Hims & Hers: Scaling the Future of Digital Health and Capturing a $2 Trillion Wellness Market

In the ever-evolving landscape of digital health, few companies have demonstrated the kind of velocity and vision that Hims & Hers Health, Inc. has achieved in recent years. With a projected $2.4 billion in revenue for 2025, the company is not just defying market skepticism—it is redefining the boundaries of what a digital health platform can achieve. From its origins as a direct-to-consumer provider of men's and women's wellness products to its current status as a global leader in personalized healthcare, Hims & Hers has built a scalable model that sits at the intersection of technology, accessibility, and unmet consumer demand.

The Engine of Growth: A Digital Platform with Global Ambitions

Hims & Hers' 2024 results tell a story of explosive growth. Revenue surged 69% year-over-year to $1.4765 billion, driven by a 71% increase in online revenue and a 30% jump in wholesale sales. By the end of 2024, the company had 2.2 million subscribers, with a monthly revenue per subscriber of $64 and an average order value of $137—a 19% and 41% increase, respectively, compared to 2023. These metrics are not just numbers; they represent a seismic shift in how consumers access healthcare.

The company's first-quarter 2025 performance further cements its momentum. Revenue for Q1 2025 hit $586 million, a 111% increase from the same period in 2024. Net income and Adjusted EBITDA also saw sharp gains, rising to $49.5 million and $91.1 million, respectively. This acceleration is no accident. Hims & Hers has mastered the art of scaling through a combination of strategic acquisitions, localized care delivery, and a relentless focus on personalization.

Global Expansion: From Zava to Canada and Beyond

The acquisition of Zava in June 2025 marked a pivotal moment in Hims & Hers' global strategy. By integrating Zava's 1.3 million active European customers and its in-house medical team, Hims & Hers has established a foothold in the UK and a launchpad for expansion into Germany, Ireland, and France. This move is not just about market share—it is about creating a digital health ecosystem that transcends borders.

Looking ahead, the company plans to enter the Canadian market in 2026, leveraging the impending availability of generic semaglutide. With nearly two-thirds of Canadian adults classified as overweight or obese, the opportunity is vast. Hims & Hers aims to offer a holistic weight-loss program that combines affordable medication, 24/7 provider support, and digital accessibility—a formula that has already proven successful in the U.S.

The company's long-term vision is even more ambitious. By 2030, Hims & Hers projects $6.5 billion in revenue and $1.3 billion in Adjusted EBITDA. To achieve this, it is investing heavily in engineering talent, AI-driven personalization, and localized healthcare solutions. The goal is clear: transform from a U.S.-centric platform into a global digital health leader.

Untapped Potential: The $2 Trillion Wellness Market

The global wellness industry, valued at $2 trillion in 2025, is a goldmine for companies that can address unmet needs. Hims & Hers is uniquely positioned to capitalize on this, particularly in two areas:

1. Gender-Specific Wellness: Women have historically driven growth in the wellness sector, but gaps remain. For instance, only 5% of FemTech startups address menopause, a market with significant unmet demand. Hims & Hers' platform, which already offers tailored solutions for women's health, is well-suited to expand into this space. Meanwhile, men are increasingly engaging with wellness—fitness, mental health, and nutrition—but still lag behind women in holistic adoption.

2. Digital Mental Health and Cognitive Wellness: While apps like Headspace and Calm have made mindfulness accessible, they often lack personalization. Hims & Hers' model, which integrates 24/7 provider support and science-backed solutions, could redefine how mental health is delivered. With 42% of Gen Z and Millennials prioritizing mindfulness, the potential is enormous.

Risks and Rewards

For investors, the key question is whether Hims & Hers can maintain its growth trajectory while navigating challenges. Regulatory hurdles in new markets, competition from traditional healthcare providers, and the need for sustained R&D in AI and personalized medicine are all risks. However, the company's financials—$176.9 million in 2024 Adjusted EBITDA and a $126 million net income—suggest it has the operational discipline to scale profitably.

Moreover, the company's focus on affordability and accessibility aligns with global healthcare trends. As governments and insurers increasingly seek cost-effective solutions, Hims & Hers' model could attract partnerships that further accelerate growth.

Conclusion: A Digital Health Titan in the Making

Hims & Hers is more than a subscription-based platform; it is a harbinger of the future of healthcare. By combining technology, personalization, and global scalability, the company is addressing a market that is not only large but ripe for disruption. For investors, the question is not whether Hims & Hers can reach $2.4 billion in revenue—it is whether they can surpass it.

As CEO Andrew Dudum noted, “Our platform is not just a business—it's a movement.” And movements, when backed by data and vision, tend to reshape industries. Hims & Hers is poised to be one of them.