Cover - USD ($) $ in Billions	12 Months Ended
Cover - USD ($) $ in Billions	Dec. 31, 2024	Feb. 21, 2025	Jun. 28, 2024
Document Information [Line Items]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2024
Current Fiscal Year End Date	--12-31
Document Transition Report	false
Entity Registrant Name	HIMS & HERS HEALTH, INC.
Entity Incorporation, State or Country Code	DE
Entity File Number	001-38986
Entity Tax Identification Number	98-1482650
Entity Address, Address Line One	2269 Chestnut Street, #523
Entity Address, City or Town	San Francisco
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	94123
City Area Code	415
Local Phone Number	851-0195
Title of 12(b) Security	Class A common stock, $0.0001 par value per share
Trading Symbol	HIMS
Security Exchange Name	NYSE
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	true
Document Financial Statement Error Correction [Flag]	false
Entity Shell Company	false
Entity Public Float			$ 3.9
Documents Incorporated by Reference	Portions of the registrant’s definitive proxy statement to be delivered to stockholders in connection with the 2025 annual meeting of stockholders are incorporated by reference in response to Part III of this Annual Report on Form 10-K to the extent stated herein. The 2025 Proxy Statement will be filed with the U.S. Securities and Exchange Commission within 120 days after the end of the fiscal year to which this report relates.
Amendment Flag	false
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	FY
Entity Central Index Key	0001773751
Common Class A
Document Information [Line Items]
Entity Common Stock, Shares Outstanding (in shares)		213,787,949
Common Class V
Document Information [Line Items]
Entity Common Stock, Shares Outstanding (in shares)		8,377,623

Audit Information	12 Months Ended
Audit Information	Dec. 31, 2024
Audit Information [Abstract]
Auditor Name	KPMG LLP
Auditor Location	San Francisco, CA
Auditor Firm ID	185

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Current assets:
Cash and cash equivalents	$ 220,584	$ 96,663
Short-term investments	79,667	124,318
Inventory	64,427	22,464
Prepaid expenses and other current assets	31,153	21,608
Total current assets	395,831	265,053
Restricted cash	856	856
Goodwill	112,728	110,881
Property, equipment, and software, net	82,083	36,143
Intangible assets, net	43,410	18,574
Operating lease right-of-use assets	10,881	9,588
Deferred tax assets, net	61,603	0
Other long-term assets	147	91
Total assets	707,539	441,186
Current liabilities:
Accounts payable	91,180	43,070
Accrued liabilities	53,013	28,972
Deferred revenue	75,285	7,733
Earn-out payable	0	7,412
Operating lease liabilities	1,889	1,281
Total current liabilities	221,367	88,468
Operating lease liabilities	9,456	8,667
Other long-term liabilities	0	22
Total liabilities	230,823	97,157
Commitments and contingencies (Note $13)
Stockholders' equity:
Common stock – Class A shares, par value $0.0001, 2,750,000,000 shares authorized and 212,459,586 and 205,104,120 shares issued and outstanding as of December 31, 2024 and 2023, respectively; Class V shares, par value $0.0001, 10,000,000 shares authorized and 8,377,623 shares issued and outstanding as of December 31, 2024 and 2023	22	21
Additional paid-in capital	719,155	712,307
Accumulated other comprehensive loss	(324)	(124)
Accumulated deficit	(242,137)	(368,175)
Total stockholders' equity	476,716	344,029
Total liabilities and stockholders' equity	$ 707,539	$ 441,186

Consolidated Balance Sheets (Parenthetical) - $ / shares	Dec. 31, 2024	Dec. 31, 2023
Common Class A
Stockholders' equity:
Common stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Common stock, shares authorized (in shares)	2,750,000,000	2,750,000,000
Common stock, shares issued (in shares)	212,459,586	205,104,120
Common stock, shares outstanding (in shares)	212,459,586	205,104,120
Common Class V
Stockholders' equity:
Common stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Common stock, shares authorized (in shares)	10,000,000	10,000,000
Common stock, shares issued (in shares)	8,377,623	8,377,623
Common stock, shares outstanding (in shares)	8,377,623	8,377,623

Consolidated Statements of Operations and Comprehensive Income (Loss) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Income Statement [Abstract]
Revenue	$ 1,476,514	$ 872,000	$ 526,916
Cost of revenue	303,379	157,051	118,194
Gross profit	1,173,135	714,949	408,722
Operating expenses:
Marketing	678,844	446,435	272,587
Operations and support	185,802	119,857	77,403
Technology and development	78,819	48,227	29,237
General and administrative	167,767	129,883	98,192
Total operating expenses	1,111,232	744,402	477,419
Income (loss) from operations	61,903	(29,453)	(68,697)
Other income (expense):
Change in fair value of liabilities	0	(1,075)	70
Other income, net	9,808	8,957	2,918
Total other income, net	9,808	7,882	2,988
Income (loss) before income taxes	71,711	(21,571)	(65,709)
Benefit (provision) for income taxes	54,327	(1,975)	31
Net income (loss)	126,038	(23,546)	(65,678)
Other comprehensive (loss) income	(200)	153	(140)
Total comprehensive income (loss)	$ 125,838	$ (23,393)	$ (65,818)
Net income (loss) per share attributable to common stockholders, Class A and Class V:
Basic (in USD per share)	$ 0.58	$ (0.11)	$ (0.32)
Diluted (in USD per share)	$ 0.53	$ (0.11)	$ (0.32)
Weighted average shares outstanding, Class A and Class V:
Basic (in shares)	215,939,037	209,344,712	204,516,120
Diluted (in shares)	236,808,876	209,344,712	204,516,120

Consolidated Statements of Stockholders' Equity - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-In Capital	Accumulated Other Comprehensive Loss	Accumulated Deficit
Beginning balance (in shares) at Dec. 31, 2021		204,791,986
Beginning balance at Dec. 31, 2021	$ 334,619	$ 20	$ 613,687	$ (137)	$ (278,951)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock upon vesting of RSUs, net of shares withheld for taxes (in shares)		1,632,111
Payments for taxes related to net share settlement of equity awards	(3,901)		(3,901)
Exercise of vested stock options (in shares)		1,611,687
Exercise of vested stock options	2,246	$ 1	2,245
Vesting of early exercised stock options	197		197
Issuance of common stock under employee stock purchase plan (in shares)		393,528
Issuance of common stock under employee stock purchase plan	1,178		1,178
Stock-based compensation	43,220		43,220
Other comprehensive (loss) income	(140)			(140)
Net income (loss)	(65,678)				(65,678)
Ending balance (in shares) at Dec. 31, 2022		208,429,312
Ending balance at Dec. 31, 2022	311,741	$ 21	656,626	(277)	(344,629)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock upon vesting of RSUs, net of shares withheld for taxes (in shares)		3,472,456
Payments for taxes related to net share settlement of equity awards	(14,096)		(14,096)
Exercise of vested stock options (in shares)		1,222,548
Exercise of vested stock options	2,322		2,322
Issuance of common stock under employee stock purchase plan (in shares)		594,885
Issuance of common stock under employee stock purchase plan	2,298		2,298
Stock repurchased and retired during period (in shares)		(237,458)
Repurchases and retirement of common stock	(1,999)		(1,999)
Stock-based compensation	67,156		67,156
Other comprehensive (loss) income	153			153
Net income (loss)	(23,546)				(23,546)
Ending balance (in shares) at Dec. 31, 2023		213,481,743
Ending balance at Dec. 31, 2023	344,029	$ 21	712,307	(124)	(368,175)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock upon vesting of RSUs, net of shares withheld for taxes (in shares)		4,404,420
Payments for taxes related to net share settlement of equity awards	(52,501)		(52,501)
Exercise of vested stock options (in shares)		6,734,549
Exercise of vested stock options	26,651	$ 1	26,650
Issuance of common stock under employee stock purchase plan (in shares)		617,563
Issuance of common stock under employee stock purchase plan	3,901		3,901
Stock repurchased and retired during period (in shares)		(5,768,042)
Repurchases and retirement of common stock	(83,039)		(83,039)
Stock-based compensation	94,608		94,608
Other comprehensive (loss) income	(200)			(200)
Exercise of Class A common stock warrants (in shares)		271,291
Exercise of Class A common stock warrants	333		333
Issuance of common stock for acquisition-related earn-out consideration (in shares)		119,344
Issuance of common stock for acquisition-related earn-out consideration	1,396		1,396
Issuance of common stock for acquisition of businesses (in shares)		976,341
Issuance of common stock for acquisition of business	15,500		15,500
Net income (loss)	126,038				126,038
Ending balance (in shares) at Dec. 31, 2024		220,837,209
Ending balance at Dec. 31, 2024	$ 476,716	$ 22	$ 719,155	$ (324)	$ (242,137)

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Operating activities
Net income (loss)	$ 126,038	$ (23,546)	$ (65,678)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Depreciation and amortization	17,088	9,515	7,474
Stock-based compensation	92,322	66,080	42,817
Change in fair value of liabilities	0	1,075	(70)
Net (accretion) amortization on securities	(4,355)	(5,686)	146
Benefit for deferred taxes	(61,649)	(13)	(594)
Impairment of long-lived assets	114	429	1,127
Non-cash operating lease cost	2,546	1,922	1,605
Non-cash acquisition-related costs	0	2,691	837
Non-cash other	357	195	0
Changes in operating assets and liabilities:
Inventory	(41,612)	(902)	(8,004)
Prepaid expenses and other current assets	(9,494)	(6,395)	(6,335)
Other long-term assets	(56)	(58)	17
Accounts payable	43,710	7,324	12,723
Accrued liabilities	23,791	16,524	909
Deferred revenue	67,552	6,261	(1,716)
Operating lease liabilities	(2,443)	(1,933)	(1,605)
Earn-out payable	(2,825)	0	(10,184)
Net cash provided by (used in) operating activities	251,084	73,483	(26,531)
Investing activities
Purchases of investments	(160,564)	(157,239)	(187,700)
Maturities of investments	208,940	170,051	194,259
Proceeds from sales of investments	725	1,574	35,846
Investment in website and mobile application development and internal-use software	(11,095)	(9,272)	(4,533)
Purchases of property, equipment, and intangible assets	(41,655)	(17,220)	(2,714)
Acquisition of business, net of cash acquired	(15,399)	0	0
Deferred consideration paid for acquisitions	0	0	(459)
Net cash (used in) provided by investing activities	(19,048)	(12,106)	34,699
Financing activities
Proceeds from exercise of vested stock options	26,651	2,322	2,246
Payments for taxes related to net share settlement of equity awards	(52,501)	(14,096)	(3,901)
Repurchases of common stock	(83,039)	(1,999)	0
Payments for acquisition-related earn-out consideration	(3,190)	0	(32,650)
Proceeds from employee stock purchase plan	3,901	2,298	1,178
Proceeds from exercise of Class A common stock warrants	333	0	0
Net cash used in financing activities	(107,845)	(11,475)	(33,127)
Foreign currency effect on cash and cash equivalents	(270)	(11)	(53)
Increase (decrease) in cash, cash equivalents, and restricted cash	123,921	49,891	(25,012)
Cash, cash equivalents, and restricted cash at beginning of period	97,519	47,628	72,640
Cash, cash equivalents, and restricted cash at end of period	221,440	97,519	47,628
Reconciliation of cash, cash equivalents, and restricted cash
Cash and cash equivalents	220,584	96,663	46,772
Restricted cash	856	856	856
Total cash, cash equivalents, and restricted cash	221,440	97,519	47,628
Supplemental disclosures of cash flow information
Cash paid for taxes	7,916	1,109	636
Non-cash investing and financing activities
Purchases of property and equipment included in accounts payable and accrued liabilities	7,781	3,383	0
Right-of-use asset obtained in exchange for lease liability	2,593	6,270	1,206
Vesting of early exercised stock options	0	0	197
Issuance of common stock for acquisition-related earn-out consideration	1,396	0	0
Issuance of common stock and liabilities assumed in connection with acquisition of business	$ 16,000	$ 0	$ 0

Organization	12 Months Ended
Organization	Dec. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization	Organization Hims & Hers Health, Inc. (the “Company” or “Hims & Hers”), incorporated in Delaware, is a consumer-first platform transforming the way customers fulfill their health and wellness needs. The Company’s mission is to help the world feel great through the power of better health. The Hims & Hers platform includes access to a highly-qualified and technologically-capable provider network, a clinically-focused electronic medical records system, digital prescriptions, cloud-enabled pharmacy fulfillment, and personalization capabilities. The Company’s digital platform enables access to treatments for a broad range of conditions, including those related to sexual health, hair loss, dermatology, mental health, and weight loss. Hims & Hers connects patients to licensed healthcare professionals who can prescribe medications when appropriate. Prescriptions are fulfilled online through licensed pharmacies on a subscription basis, making accessing treatments simple, affordable, and straightforward. Through the Hims & Hers mobile applications, consumers can access a range of educational programs, wellness content, community support, and other services that promote lifelong health and wellness. In addition, the Company offers access to a range of health and wellness products designed to meet individual needs, which can include curated prescription and non-prescription products. The Company’s products and services are available for purchase directly by customers on the Company’s websites and mobile applications. Additionally, Hims & Hers non-prescription products can be found in tens of thousands of top retail locations in the United States.

Summary of Significant Accounting Policies

12 Months Ended

Dec. 31, 2024

Accounting Policies [Abstract]

Summary of Significant Accounting Policies

Basis of Presentation and Principles of Consolidation

The accompanying consolidated financial statements have been prepared pursuant to accounting principles generally accepted in the United States of America (“U.S. GAAP”).

The consolidated financial statements include the accounts of the Company, its wholly-owned subsidiaries, and variable interest entities in which it is the primary beneficiary. All intercompany transactions and balances have been eliminated in the consolidated financial statements herein.

For the years ended December 31, 2024, 2023, and 2022, the Company had operations primarily in the United States, with insignificant operations in the United Kingdom.

Use of Estimates

The preparation of consolidated financial statements in conformity with U.S. GAAP requires management to make estimates, judgments, and assumptions that affect the amounts reported in the financial statements and accompanying notes. The more significant estimates, judgments, and assumptions by management include, among others, valuation and recognition of stock-based compensation expense, valuation of contingent consideration in business combinations, purchase price allocation for business combinations, valuation of deferred tax assets, valuation of inventory, and estimates used in the capitalization of website development and internal-use software costs. Management believes that the estimates, judgments, and assumptions upon which it relies are reasonable based upon information available to it at the time that these estimates, judgments, and assumptions were made. Actual results experienced by the Company may differ from management’s estimates. To the extent that there are material differences between these estimates and actual results, the Company’s consolidated financial statements will be affected.

Risks and Uncertainties

The Company’s business, operations, and financial results are subject to various risks and uncertainties, including adverse United States economic conditions, legal restrictions, changes to the regulatory environment, changing laws for medical services and prescription products, decisions to outsource or modify portions of its supply chain, and competition in its industry, any of which could adversely affect its business, financial condition, results of operations, and cash flows. These significant factors, among others, could cause the Company’s future results to differ materially from the consolidated financial statements.

Concentration Risk

The Company’s financial instruments that are potentially exposed to concentrations of credit risk consist primarily of cash and cash equivalents, restricted cash, investments, and accounts receivable.

The Company maintains its cash, cash equivalents, short-term investments, and restricted cash with high-quality financial institutions with investment-grade ratings. The majority of the cash balances are with U.S. banks and are insured to the extent defined by the Federal Deposit Insurance Corporation.

The prescription products ordered on the Hims & Hers platform are primarily fulfilled by the Affiliated and Partner Pharmacies (as defined below). If any of the pharmacies were to stop fulfilling orders, it could significantly slow prescription product sales until fulfillment volume is redistributed to other operating pharmacies. The Company maintains agreements with these pharmacies and is continuing to invest in expanding affiliated pharmacy fulfillment capabilities to mitigate any such risk.

Certain newer offerings on the Hims & Hers platform are primarily manufactured by one supplier. If this supplier stops fulfilling purchase orders, it could significantly slow the Company’s ability to fulfill these orders until new suppliers are onboarded and internal manufacturing capabilities are expanded. The Company maintains agreements with suppliers and is continuing to invest in expanding internal manufacturing capabilities to mitigate any such risk.

As of both December 31, 2024 and 2023, four wholesale customers individually represented more than 10% of accounts receivable. For the years ended December 31, 2024, 2023, and 2022, no single customer represented more than 10% of revenue. In addition, revenue related to sales in foreign countries was less than 10% of revenue for each of those years.

Foreign Currency Translation

The Company’s consolidated financial statements are presented in U.S. dollars. Adjustments resulting from translating foreign functional currency financial statements into U.S. dollars are presented as foreign currency translation adjustments, a component of other comprehensive (loss) income on the consolidated statements of operations and comprehensive income (loss).

Business Combinations

The Company accounts for its business combinations using the acquisition method of accounting. The purchase price is attributed to the fair value of the assets acquired and liabilities assumed. Transaction costs directly attributable to the acquisition are expensed as incurred. Identifiable assets and liabilities acquired or assumed are measured separately at their fair values as of the acquisition date. The excess of the purchase price of acquisition over the fair value of the identifiable net assets of the acquiree is recorded as goodwill. The results of businesses acquired in a business combination are included in the Company’s consolidated financial statements from the date of acquisition.

