Hims & Hers Health, Inc. (NYSE: HIMS) is a San Francisco-based telehealth company founded in 2017. It offers a direct-to-consumer platform providing access to healthcare professionals and treatments for various conditions, including mental health, sexual wellness, dermatology, and weight management. The company operates under the brands “Hims” and “Hers,” catering to both men’s and women’s health needs. By leveraging technology, Hims & Hers aims to make healthcare more accessible and affordable. Its services are available in the United States and the United Kingdom.
In the first quarter of 2025, Hims & Hers reported revenue of $586.0 million, marking a 111% increase year-over-year.Net income rose to $49.5 million, or $0.20 per share, compared to $11.13 million, or $0.05 per share, in the same period the previous year. The company also reported an adjusted EBITDA of $91.1 million. For the second quarter of 2025, Hims & Hers expects revenue between $530 million and $550 million, with adjusted EBITDA ranging from $65 million to $75 million. The full-year 2025 revenue guidance is set between $2.3 billion and $2.4 billion, with adjusted EBITDA projected between $295 million and $335 million.
Hims & Hers was co-founded by Andrew Dudum, Hilary Coles, Jack Abraham, and Joe Spector in 2017. The company began as a men’s wellness brand offering treatments for hair loss and erectile dysfunction and later expanded to include women’s health, mental health services, and dermatology. Headquartered in San Francisco, California, Hims & Hers has raised approximately $197 million in funding from investors like Thrive Capital and 8VC.
The telehealth market, in which Hims & Hers operates, is experiencing significant growth. The global digital health market was valued at $288.55 billion in 2024 and is projected to reach $946.04 billion by 2030, growing at a CAGR of 22.2% . This growth is driven by increasing demand for remote healthcare services, advancements in technology, and a focus on cost-effective healthcare solutions.
In the United States, the telehealth market is also expanding rapidly. Factors such as increased smartphone penetration, improved internet connectivity, and supportive government initiatives are contributing to this growth. The U.S. telehealth market is expected to reach $94.14 billion by 2030, growing at a CAGR of 11.5% .
Hims & Hers faces competition from several companies in the telehealth space. Notable competitors include Ro, LifeMD, and Thirty Madison, all of which offer similar direct-to-consumer healthcare services. Additionally, traditional healthcare providers and pharmacies entering the telehealth market pose competitive challenges.
The company’s unique differentiation lies in its focus on personalized, affordable, and accessible healthcare solutions. By offering a wide range of services through a user-friendly platform, Hims & Hers aims to destigmatize health issues and provide convenient care options. Its recent partnership with Novo Nordisk to offer branded versions of the obesity drug Wegovy exemplifies its commitment to expanding treatment options for patients .
The management team at Hims & Hers includes Andrew Dudum as CEO, who co-founded the company and has been instrumental in its growth. Hilary Coles serves as SVP of Brand & Innovation, bringing a focus on product development and brand strategy. Recently, Nader Kabbani, a former Amazon executive, was appointed as COO to oversee operations and support the company’s expansion efforts.
Over the past five years, Hims & Hers has demonstrated strong financial performance. Revenue increased from $82.56 million in 2019 to $1.48 billion in 2024, representing a growth of 1,688.5% . The company achieved profitability in 2024, reporting a net income of $126 million and an adjusted EBITDA of $177 million . As of the end of 2024, Hims & Hers had no debt and held $300.3 million in cash and short-term investments.
Bull Case for HIMS Stock:
- Strong revenue growth and path to profitability indicate robust business fundamentals.
- Expansion into high-demand areas like weight management through partnerships with pharmaceutical companies.
- Significant growth potential in the rapidly expanding telehealth market.
Bear Case for HIMS Stock:
- Intensifying competition from both startups and established healthcare providers could pressure margins.
- Regulatory risks associated with offering compounded medications not approved by the FDA.
- Dependence on continued consumer adoption of telehealth services post-pandemic.
The long term chart is in a stage 2 reversal after a stage 4 breakdown and looks bullish. The daily chart is however showing a candlestick that is a dojo, which indicates buying exhaustion and should move lower with support in the $34 range.
This is a good longer term stock with the range of $25 – $30 being a good buying point again.