Hims & Hers Health, Inc. financial statements

Income statement, balance sheet and cash flow statement for the last 7 fiscal years, taken from the XBRL data Hims & Hers Health, Inc. files with the SEC in its annual reports.

In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	82.6	149	272	527	872	1,477	2,348
Cost of revenue	38	39.3	67.4	118	157	303	614
Gross profit	44.6	109	204	409	715	1,173	1,733
Selling, general and administrative	55.9	65.6	184
General and administrative		26	114	98.2	130	168	273
Operating expenses	119	125	320	477	744	1,111	1,628
Operating income	-74.4	-15.1	-115	-68.7	-29.5	61.9	106
Interest expense	0.37	0.01	0
Interest income		3
Other non-operating income	2.44	-2.84	4.25	2.99	7.88	9.81	18.3
Pre-tax income	-72	-18	-111	-65.7	-21.6	71.7	124
Income tax	0.09	0.13	-3.14	-0.03	1.98	-54.3	-4.44
Net income	-72.1	-18.1	-108	-65.7	-23.5	126	128
EBITDA	-74.2	-14.1	-111	-61.2	-19.9	79	160
EPS, basic	-2.07	-0.51	-0.58	-0.32	-0.11	0.58	0.57
EPS, diluted	-2.07	-0.51	-0.58	-0.32	-0.11	0.53	0.51
Shares, basic (weighted)	34.8	35.4	187	205	209	216	225
Shares, diluted (weighted)	34.8	35.4	187	205	209	237	258

Balance sheet

	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cash and equivalents	1.51	27.3	71.8	46.8	96.7	221	229
Short-term investments		72.9	175	133	124	79.7	349
Receivables		1.1	4.1	3.9	6.7	6.1	32.1
Inventory		3.54	13.6	21.6	22.5	64.4	80.1
Other current assets	0.15	1.96	0.89	1.79	4.2	0.4	4.37
Total current assets	1.66	113	270	217	265	396	768
Property, plant and equipment		1.7	2.2	3
Lease right-of-use assets		0	5.11	4.94	9.59	10.9	137
Goodwill		0	111	111	111	113	278
Intangible assets		0.06	25.9	21.8	18.6	43.4	196
Long-term investments						0	351
Other non-current assets		4.55	7.94	0.03	0.09	0.15	29.7
Total assets	205	119	421	366	441	708	2,155
Accounts payable	0.02	8.07	19.6	32.4	43.1	91.2	143
Accrued liabilities	0.48	4.98	12.2	12.4	29	53	77
Deferred revenue		1.27	3.19	1.47	7.73	75.3	127
Total current liabilities	0.98	15.2	79.2	47.9	88.5	221	404
Lease liabilities		0	4.12	3.65	8.67	9.46	143
Other non-current liabilities		0.38	0.63	0.04	0.02	0	6.25
Total liabilities	8.17	15.6	86	54.6	97.2	231	1,614
Paid-in capital	3.85	6.9	614	657	712	719	652
Retained earnings	1.15	-171	-279	-345	-368	-242	-114
Other comprehensive income		-0.01	-0.14	-0.28	-0.12	-0.32	2.29
Shareholders' equity	-140	-147	335	312	344	477	541
Total equity	-140	-147	335	312	344	477	541
Total liabilities and equity	205	119	421	366	441	708	2,155

Cash flow statement

	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Net income	-72.1	-18.1	-108	-65.7	-23.5	126	128
Depreciation and amortization	0.26	1.06	4.08	7.47	9.52	17.1	54.5
Stock-based compensation	8.03	5.83	67.2	42.8	66.1	92.3	135
Deferred income tax	0	0	-3.39	-0.59	-0.01	-61.6	-13
Change in inventory	-0.52	0.67	-9.63	-8	-0.9	-41.6	-13.7
Change in payables	-6.08	0.83	9.85	12.7	7.32	43.7	30.3
Cash from operations	-74.9	-2.48	-34.4	-26.5	73.5	251	300
Capital expenditures				-7.2	-26.5	-52.8	-243
Acquisitions	0	0	-46.5	0	0	-15.4	-145
Purchases of investments	-42	-95	-267	-188	-157	-161	-726
Sales and maturities of investments	4.5	48	158	194	170	209	109
Cash from investing	-39.3	-39.7	-156	34.7	-12.1	-19	-1,025
Debt issued	2.14	0	0		0	0	970
Debt repaid	-9.05	-1.52	0	0
Stock issued					2.32	26.7	11
Share buybacks	0	0	0	0	-2	-83	-90
Cash from financing	95.3	47.7	235	-33.1	-11.5	-108	730
Exchange rate effect	-0.01	-0.01	-0.07	-0.05	-0.01	-0.27	2.51
Net change in cash	-18.9	5.55	44.3	-25	49.9	124	7.18
Free cash flow				-33.7	47	198	57.4
Interest paid	0.36	0.01	0	0
Income taxes paid	0.14	0.22	0.34	0.64	1.1	7.9	23.2

