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Hims & Hers Reaffirms Growth Targets After Record Q1 Performance and Convertible Note Offering

The telehealth company reported 111% revenue growth, raised $870 million for expansion, and maintained its $6.5 billion 2030 revenue goal.

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Overview

  • Hims & Hers posted Q1 2025 revenue of $586 million, up 111% year-over-year, with 38% growth in its subscriber base to 2.4 million.
  • The company reported significant profitability gains, including a 345% increase in net income and a 321% surge in free cash flow.
  • An $870 million convertible note offering was announced to fund international expansion and strategic initiatives, with capped call features to mitigate dilution.
  • Despite a cautious Q2 revenue forecast, Hims & Hers reaffirmed its full-year guidance and its long-term goal of $6.5 billion in annual revenue by 2030.
  • Strategic pharmaceutical partnerships, including a tie-up with Novo Nordisk to offer Wegovy, are expected to drive future growth and subscriber monetization.