Hims & Hers Health (HIMS) is expected to report its first-quarter (Mar) earnings on May 1, 2025, after the market close (date assumed; verify via HIMS’ investor relations). A conference call is scheduled for 17:00 ET.

Q1 FactSet consensus expects EPS of $0.05 (versus -$0.05 last year, +200% yr/yr) on revenue of $315.2 mln (+35.9% yr/yr).

In its Q4 call, HIMS projected Q1 revenue of $310-$320 mln, driven by subscriber growth and telehealth expansion. The company targeted Q1 adjusted EBITDA of ~$20 mln.

Focus areas include subscriber additions, particularly in men’s wellness and mental health, and profitability trends. Tariff impacts are minimal, but updates on supply chain for compounded GLP-1 drugs will be watched.

The Street expects:

  • Subscribers: ~1.85 mln (vs. 1.46 mln last year, +26.7%)

  • Average Revenue Per Subscriber: ~$170 (vs. $160 last year, +6.3%)

  • Adjusted EBITDA: ~$22 mln (vs. $5 mln last year, +340%)

  • Online Revenue: ~$280 mln (vs. $210 mln last year, +33.3%)
    HIMS may provide Q2 guidance. FactSet’s Q2 estimates are EPS of $0.07 and revenue of $350.1 mln.

TECHS:

HIMS has a $4.8 bln valuation and trades at 50 times FY25 earnings.

Based on the weekly HIMS Weekly May02 $25.0 straddle, the options market is pricing in a move of ~12% in either direction by weekly expiration (Friday).

Related companies: Teladoc (TDOC), GoodRx (GDRX), Eli Lilly (LLY)

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