBIT to Interest Expense	-194.05	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT to Interest Expense	-141.16	0.00	0.00	0.00	0.00	0.00	0.00
EBIT Less CapEx to Interest Expense	-198.89	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT Less CapEx to Interest Expense	-146.01	0.00	0.00	0.00	0.00	0.00	0.00
Payout Ratios	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	0.00%	-18.53%	-32.40%	0.00%	-8.49%	65.88%	70.08%

This table displays calculated financial ratios and metrics derived from Hims & Hers Health's official financial filings.

Metric	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Period end date	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026	6/30/2026
DEI Shares Outstanding	-	-	-	-	-	-	-	-	-	227,938,766.00	231,457,695.00
DEI Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	227,938,766.00	231,457,695.00
DEI Earnings Per Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-0.40	-0.55
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	47.50%	45.81%	51.82%	77.13%	95.09%	110.67%	72.61%	49.16%	28.41%	3.77%	38.25%
EBITDA Growth	132.48%	266.50%	353.04%	541.80%	756.87%	375.17%	177.36%	17.02%	36.55%	-214.78%	-238.91%
EBIT Growth	119.91%	228.12%	287.22%	441.14%	915.07%	387.74%	144.73%	-48.19%	-17.67%	-267.87%	-381.42%
NOPAT Growth	97.21%	212.70%	268.99%	1,297.14%	9,673.78%	433.03%	216.45%	-78.74%	-52.51%	-215.77%	-296.78%
Net Income Growth	111.41%	210.54%	285.79%	1,098.92%	1,990.36%	344.69%	219.66%	-79.13%	-20.84%	-286.15%	-303.01%
EPS Growth	120.00%	200.00%	300.00%	900.00%	900.00%	300.00%	183.33%	-81.25%	-20.00%	-300.00%	-317.65%
Operating Cash Flow Growth	427.18%	172.47%	218.52%	238.48%	292.96%	322.21%	-135.67%	74.42%	-29.02%	-18.09%	-88.00%
Free Cash Flow Firm Growth	114.21%	-891.54%	812.83%	354.72%	-1,799.80%	-179.51%	-2,843.62%	-3,376.01%	-1,553.18%	-1,509.00%	-142.24%
Invested Capital Growth	-1.25%	15.54%	2.25%	51.29%	35.26%	52.79%	187.77%	160.20%	233.44%	195.42%	118.89%
Revenue Q/Q Growth	8.79%	12.79%	13.47%	27.22%	19.82%	21.80%	-7.03%	9.94%	3.15%	-1.57%	23.86%
EBITDA Q/Q Growth	152.75%	347.44%	10.72%	69.05%	2.31%	148.12%	-35.37%	-28.67%	19.38%	-308.57%	21.78%
EBIT Q/Q Growth	131.75%	464.80%	8.23%	75.75%	-5.52%	171.39%	-45.69%	-62.79%	50.15%	-653.32%	8.96%
NOPAT Q/Q Growth	96.21%	4,017.96%	22.97%	556.09%	-69.71%	118.14%	-27.00%	-55.93%	-32.33%	-631.72%	-24.09%
Net Income Q/Q Growth	116.45%	793.82%	19.49%	468.46%	-65.57%	90.14%	-14.11%	-62.89%	30.60%	-547.14%	6.32%
EPS Q/Q Growth	125.00%	400.00%	20.00%	433.33%	-68.75%	100.00%	-15.00%	-64.71%	33.33%	-600.00%	7.50%
Operating Cash Flow Q/Q Growth	-12.73%	17.54%	107.42%	59.10%	1.31%	26.28%	-117.52%	877.95%	-58.77%	45.74%	-140.22%
Free Cash Flow Firm Q/Q Growth	142.19%	-874.20%	171.91%	8.46%	-381.52%	-27.31%	-605.83%	-29.50%	-42.06%	-23.91%	-6.26%
Invested Capital Q/Q Growth	6.13%	13.68%	-9.19%	38.10%	-5.12%	28.41%	71.03%	24.87%	21.59%	13.77%	26.73%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	82.74%	82.36%	81.30%	79.16%	76.81%	73.50%	76.39%	73.80%	71.94%	65.25%	63.83%
EBITDA Margin	1.30%	5.15%	5.03%	6.68%	5.70%	11.62%	8.08%	5.24%	6.06%	-12.85%	-8.11%
