Hims & Hers stock jumped 6% in post-market trading Monday after the company said it was in active discussions to make Wegovy injections and Novo Nordisk’s forthcoming obesity pill available through the company's online platform.
Novo Nordisk expects to launch an oral obesity drug in the U.S. next year, once the Food and Drug Administration approves it.
Hims & Hers said in a statement in its third-quarter financial results that "discussions are ongoing, no definitive agreement has been executed with Novo Nordisk, and there is a possibility that no definitive agreement may ever be executed with Novo Nordisk."
Back in June, the drugmaker abruptly ended a monthlong collaboration with Hims & Hers to make its weight loss drug Wegovy available on the telehealth company's platform. Novo Nordisk cited concerns about Hims & Hers selling and promoting knock-off compounded GLP-1 drugs, which are more affordable versions of the popular weight loss medications.
"Generally, I think breadth and assortment and choice for patients is the winning formula. So we're excited to be able to reengage with Novo about the oral pill that is hopefully to be FDA approved as well as the commercial dosing," Andrew Dudum, co-founder and CEO of Hims & Hers, told investors during the company's third-quarter earnings call Monday. "I think they and others will have more and more innovation coming. There's also, obviously, advancements in biotech that are in phase two and phase three trials that have next-generation GLP-1, GIP dual and triagonists."
Talks about a partnership deal with Novo Nordisk "clears months of uncertainty around the partnership and opens a clearer path for Hims’ weight loss vertical, one of the company’s core growth drivers," Ethan Feller, stock strategist at Zacks Investment Research, said in written commentary.
Hims & Hers' weight loss business continues to be a major focus for the company, and that segment is on pace to bring in $725 million in revenue in 2025, Yemi Okupe, Hims & Hers' chief financial officer, said.
The company plans to continue expanding its weight loss treatment options, Dudum said.
"You'll see us continue to pursue a wide range of treatments here. I think generally it's inevitable that partnerships like this where we are the largest consumer distribution platform in healthcare, and others are the best in bringing new therapeutic innovations to market, those types of companies should be working together. I think you're going to see more of that in the ecosystem," he said.
Hims & Hers continues to sell compounded semaglutide, the active ingredient in Novo’s Wegovy and Ozempic drugs, and these generic versions are more affordable than the branded drugs. The company also recently rolled out compounded GLP-1 microdosing treatment plans.
Dudum said the company "strategically reduced prices across compounded GLP-1 treatment plans by as much as 20%" to make the treatments more accessible to a broader population.
"Most recently, with the addition of microdosing options for compounded semaglutide treatments, it's allowing us to deliver what we believe is the most high-touch, patient-centric experience in the market. And as we help more customers find the right treatment and support providers in evolving patient care, we're continuing to strengthen that leadership position. Put simply, we're making it easier for more customers to start, stay on, and succeed in their own weight loss journey," Dudum said.
Hims & Hers is a multispecialty telehealth platform that connects consumers to medical care for numerous conditions related to mental health, sexual health, dermatology and primary care. The company expanded into weight loss in late 2023 with oral medication kits and added compounded GLP-1 medications to its offerings last May.
The company's third-quarter revenue jumped 49% year over year to hit $599 million, beating Wall Street estimates of $580 million, according to FactSet. The company brought in net income of nearly $15.8 million, or earnings per share of 6 cents, below Wall Street expectations of 9 cents per share.
During the same period a year ago, the company brought in $401.6 million in revenue alongside a net income of $75.6 million.
The company also reported adjusted EBITDA of $78.4 million in the third quarter, up 53% year over year.
Hims & Hers' subscribers grew to more than 2.5 million, up 21% year over year. The number of subscribers using personalized solutions grew 50% year over year in the third quarter of 2025, Dudum said.
The company narrowed its full-year revenue guidance to a range of $2.335 billion to $2.355 billion and adjusted EBITDA guidance to $307 million to $317 million.
Hims & Hers continues to expand its personalized healthcare services and offerings with plans to launch comprehensive whole-body lab testing before year-end, Dudum told investors. "By scaling capabilities like blood testing, we're thrilled to help more customers affordably access the insights they need to monitor, maintain and improve their overall health," he said.
"We envision these capabilities empowering consumers to proactively address health concerns such as vitamin deficiencies, un-optimized hormonal levels and genetic risk factors, while also identifying early indicators of more serious conditions like cancer and cardiovascular disease," he said. "Historically, people have come to us to manage existing conditions. Soon, we'll help them take a more proactive role in managing their health, and in doing so, can potentially impact millions of lives."
The company's goal is to "help identify and manage risks associated with heart disease, metabolic disorders, neurodegenerative diseases, and cancer long before symptoms appear," he noted.
Hims & Hers also plans to launch a longevity specialty in 2026. "We plan to scale the specialty to feature a broad range of therapies in addition to our new testing options," to include peptides, coenzymes, GLP and GIP treatments designed to improve performance, recovery and cardiometabolic longevity markers, Dudum said.
"Each of these initiatives is part of a broader effort to make advanced diagnostics and the care that follows more accessible. Through investments and, when appropriate, partnerships, we expect this type of care, which has historically been accessible only to a small affluent subset of the population, to be available to each of our customers," he said.
The company has launched new treatment programs for low testosterone and menopause that will "unlock significant long-term growth opportunities and increase our ability to deepen relationships with existing subscribers while expanding access to care for millions more," Dudum noted.
Hims & Hers will continue exploring opportunities to collaborate with partners, executives said. "The curation of leading next generation therapies, advancements in early diagnostics, and even personalization based on whole-genome sequencing is of top focus for potential partnerships," executives said in a press release.
Feller with Zacks Investment Research viewed the third-quarter results as positive momentum for the company.
"Following a sharp selloff this summer, tied to the first deceleration in sales growth in company history, Hims shares have stabilized, trading in a wide range over recent months. The latest results reaffirm that growth remains strong and that new verticals, such as weight loss, hormonal health, diagnostics, and international markets, are expanding the company’s total addressable market," Feller said.