Hims & Hers Reports Stellar Q1 Results, Expands Weight Loss Offerings with Novo Nordisk Partnership

Hims & Hers Health, Inc., the multispecialty telehealth platform, has reported a remarkable first quarter for 2025, with revenue doubling year-over-year to $586 million. The company's growth trajectory has been bolstered by its expanding weight loss business and a new partnership with pharmaceutical giant Novo Nordisk.

Financial Performance and Subscriber Growth

Hims & Hers saw its quarterly profit soar to $50 million, a fourfold increase compared to the $11 million reported in the same quarter last year. Earnings per share reached 20 cents, while adjusted EBITDA climbed to $91.1 million, up from $32.3 million in Q1 2024.

The company's subscriber base grew by 38% year-over-year, reaching 2.37 million. However, this fell slightly short of analysts' expectations of 2.42 million subscribers for the quarter.

Despite the strong performance, Hims & Hers' shares experienced a dip in after-hours trading due to second-quarter projections falling short of Wall Street expectations. The company forecasts Q2 revenue between $530 million and $550 million, below the $564 million analysts were anticipating.

Expansion of Weight Loss Offerings and Novo Nordisk Partnership

In a significant development, Hims & Hers announced a partnership with Novo Nordisk to expand access to the blockbuster weight loss drug Wegovy. This collaboration will allow patients to access branded Wegovy at a discount through the company's online pharmacy, NovoCare Pharmacy, directly via the Hims & Hers telehealth platform.

CEO Andrew Dudum highlighted the importance of this partnership, stating, "Now through our new collaboration with Novo Nordisk, we're expanding access to branded Wegovy to bring subscribers on our platform an even broader range of choice. Branded Wegovy will be an additional option for subscribers, and will complement our oral kits, offering liraglutide and personalized semaglutide options."

The weight loss segment has rapidly become one of Hims & Hers' largest specialties in just 18 months. The company had previously expanded its offerings to include oral medication kits and compounded GLP-1 medications. Following the FDA's decision to end the semaglutide shortage, Hims & Hers transitioned away from compounded GLP-1 prescriptions and began selling a generic version of Novo Nordisk's diabetes drug, liraglutide.

Future Growth Strategy and Leadership Changes

Hims & Hers has outlined ambitious long-term financial objectives, projecting $6.5 billion in revenue and $1.3 billion in adjusted EBITDA by 2030. The company's growth strategy focuses on five core drivers, including doubling down on personalized solutions and expanding into new specialties such as low testosterone and menopause support.

To support its expansion plans, Hims & Hers announced the appointment of former Amazon executive Nader Kabbani as Chief Operations Officer. Kabbani brings nearly two decades of experience from Amazon, where he led the acquisition of PillPack and the launch of Amazon Pharmacy.

As Hims & Hers continues to reshape the healthcare landscape, CEO Dudum emphasized the company's vision: "We're delivering on our long health vision—healthcare that's convenient, affordable, transparent and deeply personalized. As we continue to execute, we see clear signs that our vision is resonating with more people than ever around the world."