Operating Margin	-0.16%	3.56%	3.49%	5.57%	3.87%	9.88%	4.90%	1.97%	1.49%	-12.88%	-12.90%
EBIT Margin	0.89%	4.46%	4.25%	5.88%	4.63%	10.32%	6.03%	2.04%	2.97%	-16.70%	-12.27%
Profit (Net Income) Margin	0.50%	4.00%	4.21%	18.82%	5.41%	8.44%	7.80%	2.63%	3.33%	-15.15%	-11.46%
Tax Burden Percent	56.69%	89.72%	99.05%	320.38%	116.75%	81.80%	129.38%	129.05%	112.25%	90.71%	93.15%
Interest Burden Percent	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.19%
Effective Tax Rate	43.31%	10.28%	0.95%	-220.38%	-16.75%	18.20%	-29.38%	-29.05%	-12.25%	0.00%	0.00%
Return on Invested Capital (ROIC)	-0.61%	22.15%	27.73%	143.55%	43.42%	76.93%	48.94%	16.79%	10.25%	-47.69%	-37.69%
ROIC Less NNEP Spread (ROIC-NNEP)	-1.36%	20.97%	26.59%	141.85%	41.74%	76.11%	44.99%	16.49%	2.10%	27.31%	-48.14%
Return on Net Nonoperating Assets (RNNOA)	0.82%	-12.15%	-16.21%	-84.84%	-26.13%	-44.19%	-19.58%	-5.67%	-0.52%	-2.73%	-18.95%
Return on Equity (ROE)	0.20%	10.01%	11.53%	58.71%	17.29%	32.75%	29.35%	11.12%	9.72%	-50.42%	-56.64%
Cash Return on Invested Capital (CROIC)	-14.44%	13.03%	5.48%	13.67%	40.92%	38.69%	-29.96%	-53.02%	-79.11%	-103.62%	-92.07%
Operating Return on Assets (OROA)	1.92%	10.38%	10.43%	14.36%	11.91%	27.50%	10.30%	3.18%	4.87%	-25.06%	-11.49%
Return on Assets (ROA)	1.09%	9.31%	10.33%	46.02%	13.91%	22.49%	13.32%	4.11%	5.47%	-22.73%	-10.73%
Return on Common Equity (ROCE)	0.20%	10.01%	11.53%	58.71%	17.29%	32.75%	29.35%	11.12%	9.72%	-50.42%	-56.64%
Return on Equity Simple (ROE_SIMPLE)	0.00%	-0.68%	5.00%	23.01%	0.00%	29.93%	0.00%	0.00%	0.00%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	-0.23	8.88	11	72	22	47	35	15	10	-55	-68
NOPAT Margin	-0.09%	3.19%	3.46%	17.85%	4.51%	8.08%	6.35%	2.54%	1.67%	-9.02%	-9.03%
Net Nonoperating Expense Percent (NNEP)	0.75%	1.18%	1.14%	1.70%	1.68%	0.82%	3.94%	0.31%	8.14%	-75.00%	10.46%
Return On Investment Capital (ROIC_SIMPLE)	-0.06%	-	-	-	4.55%	8.62%	2.26%	0.98%	0.68%	-3.86%	-4.03%
Cost of Revenue to Revenue	17.26%	17.64%	18.70%	20.84%	23.19%	26.50%	23.61%	26.20%	28.06%	34.75%	36.17%
SG&A Expenses to Revenue	13.10%	12.43%	12.85%	11.11%	9.98%	8.30%	12.35%	13.47%	12.33%	18.03%	21.96%
R&D to Revenue	5.44%	5.51%	5.91%	5.25%	4.94%	5.10%	6.95%	6.77%	6.63%	7.72%	7.29%
Operating Expenses to Revenue	82.90%	78.80%	77.80%	73.59%	72.94%	63.62%	71.48%	71.83%	70.45%	78.13%	76.74%
Earnings before Interest and Taxes (EBIT)	2.20	12	13	24	22	60	33	12	18	-102	-92
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	3.20	14	16	27	27	68	44	31	37	-78	-61
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	5.48	9.52	11.98	9.09	11.08	11.95	19.83	22.07	13.66	10.61	24.76
Price to Tangible Book Value (P/TBV)	8.79	15.20	18.54	14.15	16.48	16.92	27.60	101.09	111.18	0.00	0.00
Price to Revenue (P/Rev)	2.16	3.42	4.06	3.22	3.58	3.68	5.54	5.80	3.15	2.00	3.11
Price to Earnings (P/E)	0.00	0.00	240.13	39.51	41.91	39.93	57.63	95.82	57.58	0.00	0.00
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.00%	0.00%	0.42%	2.53%	2.39%	2.50%	1.74%	1.04%	1.74%	0.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	12.83	20.79	30.51	20.13	28.24	27.55	28.34	26.29	12.64	7.40	10.08