Key metrics

Worked out from the statements above. Latest values use the trailing twelve months to June 30, 2026; growth uses fiscal years. Valuation uses the share price of $29.42 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Gross margin	68.4%	Gross profit / revenue.
Operating margin	-6.0%	Operating income / revenue.
EBITDA margin	-2.6%	EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin	-6.3%	Pre-tax income / revenue.
Net margin	-5.5%	Net income / revenue.
FCF margin	2.4%	Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin	10.2%	Cash from operations / revenue.
Return on equity (ROE)	-43.8%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	-3.9%	Net income / average total assets.
Stock-based pay / revenue	6.0%	Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue	7.8%	Capital expenditures / revenue.
D&A / revenue	3.4%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	59.0%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	64.5%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	73.6%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y	47.8%	Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y	61.9%	Compound annual growth of gross profit over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Gross profit CAGR, 5y	73.8%	Compound annual growth of gross profit over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating income growth, 1y	70.6%	Operating income vs the same period a year earlier. Only from a positive base.
EBITDA growth, 1y	102.7%	EBITDA vs the same period a year earlier. Only from a positive base.
Net income growth, 1y	1.8%	Net income vs the same period a year earlier. Only from a positive base.
EPS growth, 1y	-3.8%	EPS vs the same period a year earlier. Only from a positive base.
Operating cash flow growth, 1y	19.5%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Free cash flow growth, 1y	-71.0%	Free cash flow vs the same period a year earlier. Only from a positive base.
Book value growth, 1y	13.5%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	20.2%	Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets growth, 1y	204.5%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	80.5%	Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y	78.6%	Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y	9.0%	Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y	8.1%	Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y	48.8%	Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.

Balance sheet health

Metric	Value	How it is calculated
Current ratio	0.93x	Current assets / current liabilities.
Quick ratio	0.82x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	0.57x	(Cash + short-term investments) / current liabilities.
Liabilities / assets	91.1%	Total liabilities / total assets.
Working capital	-$98.6M	Current assets - current liabilities.
Goodwill and intangibles / assets	42.0%	(Goodwill + intangible assets) / total assets.
Tangible book value	-$1.20B	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	0.71x	Revenue / average total assets.
Inventory turnover	9.27x	Cost of revenue / average inventory.
Days inventory	39 days	365 x average inventory / cost of revenue.
Receivables turnover	6.87x	Revenue / average receivables.
Days sales outstanding	53 days	365 x average receivables / revenue.
Days payables	225 days	365 x average accounts payable / cost of revenue.
Cash conversion cycle	-132 days	Days inventory + days sales outstanding - days payables.
Capex / operating cash flow	76.6%	Capital expenditures / cash from operations, when that is positive.

Per share

Metric	Value	How it is calculated
EPS, diluted	-$0.61	Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
Revenue per share	$11.12	Revenue / diluted weighted shares.
FCF per share	$0.27	Free cash flow / diluted weighted shares.
Operating cash flow per share	$1.14	Cash from operations / diluted weighted shares.
Book value per share	$1.40	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	-$5.18	Tangible book value / shares outstanding.
Cash per share	$3.63	(Cash + short-term investments) / shares outstanding.

Valuation

Metric	Value	How it is calculated
Market cap	$6.86B	Share price x shares outstanding.
Enterprise value	$6.02B	Market cap + total debt - cash - short-term investments.
P/S	2.66x	Market cap / revenue.
P/B	21.2x	Market cap / shareholders' equity. Only when equity is positive.
P/FCF	112x	Market cap / free cash flow. Only when free cash flow is positive.
P/OCF	26.1x	Market cap / cash from operations, when positive.
EV/Sales	2.34x	Enterprise value / revenue.
EV/FCF	97.9x	Enterprise value / free cash flow, when both are positive.
FCF yield	0.9%	Free cash flow / market cap.
Earnings yield	-2.1%	Net income / market cap (the inverse of P/E).

What was Hims & Hers Health, Inc.'s revenue in fiscal 2025?

Hims & Hers Health, Inc. reported revenue of $2.35B for fiscal 2025, 59% higher than the year before.

Was Hims & Hers Health, Inc. profitable in fiscal 2025?

Yes. Net income was $128.4M, a net margin of 5.5%.

How much free cash flow did Hims & Hers Health, Inc. generate in fiscal 2025?

Cash from operations of $300.0M minus capital expenditures of $242.6M left free cash flow of $57.4M.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

Open interactive statements, quarterly figures and charts

Back to Hims & Hers Health, Inc.