When the Company issues stock-based or cash awards to an acquired company’s shareholders, the Company evaluates whether the awards are consideration or compensation for post-acquisition services. The evaluation includes, among other things, whether the vesting of the awards is contingent on the continued employment of the acquired company’s stockholders beyond the acquisition date. If continued employment is required for vesting, the awards are treated as compensation for post-acquisition services and recognized as expense over the requisite service period.

Determining the fair value of assets acquired and liabilities assumed requires management to use significant judgment and estimates, including the selection of valuation methodologies, estimates of future revenue and cash flows, discount rates, and selection of comparable companies. The estimates and assumptions used to determine the fair values and useful lives of identified intangible assets could change due to numerous factors, including market conditions, technological developments, economic conditions, and competition. In connection with determination of fair values, the Company may engage a third-party valuation specialist to assist with the valuation of intangible and certain tangible assets acquired and certain assumed obligations.

Any acquired assets from a business combination, including intangible assets, are continuously monitored and reviewed for potential impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. In such cases, recoverability of assets to be held and used is assessed by comparing the carrying amount of assets

with their future underlying net undiscounted cash flows without interest charges. If such assets are considered to be impaired, an impairment is recognized as the amount by which the carrying amount of the assets exceeds the estimated fair values of the assets.

Segment Reporting

The Company is managed as a single operating segment on a consolidated basis, inclusive of acquisitions. The Company determines its operating segments based on how the chief operating decision maker (“CODM”) makes decisions regarding the allocation of resources and operational strategy, assesses performance, and manages the organization at a consolidated level. The Chief Executive Officer (“CEO”), is the CODM. The products and services from which this segment derives its revenues are described below in the discussion of revenue recognition.

Cash, Cash Equivalents, and Restricted Cash

The Company considers all highly liquid investments purchased with an original maturity or remaining maturity of three months or less at the date of purchase to be cash equivalents. The Company deposits its cash and cash equivalents with financial institutions.

The restricted cash balance comprises cash collateral that is held by the Company’s primary financial institution to secure a letter of credit issued as a security deposit for the Company’s warehouse facility in New Albany, Ohio.

Investments

Available-for-sale debt instruments with original maturities at the date of purchase greater than three months and remaining maturities of less than one year are classified as short-term investments. Available-for-sale debt instruments with original maturities at the date of purchase and remaining maturities of greater than one year are classified as long-term investments. The Company intends to sell such investments, if any, at or close to maturity.

The investments are designated as available-for-sale and are reported at fair value, with unrealized gains and losses, net of tax, recorded in other comprehensive (loss) income on the consolidated statements of operations and comprehensive income (loss), except for credit losses. The Company determines the cost of the investment sold based on specific identification at the individual security level. The Company records the interest income and realized gains and losses on the sale of these instruments within other income, net on the consolidated statements of operations and comprehensive income (loss).

Credit Losses

The Company considers whether unrealized losses have resulted from a credit loss or other factors. The unrealized losses on the Company’s available-for-sale securities for the years ended December 31, 2024, 2023, or 2022 were caused by fluctuations in market value and interest rates as a result of the economic environment. The Company concluded that an allowance for credit losses for its available-for-sale securities was unnecessary as of December 31, 2024 and 2023 because the decline in the market value was attributable to changes in market conditions and not credit quality, and that it is neither management’s intention to sell nor is it more likely than not that the Company will be required to sell these investments prior to recovery of their cost basis or recovery of fair value. There were no material realized gains or losses on available-for-sale securities in the periods presented.

Fair Value of Financial Instruments

The fair value of a financial instrument is based on the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Assets and liabilities subject to ongoing fair value measurement are categorized and disclosed into one of the three categories depending on observable or unobservable inputs employed in the measurement. Hierarchical levels, which are directly related to the amount of subjectivity associated with the inputs to the valuation of these assets or liabilities, are as follows:

•Level 1: Inputs that are unadjusted, quoted prices in active markets for identical assets or liabilities at the measurement date.

•Level 2: Inputs (other than quoted prices included in Level 1) that are either directly or indirectly observable for the asset or liability through correlation with market data at the measurement date and for the duration of the instrument’s anticipated life.

•Level 3: Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities and that reflect management’s best estimate of what market participants would use in pricing the asset or liability at the measurement date.

In some circumstances, the inputs used to measure fair value might be categorized within different levels of the fair value hierarchy. In those instances, the fair value measurement is categorized in its entirety in the fair value hierarchy based on the lowest level input that is significant to the fair value measurement.

Inventory

Inventory primarily consists of finished goods and raw materials that are located at Company-managed and third-party fulfillment warehouses and pharmacies. Inventory is stated at the lower of cost and net realizable value and inventory cost is determined by the weighted average cost method. The Company reserves for expired, slow-moving, and excess inventory by estimating the net realizable value based on the potential future use of such inventory. Management monitors inventory to identify events that would require impairment due to slow-moving, expired, or obsolete inventory and reduces the value of inventory when required. Obsolete inventory balances are written off against the inventory allowance when management determines that the inventory cannot be sold.

Prepaid Expenses and Other Current Assets

Prepaid expenses and other current assets consist of balances related to prepayments or vendor deposits for insurance, marketing, software, inventory and other operating costs, and trade and other accounts receivables. Prepaid expenses are recorded when payment has been made in advance for goods and services. Trade accounts receivable are recorded at the invoiced amount and do not bear interest. Receivables are stated at amounts estimated by management to be equal to their net realizable values. The allowance for doubtful accounts is the Company's best estimate of the amount of expected credit losses on its accounts receivable. The expectation of collectability is based on the Company's review of credit profiles of customers, contractual terms and conditions, current economic trends, and historical payment experience. If events or changes in circumstances indicate that specific receivable balances may be impaired, further consideration is given to the collectability of those balances and an allowance is recorded accordingly. Account balances are written off against the allowance after all means of collection have been exhausted and the potential for recovery is considered remote. As of December 31, 2024 and 2023, gross accounts receivable, comprising wholesale trade and other receivables, net, was $6.1 million and $6.7 million, respectively. There were no write-offs of accounts receivable for the years ended December 31, 2024 and 2022. There were immaterial write-offs of accounts receivable for the year ended December 31, 2023. As of December 31, 2024 and 2023, the Company had no material allowances for doubtful accounts.

The Company does not have any off-balance sheet credit exposure related to its customers.

Property, Equipment, and Software, Net

Property, equipment, and software consist of purchased and internal-use software and website development, facility equipment and other tangible property, leasehold improvements, and assets not placed in service. Property, equipment, and software are depreciated or amortized using the straight-line method over the estimated useful lives ranging from two to ten years, with leasehold improvements depreciated over the shorter of their useful life or the related lease term. Property and equipment are recorded at cost, less accumulated depreciation and amortization. Maintenance and repair costs are charged to expense as incurred, and expenditures that extend the useful lives of assets are capitalized.

Capitalizable website and mobile application development and internal-use software costs are recorded at cost, less amortization. The costs incurred during the website application and infrastructure stages as well as costs incurred during the graphics and content development stages are capitalized; all other costs are expensed as incurred. In addition, the Company incurs costs to develop software for internal use. The costs incurred during the application development phase are capitalized until the project is completed and the asset is ready for intended use. All costs that relate to the preliminary project and post-implementation operation phases of development are expensed as incurred.

The following table summarizes the estimated amortization of website development and internal-use software costs subsequent to December 31, 2024 (in thousands):


2025	$	9,453
2026	6,970
2027	2,756
Total	$	19,179

Goodwill

Goodwill represents the excess of the purchase price over the fair value of the net tangible and intangible assets acquired in a business combination. Goodwill is not amortized but is tested for impairment annually in the fourth quarter or more frequently if events or changes in circumstances indicate that the asset may be impaired. The Company operates as one reporting unit. When testing goodwill for impairment, the Company may first perform an optional qualitative assessment. If the Company determines it is not more likely than not the reporting unit’s fair value is less than its carrying value, then no further analysis is necessary. If the Company determines that it is more likely than not that the fair value of its reporting unit is less than its carrying amount, then the quantitative impairment test will be performed. Under the quantitative impairment test, if the carrying amount of the Company’s reporting unit exceeds its fair value, the Company will recognize an impairment loss in an amount equal to that excess but limited to the total amount of goodwill. Goodwill of $1.8 million was acquired during 2024. No goodwill impairment was recorded for the years ended December 31, 2024, 2023, and 2022.

Intangible Assets, Net

Intangible assets, net primarily includes the 503B pharmacy license, trade name, customer relationships, and developed technology. The Company amortizes such definite-lived intangible assets on a straight-line basis over the assets’ estimated useful lives of two to ten years, within operating expenses on the consolidated statements of operations and comprehensive income (loss).

Impairment of Long-Lived Assets

Long-lived assets include property, equipment, and software and intangible assets subject to amortization. Long-lived assets are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset group may not be recoverable. In such cases, recoverability of asset groups to be held and used is assessed by comparing the carrying amount of the asset group with its future underlying net undiscounted cash flows without interest charges. If such asset group is are considered to be impaired, an impairment is recognized as the amount by which the carrying amount of the asset group exceeds the estimated fair values of the asset group. The Company recognized immaterial impairment charges on long-lived assets during each of the years ended December 31, 2024 and 2023 and $1.1 million of impairment charges on long-lived assets during the year ended December 31, 2022. These charges are included in general and administrative expenses on the consolidated statements of operations and comprehensive income (loss). As a result of the continued integration of YoDerm, Inc. (“Apostrophe”) since the acquisition, the Company concluded it was a single asset group as of January 1, 2024.

Operating Leases

The Company determines if an arrangement contains a lease at inception based on whether there is identified property, plant, or equipment and whether the Company controls the use of the identified asset throughout the period of use. The Company leases facilities for fulfillment and corporate purposes under non-cancelable operating leases with expiration dates between fiscal years 2025 and 2030, not including renewal options the Company is reasonably certain to exercise.

The Company's operating leases are reflected in the operating lease right-of-use (“ROU”) assets and in the operating lease liabilities in the accompanying consolidated balance sheets. The operating lease ROU assets represent the Company’s right to use the underlying assets for the lease terms and the lease liabilities represent the Company’s obligation to make lease payments arising from the leases. The operating lease ROU assets and lease liabilities are recognized at each lease’s inception date based on the present value of lease payments over the lease term discounted based on the more readily determinable of (i) the rate implicit in the lease or (ii) the Company’s incremental borrowing rate, which is the estimated rate the Company would be required to pay for a collateralized borrowing equal to the total lease payments over the term of the lease. Because the

Company’s operating leases do not provide an implicit rate, the Company estimates its incremental borrowing rate at the lease commencement date for borrowings with a similar term.

The Company’s operating lease ROU assets are measured based on the corresponding operating lease liability adjusted for (i) payments made to the lessor at or before the commencement date, (ii) initial direct costs incurred, and (iii) tenant incentives under the lease. The Company does not assume renewals or early terminations unless it is reasonably certain to exercise these options at commencement. The Company monitors for events or changes in circumstances that require a reassessment of its leases. When a reassessment results in the remeasurement of a lease liability, an adjustment is made to the carrying amount of the corresponding ROU asset.

The Company does not allocate consideration between lease and non-lease components. The Company's lease agreements contain variable costs such as common area maintenance, operating expenses, or other costs. Variable lease payments are recognized in the period in which the obligation for those payments are incurred. In addition, the Company does not recognize ROU assets or operating lease liabilities for leases with a term of 12 months or less of all asset classes. Operating lease expense is recognized on a straight-line basis over each lease term.

Revenue Recognition

The Company recognizes revenue when it transfers promised goods or services to customers in an amount that reflects the consideration to which it expects to be entitled in exchange for those goods or services.

The Company’s consolidated revenue primarily comprises online sales of health and wellness products and services through the Company’s websites and mobile applications, including prescription and non-prescription products. In contracts that contain prescription products issued as the result of a consultation, revenue also includes medical consultation services and post-consultation service support provided by Affiliated Medical Groups (defined below). Additionally, the Company offers a range of health and wellness products through wholesale partners.

Revenue consists of the following (in thousands):


	Year Ended December 31,
	2024		2023		2022
Online Revenue	$	1,437,937	$	842,381	$	502,507
Wholesale Revenue	38,577		29,619		24,409
Total revenue	$	1,476,514	$	872,000	$	526,916

For Online Revenue, the Company defines its customer as an individual who purchases products or services through its websites or mobile applications. For Wholesale Revenue, the Company defines its customer as a wholesale partner, with the exception of consignment arrangements, where its customer is defined as an individual who purchases products through certain third-party platforms. The transaction price in the Company’s contracts with customers is the total amount of consideration to which the Company expects to be entitled in exchange for transferring products or services to the customer.

The Company’s contracts that contain prescription products issued as the result of a consultation primarily include the following performance obligations: access to (i) products, as well as medication adjustments, as applicable, and (ii) consultation services, as well as post-consultation service support, as applicable. The Company’s contracts that do not contain prescription products have a single performance obligation. Revenue is recognized at the time the related performance obligation is satisfied by transferring the promised product to the customer and, in contracts that contain services, by the provision of consultation services to the customer. The Company satisfies its performance obligation for products at a point in time, which is upon delivery of the products to a third-party carrier or wholesale customer warehouse. The Company satisfies its performance obligation for consultation services typically within one day and for post-consultation service support over the contract term. The customer obtains control of the products and services upon the Company’s completion of its performance obligations.

For contracts with multiple performance obligations, the transaction price is allocated to each performance obligation on a relative stand-alone selling price basis. The stand-alone selling price is based on the prices at which the Company separately sells the products and services, as well as market and cost plus estimates. For each of the years ended December 31, 2024, 2023, and 2022, service revenue, comprising consultation services and post-consultation service support, represented less than 10% of consolidated revenues.

To fulfill its promise to customers for contracts that include professional medical consultations, the Company maintains relationships with various “Affiliated Medical Groups,” which are professional corporations or other professional entities owned by licensed physicians and that engage licensed healthcare professionals (physicians, physician assistants, nurse practitioners, and mental health providers; collectively referred to as “Providers” or individually, a “Provider”) to provide consultation services. Refer to Note 11 – Variable Interest Entities. The Company accounts for service revenue as a principal in the arrangement with its customers. This conclusion is reached because (i) the Company determines which Affiliated Medical Group and Provider provides the consultation to the customer; (ii) the Company is primarily responsible for the satisfactory fulfillment and acceptability of the services; (iii) the Company incurs costs for consultation services even for visits that do not result in a prescription and the sale of products; and (iv) the Company, in its sole discretion, sets all listed prices charged on its websites and mobile applications for products and services.

Additionally, to fulfill its promise to customers for contracts that include sale of prescription products, the Company maintains relationships with (i) certain third-party pharmacies (“Partner Pharmacies” or individually, a “Partner Pharmacy”), (ii) XeCare, LLC (“XeCare”) and Apostrophe Pharmacy LLC (“Apostrophe Pharmacy”, and together with XeCare, the “Affiliated Pharmacies”), which are licensed mail order pharmacies providing prescription fulfillment solely to the Company’s customers; and (iii) Seaview Enterprises LLC (d/b/a MedisourceRx) (“MedisourceRx”), which is a wholly-owned licensed 503B compounding outsourcing facility. MedisourceRx manufactures products primarily for the Company’s customers, and the pharmacies, as licensed, fill prescription orders for customers who have received a prescription from a prescribing Provider through the Company’s websites and mobile applications. The Company accounts for prescription product revenue as a principal in the arrangement with its customers. This conclusion is reached because (i) the Company has sole discretion in determining which pharmacy fills a customer’s prescription; (ii) the pharmacies fill the prescription based on fulfillment instructions provided by the Company, including using the Company’s branded packaging for generic products; (iii) the Company is primarily responsible to the customer for the satisfactory fulfillment and acceptability of the order; (iv) the Company is responsible for refunds of the prescription medication after transfer of control to the customer; and (v) the Company, in its sole discretion, sets all listed prices charged on its websites and mobile applications for products and services.

The Company estimates refunds using the expected value method primarily based on historical refunds granted to customers. The Company updates its estimate at the end of each reporting period and recognizes the estimated amount as contra-revenue with a corresponding refund liability. Sales, value-added, and other taxes are excluded from the transaction price and, therefore, from revenue.

The Company accounts for shipping activities, consisting of direct costs to ship products performed after the control of a product has been transferred to the customer, in cost of revenue.

For online sales, payment for prescription medication and non-prescription products is collected from the customer in accordance with contract terms a few days in advance of product shipment, or in the case of prepaid offerings, upfront with subsequent shipments typically occurring monthly, quarterly, or semi-annually. Contract liabilities are recorded when payments have been received from the customer for undelivered products or services and are recognized as revenue when the performance obligations are later satisfied. Contract liabilities consisting of balances related to customer prepayments are recognized as current deferred revenue on the consolidated balance sheets since the associated revenue will be recognized within the following year. For wholesale arrangements, payments are collected in accordance with contract terms. As of December 31, 2024 and 2023, total deferred revenue was $75.3 million and $7.7 million, respectively. The increase of $67.6 million was primarily due to the impact of newer offerings introduced during 2024 along with an increase in the uptake by customers of prepaid offerings.

Cost of Revenue

Cost of revenue consists of costs directly attributable to the products shipped and services rendered, including product costs of purchased and manufactured products, packaging materials, shipping costs, labor costs directly related to revenue generating activities including medical consultation services and manufacturing labor, and overhead costs associated with manufactured products. Costs related to free products where there is no expectation of future purchases from a customer and depreciation and amortization on property, equipment, and software (other than related to manufactured products) are considered to be operating expenses and are excluded from cost of revenue.

