Financial Data and Key Metrics Changes - In Q4 2025, revenue reached $618 million, a year-over-year growth of 28% [25] - For the full fiscal year 2025, revenue was $2.35 billion, representing a 59% year-over-year growth [25] - Adjusted EBITDA for 2025 increased nearly 80% year-over-year to $318 million, with an adjusted EBITDA margin of 14% [30] - Net income for the full year increased to $128 million compared to the previous year [33] Business Line Data and Key Metrics Changes - The Hims brand in the U.S. saw over 30% year-over-year revenue growth in 2025, despite a pivot away from generic sexual solutions [26] - The Hers brand continued to show triple-digit revenue growth, accounting for nearly 40% of U.S. revenue [27] - The weight loss offering reached a $100 million revenue run rate in less than seven months after launch [11] - Approximately 65% of subscribers were utilizing a personalized treatment by the end of 2025 [24] Market Data and Key Metrics Changes - International revenue grew almost 400% year-over-year to $134 million [29] - The company expects its international business to scale to more than $1 billion in annual revenue within the next three years [15] - Subscriber growth in the weight loss offering exceeded 70% year-over-year in Q4 2025 [45] Company Strategy and Development Direction - The company aims to expand its international footprint and has made acquisitions to deepen its presence in key markets [14][15] - A focus on consumer-centric healthcare is driving the company's strategy, with plans to integrate new technologies and expand service offerings [20] - The company is investing in technology and infrastructure to enhance personalized care and improve customer engagement [19][37] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving a target of $6.5 billion in revenue and $1.3 billion in adjusted EBITDA by 2030 [22] - The company is navigating regulatory scrutiny and is focused on diversifying its offerings beyond GLP-1 treatments [55][56] - Management highlighted the importance of expanding the range of treatments available to meet consumer needs [64] Other Important Information - The company has invested over $300 million into facilities to support its operations and innovations [19] - A significant share repurchase program was completed, with $90 million worth of common stock repurchased in 2025 [36] Q&A Session Summary Question: Long-term vision for global growth and integration of Eucalyptus - The company aims to target 10 key markets globally and anticipates $1 billion in incremental international revenue in the coming years [54] Question: Impact of regulatory scrutiny on growth and pivoting away from GLP-1s - Management emphasized that the majority of revenue comes from offerings outside of weight loss and plans to continue expanding the range of treatments [57][58] Question: Durability and growth profile of the U.S. weight loss business - The company believes in the durability of the weight loss business and plans to expand the assortment of treatments available [64]