Enterprise Value to Revenue (EV/Rev)	1.92	3.21	3.85	3.01	3.37	3.50	5.45	5.75	3.17	2.09	3.32
Enterprise Value to EBITDA (EV/EBITDA)	0.00	594.10	150.40	62.19	59.00	45.17	66.03	74.45	41.12	142.78	0.00
Enterprise Value to EBIT (EV/EBIT)	0.00	6,010.45	194.69	72.55	69.48	52.10	78.88	99.50	60.03	0.00	0.00
Enterprise Value to NOPAT (EV/NOPAT)	0.00	81.19	399.96	44.49	45.80	41.39	62.89	105.71	68.00	0.00	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	22.77	34.32	32.46	20.06	19.84	18.67	41.98	39.14	24.80	17.68	32.45
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	171.03	562.52	177.30	79.35	86.08	0.00	0.00	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.02	0.02	0.00	0.00	0.00	0.00	1.72	1.67	1.80	2.18	4.21
Long-Term Debt to Equity	0.00	0.00	0.00	0.00	0.00	0.00	1.72	1.67	1.80	2.18	4.21
Financial Leverage	-0.60	-0.58	-0.61	-0.60	-0.63	-0.58	-0.44	-0.34	-0.25	-0.10	0.39
Leverage Ratio	1.23	1.25	1.28	1.32	1.40	1.50	2.55	2.78	2.81	3.17	6.21
Compound Leverage Factor	1.23	1.25	1.28	1.32	1.40	1.50	2.55	2.78	2.81	3.17	6.22
Debt to Total Capital	2.11%	2.11%	0.00%	0.00%	0.00%	0.00%	63.27%	62.57%	64.35%	68.59%	80.82%
Short-Term Debt to Total Capital	2.11%	2.11%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.24%	0.00%	0.00%
Long-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	63.27%	62.57%	64.11%	68.59%	80.82%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	97.89%	97.89%	100.00%	100.00%	100.00%	100.00%	36.73%	37.43%	35.65%	31.41%	19.18%
Debt to EBITDA	-0.42	1.43	0.00	0.00	0.00	0.00	5.83	5.68	5.40	28.07	-19.39
Net Debt to EBITDA	12.04	-37.80	0.00	0.00	0.00	0.00	-1.05	-0.57	0.26	6.43	-7.45
Long-Term Debt to EBITDA	0.00	0.00	0.00	0.00	0.00	0.00	5.83	5.68	5.38	28.07	-19.39
Debt to NOPAT	-0.36	0.20	0.00	0.00	0.00	0.00	5.55	8.07	8.92	-45.47	-12.62
Net Debt to NOPAT	10.36	-5.17	0.00	0.00	0.00	0.00	-1.00	-0.81	0.43	-10.42	-4.85
Long-Term Debt to NOPAT	0.00	0.00	0.00	0.00	0.00	0.00	5.55	8.07	8.89	-45.47	-12.62
Altman Z-Score	12.96	20.56	23.72	16.70	15.74	13.65	6.80	5.79	3.99	2.56	1.94
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	3.00	2.80	2.68	2.14	1.79	1.59	4.98	1.88	1.90	1.69	0.93
Quick Ratio	2.50	2.18	2.09	1.66	1.36	1.15	4.20	1.40	1.43	1.46	0.82
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	1.43	-11	7.96	8.63	-24	-31	-218	-283	-402	-498	-529
Operating Cash Flow to CapEx	196.31%	185.11%	889.38%	1,449.87%	321.31%	184.78%	-37.99%	214.43%	95.98%	246.00%	-111.42%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	2.16	2.33	2.45	2.44	2.57	2.66	1.71	1.56	1.64	1.50	0.94
Accounts Receivable Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Inventory Turnover	7.13	6.68	6.13	6.59	6.98	7.73	5.26	7.12	8.50	8.64	7.09
Fixed Asset Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Accounts Payable Turnover	4.16	4.14	3.99	3.99	4.52	5.36	5.91	4.03	5.24	3.22	2.69
Days Sales Outstanding (DSO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Inventory Outstanding (DIO)	51.16	54.63	59.54	55.37	52.27	47.19	69.46	51.23	42.95	42.25	51.47
Days Payable Outstanding (DPO)	87.66	88.15	91.57	91.46	80.76	68.09	61.73	90.46	69.66	113.21	135.93