Stock-Based Compensation

The fair value of stock options, equity-classified warrants issued to vendors, restricted stock units (“RSUs”), and performance RSUs (“PRSUs”) are measured at the grant date fair value. The fair value of employee stock options and vendor warrants are generally determined using the Black-Scholes Merton (“BSM”) option-pricing model using various inputs, including estimates of expected volatility, term, risk-free rate, and future dividends. Stock options that were granted to the Company’s CEO with performance and market conditions and earn-out RSUs were valued using the Monte Carlo simulation model. The Company recognizes compensation costs on a straight-line basis over the requisite service period of the employee and vendor, which is generally the vesting term of four years for options, warrants, and RSUs that do not have performance or market conditions. Stock options with performance conditions are recognized when it is probable that performance criteria will be achieved and compensation cost is recognized using the accelerated attribution method. PRSUs are recognized based on the probable level of achievement against the performance criteria. The Company accounts for forfeitures as they occur.

The Company’s Employee Stock Purchase Plan (“ESPP”) permits eligible employees to purchase the Company’s Class A common stock during pre-specified offering periods at a discount established by the compensation committee. The purchase price is 85% of the lower of the fair market value of the Company’s Class A common stock on the first trading day of the offering period and the fair market value on the purchase date. The ability to purchase shares of the Company’s Class A common stock for a discount represents an option and, therefore, the ESPP is considered a compensatory plan. Accordingly, stock-based compensation expense is determined based on the option’s grant-date fair value as estimated by applying the BSM option-pricing model and is recognized over the requisite service period, which is the withholding period.

Income Taxes

The Company accounts for income taxes using the asset and liability method. Under this method, deferred tax asset and liability account balances are determined based on differences between the financial reporting and tax reporting basis of assets and liabilities. These differences are measured using enacted tax rates and laws that will be in effect when the differences are expected to reverse. The Company recognizes the effect on deferred income taxes of a change in tax rates in the period that includes the enactment date.

The Company provides a valuation allowance, if necessary, to reduce its deferred tax assets to the net amount it believes is more likely than not to be realized. The Company considers both positive and negative evidence, including its historical operating results, forecasts of future taxable income on a jurisdiction-by-jurisdiction basis, and ongoing tax planning strategies, to ascertain the need for a valuation allowance. If and when the Company concludes that it is more likely than not to utilize some or all of its deferred tax assets, the Company releases some or all of its valuation allowance and its tax provision will decrease in the period in which the Company makes such determination, which will cause a corresponding one-time increase to net income.

The Company accounts for uncertain tax positions in accordance with the relevant guidance, which prescribes a two-step approach to recognize and measure uncertain tax positions taken or expected to be taken in the income tax return. The first step is to determine whether it is more likely than not that the tax position will be sustained on the basis of the technical merits of the position. The second step is to measure the tax benefit as the largest amount that is more than 50% likely to be realized upon ultimate settlement. The Company's policy is to include interest and penalties related to unrecognized tax benefits, if any, within the provision for taxes on the consolidated statement of operations.

Employee Benefit Plan

The Company has established a 401(k) plan that qualifies as a deferred compensation arrangement under Section 401 of the Internal Revenue Code. The Company contributes 50% of eligible employee’s elective deferrals up to an annual maximum of three thousand dollars per employee. The Company recognized matching contributions cost of $2.9 million, $2.0 million, and $1.2 million for the years ended December 31, 2024, 2023, and 2022, respectively.

Advertising

For the years ended December 31, 2024, 2023, and 2022, advertising costs for customer acquisition and content production were $604.6 million, $390.3 million, and $235.6 million, respectively, consisting primarily of customer acquisition expenses (comprising advertising and media costs associated with the Company’s efforts to acquire new customers, promote its brands, and build awareness for its products and services, including advertising in digital media, social media, television, radio, out-of-home media, and various other media outlets and excluding content production costs) of $594.5 million, $379.7 million, and $230.4 million, respectively, which are charged to expense as incurred and recorded within marketing expense on the consolidated statements of operations and comprehensive income (loss). The Company defers production costs associated with advertising campaigns until the airing of those campaigns.

Other Comprehensive (Loss) Income

The Company’s other comprehensive (loss) income is primarily impacted by foreign currency translation and available-for-sale investment fair value adjustments. The impact of foreign currency translation is affected by the translation of assets and liabilities of the Company’s United Kingdom foreign subsidiary, which is denominated in pounds sterling. The primary assets and liabilities affecting the adjustments are cash and cash equivalents, inventory, facility equipment, other assets, accounts payable and accrued liabilities. The impact of available-for-sale securities is primarily affected by unrecognized gains and losses related to fluctuations in the fair market value of the securities.

Liquidity

To date, the Company has financed its operations principally from revenue from the Hims & Hers platform and the sale of its equity. During the year ended December 31, 2024, the Company had positive cash flows from operating activities of $251.1 million and generated net income of $126.0 million. As of December 31, 2024, the Company had cash and cash equivalents of $220.6 million, short-term investments of $79.7 million, and an accumulated deficit of $242.1 million.

The Company believes that its existing cash resources, together with its availability under the Revolving Credit Facility (for more detail regarding the Revolving Credit Facility, see Note 19 – Subsequent Events), are sufficient for the Company to meet its obligations through at least one year from the date of issuance of the consolidated financial statements. Management considers that there are no conditions or events in the aggregate that raise substantial doubt about the entity’s ability to continue as a going concern for a period of at least one year from the date the consolidated financial statements are issued.

Recently Adopted Accounting Pronouncements

In November 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures. The amendments in this ASU expand reportable segment disclosure requirements, primarily through enhanced disclosures about significant segment expenses. ASU 2023-07 is effective for all public entities for annual periods beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024, with early adoption permitted. The Company adopted the ASU for the year ended December 31, 2024 using the retrospective approach. As a result of the adoption, the Company began including expanded segment disclosures related to operating expenses within Note 17 – Segments. The adoption of this ASU did not have a material impact on the Company’s consolidated financial statements.

Recently Issued Accounting Pronouncements

In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures. The amendments in this ASU expand income tax disclosure requirements, primarily through enhanced disclosures related to income taxes paid and the rate reconciliation. ASU 2023-09 is effective for all public entities for annual periods beginning after December 15, 2024, with early adoption permitted. The amendments in this ASU should be applied on a prospective basis and retrospective application is permitted. The Company is evaluating the method of adoption and the impact of this ASU on its consolidated financial statements and related disclosures.

In November 2024, the FASB issued ASU 2024-03, Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses. The amendments in this Update expand certain expense category disclosure requirements, primarily though enhanced disclosures about inventory purchases,

employee compensation, depreciation, amortization, and selling expenses. ASU 2024-03 is effective for all public entities for annual periods beginning after December 15, 2026, and interim periods beginning after December 15, 2027, with early adoption permitted. The amendments should be applied on a prospective basis and retrospective application is permitted. The Company is evaluating the method of adoption and the impact of this ASU on its consolidated financial statements and related disclosures.

Acquisitions

12 Months Ended

Dec. 31, 2024

Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]

Acquisitions

In September 2024, the Company satisfied all closing conditions of the executed purchase agreement to acquire all of the membership interests of MedisourceRx, a 503B compounding outsourcing facility registered with the Food and Drug Administration and located in the United States. The purchase price for accounting purposes was $31.0 million, including cash payments of $15.5 million and 976,341 shares of Class A common stock valued at $15.5 million. The Class A common stock is not subject to any vesting terms.

The Company also incurred acquisition costs of $1.4 million directly related to the acquisition which were recorded within general and administrative expenses on the consolidated statements of operations and comprehensive income (loss).

The acquisition was accounted for as a business combination under the acquisition method with the purchase price being allocated to tangible and identifiable intangible assets acquired and liabilities assumed based on their respective estimated fair values on the acquisition date. The fair value of the 503B pharmacy license was determined using the income approach. The following table summarizes the acquisition date fair values of assets acquired and liabilities assumed (in thousands):


503B pharmacy license	$	28,596
Goodwill	1,847
Other net assets	557
Net assets acquired	$	31,000

Amortization expense related to the 503B pharmacy license is recognized on a straight-line basis over the useful life of ten years, within operations and support expense on the consolidated statements of operations and comprehensive income (loss).

The excess of the consideration paid over the fair value of the net assets acquired is recorded as goodwill. The acquired goodwill of $1.8 million represents future economic benefits expected to arise from synergies from combining operations resulting in increased market presence of compounding capabilities and advanced expertise of compounding operations. The $1.8 million of goodwill recognized upon acquisition is expected to be deductible for U.S. income tax purposes.

The acquisition did not have a material impact on the Company’s revenue or earnings generated during the period after the acquisition date, and historical and pro forma disclosures have therefore not been presented.

Investments

12 Months Ended

Dec. 31, 2024

Investments, Debt and Equity Securities [Abstract]

Investments

Short-term investments as of December 31, 2024, consist of the following (in thousands):


	Adjusted Cost		Unrealized Gains		Unrealized Losses		Fair Value
U.S. Treasury bills	$	60,040	$	120	$	—	$	60,160
Corporate bonds	18,058		3		(1)		18,060
Government and government agency	1,446		1		—		1,447

Total short-term investments	$	79,544	$	124	$	(1)	$	79,667

Short-term investments as of December 31, 2023, consist of the following (in thousands):


	Adjusted Cost		Unrealized Gains		Unrealized Losses		Fair Value
U.S. Treasury bills	$	63,809	$	24	$	—	$	63,833
Corporate bonds	39,152		18		(1)		39,169
Government and government agency	20,624		—		(14)		20,610
Asset-backed bonds	705		1		—		706
Total short-term investments	$	124,290	$	43	$	(15)	$	124,318

Inventory

12 Months Ended

Dec. 31, 2024

Inventory Disclosure [Abstract]

Inventory

Inventory consists of the following (in thousands):


	December 31,
	2024		2023
Finished goods	$	35,077	$	15,221
Raw materials	29,350		7,243

Total inventory	$	64,427	$	22,464

Prepaid Expenses and Other Current Assets

12 Months Ended

Dec. 31, 2024

Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]

Prepaid Expenses and Other Current Assets

Prepaid expenses and other current assets consist of the following (in thousands):


	December 31,
	2024		2023
Prepaid expenses	$	16,172	$	10,665
Wholesale trade and other receivables, net	6,080		6,748
Other current assets	8,901		4,195
Total prepaid expenses and other current assets	$	31,153	$	21,608

Property, Equipment, and Software, Net

12 Months Ended

Dec. 31, 2024

Property, Plant and Equipment [Abstract]

Property, Equipment, and Software, Net

Property, equipment, and software, net consist of the following (in thousands):


	December 31,
	2024		2023
Purchased and internal-use software and website development	$	34,100	$	22,970
Facility equipment and other tangible property	27,785		8,254
Leasehold improvements	10,933		2,256
Assets not placed in service	33,764		14,907
Total property, equipment, and software	106,582		48,387
Less: accumulated depreciation and amortization	(24,499)		(12,244)
Total property, equipment, and software, net	$	82,083	$	36,143

Depreciation and amortization expense for property, equipment, and software was $13.3 million, $6.0 million, and $3.4 million for the years ended December 31, 2024, 2023, and 2022, respectively.

Impairment expense for property, equipment, and software was immaterial for each of the years ended December 31, 2024, 2023, and 2022.

Intangible Assets, Net

12 Months Ended

Dec. 31, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible Assets, Net

Intangible assets, net as of December 31, 2024 consist of the following (in thousands):


	Gross Amount		Accumulated Amortization and Impairment		Net Carrying Value		Weighted Average Remaining Useful Life (Years)
503B pharmacy license	$	28,596	$	(953)	$	27,643	9.7
Trade name	24,170		(9,256)		14,914		6.5
Other	4,786		(3,933)		853		6.0
Intangible assets, net	$	57,552	$	(14,142)	$	43,410	8.5

Intangible assets, net as of December 31, 2023 consist of the following (in thousands):


	Gross Amount		Accumulated Amortization and Impairment		Net Carrying Value		Weighted Average Remaining Useful Life (Years)
Trade name	$	24,170	$	(6,880)	$	17,290	7.4
Other	4,803		(3,519)		1,284		5.7
Intangible assets, net	$	28,973	$	(10,399)	$	18,574	7.3

Amortization expense for intangible assets was $3.8 million, $3.5 million, and $4.1 million for the years ended December 31, 2024, 2023, and 2022, respectively. Impairment expense for intangible assets was $0.7 million for the year ended December 31, 2022. There was no impairment expense for the years ended December 31, 2024 and 2023.

Amortization that will be charged to expense over the remaining life of the intangible assets subsequent to December 31, 2024 is as follows (in thousands):


2025	$	5,481
2026	5,334
2027	5,208
2028	5,208
2029 and thereafter	22,179
	$	43,410

Accrued Liabilities

12 Months Ended

Dec. 31, 2024

Accrued Liabilities and Other Liabilities [Abstract]

Accrued Liabilities

Accrued liabilities consist of the following (in thousands):


	December 31,
	2024		2023
Marketing	$	21,839	$	12,331
Payroll	12,067		7,888
Professional services	8,463		5,341
Other accruals	10,644		3,412
Total accrued liabilities	$	53,013	$	28,972

Operating Leases

12 Months Ended

Dec. 31, 2024

Leases [Abstract]

Operating Leases

The Company has various operating leases for fulfillment and corporate facilities with lease periods expiring between fiscal years 2025 and 2030, not including renewal options the Company is reasonably certain to exercise. The operating lease agreements provide for rental payments on a graduated basis and for options to renew, which could increase future minimum lease payments if exercised. The Company utilizes the reasonably certain threshold criteria in determining which options it will exercise. During the year ended December 31, 2024, a reassessment was triggered due to signing a lease for a new facility which is in close proximity to and also acts as an operational expansion of an existing facility, as well as investment in leasehold improvements in the existing facility. This resulted in the remeasurement of the lease liability and an adjustment of $0.9 million to the carrying amount of the corresponding ROU asset for the existing facility. During the year ended December 31, 2023, a reassessment of another of the Company’s leased facilities was triggered due to significant leasehold improvements. This resulted in the remeasurement of the lease liability and an adjustment of $5.7 million to the carrying amount of the corresponding ROU asset.

For the years ended December 31, 2024, 2023, and 2022, the Company recorded operating lease costs of $3.0 million, $2.4 million, and $1.9 million, respectively, including variable operating lease costs of $0.5 million, $0.4 million, and $0.3 million, respectively.

For the years ended December 31, 2024, 2023 and 2022, operating cash flows used for operating leases were $2.4 million, $1.9 million, and $1.6 million, respectively. As of December 31, 2024, the weighted average remaining lease term and weighted average discount rate were 5.5 years and 8.7%, respectively.

Future minimum lease payments under the Company's non-cancelable operating lease with an initial lease term in excess of one year subsequent to December 31, 2024 are as follows (in thousands):


2025	$	2,803
2026	2,866
2027	2,432
2028	2,121
2029	2,124
2030 and thereafter	2,043
Gross lease payments	14,389
Less: imputed interest	(3,044)
Present value of net future minimum lease payments	$	11,345

Variable Interest Entities	12 Months Ended
Variable Interest Entities	Dec. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Variable Interest Entities	Variable Interest Entities The variable interest entities (“VIEs”) are: (i) the Affiliated Medical Groups; and (ii) the Affiliated Pharmacies. The Company determined that it is the primary beneficiary of these entities for accounting purposes because it has the ability to direct the activities that most significantly affect the entities’ economic performance and has the obligation to absorb the losses. Under the VIE model, the Company presents the results of operations, cash flows, and the financial position of the VIEs as part of the consolidated financial statements of the Company as if the consolidated group were a single economic entity. The assets of the VIEs can only be used to settle the obligations of the VIEs. There is no noncontrolling interest upon consolidation of the entities. The results of operations and cash flows of the VIEs are also included in the Company’s consolidated financial statements. As of December 31, 2024 and 2023, the Company’s consolidated balance sheets included current and total assets of $56.1 million and $24.1 million, respectively, for the VIEs. As of December 31, 2024 and 2023, current and total liabilities were $16.6 million and $6.0 million, respectively. All amounts are after elimination of intercompany transactions, balances, and non-cash impact of operating leases. For the years ended December 31, 2024, 2023, and 2022, the VIEs charged $216.7 million, $96.3 million, and $64.2 million, respectively, for services rendered. For the years ended December 31, 2024, 2023, and 2022 operations of the VIEs generated a net loss of $26.2 million and net income of $3.3 million and $9.1 million, respectively, inclusive of administrative expenses.

