Hims & Hers Health Reports 49% Q3 Revenue Growth Amid Novo Nordisk Talks

Hims & Hers Health, Inc. reported strong financial results for Q3 2025, with revenue increasing 49% year-over-year to nearly $600 million and adjusted EBITDA rising 53% to $78.4 million, surpassing analysts' expectations. The company grew its subscriber base by 21% to almost 2.5 million, with monthly online revenue per subscriber up 19% to $80, driven by the expansion of personalized care offerings, including new weight-loss treatments. Hims & Hers is actively negotiating with Novo Nordisk to offer Wegovy injections and potentially an oral formulation on its platform, which has fueled investor optimism and a stock price increase in after-hours trading. Despite a decline in gross margin due to higher production costs and shipping changes, the company maintains a positive outlook, aiming for $6.5 billion in revenue by 2030 and narrowing its 2025 revenue guidance to $2.335–2.355 billion. The company also launched compounded GLP-1 microdosing treatments for weight management, enhancing its obesity drug portfolio. Overall, Hims & Hers is balancing rapid growth with strategic investments to broaden its healthcare services globally while maintaining profitability and a strong balance sheet.