The telehealth sector is witnessing remarkable momentum, and Hims & Hers Health, Inc. is at the forefront of this surge. The California-based pioneer recently unveiled spectacular quarterly results that significantly outpaced projections. In a parallel development that captured market attention, the company hinted at a potential reconciliation with pharmaceutical titan Novo Nordisk, signaling a dramatic shift from their previously severed partnership.
Financial Performance Exceeds All Forecasts
The third-quarter 2025 financial report from Hims & Hers delivered powerful evidence of accelerating growth. Revenue reached approximately $600 million, representing a substantial 49 percent year-over-year increase. This performance not only surpassed the company’s own guidance, which had projected revenue between $570 million and $590 million, but also comfortably exceeded analyst expectations of $580 million.
User growth remained robust, with the subscriber base expanding by 21 percent to around 2.5 million members. Simultaneously, the company achieved a 19 percent increase in monthly revenue per user, which climbed to $80. Profitability metrics also impressed, as adjusted EBITDA soared to over $78 million, dramatically outperforming the provided forecast of $60 million to $70 million.
Strategic Pivot and Its Impact
A notable detail within the financials was a contraction in gross margin, which decreased from 79 percent to 74 percent compared to the prior year. Company leadership attributes this to a deliberate strategic shift. Hims & Hers is actively moving its focus away from generic, one-time treatments toward personalized, customized medication regimens. While this transition temporarily pressures profitability margins, the long-term objective is to significantly enhance customer loyalty and drive sustainable expansion.
Chief Executive Officer Andrew Dudum expressed strong confidence, stating that opportunities to accelerate the company’s development are materializing faster than initially anticipated. The firm’s ambitious 2030 targets remain unchanged: $6.5 billion in annual revenue and $1.3 billion in adjusted EBITDA.
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A Surprising Potential Partnership Revival
Perhaps the most significant news emerged during the earnings call with analysts. Management revealed that Hims & Hers is now engaged in “active discussions” with Novo Nordisk regarding the potential distribution of Wegovy injections through its digital platform. A prospective collaboration would also include the oral version of Wegovy, contingent upon its approval by the U.S. Food and Drug Administration (FDA).
This development is particularly striking because the two companies terminated their partnership earlier in 2025 amid disputes over compounding practices and marketing strategies. A renewed alliance would grant Hims & Hers access to one of the world’s most sought-after weight-management medications, unlocking further growth potential in this highly lucrative market. For its weight management segment alone, the company is targeting a minimum of $725 million in revenue for 2025.
Organizational and Service Expansion
Alongside its financial and partnership developments, Hims & Hers is strengthening its leadership team to support international growth initiatives. In early November, Chief Commercial Officer Mike Chi assumed the role of Chief Operating Officer. This transition followed his predecessor’s move into an advisory capacity focused on global strategy, a shift that came after the company’s acquisition of the UK-based health platform Zava.
The company is also systematically broadening its healthcare service offerings. Its expanding portfolio now includes testosterone therapies, menopause care, comprehensive wellness testing, and early cancer detection partnerships, positioning it as a comprehensive digital health provider.
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