Fair Value Measurements

12 Months Ended

Dec. 31, 2024

Fair Value Disclosures [Abstract]

Fair Value Measurements

The Company’s fair value hierarchy for its financial assets that are measured at fair value on a recurring basis as of December 31, 2024, is as follows (in thousands):


	Level 1		Level 2		Level 3		Total
Assets
Cash and cash equivalents:
Money market funds	$	64,717	$	—	$	—	$	64,717

Short-term investments:
U.S. Treasury bills	60,160		—		—		60,160
Corporate bonds	—		18,060		—		18,060
Government and government agency	—		1,447		—		1,447

Restricted cash:
Money market funds	856		—		—		856


Total assets	$	125,733	$	19,507	$	—	$	145,240

The Company’s fair value hierarchy for its financial assets and liabilities that are measured at fair value on a recurring basis as of December 31, 2023, is as follows (in thousands):


	Level 1		Level 2		Level 3		Total
Assets
Cash and cash equivalents:
Money market funds	$	42,492	$	—	$	—	$	42,492
Short-term investments:
U.S. Treasury bills	63,833		—		—		63,833
Corporate bonds	—		39,169		—		39,169
Government and government agency	—		20,610		—		20,610
Asset-backed bonds	—		706		—		706
Restricted cash:
Money market funds	856		—		—		856
Total assets	$	107,181	$	60,485	$	—	$	167,666

The fair values of cash, accounts receivable, accounts payable, and accrued liabilities approximated their carrying values as of December 31, 2024 and 2023, due to their short-term nature. All other financial instruments are valued either based on recent trades of securities in active markets or based on quoted market prices of similar instruments and other significant inputs derived from or corroborated by observable market data. During the years ended December 31, 2024, 2023, and 2022, the Company had no transfers between levels of the fair value hierarchy of its assets or liabilities measured at fair value.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 107
-Publisher FASB
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Reference 2: http://www.xbrl.org/2003/role/exampleRef
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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Reference 11: http://www.xbrl.org/2003/role/disclosureRef
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Reference 12: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org/1943274/2147478119/940-820-50-1

+ Details

Commitments and Contingencies	12 Months Ended
Commitments and Contingencies	Dec. 31, 2024
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Purchase Obligations The Company has non-cancelable contractual obligations with remaining terms in excess of one year to make future purchases, primarily related to cloud-based software contracts used in operations. As of December 31, 2024, non-cancelable purchase obligations with remaining terms in excess of one year were $22.0 million, with $7.1 million payable in 2025, $7.5 million payable in 2026, $7.2 million payable in 2027, and $0.1 million payable in each of 2028 and 2029. Lease Commitments Refer to Note 10 – Operating Leases for discussion of the Company’s future lease commitments. Legal Proceedings From time to time, the Company is a party to litigation, various claims, and other legal and administrative proceedings arising in the ordinary course of business. Some of these claims, lawsuits, and other proceedings may involve highly complex issues that are subject to substantial uncertainties, and could result in damages, fines, penalties, non-monetary sanctions, or relief. Management is not currently aware of any matters that are reasonably likely to have a material adverse impact on the Company’s business, financial position, results of operations, or cash flows.

Stockholders' Equity

12 Months Ended

Dec. 31, 2024

Share-Based Payment Arrangement [Abstract]

Stockholders' Equity

Stockholders’ Equity

Common Stock

The Company has two classes of common stock, Class A and Class V common stock. The rights are identical, including liquidation and dividend rights, except Class V common stock has additional voting rights.

Share Repurchase Program

On October 26, 2023, the Board of Directors authorized and approved a share repurchase program (the “2023 Share Repurchase Program”) pursuant to which the Company was authorized to repurchase up to $50.0 million of the Company’s Class A common stock. During the years ended December 31, 2024 and 2023, the Company repurchased and retired 3,632,123 and 237,458, respectively, shares of Class A common stock under the 2023 Share Repurchase Program for $48.0 million and $2.0 million, respectively. As of December 31, 2024, the entire $50.0 million originally available under the 2023 Share Repurchase Program has been utilized.

On July 24, 2024, the Board of Directors authorized and approved a new share repurchase program (the “2024 Share Repurchase Program”) pursuant to which the Company may repurchase up to $100.0 million of the Company’s Class A common stock. The 2024 Share Repurchase Program expires on August 31, 2027. The Company intends to use the 2024 Share Repurchase Program to repurchase shares on a discretionary basis from time to time, subject to general business and market conditions and other investment opportunities, through open market purchases, privately negotiated transactions or other means. The 2024 Share Repurchase Program may be suspended or discontinued at any time. During the year ended December 31, 2024, the Company repurchased and retired 2,135,919 shares of Class A common stock under the 2024 Share Repurchase program for $35.0 million. As of December 31, 2024, $65.0 million remains available under the 2024 Share Repurchase program.

RSU Releases

During the years ended December 31, 2024, 2023, and 2022, the Company released 6,829,961, 5,201,501, and 2,333,695 gross shares of Class A common stock, respectively, upon vesting of RSUs. In connection with the releases, 2,425,541, 1,729,045, and 701,584 shares of Class A common stock, respectively, were withheld for the payment of employee taxes.

2017 Stock Plan and 2020 Equity Incentive Plan

In July 2017, Hims, Inc. (“Hims”) adopted the 2017 Stock Plan (the “2017 Plan”). Under the 2017 Plan, the board of directors of Hims granted awards, including incentive stock options, non-statutory stock options, stock appreciation rights, restricted stock awards, RSU awards, and other stock awards to employees, directors, and consultants of Hims.

In January 2021, the Board of Directors adopted the 2020 Equity Incentive Plan (the “2020 Plan”) and reserved 21,000,000 authorized shares of Class A common stock the Company could issue. In addition, up to 19,000,000 shares of Hims Class A common stock subject to awards granted under the 2017 Plan that were forfeited, expired, or lapsed unexercised or unsettled could be added to the 2020 Plan reserve. Beginning on January 1, 2022 and ending on January 1, 2031, the number of authorized shares of common stock under the 2020 Plan will automatically increase each fiscal year by 5% of the total number of Class A and Class V common stock issued and outstanding on the last day of the preceding fiscal year unless the Board of

Directors approves a lesser number. As of December 31, 2023, there were 43,612,952 and 12,577,863 shares of Class A common stock reserved and available for issuance, respectively, under the 2020 Plan. For the year ended December 31, 2024, 73,238 shares of Class A common stock subject to awards granted under the 2017 Plan that were forfeited after the adoption of the 2020 Plan were added to the 2020 Plan reserve. Additionally, on January 1, 2024, 10,674,087 shares of Class A common stock were automatically added to the 2020 Plan reserve. Therefore, as of December 31, 2024, there were 54,360,277 shares of Class A common stock reserved and 15,162,111 shares of Class A common stock available for issuance under the 2020 Stock Plan. There were no more shares available for grant under the 2017 Plan since the 2017 Plan was replaced by the 2020 Plan.

2020 Employee Stock Purchase Plan

In January 2021, the Board of Directors adopted the Company’s Employee Stock Purchase Plan (“ESPP”). The total shares of Class A common stock initially reserved under the ESPP is limited to 4,000,000 shares of Class A common stock. Beginning on January 1, 2022 and ending on January 1, 2041 (unless extended by the Board of Directors and approved by the Company’s shareholders), the number of authorized shares of common stock under the ESPP will automatically increase each fiscal year by the lesser of (i) 1% of the total number of Class A and Class V common stock issued and outstanding on the last day of the preceding fiscal year, (ii) 12,000,000 shares of Class A common stock, or (iii) a number of shares of Class A common stock determined by the Board of Directors. As of December 31, 2023, there were 6,047,919 and 5,059,506 shares of Class A common stock reserved and available for issuance, respectively, under the ESPP. There were no shares added to the ESPP reserve on January 1, 2024. Therefore, as of December 31, 2024, there were 6,047,919 shares of Class A common stock reserved for issuance under the ESPP. During the years ended December 31, 2024, 2023, and 2022, the Company issued 617,563, 594,885, and 393,528 shares, respectively, of Class A common stock under the ESPP. As of December 31, 2024, there were 4,441,943 shares of Class A common stock available for issuance under the ESPP.

Under the ESPP, eligible employees may purchase the Company’s Class A common stock during pre-specified offering periods at a discount established by the Company’s compensation committee. The purchase price is 85% of the lower of the fair market value of the Company’s Class A common stock on the first trading day of the offering period or the fair market value on the purchase date. Under the ESPP, the Company may specify offering periods with durations of not more than 27 months, and may specify shorter purchase periods within each offering period.

Employees participating in the ESPP commence payroll withholdings that accumulate through the end of the respective offering period. As of December 31, 2024, $0.8 million has been withheld via employee payroll deductions for employees who have opted to participate in the purchase periods ending May 2025.

As of December 31, 2024, there was $4.1 million of unrecognized stock-based compensation related to the ESPP which is expected to be recognized over a weighted average period of 1.43 years.

Stock Options

The Company has historically granted stock options prior to 2024, which for new employees generally vest over four years, with 25% vesting one year after the vesting commencement date and then 1/48th of the total grant vesting monthly thereafter. Options granted to existing employees generally vest 1/48th of the total grant monthly over four years. Options granted are exercisable within a period not exceeding ten years from the grant date.

On June 17, 2020, the board of directors of Hims granted 3,246,139 and 1,623,070 stock options to the CEO with an exercise price of $2.43 to vest upon either (i) an acquisition of the Company with per share consideration equal to at least $22.99 and $38.31, respectively, or (ii) a per share price on a public stock exchange that is at least equal to $22.99 and $38.31, respectively. The CEO is required to be employed at the time the per share consideration/price is achieved in order to receive the awards, but the awards are not subject to any other service condition. The Company recognizes expense related to these awards based on the fair value and derived service period as measured using a Monte Carlo simulation model, and the expense is accelerated if the requirements outlined in (i) and (ii) above are achieved. The grant date fair value was $16.6 million for these awards. The $22.99 per share price threshold related to awards for the 3,246,139 stock options was achieved in February 2021. As of December 31, 2024, 3,059,124 of these stock options have been exercised at a weighted average exercise price of $2.43. As of December 31, 2024, all stock-based compensation expense for the awards have been recognized.

On February 24, 2022, the Board of Directors granted 2,085,640 stock options to the CEO with an exercise price of $5.01 that vest in four equal tranches. On each anniversary date after February 24, 2022, 25% of the shares subject to the options will vest

provided that (i) the CEO is employed on the anniversary date and (ii) the closing price of the Company’s Class A common stock is more than $10 per share in 20 of the 30 trading days prior to the anniversary date. The award is not subject to any other service condition. Vesting is cumulative in subsequent years if the market condition was not previously met. The Company recognizes expense related to this award for each tranche individually based on the fair value and requisite service period, which is the greater of the derived service period and the explicit service period. The fair value and the derived service term of the market condition were both measured using a Monte Carlo simulation model. The total grant date fair value was $3.8 million for this award. As of December 31, 2024, no shares have vested and there was $0.4 million of remaining compensation expense to be recognized over a period of 1.15 years.

There were no stock options granted during the year ended December 31, 2024. The grant date fair value of the Company’s stock options granted during the years ended December 31, 2023 and 2022 (excluding the stock options granted to the CEO outlined above) was estimated using the following weighted average assumptions:


	Year Ended December 31,
	2023		2022
Expected term (in years)	6.02		6.02
Expected volatility	49.9	%	48.0	%
Risk-free interest rate	4.2	%	2.0	%
Expected dividend yield	—	%	—	%

Option activity (excluding the stock options granted to the CEO outlined above) is as follows (in thousands, except for weighted average exercise price and weighted average contractual term in years):


	Shares	Weighted Average Exercise Price		Weighted Average Contractual Period (in Years)	Aggregate Intrinsic Value
Outstanding at December 31, 2023	13,784	$	5.14	7.14	$	57,972
Exercised	(4,002)	5.06
Forfeited and expired	(45)	9.61
Outstanding at December 31, 2024	9,737	5.15		6.33	185,326
Exercisable as of December 31, 2024	7,566	4.79		6.04	146,698

The weighted average grant date fair value of options granted for the years ended December 31, 2023 and 2022 was $6.09 and $2.44 per share, respectively. The intrinsic value of vested options exercised for the years ended December 31, 2024, 2023, and 2022 was $58.5 million, $6.2 million, and $6.3 million, respectively.

As of December 31, 2024, there was $6.6 million of unrecognized stock-based compensation related to unvested stock options (excluding the stock options granted to the CEO outlined above) which is expected to be recognized over a weighted average period of 1.42 years.

The options outstanding and exercisable as of December 31, 2024 (excluding the stock options granted to the CEO outlined above) have been aggregated into ranges for additional disclosure as follows (in thousands, except weighted average remaining contractual life and exercise price):


	Options Outstanding		Options Exercisable
Exercise Price	Shares	Weighted Average Remaining Contractual Life (in Years)	Shares	Weighted Average Remaining Contractual Life (in Years)
$0.06 – 0.40	361	3.16	361	3.16
1.55 – 1.75	496	4.52	496	4.52
2.43 – 3.11	2,486	5.43	2,486	5.43
5.01 – 6.82	4,358	7.17	2,612	7.15
8.13 – 11.53	1,781	6.69	1,399	6.33
12.21 – 15.17	255	6.23	212	6.20
	9,737		7,566

The options outstanding and exercisable as of December 31, 2023 (excluding the stock options granted to the CEO outlined above) have been aggregated into ranges for additional disclosure as follows (in thousands, except weighted average remaining contractual life and exercise price):


	Options Outstanding		Options Exercisable
Exercise Price	Shares	Weighted Average Remaining Contractual Life (in Years)	Shares	Weighted Average Remaining Contractual Life (in Years)
$0.06 – 0.40	1,422	4.23	1,422	4.23
1.55 – 1.75	760	5.37	760	5.37
2.43 – 3.11	2,751	6.43	2,751	6.43
5.01 – 6.82	5,913	8.18	2,690	8.18
8.13 – 9.41	2,127	7.68	1,499	7.20
12.21 – 15.17	811	7.32	566	7.31
	13,784		9,688

RSUs

RSUs for new employees generally vest over four years, with 25% vesting one year after the vesting commencement date on the first Company Quarterly Vesting Date (defined below) and the remaining grant vesting quarterly thereafter on the specified vesting dates of March 15, June 15, September 15, and December 15 (each, a “Company Quarterly Vesting Date” or collectively, “Company Quarterly Vesting Dates”). Additional RSUs granted to current employees generally vest quarterly on Company Quarterly Vesting Dates over four years.

RSU activity (excluding the performance RSUs outlined below) is as follows (in thousands, except for weighted average grant date fair value):


	Shares	Weighted Average Grant Date Fair Value
Unvested at December 31, 2023	14,483	$	8.08
Granted	9,540	14.74
Vested	(6,830)	9.22
Forfeited and expired	(1,436)	10.20
Unvested at December 31, 2024	15,757	$	11.45

Included in the above activity are 476,308 earn-out RSUs and 9,478 Parent Warrant RSUs issued to the CEO in January 2021 that vest in accordance with the same market conditions as the CEO stock options issued in June 2020, of which 317,539 earn-out RSUs and 6,319 Parent Warrant RSUs have vested as of December 31, 2024.

As of December 31, 2024, there was $169.0 million of unrecognized stock-based compensation related to unvested RSUs (excluding the performance RSUs outlined below) which is expected to be recognized over a weighted average period of 2.85 years.

Performance RSUs

On March 1, 2023, the Board of Directors granted awards of 1,115,709 target shares of performance RSUs (“PRSUs”) to certain executive officers. As of December 31, 2024, 11,408 shares subject to PRSUs have been forfeited. The PRSUs vest at the end of a three-year period, with the number of shares earned ranging from 0% to 200% of the target, provided that (i) the recipient remains employed at the end of the period and (ii) the Company achieves certain revenue and Adjusted EBITDA performance metrics related to the 2025 fiscal year. The total grant date fair value of the awards was $12.9 million, which was based on the probable achievement of 100% of the target.

On February 28, 2024, the Board of Directors granted awards of 1,218,467 target shares of PRSUs to certain executive officers and senior leadership, none of which have been forfeited as of December 31, 2024. The PRSUs vest at the end of a three-year period, with the number of shares earned ranging from 0% to 200% of the target, provided that (i) the recipient remains employed at the end of the period and (ii) the Company achieves certain revenue and Adjusted EBITDA performance metrics related to the 2026 fiscal year. The total grant date fair value of the awards was $16.2 million, which was based on the probable achievement of 100% of the target.

On November 6, 2024, the Board of Directors granted awards of 16,778 target shares of PRSUs to certain senior leadership, with the same vesting terms as the PRSUs granted on February 28, 2024, none of which have been forfeited as of December 31, 2024. The total grant date fair value of the awards was $0.4 million, which was based on the probable achievement of 100% of the target.

As of December 31, 2024, there was unrecognized stock-based compensation expense related to unvested PRSUs of $25.2 million, which is expected to be recognized over a weighted average period of 1.81 years. The Company will continue to evaluate the likelihood of achieving the performance metrics on a quarterly basis.

Warrants

The Company has historical Class A common stock warrants issued to nonemployees in connection with vendor service arrangements. As of December 31, 2024, there were 271,962 of these warrants outstanding and exercisable, with a weighted average exercise price of $1.75, a weighted average contractual term of 7.01 years, and an aggregate intrinsic value of $6.1 million. Upon the exercise of outstanding warrants, vendors also have the right to receive 26,603 shares of Class A common stock. During the year ended December 31, 2024, one of the holders exercised 190,373 of their outstanding warrants at a weighted average exercise price of $1.75. Upon the exercise of these warrants, the holder received an additional 18,622 shares of Class A common stock based on the terms of the earn-out arrangement. As of December 31, 2024, all stock-based compensation expense related to vendor warrants and associated earn-out shares has been recognized.

