$HIMS

Hims & Hers Health, Inc.

CIK:0001773751|SEC Filings

Condensed Consolidated Statements of Operations and Comprehensive (Loss) Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Income Statement [Abstract]
Revenue	$ 753,214	$ 544,833	$ 1,361,318	$ 1,130,843
Cost of revenue	272,411	128,637	483,728	283,958
Gross profit	480,803	416,196	877,590	846,885
Operating expenses:
Marketing	262,236	217,862	484,239	449,097
Operations and support	95,481	66,490	191,984	129,523
Technology and development	54,901	37,848	101,837	67,762
General and administrative	165,377	67,273	275,045	115,883
Total operating expenses	577,995	389,473	1,053,105	762,265
(Loss) income from operations	(97,192)	26,723	(175,515)	84,620
Other income (expense):
Change in fair value of equity securities	4,737	0	(4,945)	0
Change in fair value of liabilities	(4,223)	0	(21,869)	0
Other income, net	4,045	6,130	8,145	8,728
Total other income (expense), net	4,559	6,130	(18,669)	8,728
(Loss) income before income taxes	(92,633)	32,853	(194,184)	93,348
Benefit from (provision for) income taxes	6,343	9,652	15,779	(1,358)
Net (loss) income	(86,290)	42,505	(178,405)	91,990
Other comprehensive (loss) income	(41,632)	986	(48,331)	1,146
Total comprehensive (loss) income	$ (127,922)	$ 43,491	$ (226,736)	$ 93,136
Net (loss) income per share attributable to common stockholders, Class A and Class V:
Basic (in dollars per share)	$ (0.37)	$ 0.19	$ (0.78)	$ 0.41
Diluted (in dollars per share)	$ (0.37)	$ 0.17	$ (0.78)	$ 0.37
Weighted average shares outstanding, Class A and Class V:
Basic (in shares)	231,746,126	224,373,375	230,061,076	223,187,936
Diluted (in shares)	231,746,126	256,779,292	230,061,076	251,894,929

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	3 Months Ended				6 Months Ended		12 Months Ended
	Jun. 30, 2026	Mar. 31, 2026	Jun. 30, 2025	Mar. 31, 2025	Jun. 30, 2026	Jun. 30, 2025	Dec. 31, 2025
Operating activities
Net (loss) income	$ (86,290)	$ (92,115)	$ 42,505	$ 49,485	$ (178,405)	$ 91,990
Adjustments to reconcile net (loss) income to net cash provided by operating activities:
Depreciation and amortization					51,430	18,741
Stock-based compensation					78,978	60,584
Change in fair value of equity securities	(4,737)		0		4,945	0	$ (4,400)
Change in fair value of liabilities					21,869	0
Net accretion on securities					(338)	(1,060)
Benefit from deferred taxes					(23,338)	(10,346)
Impairment of long-lived assets					1,148	0
Amortization of debt discount and issuance costs					3,656	1,047
Non-cash operating lease cost					9,482	4,594
Non-cash acquisition-related costs					21,311	2,985
Non-cash restructuring and other related charges included within cost of revenue					28,462	0
Non-cash other					2,511	(1,315)
Changes in operating assets and liabilities:
Receivables, net					(328,987)	(654)
Inventory					(14,255)	(77,373)
Prepaid expenses and other current assets					80	(37,427)
Other long-term assets					(30,553)	(10)
Accounts payable					323,795	5,146
Accrued liabilities					89,526	11,737
Deferred revenue					2,960	23,132
Earn-out consideration					(7,058)	0
Deferred acquisition payable					472	0
Other long-term liabilities					620	0
Operating lease liabilities					(4,894)	(1,798)
Net cash provided by operating activities					53,417	89,973
Investing activities
Maturities of available-for-sale investments					116,232	60,569
Proceeds from sales of available-for-sale investments					350,762	0
Purchases of property, equipment, and intangible assets					(55,770)	(101,392)
Investment in website development and internal-use software					(12,808)	(7,961)
Acquisition of businesses, net of cash acquired					(318,108)	(5,100)
Purchases of equity securities					(11,217)	0
Net cash provided by (used in) investing activities					69,091	(53,884)
Financing activities
Proceeds from issuance of convertible senior notes, net of debt discount					390,425	970,000
Purchases of capped calls related to convertible senior notes					(36,748)	(47,800)
Proceeds from exercise of vested stock options					13,030	6,497
Payments for taxes related to net share settlement of equity awards					(62,324)	(62,475)
Proceeds from employee stock purchase plan					3,846	2,970
Payments for acquisition-related earn-out consideration					(43,682)	0
Payments for debt issuance costs					(671)	(3,041)
Net cash provided by financing activities					263,876	866,151
Foreign currency effect on cash and cash equivalents					(5,189)	1,270
Increase in cash, cash equivalents, and restricted cash					381,195	903,510
Cash, cash equivalents, and restricted cash at beginning of period		$ 228,616		$ 221,440	228,616	221,440	221,440
Cash, cash equivalents, and restricted cash at end of period	609,811		1,124,950		609,811	1,124,950	228,616
Reconciliation of cash, cash equivalents, and restricted cash
Cash and cash equivalents	609,811		1,124,582		609,811	1,124,582	228,616
Restricted cash	0		368		0	368
Total cash, cash equivalents, and restricted cash	$ 609,811		$ 1,124,950		609,811	1,124,950	$ 228,616
Supplemental disclosures of cash flow information
Cash (received) paid for taxes, net of refunds					(2,663)	23,047
Cash paid for interest					1,735	0
Non-cash investing and financing activities
Purchases of property, equipment, and intangible assets included in accounts payable and accrued liabilities					16,666	16,954
Right-of-use asset obtained in exchange for lease liability					25,681	63,434
Contingent and deferred consideration and liabilities assumed in connection with acquisition of businesses					886,287	0
Deferred debt issuance costs included in accounts payable and accrued liabilities					0	249
Issuance of common stock in connection with asset acquisition					0	12,760
Common stock to be issued for asset acquisition indemnification holdback					$ 0	$ 6,380

