We are focused on a simple, but significant, goal at Hims & Hers: making more people feel great.
In a world where better outcomes aren’t the ultimate measure of success for many legacy healthcare companies, it feels nearly impossible. It’s why more than 2.5M subscribers depend on us for a new kind of experience, where they’re treated like a person, instead of a patient.
When you put people at the center of health, more people want to engage. Here’s how we’re thinking about last year’s progress and what is coming next:
Our platform is strong and continuing to expand the ways we can serve customers. Hers revenue grew more than 100% year-over-year, and is expected to eclipse $1B in revenue this year. Hims revenue grew nearly 30% year-over-year. That success is allowing us to move faster: we launched 3 new offerings (testosterone, menopause, Labs) in 3 months that are already showing success. We believe our proposed acquisition of Eucalyptus will make us a global leader in consumer health, with the ability to reach $1B in international annual revenue by 2030. From new markets to new offerings, we’re creating more ways for more people to access more personal care.
At the end of 2025, we were helping more than 2.5M subscribers find care across all specialties. Since our founding, people have pigeon-holed us based on specific categories. We’ve been known as a hair loss company. An ED company. Today, some people think of us as a GLP-1 company. The reality is that only a small minority of our subscribers are using a compounded GLP-1 treatment. While the cultural conversation changes over time, our value to customers remains the same. Before ever scaling our Weight Loss specialty, we built a beloved consumer platform that had surpassed $1B in revenue and achieved profitability by making it easy to access high-quality care in sexual health and dermatology. Weight loss simply demonstrates the power of our model when applied to a specialty that impacts millions – and that power is what defines our platform.
We see a reality where people benefit from innovations in diagnostics, wearables and data. Where AI uses that data to define and refine treatments and support clinical guidance. And a verticalized infrastructure that delivers personalized treatments. The first two pillars – deeper data and stronger technology – are advancing across the industry. That demands the third pillar: a scalable way to make the final step in healthcare more precise and more personal. We’re investing in our capabilities in all three. Labs and YourBio can make insights more accessible. Early tests with AI-supported proactive outreach on the platform show a 50% increase in daily weight logging frequency. And in the last several years, we’ve invested over $300M in our facilities, which now include lab testing capabilities, R&D and over 1M square feet of pharmacy operations.
Consumer health is not a trend and it’s not just a channel. It’s the direction the industry must go in order to make it possible for more people to get (and stay) healthy.
We’re proud to be leading that charge.
Cautionary Note Regarding Forward-Looking Statements
This post includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements can be identified by the use of forward-looking terminology, including the words “believes,” “estimates,” “anticipates,” “expects,” “intends,” “plans,” “assume,” “may,” “will,” “likely,” “potential,” “projects,” “predicts,” “continue,” “goal,” “strategy,” “future,” “forecast,” “target,” “outlook,” “opportunity,” “project,” “confidence,” “foundation,” “groundwork,” or “should,” or, in each case, their negative or other variations or comparable terminology. There can be no assurance that actual results will not materially differ from expectations. Such statements include, but are not limited to, any statements relating to our financial outlook and guidance, including our mission to drive top-line revenue growth and profitability and our ability to attain our 2026, and long-term financial and operational targets; our expected future financial and business performance, including with respect to the Hims & Hers platform, our marketing campaigns, investments in innovation, the solutions accessible on our platform, the markets accessible on our platform, and our infrastructure, and the underlying assumptions with respect to the foregoing; potential strategic investments, partnerships, or collaborations, and the expected timing or outcome of any such investments, partnerships, or collaborations; statements relating to events and trends relevant to us, including with respect to our regulatory environment, financial condition, results of operations, short- and long-term business operations, objectives, strategy, and financial needs; expectations regarding our mobile applications, market acceptance, user experience, customer retention, brand development, our ability to invest and generate a return on any such investment, customer acquisition costs, operating efficiencies and leverage (including our fulfillment capabilities), the effect of any pricing decisions; changes in our product or offering mix, and the timing and market acceptance of any new products or offerings; the timing and anticipated effect of any pending or recently completed acquisitions; the success and utility of our business model; our market opportunity; our ability to scale our business and expand internationally; the growth of certain of our specialties; our ability to innovate on and expand the scope of our offerings and experiences, including through the use of diagnostics, data analytics and artificial intelligence; our ability to reinvest into the customer experience; and our ability to comply with the extensive, complex and evolving legal and regulatory requirements applicable to our business, including without limitation state and federal healthcare, privacy and consumer protection laws and regulations, and the effect or outcome of litigation or governmental actions or statements in relation to any such legal and regulatory requirements. These statements are based on management’s current expectations, but actual results may differ materially due to various factors.
Forward-looking statements are neither historical facts nor assurances of future performance. Instead, the forward-looking statements contained in this letter are based on our current expectations, assumptions and beliefs concerning future developments and their potential effects on us. Future developments affecting us may not be those that we have anticipated. These forward-looking statements involve a number of risks, uncertainties (some of which are beyond our control) and other assumptions that may cause actual results or performance to be materially different from those expressed or implied by these forward-looking statements. These risks and uncertainties include, but are not limited to, those factors described in the Risk Factors and other sections of our most recently filed Quarterly Report on Form 10-Q, our most recently filed Annual Report on Form 10-K, and other current and periodic reports we file from time to time with the Securities and Exchange Commission (the “Commission”).
Should one or more of these risks or uncertainties materialize, or should any of our assumptions prove incorrect, actual results may vary in material respects from those projected in these forward-looking statements. The forward-looking statements contained in this letter are made only as of February 23, 2026. We undertake no obligation (and expressly disclaim any obligation) to update or revise any forward-looking statements, or to update the reasons actual results could differ materially from those anticipated in the forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws. By their nature, forward-looking statements involve risks and uncertainties because they relate to events and depend on circumstances that may or may not occur in the future. We caution you that forward-looking statements are not guarantees of future performance and that our actual results of operations, financial condition and liquidity, and developments in the industry in which we operate may differ materially from those made in or suggested by the forward-looking statements contained in reports we have filed or will file with the Commission, including our most recently filed Quarterly Report on Form 10-Q, our most recently filed Annual Report on Form 10-K, and other current and periodic reports we file from time to time. In addition, even if our results of operations, financial condition and liquidity, and developments in the industry in which we operate are consistent with the forward-looking statements contained in such reports, those results or developments may not be indicative of results or developments in subsequent periods.
We include statements and information in this letter concerning our industry and the markets in which we operate, including our market opportunity, which are based on information from independent industry organizations and other third-party sources (including industry publications, surveys and forecasts). While we believe these third-party sources to be reliable as of the date of this letter, we have not independently verified any third-party information and such information is inherently imprecise.