During the year ended December 31, 2024, all of the 98,723 outstanding Class A common stock warrants issued in connection with a historical debt arrangement, with a weighted average exercise price of $6.96, were net exercised for 52,639 shares of

Class A common stock. Upon the exercise of these warrants, the holders received an additional 9,657 shares of Class A common stock based on the terms of the earn-out arrangement. These debt warrants were previously settled in additional paid-in capital as a result of their conversion to equity-classified Class A common stock warrants.

Stock Subject to Vesting and Earn-out Share Liability

In June 2021, the Company granted 447,553 restricted shares of Class A common stock subject to vesting with an aggregate grant date fair value of $5.5 million in connection with the acquisition of Honest Health Limited, which is now Hims & Hers UK Limited (“HHL”). As part of the acquisition of HHL, the Company also recognized an earn-out liability based on the achievement of certain revenue targets. Vesting of the restricted shares and a portion of total earn-out payable to specific individuals are contingent on each recipient’s continued employment. Accordingly, the Company has recognized stock-based compensation expense related to these awards for the years ended December 31, 2024, 2023, and 2022. The expense is being recognized over a four-year vesting period with 25% vesting one year after the acquisition date and the remaining vesting quarterly thereafter. As of December 31, 2024, there was unrecognized stock-based compensation expense of $0.6 million, which will be recognized over a weighted average period of 0.44 years. During the year ended December 31, 2024, the Company settled its earn-out payable, a portion of which was settled through the issuance of 119,344 shares of Class A common stock.

In July 2021, the Company granted 2,332,557 restricted shares of Class A common stock subject to vesting with an aggregate grant date fair value of $24.2 million in connection with the acquisition of Apostrophe. Vesting of the restricted shares was contingent on each recipient’s continued employment. Accordingly, the Company has recognized stock-based compensation expense related to these awards for the years ended December 31, 2024, 2023, and 2022. The expense was recognized over a three-year vesting period with 17% vesting 6 months after the acquisition date and the remaining vesting quarterly thereafter. As of December 31, 2024, all stock-based compensation expense for these restricted shares has been recognized.

Stock-Based Compensation Expense

The following table summarizes stock-based compensation expense for employees and nonemployees, by category, on the consolidated statements of operations and comprehensive income (loss) for the years ended December 31, 2024, 2023, and 2022 (in thousands):


	Year Ended December 31,
	2024		2023		2022
Marketing	$	9,392	$	5,477	$	4,648
Operations and support	10,205		6,815		2,684
Technology and development	12,534		7,126		4,327
General and administrative	60,191		46,662		31,158
Total stock-based compensation expense	$	92,322	$	66,080	$	42,817

The Company capitalized $2.3 million, $1.7 million, and $0.6 million of stock-based compensation, as internal-use software for the years ended December 31, 2024, 2023, and 2022 , respectively.

Related-Party Transactions	12 Months Ended
Related-Party Transactions	Dec. 31, 2024
Related Party Transactions [Abstract]
Related-Party Transactions	Related-Party Transactions For the years ended December 31, 2024, 2023, and 2022, the Company recorded $4.1 million, $2.1 million, and $1.0 million, respectively, within operating expenses on the consolidated statements of operations and comprehensive income (loss) for payments made to Woolly Labs, Inc. (d/b/a Vouched), a related-party company that provides identity verification services. In addition, for the years ended December 31, 2023 and 2022, the Company recorded a total of $4.6 million and $3.6 million, respectively, within operating expenses on the consolidated statements of operations and comprehensive income (loss) for payments made to Terminal, Inc., a former related party company that provides professional services to the Company, primarily to support engineering and operations functions. As of January 1, 2024, Terminal, Inc. was no longer considered a related party.

- Definition

The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
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-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-07(2)(e))
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-URI https://asc.fasb.org/1943274/2147479134/946-220-S99-1

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+ Details

Basic and Diluted Net Income (Loss) per Share

12 Months Ended

Dec. 31, 2024

Earnings Per Share [Abstract]

Basic and Diluted Net Income (Loss) per Share

The Company uses the two-class method to calculate net income (loss) per share. No dividends were declared or paid for the years ended December 31, 2024, 2023, and 2022. Undistributed earnings for each period are allocated equally to participating securities based on the contractual participation rights of the security to share in the current earnings as if all current period earnings had been distributed. The Company’s basic net income (loss) per share is computed by dividing the net income (loss) attributable to common stockholders by the weighted average shares of common stock outstanding during period. The Company’s diluted net income (loss) per share is computed by dividing the net income (loss) attributable to common stockholders by the weighted average shares of common stock outstanding and, when dilutive, potential common shares outstanding during the period. The dilutive effect of potential common shares is reflected in diluted net income (loss) per share by application of the treasury stock method.

The following table sets forth the computation of the Company’s basic and diluted net income (loss) per share attributable to common stockholders (in thousands, except share and per share amounts):


	Year Ended December 31,
	2024				2023				2022
	Class A		Class V		Class A		Class V		Class A		Class V
Numerator:
Net income (loss) attributable to common stockholders, basic	$	121,148	$	4,890	$	(22,604)	$	(942)	$	(62,988)	$	(2,690)
Reallocation of undistributed earnings	431		(431)		—		—		—		—
Net income (loss) attributable to common stockholders, diluted	121,579		4,459		(22,604)		(942)		(62,988)		(2,690)

Denominator:
Weighted average shares outstanding, basic	207,561,414		8,377,623		200,967,089		8,377,623		196,138,497		8,377,623
Effect of dilutive potential common shares	20,869,839		—		—		—		—		—
Weighted average shares outstanding, diluted	228,431,253		8,377,623		200,967,089		8,377,623		196,138,497		8,377,623

Basic net income (loss) per share	$	0.58	$	0.58	$	(0.11)	$	(0.11)	$	(0.32)	$	(0.32)
Diluted net income (loss) per share	$	0.53	$	0.53	$	(0.11)	$	(0.11)	$	(0.32)	$	(0.32)

Basic net income (loss) per share is the same as diluted net income (loss) per share attributable to common stockholders for the years ended December 31, 2023 and 2022, because the inclusion of potential shares of common stock would have been anti-dilutive for the periods presented.

The following table discloses weighted-average Class A securities that were not included in the computation of diluted net income (loss) per share as their inclusion would have been anti-dilutive:


	Year Ended December 31,
	2024	2023	2022
RSUs	360,601	15,220,986	8,778,890
Stock options	156,558	21,278,043	20,470,391
Common stock issued subject to vesting	—	1,090,181	2,027,852
PRSUs	—	928,642	—
Warrants to purchase Class A common stock	—	561,058	561,058
Common stock issuable under the ESPP	—	404,648	603,603
Common stock issued for early exercise of stock options	—	—	70,257

There were no Class V securities that were excluded in the computation of diluted net income (loss) per share for the periods presented.

Segments

12 Months Ended

Dec. 31, 2024

Segment Reporting [Abstract]

Segments

The CODM utilizes net income (loss) as the measure of segment profit or loss. The CODM uses net income (loss) to evaluate return on assets and decide whether to reinvest profits into the segment or into other parts of the entity, such as for acquisitions.

In addition to the consolidated statements of operations and comprehensive income (loss), the CODM is regularly provided with financial information that includes the following captions when assessing the performance and allocation of resources: cost of revenue, customer acquisition costs (comprising advertising and media costs associated with the Company’s efforts to acquire new customers, promote its brands, and build awareness for its products and services, including advertising in digital media, social media, television, radio, out-of-home media, and various other media outlets and excluding content production costs), employee compensation (comprising salaries and wages, benefits, taxes, and performance bonuses, and excluding stock-based compensation) by operating expense caption, and stock-based compensation by operating expense caption. These are significant segment expenses, as they are regularly provided to the CODM.

The table below highlights the segment’s revenue, expenses, and net income (loss) for the years ended December 31, 2024, 2023, and 2022:


	Year Ended December 31,
	2024		2023		2022
Revenue	$	1,476,514	$	872,000	$	526,916
Less:
Cost of revenue	303,379		157,051		118,194
Customer acquisition costs	594,479		379,673		230,381
Employee compensation included within:
Marketing	35,672		26,530		16,503
Operations and support	73,239		48,192		25,478
Technology and development	39,565		24,322		14,750
General and administrative	48,189		40,990		27,063
Stock-based compensation included within:
Marketing	9,392		5,477		4,648
Operations and support	10,205		6,815		2,684
Technology and development	12,534		7,126		4,327
General and administrative	60,191		46,662		31,158
Depreciation and amortization expense included within operating expenses	15,350		9,515		7,474
Interest income	(10,349)		(9,029)		(2,610)
Income tax (benefit) expense	(54,327)		1,975		(31)
Other segment items*	212,957		150,247		112,575
Segment net income (loss)	126,038		(23,546)		(65,678)
Reconciliation of profit or loss
Adjustments and reconciling items	—		—		—
Consolidated net income (loss)	$	126,038	$	(23,546)	$	(65,678)

______________

(*) Other segment items included in segment net income (loss) primarily consist of professional services, fulfillment, transaction processing, selling, technology, and other general operating costs.

In addition to the segment’s operating results, the CODM is regularly provided with total assets as reported on the Company’s consolidated balance sheets as well as the expenditures for both purchases of property, equipment, and intangible assets, and investment in website and mobile application development and internal-use software, which are reported on the Company’s consolidated statements of cash flows and totaled $52.8 million, $26.5 million, and $7.2 million during the years ended December 31, 2024, 2023, and 2022, respectively.

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

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+ Details

Income Tax

12 Months Ended

Dec. 31, 2024

Income Tax Disclosure [Abstract]

Income Tax

For financial reporting purposes, income (loss) before income taxes includes the following (in thousands):


	Year Ended December 31,
	2024		2023		2022
Domestic	$	71,111	$	(16,749)	$	(62,539)
Foreign	600		(4,822)		(3,170)
Income (loss) before income taxes	$	71,711	$	(21,571)	$	(65,709)

The (benefit) provision for income taxes consisted of the following (in thousands):


	Year Ended December 31,
	2024		2023		2022
Current:
Federal	$	1,639	$	532	$	—
State	5,683		1,456		563
Total current provision	7,322		1,988		563
Deferred:
Federal	(43,328)		12		(339)
State	(18,321)		(25)		(110)
Foreign	—		—		(145)
Total deferred benefit	(61,649)		(13)		(594)
Total (benefit) provision for income taxes	$	(54,327)	$	1,975	$	(31)

The (benefit) provision for income taxes differs from the amounts computed by applying the statutory federal income tax rate of 21% to pretax income (loss) as follows (in thousands):


	Year Ended December 31,
	2024		2023		2022
Tax provision (benefit) at federal statutory rate	$	15,059	$	(4,530)	$	(13,799)
State taxes, net of federal benefits	2,700		1,636		(609)
Non-deductible officers' compensation	26,632		6,386		2,881
Non-deductible expenses	373		714		613
Transaction costs	—		—		(731)
Warrants and earn-outs	(1,141)		226		(15)
Research and development credits	(4,801)		(5,398)		—
Stock-based compensation	(28,361)		1,747		3,897
Change in valuation allowance	(65,021)		1,330		7,794
Other, net	233		(136)		(62)
Total	$	(54,327)	$	1,975	$	(31)

The components of deferred tax assets and liabilities are as follows (in thousands):


	As of December 31,
	2024		2023
Deferred tax assets:
Net operating loss carryforwards	$	22,764	$	53,309
Capitalized research and development	36,419		15,106
Inventory	6,131		1,890
Research and other credits	5,331		3,779
Accrued expenses and reserves	3,963		2,164
Operating lease liabilities	2,945		2,615
Stock-based compensation	2,425		3,572
Other intangible assets	289		350
Deferred revenue	192		124
Other deferred tax assets	907		87
Total gross deferred tax assets	81,366		82,996
Less valuation allowance	(2,493)		(70,506)
Total deferred tax assets	78,873		12,490
Deferred tax liabilities:
Fixed assets	(4,613)		(1,532)
Other intangible assets	(3,954)		(4,777)
Operating lease right-of-use assets	(2,824)		(2,519)
Prepaid expenses	(829)		(1,825)
Deferred state income tax	(3,846)		—
Other deferred tax liabilities	(1,204)		(1,859)
Total deferred tax liabilities	(17,270)		(12,512)
Net deferred tax assets (liabilities)	$	61,603	$	(22)

The Company determines its valuation allowance on deferred tax assets by considering both positive and negative evidence to ascertain whether it is more likely than not that deferred tax assets will be realized. Realization of deferred tax assets is dependent upon the generation of future taxable income, if any, the timing and amount of which are uncertain. Prior to 2024, the Company concluded that a valuation allowance was required against its deferred tax assets. The Company considers all available positive and negative evidence in its assessment of the recoverability of its deferred tax assets each reporting period. During 2024, the Company determined that a valuation allowance against its domestic deferred tax assets was no longer required, primarily due to sustained tax profitability (pre-tax earnings or loss adjusted by permanent book to tax differences) beginning in the fourth quarter of 2023 and continuing throughout 2024, which is objective and verifiable evidence, as well as anticipated future earnings. The Company continues to believe it is more likely than not that it will realize its domestic deferred tax assets. The Company’s judgment regarding the need for a valuation allowance may reasonably change in future reporting periods due to many factors, including changes in the level of tax profitability that the Company achieves and changes in tax laws or regulations. Additionally, income tax credit estimates could change in the near future due to changes in economic circumstances resulting in the pursuit of additional credits that currently would not be economically beneficial to pursue. The valuation allowance decreased by $68.0 million and increased by $1.1 million during the years ended December 31, 2024 and 2023, respectively. The decrease during the year ended December 31, 2024 was primarily related to the full release of the valuation allowance on the Company’s domestic deferred tax assets, a majority of which was recognized during the third quarter of 2024, partially offset by current period tax activity.

As of December 31, 2024, the Company has $60.8 million, $97.2 million, and $9.9 million in federal, state, and foreign loss carryforwards (not tax effected), respectively, of which $60.2 million, $3.3 million, and $9.9 million in federal, state, and foreign loss carryforwards do not expire. While an immaterial amount of state loss carryforwards expire in 2025, a substantial majority of state loss carryforwards begin to expire in 2030. As of December 31, 2024, the Company had $6.9 million of federal tax credit carryforwards, prior to the netting of uncertain tax positions, that will begin to expire in 2041, and $3.6 million of state tax credit carryforwards, prior to the netting of uncertain tax positions, that do not expire.

Internal Revenue Code Sections 382 and 383 place a limitation on the amount of taxable income that can be offset by carryforward tax attributes, such as net operating losses or tax credits, after a change in control. Generally, after a change in control, a loss corporation cannot deduct carryforward tax attributes in excess of the limitation prescribed by Sections 382 and 383. Therefore, certain of the Company’s carryforward tax attributes are subject to an annual limitation regarding their utilization against taxable income in future periods. As a result of issuances of different classes of preferred stock to investors in 2017 and 2018, the Company triggered “ownership change(s)” as defined in Section 382 and related provisions. Some of the Company’s net operating losses are limited by these ownership changes but the annual limitation does not have a significant impact on the consolidated financial statements. Subsequent ownership changes may subject the Company to annual limitations of its net operating losses. Such annual limitations could result in the expiration of the net operating loss and credit carryforwards before utilization.

The Company did not have any unrecognized tax benefits during the year ended December 31, 2022. Changes in unrecognized tax benefits for the years ended December 31, 2024 and 2023, excluding interest and penalties, were as follows (in thousands):


Balance at December 31, 2022	$	—
Increases in balances related to prior year tax positions	1,357
Increases in balances related to current year tax positions	956
Balance at December 31, 2023	2,313
Increases in balances related to prior year tax positions	2,042
Increases in balances related to current year tax positions	1,656
Balance at December 31, 2024	$	6,011

Although it is reasonably possible that certain unrecognized tax benefits may increase or decrease within the next 12 months due to tax examination changes, settlement activities, expirations of statute of limitations, or the impact on recognition and measurement considerations related to the results of published tax cases or other similar activities, the Company does not anticipate any significant changes to its unrecognized tax benefits over the next 12 months. Any adjustments to the Company’s uncertain tax positions would result in an adjustment to its deferred tax asset carryforwards rather than resulting in an impact to the effective tax rate. During the years ended December 31, 2024, 2023, and 2022, no interest or penalties were required to be recognized relating to unrecognized tax benefits.

The Company files income tax returns in the United States, United Kingdom, and various state and local jurisdictions. Due to the net operating loss carryforward, the statute of limitations is open for 2017 and forward for all jurisdictions, none of which are currently under examination by any tax authorities.

- Definition

The entire disclosure for income tax.