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Current assets:
Cash and cash equivalents	$ 609,811	$ 228,616
Short-term available-for-sale investments	231,237	348,876
Receivables, net	375,291	32,149
Inventory	87,781	80,128
Prepaid expenses and other current assets	80,493	77,869
Total current assets	1,384,613	767,638
Long-term available-for-sale investments:	0	351,263
Goodwill	1,101,720	278,325
Property, equipment, and software, net	364,215	311,930
Intangible assets, net	422,809	196,116
Operating lease right-of-use assets	165,565	137,046
Deferred tax assets, net	111,578	82,707
Other long-term assets	78,314	29,680
Total assets	3,628,814	2,154,705
Current liabilities:
Accounts payable	501,297	143,278
Accrued liabilities	210,255	77,039
Deferred revenue	141,384	127,160
Deferred acquisition payable	537,381	1,479
Earn-out consideration	81,364	50,632
Operating lease liabilities	11,551	4,843
Total current liabilities	1,483,232	404,431
Convertible senior notes, net	1,365,299	972,580
Operating lease liabilities	169,389	143,167
Deferred acquisition payable	165,624	5,484
Earn-out consideration	81,600	53,009
Deferred tax liabilities, net	30,934	28,856
Other long-term liabilities	8,664	6,250
Total liabilities	3,304,742	1,613,777
Commitments and contingencies
Stockholders' equity:
Common stock – Class A shares, par value $0.0001, 2,750,000,000 shares authorized and 224,920,310 and 218,867,898 shares issued and outstanding as of June 30, 2026 and December 31, 2025, respectively; Class V shares, par value $0.0001, 10,000,000 shares authorized and 8,377,623 shares issued and outstanding as of June 30, 2026 and December 31, 2025	23	23
Additional paid-in capital	662,263	652,383
Accumulated other comprehensive (loss) income	(46,037)	2,294
Accumulated deficit	(292,177)	(113,772)
Total stockholders' equity	324,072	540,928
Total liabilities and stockholders' equity	$ 3,628,814	$ 2,154,705