Hims & Hers Revenue Up 49% to $890 Million as FTC Fight Looms

Hims & Hers pulled in roughly $890 million in third-quarter revenue, a 49 percent jump from the same period last year — and it did so while fighting a federal lawsuit, a board probe, and roughly 4,800 consumer complaints. On Monday, the telehealth company paired that earnings news with another headline: Stanford neuroscientist and podcaster Andrew Huberman will join its board of directors.

The numbers behind the growth are straightforward. Subscriber count grew 13 percent year-over-year to nearly 2.8 million, according to the company's third-quarter earnings report. Average monthly revenue per subscriber climbed 30 percent to $105 a month — meaning each customer is now worth about $1,260 a year to the business, up from roughly $970 a year ago.

The geography of that growth splits sharply. Domestic revenue increased 21 percent. International revenue increased more than 300 percent — the clear growth engine this quarter, even if it's building from a smaller base.

The profitability picture is less flattering. Hims & Hers posted a net loss of $33 million for the quarter. The company also lowered its full-year adjusted EBITDA guidance to a range of $257 million to $277 million, a signal that management sees margin pressure ahead even as the top line accelerates.

What does the legal fight change for the business?

In July, the U.S. Federal Trade Commission sued Hims & Hers. The agency alleges the company shared users' health data with Meta and Snap Inc., charged customers for prescriptions before they met with a clinician, and made subscriptions difficult to cancel. The FTC says it has received roughly 4,800 complaints about the company over the past five years — an average of nearly two per business day.

For a telehealth operator, the stakes here go beyond fines. The FTC's allegations strike directly at the subscription mechanics and data handling that drive that $105-per-month revenue figure. If regulators force changes to how prescriptions are billed or how subscriptions cancel, the unit economics that powered this quarter's 49 percent growth would feel it first.

The scrutiny doesn't stop with the FTC. In August, plaintiffs' law firm Berger Montague announced an investigation into whether the company's board breached its fiduciary duties. Hims & Hers told Inc. at the time that it would "vigorously defend" itself against the claims.

Why Huberman's board seat matters

The Huberman appointment lands at a moment when the company faces explicit questions about consumer trust. He brings a large, health-focused audience and scientific credibility by association — assets that matter when regulators are questioning how you treat customer health data. He also joins a board that one law firm is actively probing for fiduciary breaches, which makes the hire as much a defensive move as a growth one.

The so-what for practitioners

Put the pieces together and the story is a company growing revenue nearly three times faster than its subscriber base — 49 percent revenue growth on 13 percent subscriber growth — while posting losses and cutting EBITDA guidance. That math works only if per-subscriber spending keeps climbing, and the FTC's case targets exactly the practices that push it up: upfront prescription charges and hard-to-cancel subscriptions.

The forward question is whether the growth model survives contact with regulators. A settlement or court loss on the FTC's data-sharing and cancellation claims would force Hims & Hers to rebuild its funnel economics. Until then, the company keeps posting record revenue — and its legal calendar fills faster than its subscriber rolls.