+ References

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Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 11.C)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479360/740-10-S99-2

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 30
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-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482603/740-30-50-2

+ Details

Subsequent Events	12 Months Ended
Subsequent Events	Dec. 31, 2024
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events In January 2025, the Company executed a 127-month non-cancelable lease for 289,463 square feet of office, warehouse, and pharmacy space in Mesa, Arizona. The lease includes a 7-month early entry period for tenant improvement work, along with a tenant improvement allowance of up to $4.3 million. Total minimum lease payments are $37.5 million, net of rent abatement for an initial 7-month period beginning after the early entry period, and with an annual escalation of between 3% and 4%. The Company has the option to extend the lease term for a period of 60 months. In February 2025, the Company satisfied all closing conditions of an asset purchase agreement, executed in December 2024, to acquire certain manufacturing assets from C S Bio Co., a company located in the United States, for total cash and Class A common stock consideration of up to approximately $65.0 million. The Company entered into the asset purchase agreement in order to strengthen its supply chain capabilities. The upfront cash and Class A common stock consideration is approximately $30.0 million, with an additional maximum of $5.0 million in Class A common stock consideration payable on the one year anniversary of closing in accordance with the terms of the asset purchase agreement. A maximum additional $30.0 million in cash and Class A common stock consideration is payable upon reaching certain earn-out conditions, which is subject to a continued service condition as defined in the agreement. The initial accounting for the transaction is incomplete at the date these financial statements are available to be issued, as the information necessary to complete such evaluation is in the process of being obtained and more thoroughly evaluated. The Company has not yet determined the accounting purchase price allocation of the purchase consideration described above, which includes evaluating the fair value of the acquired assets and assumed liabilities, and the valuation of contingent consideration to be transferred. To facilitate continued operation of the purchased manufacturing assets, the Company entered into a 120-month non-cancelable lease for a 38,483 square foot manufacturing facility located in Menlo Park, California. Total minimum lease payments are $43.5 million, with an annual escalation of 3.5%. The Company has the option to extend the lease term for a period of 60 months. In February 2025, the Company executed and satisfied all closing conditions of a purchase agreement to acquire all membership interests of Sigmund NJ, LLC, marketed as Trybe Labs, a lab testing services business located in the United States, for total cash consideration of $5.0 million. The Company entered into the purchase agreement to have the capacity to add lab testing capabilities to its platform in the future. In February 2025, the Company entered into a Revolving Credit and Guaranty Agreement with certain lenders and JPMorgan Chase Bank, N.A., as administrative and collateral agent, which provides for a three-year senior secured revolving line of credit in an amount up to $175.0 million (the “Revolving Credit Facility”). The Revolving Credit Facility includes letter of credit and swing line loan sub-limits of $40.0 million and $20.0 million, respectively, and an accordion option, which, if exercised, would allow the Company to increase the aggregate revolving commitment amount by up to $125.0 million, plus additional amounts if the Company is able to satisfy a leverage test and certain other conditions.

Pay vs Performance Disclosure - USD ($) $ in Thousands	12 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Pay vs Performance Disclosure
Net income (loss)	$ 126,038	$ (23,546)	$ (65,678)

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

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+ Details

Insider Trading Arrangements - Officer Trading Arrangement [Member]

3 Months Ended

12 Months Ended

Dec. 31, 2024

shares

Dec. 31, 2024

shares

Trading Arrangements, by Individual

Material Terms of Trading Arrangement

During the fiscal quarter ended December 31, 2024, none of our directors or officers adopted or terminated a “Rule 10b5-1 trading arrangement” or “non-Rule 10b5-1 trading arrangement,” as those terms are defined in Item 408 of Regulation S-K, except as described in the table below:

Name and Title of Insider

Adoption, Modification or Termination

Applicable Date

Duration of Trading Arrangement

Rule 10b5-1 Trading Arrangement?

(Y / N) (1)

Aggregate Number of Securities Subject to the Trading Arrangement

Melissa Baird, Chief Operating Officer

Adoption

11/26/2024

4/9/2025 - 9/17/2025

Y

400,000

Patrick H. Carroll, M.D., Chief Medical Officer and Director

Adoption

11/08/2024

3/17/2025 - 11/14/2025

Y

33,222

______________

(1)Denotes whether the trading plan is intended to satisfy the affirmative defense of Rule 10b5-1(c) when adopted.

Non-Rule 10b5-1 Arrangement Adopted

false

Rule 10b5-1 Arrangement Terminated

false

Non-Rule 10b5-1 Arrangement Terminated

false

Melissa Baird [Member]

Trading Arrangements, by Individual

Name

Melissa Baird

Title

Chief Operating Officer

Rule 10b5-1 Arrangement Adopted

true

11/26/2024

9/17/2025

161 days

400,000

Patrick H. Carroll [Member]

Trading Arrangements, by Individual

Name

Patrick H. Carroll, M.D.

Title

Chief Medical Officer and Director

Rule 10b5-1 Arrangement Adopted

true

11/08/2024

11/14/2025

242 days

33,222

Insider Trading Policies and Procedures	12 Months Ended
Insider Trading Policies and Procedures	Dec. 31, 2024
Insider Trading Policies and Procedures [Line Items]
Insider Trading Policies and Procedures Adopted	true

Cybersecurity Risk Management and Strategy Disclosure	12 Months Ended
Cybersecurity Risk Management and Strategy Disclosure	Dec. 31, 2024
Cybersecurity Risk Management, Strategy, and Governance [Line Items]
Cybersecurity Risk Management Processes for Assessing, Identifying, and Managing Threats [Text Block]	Customers, Providers, and vendors trust Hims & Hers to maintain a secure environment in which they can transact healthcare-related activities. This is addressed through a comprehensive set of policies, processes and controls focused on maintaining the confidentiality, integrity, and availability of our sensitive data and intellectual property. We have aligned with the National Institute of Standards and Technology (NIST) Cybersecurity Framework as our adopted security framework and utilize vendor-specific guidance and industry insights to supplement our approach. Cybersecurity risk management is a critical component of our overall enterprise risk management (ERM) program. We have implemented a comprehensive set of processes for assessing, identifying, and managing material risks from cybersecurity threats. We conduct continuous vulnerability scanning and periodic penetration tests to evaluate risks in key infrastructure and applications as part of ongoing cybersecurity management and in accordance with required regulatory practices. Any observations are ranked by severity and prioritized for response and remediation. Our cybersecurity risk management extends to risks associated with our use of third-party service providers. We evaluate vendor security through an integrated process with our legal team to assess security and privacy risks to the business. This integrated process helps ensure appropriate contract provisions and complementary controls are in place to protect our and our customers’ data. We execute this review process as we onboard a new vendor or renew a contract with an existing vendor, or when there are significant changes in the scope of services provided by the vendor. Key vendors are reassessed annually to confirm their control environment remains secure and meets our expectations. Our platform is continuously probed and attacked by malicious actors, and accordingly, the controls and practices utilized by our cybersecurity and technology teams have continued to evolve. We utilize a Security Information and Event Management (SIEM) tool and Security Operations Center (SOC) provider to actively support our ability to monitor, alert, and remediate issues on a continuous basis and to protect our company from material security breaches or unauthorized access to our environment. Additionally, we employ a dedicated cybersecurity team to closely work with the SOC, key vendors, and internal stakeholders to maintain familiarity with our operations and configure systems to alert on risks to the organization using industry and business insights. We closely monitor vendor and industry alerts to identify potential vulnerabilities and risks. These various threat and vulnerability alerts allow our cybersecurity team and trusted partners, such as hosting vendors and other critical service providers, to quickly respond to identified risks. Additionally, a periodic NIST-based risk assessment is performed by an independent third party to assist our cybersecurity team in confirming our cybersecurity control environment is in conformance with recognized cybersecurity industry frameworks and standards, as well as identifying any opportunities for enhancement. We also regularly train our employees on cybersecurity awareness, confidential information protection, and phishing attacks. While we have not experienced any material cybersecurity threats or incidents in recent years, there can be no guarantee that we will not be the subject of future threats or incidents. For a discussion of whether and how any risk from cybersecurity threats, including as a result of any previous cybersecurity incidents, have materially affected or are reasonably likely to materially affect us, including our business strategy, results of operations, or financial condition, see Part I, Item 1A: “Risk Factors,” which should be read in conjunction with this Part I, Item 1C.
Cybersecurity Risk Management Processes Integrated [Flag]	true
Cybersecurity Risk Management Processes Integrated [Text Block]	Customers, Providers, and vendors trust Hims & Hers to maintain a secure environment in which they can transact healthcare-related activities. This is addressed through a comprehensive set of policies, processes and controls focused on maintaining the confidentiality, integrity, and availability of our sensitive data and intellectual property. We have aligned with the National Institute of Standards and Technology (NIST) Cybersecurity Framework as our adopted security framework and utilize vendor-specific guidance and industry insights to supplement our approach. Cybersecurity risk management is a critical component of our overall enterprise risk management (ERM) program.
Cybersecurity Risk Management Third Party Engaged [Flag]	true
Cybersecurity Risk Third Party Oversight and Identification Processes [Flag]	true
Cybersecurity Risk Materially Affected or Reasonably Likely to Materially Affect Registrant [Flag]	false
Cybersecurity Risk Board of Directors Oversight [Text Block]	Our Board of Directors maintains overall oversight of our risk management. The Audit Committee is specifically tasked with reviewing cybersecurity and other information technology risks, controls, and procedures, including our plans to mitigate cybersecurity risks and to respond to data breaches. The Audit Committee also reviews with management any specific cybersecurity issues that could affect the adequacy of our internal controls. Our Head of Information Security reports to the Audit Committee on a quarterly basis on any relevant cybersecurity issues or risks, related controls, procedures and programming, material cybersecurity and data privacy incidents (if any), as well as any material updates to our cybersecurity risk management and strategy, broader cybersecurity trends, and relevant educational information.
Cybersecurity Risk Board Committee or Subcommittee Responsible for Oversight [Text Block]	We employ a cybersecurity team of seasoned professionals with direct experience in securing both large and small enterprises. The team is led by our Head of Information Security, who reports to the Chief Operating Officer (COO).
Cybersecurity Risk Process for Informing Board Committee or Subcommittee Responsible for Oversight [Text Block]	We employ a cybersecurity team of seasoned professionals with direct experience in securing both large and small enterprises. The team is led by our Head of Information Security, who reports to the Chief Operating Officer (COO). The Head of Information Security has nearly 20 years of experience in various technology leadership roles. Of these, the last 10 years have specifically focused on building, managing, and supporting robust security programs across highly regulated industries. The Head of Information Security holds relevant credentials through leading organizations including CISSP (ISC2), CCSP (ISC2), CRISC (ISACA), CCISO (EC-Council), and QTE (DDN). Other members of the cybersecurity leadership team have several years of direct experience in the security industry and hold relevant credentials from ISC2, ISACA, EC-Council, and CompTIA. Moreover, cybersecurity team members keep themselves current through continuing professional education. These individuals are informed about and monitor the prevention, mitigation, detection and remediation of cybersecurity incidents through their management of, and participation in, the cybersecurity risk management and strategy processes described above, which include escalation to the CCO and the Audit Committee, as appropriate.
Cybersecurity Risk Role of Management [Text Block]	We employ a cybersecurity team of seasoned professionals with direct experience in securing both large and small enterprises. The team is led by our Head of Information Security, who reports to the Chief Operating Officer (COO). The Head of Information Security has nearly 20 years of experience in various technology leadership roles. Of these, the last 10 years have specifically focused on building, managing, and supporting robust security programs across highly regulated industries. The Head of Information Security holds relevant credentials through leading organizations including CISSP (ISC2), CCSP (ISC2), CRISC (ISACA), CCISO (EC-Council), and QTE (DDN). Other members of the cybersecurity leadership team have several years of direct experience in the security industry and hold relevant credentials from ISC2, ISACA, EC-Council, and CompTIA. Moreover, cybersecurity team members keep themselves current through continuing professional education. These individuals are informed about and monitor the prevention, mitigation, detection and remediation of cybersecurity incidents through their management of, and participation in, the cybersecurity risk management and strategy processes described above, which include escalation to the CCO and the Audit Committee, as appropriate.
Cybersecurity Risk Management Positions or Committees Responsible [Flag]	true
Cybersecurity Risk Management Expertise of Management Responsible [Text Block]	Of these, the last 10 years have specifically focused on building, managing, and supporting robust security programs across highly regulated industries. The Head of Information Security holds relevant credentials through leading organizations including CISSP (ISC2), CCSP (ISC2), CRISC (ISACA), CCISO (EC-Council), and QTE (DDN). Other members of the cybersecurity leadership team have several years of direct experience in the security industry and hold relevant credentials from ISC2, ISACA, EC-Council, and CompTIA
Cybersecurity Risk Process for Informing Management or Committees Responsible [Text Block]	We employ a cybersecurity team of seasoned professionals with direct experience in securing both large and small enterprises. The team is led by our Head of Information Security, who reports to the Chief Operating Officer (COO). The Head of Information Security has nearly 20 years of experience in various technology leadership roles. Of these, the last 10 years have specifically focused on building, managing, and supporting robust security programs across highly regulated industries. The Head of Information Security holds relevant credentials through leading organizations including CISSP (ISC2), CCSP (ISC2), CRISC (ISACA), CCISO (EC-Council), and QTE (DDN). Other members of the cybersecurity leadership team have several years of direct experience in the security industry and hold relevant credentials from ISC2, ISACA, EC-Council, and CompTIA. Moreover, cybersecurity team members keep themselves current through continuing professional education. These individuals are informed about and monitor the prevention, mitigation, detection and remediation of cybersecurity incidents through their management of, and participation in, the cybersecurity risk management and strategy processes described above, which include escalation to the CCO and the Audit Committee, as appropriate.
Cybersecurity Risk Management Positions or Committees Responsible Report to Board [Flag]	true

