Why this market is moving now
- FDA enforcement windows for compounded tirzepatide and semaglutide closed between March and May 2025.
- The FDA sent 30 warning letters to telehealth firms on March 3, 2026.
- Hims & Hers moved to stop advertising compounded GLP-1s on March 9, 2026.
Key figures
Each figure names the source it came from. Open the source list below to read the quoted line.
| Figure | Value | Year | Source |
|---|---|---|---|
| Hims & Hers reported revenue of $2,347.6 million for 2025, up 59% from 2024. | 2,347.6 USD million | 2025 | Hims & Hers Health, Inc. |
| Hims & Hers had more than 2.5 million subscribers at the end of 2025, up 13% year over year. | 2.5 million subscribers | 2025 | Hims & Hers Health, Inc. |
| Hims & Hers said its Weight Loss specialty generates more than $100 million in annual revenue. | 100 USD million (annual revenue, floor) | 2025 | Hims & Hers Health, Inc. |
| Hims & Hers guided to 2026 revenue of $2.7 billion to $2.9 billion. | 2.7 to 2.9 USD billion (company guidance) | 2026 | Hims & Hers Health, Inc. |
| The FDA's enforcement window for 503B outsourcing facilities compounding semaglutide ran until May 22, 2025. | May 22, 2025 | 2025 | U.S. Food and Drug Administration |
| The FDA's enforcement window for 503B outsourcing facilities compounding tirzepatide ran until March 19, 2025. | March 19, 2025 | 2025 | U.S. Food and Drug Administration |
| The FDA issued 30 warning letters to telehealth companies over marketing of compounded GLP-1s on March 3, 2026. | 30 warning letters | 2026 | U.S. Food and Drug Administration |
| Hims & Hers said on March 9, 2026 it would stop advertising compounded GLP-1 offerings and bring Novo Nordisk's Wegovy and Ozempic to its platform. | March 9, 2026 | 2026 | Hims & Hers Health, Inc. |
| WeightWatchers had approximately 130.2 thousand Clinical subscribers at the end of fiscal 2025. | 130.2 thousand subscribers | 2025 | WW International, Inc. |
Sources and method
The figures on this page come from the public sources listed below. Read how we work.
- Hims & Hers Health, Inc.: Hims & Hers Health, Inc. Reports Fourth Quarter and Full Year 2025 Financial Results (2026-02-23)
Quoted lines
- Figure 1
Revenue of approximately $2.35 billion, up 59% year-over-year in 2025
- Figure 2
Subscribers grew to over 2.5 million, up 13% year-over-year in 2025.
- Figure 4
Revenue of $2.7 billion to $2.9 billion
- Figure 1
- Hims & Hers Health, Inc.: Q4 2025 Shareholder Letter (2026-02-23)
Quoted lines
- Figure 3
Weight Loss, Men’s Dermatology, Sexual Health, and Women’s Dermatology each now generate more than $100 million
- Figure 3
- U.S. Food and Drug Administration: FDA clarifies policies for compounders as national GLP-1 supply begins to stabilize (2026-04-01)
Quoted lines
- Figure 5
For outsourcing facilities under section 503B of the FD&C Act, until May 22, 2025, or until the date
- Figure 6
For outsourcing facilities under section 503B until March 19, 2025, or until the date
- Figure 5
- U.S. Food and Drug Administration: FDA Warns 30 Telehealth Companies Against Illegal Marketing of Compounded GLP-1s (2026-03-03)
Quoted lines
- Figure 7
30 warning letters to telehealth companies
- Figure 7
- Hims & Hers Health, Inc.: Hims & Hers Announces Strategic Shift for US Weight Loss Business (2026-03-09)
Quoted lines
- Figure 8
Hims & Hers Announces Strategic Shift for US Weight Loss Business March 9, 2026
- Figure 8
- WW International, Inc.: Form 10-K for fiscal year 2025 (2026)
Quoted lines
- Figure 9
As of the end of fiscal 2025, we had approximately 130.2 thousand Clinical subscribers.
- Figure 9
Companies to watch
Hims & Hers Health
Telehealth platform with more than 2.5 million subscribers at the end of 2025.
WeightWatchers (WW International)
Clinical telehealth arm had about 130.2 thousand subscribers at the end of fiscal 2025.
Novo Nordisk
Supplying Wegovy and Ozempic to the Hims & Hers platform under a March 2026 collaboration.
What the full report covers
- 01Executive summary
The answer in one page: size, direction and what moves it - 02Market definition and scope
What is in and out of the United States market - 03Market size, 2021 to 2025
Historical series and growth rates - 04Outlook to 2031
Base, low and high scenarios with stated assumptions - 05Rules, policy and deadlines
Regulation and programmes that change demand - 06Drivers and barriers
What accelerates or slows adoption, by customer segment - 07Prices, costs and margins
Unit economics where public data allows - 08Competitive landscape
8 to 12 company profiles with recent moves - 09Opportunities and risks
For new entrants, suppliers and investors - 10Method and sources
Every assumption and source, listed
Included with the full report
- PDF report, 40 to 60 pages
- Excel data pack
- Ready-to-use charts
- Method note and assumptions
- Written to order in 5 working days
Frequently asked questions
How big is Hims & Hers?
Hims & Hers reported about $2.35 billion of revenue in 2025, up 59%, and more than 2.5 million subscribers at year end, according to its Q4 2025 results release.
How much revenue does Hims & Hers make from weight loss?
The company's Q4 2025 shareholder letter says Weight Loss generates more than $100 million in annual revenue. It does not give an exact figure.
Is compounded semaglutide still allowed?
The FDA's enforcement window for 503B facilities compounding semaglutide ended on May 22, 2025. FDA's page also covers 503A pharmacies. Hims & Hers said in March 2026 it would stop advertising compounded GLP-1s.
What did the FDA do about telehealth weight loss ads?
On March 3, 2026, the FDA announced 30 warning letters to telehealth companies over how they market compounded GLP-1 products.
Which companies compete in telehealth weight loss?
Hims & Hers (over 2.5 million subscribers) and WeightWatchers (about 130.2 thousand Clinical subscribers) are public examples with filed figures.
What is Hims & Hers guiding for 2026?
Hims & Hers guided to 2026 revenue of $2.7 billion to $2.9 billion in its February 23, 2026 release. This is company guidance, not a forecast from us.
Free sample
Get a free sample of this report
We send the table of contents, two sample chapters and the method note, usually within one working day. You owe us nothing for asking.
- Full table of contents
- Two sample chapters
- Method note and data outline