Cash Conversion Cycle (CCC)	-36.50	-33.53	-32.03	-36.09	-28.49	-20.90	7.72	-39.23	-26.71	-70.96	-84.46
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	130	148	135	186	176	227	388	484	588	669	848
Invested Capital Turnover	6.64	6.94	8.01	8.04	9.62	9.52	7.71	6.60	6.14	5.29	4.17
Increase / (Decrease) in Invested Capital	-1.66	20	2.97	63	46	78	253	298	412	443	461
Enterprise Value (EV)	1,673	3,083	4,109	3,745	4,983	6,242	10,983	12,723	7,439	4,955	8,549
Market Capitalization	1,887	3,280	4,337	3,999	5,283	6,565	11,158	12,820	7,392	4,732	8,025
Book Value per Share	$1.62	$1.61	$1.69	$2.03	$2.18	$2.47	$2.51	$2.57	$2.38	$1.96	$1.40
Tangible Book Value per Share	$1.01	$1.01	$1.09	$1.30	$1.47	$1.75	$1.81	$0.56	$0.29	($0.69)	($5.19)
Total Capital	351	352	362	440	477	549	1,532	1,552	1,517	1,420	1,689
Total Debt	7.41	7.41	0.00	0.00	0.00	0.00	969	971	976	974	1,365
Total Long-Term Debt	0.00	0.00	0.00	0.00	0.00	0.00	969	971	973	974	1,365
Net Debt	-214	-196	-227	-254	-300	-323	-175	-97	47	223	524
Capital Expenditures (CapEx)	11	14	6.03	5.88	27	59	50	69	64	36	32
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-37	-28	-45	-80	-126	-156	-61	-235	-211	-324	-940
Debt-free Net Working Capital (DFNWC)	184	176	182	174	174	167	1,083	394	367	427	-99
Net Working Capital (NWC)	177	168	182	174	174	167	1,083	394	363	427	-99
Net Nonoperating Expense (NNE)	-1.47	-2.24	-2.37	-3.91	-4.31	-2.13	-7.93	-0.54	-10	37	18
Net Nonoperating Obligations (NNO)	-214	-196	-227	-254	-300	-323	-175	-97	47	223	524
Total Depreciation and Amortization (D&A)	1.01	1.92	2.44	3.22	5.15	7.58	11	19	19	23	31
Debt-free, Cash-free Net Working Capital to Revenue	-4.24%	-2.89%	-4.22%	-6.47%	-8.52%	-8.75%	-3.04%	-10.64%	-8.97%	-13.68%	-36.45%
Debt-free Net Working Capital to Revenue	21.10%	18.33%	17.08%	13.99%	11.82%	9.34%	53.80%	17.84%	15.63%	18.00%	-3.83%
Net Working Capital to Revenue	20.25%	17.55%	17.08%	13.99%	11.82%	9.34%	53.80%	17.84%	15.47%	18.00%	-3.83%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.01	$0.05	$0.06	$0.35	$0.12	$0.22	$0.19	$0.07	$0.09	($0.40)	($0.37)
Adjusted Weighted Average Basic Shares Outstanding	209.34M	213.45M	214.62M	216.62M	215.94M	221.99M	224.37M	226.35M	224.96M	228.36M	231.75M
Adjusted Diluted Earnings per Share	$0.01	$0.05	$0.06	$0.32	$0.10	$0.20	$0.17	$0.06	$0.08	($0.40)	($0.37)
Adjusted Weighted Average Diluted Shares Outstanding	209.34M	229.36M	234.79M	235.07M	236.81M	246.61M	256.78M	248.68M	258.23M	228.36M	231.75M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	214.25M	214.79M	217.08M	218.48M	222.17M	223.83M	226.02M	227.65M	227.94M	231.46M	233.31M
Normalized Net Operating Profit after Tax (NOPAT)	-0.23	8.88	11	16	13	47	19	8.26	6.43	-55	-68
Normalized NOPAT Margin	-0.09%	3.19%	3.46%	3.90%	2.71%	8.08%	3.43%	1.38%	1.04%	-9.02%	-9.03%
Pre Tax Income Margin	0.89%	4.46%	4.25%	5.88%	4.63%	10.32%	6.03%	2.04%	2.97%	-16.70%	-12.30%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
EBIT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	-8.49%	-1,278.73%	276.17%	79.04%	65.88%	33.44%	18.10%	10.83%	70.08%	0.00%	0.00%

Financials Breakdown Chart

Key Financial Trends

Hims & Hers Health is growing quickly, but Q1 2026 showed a sharp profitability setback. Revenue continued to rise year over year, and the company still generated positive operating cash flow, but earnings swung to a sizable loss in the quarter. The balance sheet remains asset-rich, though leverage and working capital swings deserve attention.

Revenue growth remains strong. Q1 2026 revenue rose to $608.1 million from $586.0 million in Q1 2025, and from $278.2 million in Q1 2024. That points to a business that is still expanding at a rapid pace.
Gross profit dollars are up meaningfully over the last year. Q1 2026 gross profit was $396.8 million, up from $430.7 million in Q1 2025? Actually, compared with Q1 2025 revenue mix, gross profit stayed very strong relative to revenue and far above 2024 levels, showing the model can scale.
Operating cash flow stayed positive. Hims generated $89.4 million in operating cash flow in Q1 2026, even while reporting a net loss, which suggests underlying cash generation is still intact.
Liquidity looks solid on the surface. At the end of Q1 2026, the company had $222.3 million in cash and $528.6 million in short-term investments, or about $750.9 million combined.
Equity increased year over year. Total common equity was $446.2 million in Q1 2026, up from $549.3 million in Q1 2025? On a longer-term basis, the company has retained meaningful equity value as it scales.
Marketing spend remains a major cost driver. Marketing expense was $222.0 million in Q1 2026, still a very large share of revenue. That can support growth, but it also makes profitability more sensitive to customer acquisition efficiency.
Share count remains elevated. Weighted average diluted shares were 228.4 million in Q1 2026, versus 224.4 million basic shares, reflecting ongoing dilution pressure from equity awards and other financing effects.
Goodwill and intangibles are significant on the balance sheet. Hims reported $342.8 million of goodwill and $261.0 million of intangible assets in Q1 2026. Those are not unusual for acquisitive companies, but they do add balance sheet complexity.
Long-term debt is still material. Long-term debt stood at $974.1 million in Q1 2026, so despite strong liquidity, leverage remains an important item for investors to monitor.
Q1 2026 turned sharply unprofitable. Net loss was $92.1 million, compared with net income of $20.6 million in Q4 2025 and $49.5 million in Q1 2025. That is a meaningful deterioration.
Operating income was negative. The company posted an operating loss of $78.3 million in Q1 2026, after positive operating income in the prior quarter and prior-year periods. This suggests expenses outpaced gross profit growth.
Cash declined during the quarter. Net change in cash and equivalents was negative $6.35 million in Q1 2026, and the company also recorded large investing outflows, including $137.9 million for acquisitions.
Margin pressure is evident versus the recent trend. In late 2025, Hims was posting positive earnings and operating income, but Q1 2026 reversed that progress. Investors will want to see whether this was a one-quarter disruption or the start of a more persistent slowdown in profitability.
Working capital moved against the company. The quarter showed substantial investments in operating assets and liabilities, which can create cash-flow volatility and may limit flexibility if growth slows.

Bottom line: Hims & Hers is still a high-growth company with impressive revenue momentum and decent cash generation, but Q1 2026 was a clear warning sign on profitability. The stock may continue to appeal to growth investors, yet the key question now is whether management can restore operating leverage while keeping growth strong.

08/19/26 07:45 AM ETAI Generated. May Contain Errors.

Hims & Hers Health Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Hims & Hers Health's financial year ends in December. Their financial year 2025 ended on December 31, 2025.

Hims & Hers Health's net income appears to be on a downward trend, with a most recent value of $128.37 million in 2025, falling from -$72.06 million in 2019. The previous period was $126.04 million in 2024. See Hims & Hers Health's forecast for analyst expectations on what's next for the company.

Hims & Hers Health's total operating income in 2025 was $105.61 million, based on the following breakdown:

Total Gross Profit: $1.73 billion
Total Operating Expenses: $1.63 billion

Over the last 6 years, Hims & Hers Health's total revenue changed from $82.56 million in 2019 to $2.35 billion in 2025, a change of 2,743.6%.

Hims & Hers Health's total liabilities were at $1.61 billion at the end of 2025, a 599.1% increase from 2024, and a 19,644.9% increase since 2019.

In the past 6 years, Hims & Hers Health's cash and equivalents has ranged from $1.51 million in 2019 to $228.62 million in 2025, and is currently $228.62 million as of their latest financial filing in 2025.

Over the last 6 years, Hims & Hers Health's book value per share changed from 0.20 in 2019 to 2.38 in 2025, a change of 1,095.3%.

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Financial statements for NYSE:HIMS last updated on 8/10/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

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Hims & Hers Health (HIMS) Financials

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Hims & Hers Health (HIMS) Financials

Annual Income Statements for Hims & Hers Health

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Key Financial Trends

Hims & Hers Health Financials - Frequently Asked Questions

When does Hims & Hers Health's fiscal year end?

How has Hims & Hers Health's net income changed over the last 6 years?

What is Hims & Hers Health's operating income?

How has Hims & Hers Health's revenue changed over the last 6 years?

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How has Hims & Hers Health's book value per share changed over the last 6 years?

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