Summary of Significant Accounting Policies (Policies)	12 Months Ended
Summary of Significant Accounting Policies (Policies)	Dec. 31, 2024
Accounting Policies [Abstract]
Basis of Presentation and Principles of Consolidation	The accompanying consolidated financial statements have been prepared pursuant to accounting principles generally accepted in the United States of America (“U.S. GAAP”). The consolidated financial statements include the accounts of the Company, its wholly-owned subsidiaries, and variable interest entities in which it is the primary beneficiary. All intercompany transactions and balances have been eliminated in the consolidated financial statements herein.
Use of Estimates	The preparation of consolidated financial statements in conformity with U.S. GAAP requires management to make estimates, judgments, and assumptions that affect the amounts reported in the financial statements and accompanying notes. The more significant estimates, judgments, and assumptions by management include, among others, valuation and recognition of stock-based compensation expense, valuation of contingent consideration in business combinations, purchase price allocation for business combinations, valuation of deferred tax assets, valuation of inventory, and estimates used in the capitalization of website development and internal-use software costs. Management believes that the estimates, judgments, and assumptions upon which it relies are reasonable based upon information available to it at the time that these estimates, judgments, and assumptions were made. Actual results experienced by the Company may differ from management’s estimates. To the extent that there are material differences between these estimates and actual results, the Company’s consolidated financial statements will be affected.
Risks and Uncertainties	The Company’s business, operations, and financial results are subject to various risks and uncertainties, including adverse United States economic conditions, legal restrictions, changes to the regulatory environment, changing laws for medical services and prescription products, decisions to outsource or modify portions of its supply chain, and competition in its industry, any of which could adversely affect its business, financial condition, results of operations, and cash flows. These significant factors, among others, could cause the Company’s future results to differ materially from the consolidated financial statements.
Concentration Risk	The Company’s financial instruments that are potentially exposed to concentrations of credit risk consist primarily of cash and cash equivalents, restricted cash, investments, and accounts receivable. The Company maintains its cash, cash equivalents, short-term investments, and restricted cash with high-quality financial institutions with investment-grade ratings. The majority of the cash balances are with U.S. banks and are insured to the extent defined by the Federal Deposit Insurance Corporation. The prescription products ordered on the Hims & Hers platform are primarily fulfilled by the Affiliated and Partner Pharmacies (as defined below). If any of the pharmacies were to stop fulfilling orders, it could significantly slow prescription product sales until fulfillment volume is redistributed to other operating pharmacies. The Company maintains agreements with these pharmacies and is continuing to invest in expanding affiliated pharmacy fulfillment capabilities to mitigate any such risk. Certain newer offerings on the Hims & Hers platform are primarily manufactured by one supplier. If this supplier stops fulfilling purchase orders, it could significantly slow the Company’s ability to fulfill these orders until new suppliers are onboarded and internal manufacturing capabilities are expanded. The Company maintains agreements with suppliers and is continuing to invest in expanding internal manufacturing capabilities to mitigate any such risk.
Foreign Currency Translation	The Company’s consolidated financial statements are presented in U.S. dollars. Adjustments resulting from translating foreign functional currency financial statements into U.S. dollars are presented as foreign currency translation adjustments, a component of other comprehensive (loss) income on the consolidated statements of operations and comprehensive income (loss).
Business Combinations	The Company accounts for its business combinations using the acquisition method of accounting. The purchase price is attributed to the fair value of the assets acquired and liabilities assumed. Transaction costs directly attributable to the acquisition are expensed as incurred. Identifiable assets and liabilities acquired or assumed are measured separately at their fair values as of the acquisition date. The excess of the purchase price of acquisition over the fair value of the identifiable net assets of the acquiree is recorded as goodwill. The results of businesses acquired in a business combination are included in the Company’s consolidated financial statements from the date of acquisition. When the Company issues stock-based or cash awards to an acquired company’s shareholders, the Company evaluates whether the awards are consideration or compensation for post-acquisition services. The evaluation includes, among other things, whether the vesting of the awards is contingent on the continued employment of the acquired company’s stockholders beyond the acquisition date. If continued employment is required for vesting, the awards are treated as compensation for post-acquisition services and recognized as expense over the requisite service period. Determining the fair value of assets acquired and liabilities assumed requires management to use significant judgment and estimates, including the selection of valuation methodologies, estimates of future revenue and cash flows, discount rates, and selection of comparable companies. The estimates and assumptions used to determine the fair values and useful lives of identified intangible assets could change due to numerous factors, including market conditions, technological developments, economic conditions, and competition. In connection with determination of fair values, the Company may engage a third-party valuation specialist to assist with the valuation of intangible and certain tangible assets acquired and certain assumed obligations. Any acquired assets from a business combination, including intangible assets, are continuously monitored and reviewed for potential impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. In such cases, recoverability of assets to be held and used is assessed by comparing the carrying amount of assets with their future underlying net undiscounted cash flows without interest charges. If such assets are considered to be impaired, an impairment is recognized as the amount by which the carrying amount of the assets exceeds the estimated fair values of the assets.
Segment Reporting	The Company is managed as a single operating segment on a consolidated basis, inclusive of acquisitions. The Company determines its operating segments based on how the chief operating decision maker (“CODM”) makes decisions regarding the allocation of resources and operational strategy, assesses performance, and manages the organization at a consolidated level. The Chief Executive Officer (“CEO”), is the CODM. The products and services from which this segment derives its revenues are described below in the discussion of revenue recognition.
Cash, Cash Equivalents, and Restricted Cash	The Company considers all highly liquid investments purchased with an original maturity or remaining maturity of three months or less at the date of purchase to be cash equivalents. The Company deposits its cash and cash equivalents with financial institutions. The restricted cash balance comprises cash collateral that is held by the Company’s primary financial institution to secure a letter of credit issued as a security deposit for the Company’s warehouse facility in New Albany, Ohio.
Investments	Available-for-sale debt instruments with original maturities at the date of purchase greater than three months and remaining maturities of less than one year are classified as short-term investments. Available-for-sale debt instruments with original maturities at the date of purchase and remaining maturities of greater than one year are classified as long-term investments. The Company intends to sell such investments, if any, at or close to maturity. The investments are designated as available-for-sale and are reported at fair value, with unrealized gains and losses, net of tax, recorded in other comprehensive (loss) income on the consolidated statements of operations and comprehensive income (loss), except for credit losses. The Company determines the cost of the investment sold based on specific identification at the individual security level. The Company records the interest income and realized gains and losses on the sale of these instruments within other income, net on the consolidated statements of operations and comprehensive income (loss).
Credit Losses	The Company considers whether unrealized losses have resulted from a credit loss or other factors. The unrealized losses on the Company’s available-for-sale securities for the years ended December 31, 2024, 2023, or 2022 were caused by fluctuations in market value and interest rates as a result of the economic environment. The Company concluded that an allowance for credit losses for its available-for-sale securities was unnecessary as of December 31, 2024 and 2023 because the decline in the market value was attributable to changes in market conditions and not credit quality, and that it is neither management’s intention to sell nor is it more likely than not that the Company will be required to sell these investments prior to recovery of their cost basis or recovery of fair value. There were no material realized gains or losses on available-for-sale securities in the periods presented.
Fair Value of Financial Instruments	The fair value of a financial instrument is based on the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Assets and liabilities subject to ongoing fair value measurement are categorized and disclosed into one of the three categories depending on observable or unobservable inputs employed in the measurement. Hierarchical levels, which are directly related to the amount of subjectivity associated with the inputs to the valuation of these assets or liabilities, are as follows: •Level 1: Inputs that are unadjusted, quoted prices in active markets for identical assets or liabilities at the measurement date. •Level 2: Inputs (other than quoted prices included in Level 1) that are either directly or indirectly observable for the asset or liability through correlation with market data at the measurement date and for the duration of the instrument’s anticipated life. •Level 3: Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities and that reflect management’s best estimate of what market participants would use in pricing the asset or liability at the measurement date. In some circumstances, the inputs used to measure fair value might be categorized within different levels of the fair value hierarchy. In those instances, the fair value measurement is categorized in its entirety in the fair value hierarchy based on the lowest level input that is significant to the fair value measurement.
Inventory	Inventory primarily consists of finished goods and raw materials that are located at Company-managed and third-party fulfillment warehouses and pharmacies. Inventory is stated at the lower of cost and net realizable value and inventory cost is determined by the weighted average cost method. The Company reserves for expired, slow-moving, and excess inventory by estimating the net realizable value based on the potential future use of such inventory. Management monitors inventory to identify events that would require impairment due to slow-moving, expired, or obsolete inventory and reduces the value of inventory when required. Obsolete inventory balances are written off against the inventory allowance when management determines that the inventory cannot be sold.
Prepaid Expenses and Other Current Assets	Prepaid expenses and other current assets consist of balances related to prepayments or vendor deposits for insurance, marketing, software, inventory and other operating costs, and trade and other accounts receivables. Prepaid expenses are recorded when payment has been made in advance for goods and services. Trade accounts receivable are recorded at the invoiced amount and do not bear interest. Receivables are stated at amounts estimated by management to be equal to their net realizable values. The allowance for doubtful accounts is the Company's best estimate of the amount of expected credit losses on its accounts receivable. The expectation of collectability is based on the Company's review of credit profiles of customers, contractual terms and conditions, current economic trends, and historical payment experience. If events or changes in circumstances indicate that specific receivable balances may be impaired, further consideration is given to the collectability of those balances and an allowance is recorded accordingly. Account balances are written off against the allowance after all means of collection have been exhausted and the potential for recovery is considered remote.
Property, Equipment, and Software, Net	Property, equipment, and software consist of purchased and internal-use software and website development, facility equipment and other tangible property, leasehold improvements, and assets not placed in service. Property, equipment, and software are depreciated or amortized using the straight-line method over the estimated useful lives ranging from two to ten years, with leasehold improvements depreciated over the shorter of their useful life or the related lease term. Property and equipment are recorded at cost, less accumulated depreciation and amortization. Maintenance and repair costs are charged to expense as incurred, and expenditures that extend the useful lives of assets are capitalized. Capitalizable website and mobile application development and internal-use software costs are recorded at cost, less amortization. The costs incurred during the website application and infrastructure stages as well as costs incurred during the graphics and content development stages are capitalized; all other costs are expensed as incurred. In addition, the Company incurs costs to develop software for internal use. The costs incurred during the application development phase are capitalized until the project is completed and the asset is ready for intended use. All costs that relate to the preliminary project and post-implementation operation phases of development are expensed as incurred.
Goodwill	Goodwill represents the excess of the purchase price over the fair value of the net tangible and intangible assets acquired in a business combination. Goodwill is not amortized but is tested for impairment annually in the fourth quarter or more frequently if events or changes in circumstances indicate that the asset may be impaired. The Company operates as one reporting unit. When testing goodwill for impairment, the Company may first perform an optional qualitative assessment. If the Company determines it is not more likely than not the reporting unit’s fair value is less than its carrying value, then no further analysis is necessary. If the Company determines that it is more likely than not that the fair value of its reporting unit is less than its carrying amount, then the quantitative impairment test will be performed. Under the quantitative impairment test, if the carrying amount of the Company’s reporting unit exceeds its fair value, the Company will recognize an impairment loss in an amount equal to that excess but limited to the total amount of goodwill.
Intangible Assets	Intangible assets, net primarily includes the 503B pharmacy license, trade name, customer relationships, and developed technology. The Company amortizes such definite-lived intangible assets on a straight-line basis over the assets’ estimated useful lives of two to ten years, within operating expenses on the consolidated statements of operations and comprehensive income (loss).
Impairment of Long-Lived Assets	Long-lived assets include property, equipment, and software and intangible assets subject to amortization. Long-lived assets are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset group may not be recoverable. In such cases, recoverability of asset groups to be held and used is assessed by comparing the carrying amount of the asset group with its future underlying net undiscounted cash flows without interest charges. If such asset group is are considered to be impaired, an impairment is recognized as the amount by which the carrying amount of the asset group exceeds the estimated fair values of the asset group. The Company recognized immaterial impairment charges on long-lived assets during each of the years ended December 31, 2024 and 2023 and $1.1 million of impairment charges on long-lived assets during the year ended December 31, 2022. These charges are included in general and administrative expenses on the consolidated statements of operations and comprehensive income (loss). As a result of the continued integration of YoDerm, Inc. (“Apostrophe”) since the acquisition, the Company concluded it was a single asset group as of January 1, 2024.
Operating Leases	The Company determines if an arrangement contains a lease at inception based on whether there is identified property, plant, or equipment and whether the Company controls the use of the identified asset throughout the period of use. The Company leases facilities for fulfillment and corporate purposes under non-cancelable operating leases with expiration dates between fiscal years 2025 and 2030, not including renewal options the Company is reasonably certain to exercise. The Company's operating leases are reflected in the operating lease right-of-use (“ROU”) assets and in the operating lease liabilities in the accompanying consolidated balance sheets. The operating lease ROU assets represent the Company’s right to use the underlying assets for the lease terms and the lease liabilities represent the Company’s obligation to make lease payments arising from the leases. The operating lease ROU assets and lease liabilities are recognized at each lease’s inception date based on the present value of lease payments over the lease term discounted based on the more readily determinable of (i) the rate implicit in the lease or (ii) the Company’s incremental borrowing rate, which is the estimated rate the Company would be required to pay for a collateralized borrowing equal to the total lease payments over the term of the lease. Because the Company’s operating leases do not provide an implicit rate, the Company estimates its incremental borrowing rate at the lease commencement date for borrowings with a similar term. The Company’s operating lease ROU assets are measured based on the corresponding operating lease liability adjusted for (i) payments made to the lessor at or before the commencement date, (ii) initial direct costs incurred, and (iii) tenant incentives under the lease. The Company does not assume renewals or early terminations unless it is reasonably certain to exercise these options at commencement. The Company monitors for events or changes in circumstances that require a reassessment of its leases. When a reassessment results in the remeasurement of a lease liability, an adjustment is made to the carrying amount of the corresponding ROU asset. The Company does not allocate consideration between lease and non-lease components. The Company's lease agreements contain variable costs such as common area maintenance, operating expenses, or other costs. Variable lease payments are recognized in the period in which the obligation for those payments are incurred. In addition, the Company does not recognize ROU assets or operating lease liabilities for leases with a term of 12 months or less of all asset classes. Operating lease expense is recognized on a straight-line basis over each lease term.
Revenue Recognition	The Company recognizes revenue when it transfers promised goods or services to customers in an amount that reflects the consideration to which it expects to be entitled in exchange for those goods or services. The Company’s consolidated revenue primarily comprises online sales of health and wellness products and services through the Company’s websites and mobile applications, including prescription and non-prescription products. In contracts that contain prescription products issued as the result of a consultation, revenue also includes medical consultation services and post-consultation service support provided by Affiliated Medical Groups (defined below). Additionally, the Company offers a range of health and wellness products through wholesale partners. For Online Revenue, the Company defines its customer as an individual who purchases products or services through its websites or mobile applications. For Wholesale Revenue, the Company defines its customer as a wholesale partner, with the exception of consignment arrangements, where its customer is defined as an individual who purchases products through certain third-party platforms. The transaction price in the Company’s contracts with customers is the total amount of consideration to which the Company expects to be entitled in exchange for transferring products or services to the customer. The Company’s contracts that contain prescription products issued as the result of a consultation primarily include the following performance obligations: access to (i) products, as well as medication adjustments, as applicable, and (ii) consultation services, as well as post-consultation service support, as applicable. The Company’s contracts that do not contain prescription products have a single performance obligation. Revenue is recognized at the time the related performance obligation is satisfied by transferring the promised product to the customer and, in contracts that contain services, by the provision of consultation services to the customer. The Company satisfies its performance obligation for products at a point in time, which is upon delivery of the products to a third-party carrier or wholesale customer warehouse. The Company satisfies its performance obligation for consultation services typically within one day and for post-consultation service support over the contract term. The customer obtains control of the products and services upon the Company’s completion of its performance obligations. For contracts with multiple performance obligations, the transaction price is allocated to each performance obligation on a relative stand-alone selling price basis. The stand-alone selling price is based on the prices at which the Company separately sells the products and services, as well as market and cost plus estimates. For each of the years ended December 31, 2024, 2023, and 2022, service revenue, comprising consultation services and post-consultation service support, represented less than 10% of consolidated revenues. To fulfill its promise to customers for contracts that include professional medical consultations, the Company maintains relationships with various “Affiliated Medical Groups,” which are professional corporations or other professional entities owned by licensed physicians and that engage licensed healthcare professionals (physicians, physician assistants, nurse practitioners, and mental health providers; collectively referred to as “Providers” or individually, a “Provider”) to provide consultation services. Refer to Note 11 – Variable Interest Entities. The Company accounts for service revenue as a principal in the arrangement with its customers. This conclusion is reached because (i) the Company determines which Affiliated Medical Group and Provider provides the consultation to the customer; (ii) the Company is primarily responsible for the satisfactory fulfillment and acceptability of the services; (iii) the Company incurs costs for consultation services even for visits that do not result in a prescription and the sale of products; and (iv) the Company, in its sole discretion, sets all listed prices charged on its websites and mobile applications for products and services. Additionally, to fulfill its promise to customers for contracts that include sale of prescription products, the Company maintains relationships with (i) certain third-party pharmacies (“Partner Pharmacies” or individually, a “Partner Pharmacy”), (ii) XeCare, LLC (“XeCare”) and Apostrophe Pharmacy LLC (“Apostrophe Pharmacy”, and together with XeCare, the “Affiliated Pharmacies”), which are licensed mail order pharmacies providing prescription fulfillment solely to the Company’s customers; and (iii) Seaview Enterprises LLC (d/b/a MedisourceRx) (“MedisourceRx”), which is a wholly-owned licensed 503B compounding outsourcing facility. MedisourceRx manufactures products primarily for the Company’s customers, and the pharmacies, as licensed, fill prescription orders for customers who have received a prescription from a prescribing Provider through the Company’s websites and mobile applications. The Company accounts for prescription product revenue as a principal in the arrangement with its customers. This conclusion is reached because (i) the Company has sole discretion in determining which pharmacy fills a customer’s prescription; (ii) the pharmacies fill the prescription based on fulfillment instructions provided by the Company, including using the Company’s branded packaging for generic products; (iii) the Company is primarily responsible to the customer for the satisfactory fulfillment and acceptability of the order; (iv) the Company is responsible for refunds of the prescription medication after transfer of control to the customer; and (v) the Company, in its sole discretion, sets all listed prices charged on its websites and mobile applications for products and services. The Company estimates refunds using the expected value method primarily based on historical refunds granted to customers. The Company updates its estimate at the end of each reporting period and recognizes the estimated amount as contra-revenue with a corresponding refund liability. Sales, value-added, and other taxes are excluded from the transaction price and, therefore, from revenue. The Company accounts for shipping activities, consisting of direct costs to ship products performed after the control of a product has been transferred to the customer, in cost of revenue. For online sales, payment for prescription medication and non-prescription products is collected from the customer in accordance with contract terms a few days in advance of product shipment, or in the case of prepaid offerings, upfront with subsequent shipments typically occurring monthly, quarterly, or semi-annually. Contract liabilities are recorded when payments have been received from the customer for undelivered products or services and are recognized as revenue when the performance obligations are later satisfied. Contract liabilities consisting of balances related to customer prepayments are recognized as current deferred revenue on the consolidated balance sheets since the associated revenue will be recognized within the following year. For wholesale arrangements, payments are collected in accordance with contract terms. As of December 31, 2024 and 2023, total deferred revenue was $75.3 million and $7.7 million, respectively. The increase of $67.6 million was primarily due to the impact of newer offerings introduced during 2024 along with an increase in the uptake by customers of prepaid offerings.
Cost of Revenue	Cost of revenue consists of costs directly attributable to the products shipped and services rendered, including product costs of purchased and manufactured products, packaging materials, shipping costs, labor costs directly related to revenue generating activities including medical consultation services and manufacturing labor, and overhead costs associated with manufactured products. Costs related to free products where there is no expectation of future purchases from a customer and depreciation and amortization on property, equipment, and software (other than related to manufactured products) are considered to be operating expenses and are excluded from cost of revenue.
Stock-based Compensation	The fair value of stock options, equity-classified warrants issued to vendors, restricted stock units (“RSUs”), and performance RSUs (“PRSUs”) are measured at the grant date fair value. The fair value of employee stock options and vendor warrants are generally determined using the Black-Scholes Merton (“BSM”) option-pricing model using various inputs, including estimates of expected volatility, term, risk-free rate, and future dividends. Stock options that were granted to the Company’s CEO with performance and market conditions and earn-out RSUs were valued using the Monte Carlo simulation model. The Company recognizes compensation costs on a straight-line basis over the requisite service period of the employee and vendor, which is generally the vesting term of four years for options, warrants, and RSUs that do not have performance or market conditions. Stock options with performance conditions are recognized when it is probable that performance criteria will be achieved and compensation cost is recognized using the accelerated attribution method. PRSUs are recognized based on the probable level of achievement against the performance criteria. The Company accounts for forfeitures as they occur. The Company’s Employee Stock Purchase Plan (“ESPP”) permits eligible employees to purchase the Company’s Class A common stock during pre-specified offering periods at a discount established by the compensation committee. The purchase price is 85% of the lower of the fair market value of the Company’s Class A common stock on the first trading day of the offering period and the fair market value on the purchase date. The ability to purchase shares of the Company’s Class A common stock for a discount represents an option and, therefore, the ESPP is considered a compensatory plan. Accordingly, stock-based compensation expense is determined based on the option’s grant-date fair value as estimated by applying the BSM option-pricing model and is recognized over the requisite service period, which is the withholding period.
Income Taxes	The Company accounts for income taxes using the asset and liability method. Under this method, deferred tax asset and liability account balances are determined based on differences between the financial reporting and tax reporting basis of assets and liabilities. These differences are measured using enacted tax rates and laws that will be in effect when the differences are expected to reverse. The Company recognizes the effect on deferred income taxes of a change in tax rates in the period that includes the enactment date. The Company provides a valuation allowance, if necessary, to reduce its deferred tax assets to the net amount it believes is more likely than not to be realized. The Company considers both positive and negative evidence, including its historical operating results, forecasts of future taxable income on a jurisdiction-by-jurisdiction basis, and ongoing tax planning strategies, to ascertain the need for a valuation allowance. If and when the Company concludes that it is more likely than not to utilize some or all of its deferred tax assets, the Company releases some or all of its valuation allowance and its tax provision will decrease in the period in which the Company makes such determination, which will cause a corresponding one-time increase to net income. The Company accounts for uncertain tax positions in accordance with the relevant guidance, which prescribes a two-step approach to recognize and measure uncertain tax positions taken or expected to be taken in the income tax return. The first step is to determine whether it is more likely than not that the tax position will be sustained on the basis of the technical merits of the position. The second step is to measure the tax benefit as the largest amount that is more than 50% likely to be realized upon ultimate settlement. The Company's policy is to include interest and penalties related to unrecognized tax benefits, if any, within the provision for taxes on the consolidated statement of operations.
Employee Benefit Plan	The Company has established a 401(k) plan that qualifies as a deferred compensation arrangement under Section 401 of the Internal Revenue Code. The Company contributes 50% of eligible employee’s elective deferrals up to an annual maximum of three thousand dollars per employee.
Advertising	For the years ended December 31, 2024, 2023, and 2022, advertising costs for customer acquisition and content production were $604.6 million, $390.3 million, and $235.6 million, respectively, consisting primarily of customer acquisition expenses (comprising advertising and media costs associated with the Company’s efforts to acquire new customers, promote its brands, and build awareness for its products and services, including advertising in digital media, social media, television, radio, out-of-home media, and various other media outlets and excluding content production costs) of $594.5 million, $379.7 million, and $230.4 million, respectively, which are charged to expense as incurred and recorded within marketing expense on the consolidated statements of operations and comprehensive income (loss). The Company defers production costs associated with advertising campaigns until the airing of those campaigns.
Other Comprehensive (Loss) Income	The Company’s other comprehensive (loss) income is primarily impacted by foreign currency translation and available-for-sale investment fair value adjustments. The impact of foreign currency translation is affected by the translation of assets and liabilities of the Company’s United Kingdom foreign subsidiary, which is denominated in pounds sterling. The primary assets and liabilities affecting the adjustments are cash and cash equivalents, inventory, facility equipment, other assets, accounts payable and accrued liabilities. The impact of available-for-sale securities is primarily affected by unrecognized gains and losses related to fluctuations in the fair market value of the securities
Liquidity	To date, the Company has financed its operations principally from revenue from the Hims & Hers platform and the sale of its equity. The Company believes that its existing cash resources, together with its availability under the Revolving Credit Facility (for more detail regarding the Revolving Credit Facility, see Note 19 – Subsequent Events), are sufficient for the Company to meet its obligations through at least one year from the date of issuance of the consolidated financial statements. Management considers that there are no conditions or events in the aggregate that raise substantial doubt about the entity’s ability to continue as a going concern for a period of at least one year from the date the consolidated financial statements are issued.
Recently Adopted and Issued Accounting Pronouncements	Recently Adopted Accounting Pronouncements In November 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures. The amendments in this ASU expand reportable segment disclosure requirements, primarily through enhanced disclosures about significant segment expenses. ASU 2023-07 is effective for all public entities for annual periods beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024, with early adoption permitted. The Company adopted the ASU for the year ended December 31, 2024 using the retrospective approach. As a result of the adoption, the Company began including expanded segment disclosures related to operating expenses within Note 17 – Segments. The adoption of this ASU did not have a material impact on the Company’s consolidated financial statements. Recently Issued Accounting Pronouncements In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures. The amendments in this ASU expand income tax disclosure requirements, primarily through enhanced disclosures related to income taxes paid and the rate reconciliation. ASU 2023-09 is effective for all public entities for annual periods beginning after December 15, 2024, with early adoption permitted. The amendments in this ASU should be applied on a prospective basis and retrospective application is permitted. The Company is evaluating the method of adoption and the impact of this ASU on its consolidated financial statements and related disclosures. In November 2024, the FASB issued ASU 2024-03, Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses. The amendments in this Update expand certain expense category disclosure requirements, primarily though enhanced disclosures about inventory purchases, employee compensation, depreciation, amortization, and selling expenses. ASU 2024-03 is effective for all public entities for annual periods beginning after December 15, 2026, and interim periods beginning after December 15, 2027, with early adoption permitted. The amendments should be applied on a prospective basis and retrospective application is permitted. The Company is evaluating the method of adoption and the impact of this ASU on its consolidated financial statements and related disclosures.

Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2024

Accounting Policies [Abstract]

Schedule of Capitalized Computer Software, Expected Amortization

The following table summarizes the estimated amortization of website development and internal-use software costs subsequent to December 31, 2024 (in thousands):


2025	$	9,453
2026	6,970
2027	2,756
Total	$	19,179

Disaggregation of Revenue

Revenue consists of the following (in thousands):


	Year Ended December 31,
	2024		2023		2022
Online Revenue	$	1,437,937	$	842,381	$	502,507
Wholesale Revenue	38,577		29,619		24,409
Total revenue	$	1,476,514	$	872,000	$	526,916

Acquisitions (Tables)

12 Months Ended

Dec. 31, 2024

Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed

The following table summarizes the acquisition date fair values of assets acquired and liabilities assumed (in thousands):


503B pharmacy license	$	28,596
Goodwill	1,847
Other net assets	557
Net assets acquired	$	31,000

Investments (Tables)

12 Months Ended

Dec. 31, 2024

Investments, Debt and Equity Securities [Abstract]

Schedule of short term investments

Short-term investments as of December 31, 2024, consist of the following (in thousands):


	Adjusted Cost		Unrealized Gains		Unrealized Losses		Fair Value
U.S. Treasury bills	$	60,040	$	120	$	—	$	60,160
Corporate bonds	18,058		3		(1)		18,060
Government and government agency	1,446		1		—		1,447

Total short-term investments	$	79,544	$	124	$	(1)	$	79,667

Short-term investments as of December 31, 2023, consist of the following (in thousands):


	Adjusted Cost		Unrealized Gains		Unrealized Losses		Fair Value
U.S. Treasury bills	$	63,809	$	24	$	—	$	63,833
Corporate bonds	39,152		18		(1)		39,169
Government and government agency	20,624		—		(14)		20,610
Asset-backed bonds	705		1		—		706
Total short-term investments	$	124,290	$	43	$	(15)	$	124,318

- Definition

Tabular disclosure of investment in debt security measured at fair value with change in fair value recognized in other comprehensive income (available-for-sale).

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-9

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-3

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-2

Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-2

Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-2

Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (aa)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-2

Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (aaa)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-2

Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-2

Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-3

Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-3

Reference 11: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-3

Reference 12: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-3

+ Details

Inventory (Tables)

12 Months Ended

Dec. 31, 2024

Inventory Disclosure [Abstract]

Schedule of Inventory, Current

Inventory consists of the following (in thousands):


	December 31,
	2024		2023
Finished goods	$	35,077	$	15,221
Raw materials	29,350		7,243

Total inventory	$	64,427	$	22,464

Prepaid Expenses and Other Current Assets (Tables)

12 Months Ended

Dec. 31, 2024

Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]

Prepaid Expenses and Other Current Assets

Prepaid expenses and other current assets consist of the following (in thousands):


	December 31,
	2024		2023
Prepaid expenses	$	16,172	$	10,665
Wholesale trade and other receivables, net	6,080		6,748
Other current assets	8,901		4,195
Total prepaid expenses and other current assets	$	31,153	$	21,608

Property, Equipment, and Software, Net (Tables)

12 Months Ended

Dec. 31, 2024

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment

Property, equipment, and software, net consist of the following (in thousands):


	December 31,
	2024		2023
Purchased and internal-use software and website development	$	34,100	$	22,970
Facility equipment and other tangible property	27,785		8,254
Leasehold improvements	10,933		2,256
Assets not placed in service	33,764		14,907
Total property, equipment, and software	106,582		48,387
Less: accumulated depreciation and amortization	(24,499)		(12,244)
Total property, equipment, and software, net	$	82,083	$	36,143

Intangible Assets, Net (Tables)

12 Months Ended

Dec. 31, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Finite-Lived Intangible Assets

Intangible assets, net as of December 31, 2024 consist of the following (in thousands):


	Gross Amount		Accumulated Amortization and Impairment		Net Carrying Value		Weighted Average Remaining Useful Life (Years)
503B pharmacy license	$	28,596	$	(953)	$	27,643	9.7
Trade name	24,170		(9,256)		14,914		6.5
Other	4,786		(3,933)		853		6.0
Intangible assets, net	$	57,552	$	(14,142)	$	43,410	8.5

Intangible assets, net as of December 31, 2023 consist of the following (in thousands):


	Gross Amount		Accumulated Amortization and Impairment		Net Carrying Value		Weighted Average Remaining Useful Life (Years)
Trade name	$	24,170	$	(6,880)	$	17,290	7.4
Other	4,803		(3,519)		1,284		5.7
Intangible assets, net	$	28,973	$	(10,399)	$	18,574	7.3

Finite-lived Intangible Assets Amortization Expense

Amortization that will be charged to expense over the remaining life of the intangible assets subsequent to December 31, 2024 is as follows (in thousands):


2025	$	5,481
2026	5,334
2027	5,208
2028	5,208
2029 and thereafter	22,179
	$	43,410

Accrued Liabilities (Tables)

12 Months Ended

Dec. 31, 2024

Accrued Liabilities and Other Liabilities [Abstract]

Schedule of Accrued Liabilities

Accrued liabilities consist of the following (in thousands):


	December 31,
	2024		2023
Marketing	$	21,839	$	12,331
Payroll	12,067		7,888
Professional services	8,463		5,341
Other accruals	10,644		3,412
Total accrued liabilities	$	53,013	$	28,972

Operating Leases (Tables)

12 Months Ended

Dec. 31, 2024

Leases [Abstract]

Lessee, Operating Lease, Liability, Maturity

Future minimum lease payments under the Company's non-cancelable operating lease with an initial lease term in excess of one year subsequent to December 31, 2024 are as follows (in thousands):


2025	$	2,803
2026	2,866
2027	2,432
2028	2,121
2029	2,124
2030 and thereafter	2,043
Gross lease payments	14,389
Less: imputed interest	(3,044)
Present value of net future minimum lease payments	$	11,345

Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2024

Fair Value Disclosures [Abstract]

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis

The Company’s fair value hierarchy for its financial assets that are measured at fair value on a recurring basis as of December 31, 2024, is as follows (in thousands):


	Level 1		Level 2		Level 3		Total
Assets
Cash and cash equivalents:
Money market funds	$	64,717	$	—	$	—	$	64,717

Short-term investments:
U.S. Treasury bills	60,160		—		—		60,160
Corporate bonds	—		18,060		—		18,060
Government and government agency	—		1,447		—		1,447

Restricted cash:
Money market funds	856		—		—		856


Total assets	$	125,733	$	19,507	$	—	$	145,240

The Company’s fair value hierarchy for its financial assets and liabilities that are measured at fair value on a recurring basis as of December 31, 2023, is as follows (in thousands):


	Level 1		Level 2		Level 3		Total
Assets
Cash and cash equivalents:
Money market funds	$	42,492	$	—	$	—	$	42,492
Short-term investments:
U.S. Treasury bills	63,833		—		—		63,833
Corporate bonds	—		39,169		—		39,169
Government and government agency	—		20,610		—		20,610
Asset-backed bonds	—		706		—		706
Restricted cash:
Money market funds	856		—		—		856
Total assets	$	107,181	$	60,485	$	—	$	167,666

Stockholders' Equity (Tables)

12 Months Ended

Dec. 31, 2024

Share-Based Payment Arrangement [Abstract]

Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions

The grant date fair value of the Company’s stock options granted during the years ended December 31, 2023 and 2022 (excluding the stock options granted to the CEO outlined above) was estimated using the following weighted average assumptions:


	Year Ended December 31,
	2023		2022
Expected term (in years)	6.02		6.02
Expected volatility	49.9	%	48.0	%
Risk-free interest rate	4.2	%	2.0	%
Expected dividend yield	—	%	—	%

Share-based Payment Arrangement, Option, Activity

Option activity (excluding the stock options granted to the CEO outlined above) is as follows (in thousands, except for weighted average exercise price and weighted average contractual term in years):


	Shares	Weighted Average Exercise Price		Weighted Average Contractual Period (in Years)	Aggregate Intrinsic Value
Outstanding at December 31, 2023	13,784	$	5.14	7.14	$	57,972
Exercised	(4,002)	5.06
Forfeited and expired	(45)	9.61
Outstanding at December 31, 2024	9,737	5.15		6.33	185,326
Exercisable as of December 31, 2024	7,566	4.79		6.04	146,698

Share-based Payment Arrangement, Option, Exercise Price Range

The options outstanding and exercisable as of December 31, 2024 (excluding the stock options granted to the CEO outlined above) have been aggregated into ranges for additional disclosure as follows (in thousands, except weighted average remaining contractual life and exercise price):


	Options Outstanding		Options Exercisable
Exercise Price	Shares	Weighted Average Remaining Contractual Life (in Years)	Shares	Weighted Average Remaining Contractual Life (in Years)
$0.06 – 0.40	361	3.16	361	3.16
1.55 – 1.75	496	4.52	496	4.52
2.43 – 3.11	2,486	5.43	2,486	5.43
5.01 – 6.82	4,358	7.17	2,612	7.15
8.13 – 11.53	1,781	6.69	1,399	6.33
12.21 – 15.17	255	6.23	212	6.20
	9,737		7,566

The options outstanding and exercisable as of December 31, 2023 (excluding the stock options granted to the CEO outlined above) have been aggregated into ranges for additional disclosure as follows (in thousands, except weighted average remaining contractual life and exercise price):


	Options Outstanding		Options Exercisable
Exercise Price	Shares	Weighted Average Remaining Contractual Life (in Years)	Shares	Weighted Average Remaining Contractual Life (in Years)
$0.06 – 0.40	1,422	4.23	1,422	4.23
1.55 – 1.75	760	5.37	760	5.37
2.43 – 3.11	2,751	6.43	2,751	6.43
5.01 – 6.82	5,913	8.18	2,690	8.18
8.13 – 9.41	2,127	7.68	1,499	7.20
12.21 – 15.17	811	7.32	566	7.31
	13,784		9,688

Share-based Payment Arrangement, Restricted Stock Unit, Activity

RSU activity (excluding the performance RSUs outlined below) is as follows (in thousands, except for weighted average grant date fair value):


	Shares	Weighted Average Grant Date Fair Value
Unvested at December 31, 2023	14,483	$	8.08
Granted	9,540	14.74
Vested	(6,830)	9.22
Forfeited and expired	(1,436)	10.20
Unvested at December 31, 2024	15,757	$	11.45

Share-based Payment Arrangement, Expensed and Capitalized, Amount

The following table summarizes stock-based compensation expense for employees and nonemployees, by category, on the consolidated statements of operations and comprehensive income (loss) for the years ended December 31, 2024, 2023, and 2022 (in thousands):


	Year Ended December 31,
	2024		2023		2022
Marketing	$	9,392	$	5,477	$	4,648
Operations and support	10,205		6,815		2,684
Technology and development	12,534		7,126		4,327
General and administrative	60,191		46,662		31,158
Total stock-based compensation expense	$	92,322	$	66,080	$	42,817

Basic and Diluted Net Income (Loss) per Share (Tables)

12 Months Ended

Dec. 31, 2024

Earnings Per Share [Abstract]

Schedule of Earnings Per Share, Basic and Diluted

The following table sets forth the computation of the Company’s basic and diluted net income (loss) per share attributable to common stockholders (in thousands, except share and per share amounts):


	Year Ended December 31,
	2024				2023				2022
	Class A		Class V		Class A		Class V		Class A		Class V
Numerator:
Net income (loss) attributable to common stockholders, basic	$	121,148	$	4,890	$	(22,604)	$	(942)	$	(62,988)	$	(2,690)
Reallocation of undistributed earnings	431		(431)		—		—		—		—
Net income (loss) attributable to common stockholders, diluted	121,579		4,459		(22,604)		(942)		(62,988)		(2,690)

Denominator:
Weighted average shares outstanding, basic	207,561,414		8,377,623		200,967,089		8,377,623		196,138,497		8,377,623
Effect of dilutive potential common shares	20,869,839		—		—		—		—		—
Weighted average shares outstanding, diluted	228,431,253		8,377,623		200,967,089		8,377,623		196,138,497		8,377,623

Basic net income (loss) per share	$	0.58	$	0.58	$	(0.11)	$	(0.11)	$	(0.32)	$	(0.32)
Diluted net income (loss) per share	$	0.53	$	0.53	$	(0.11)	$	(0.11)	$	(0.32)	$	(0.32)

Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share

The following table discloses weighted-average Class A securities that were not included in the computation of diluted net income (loss) per share as their inclusion would have been anti-dilutive:


	Year Ended December 31,
	2024	2023	2022
RSUs	360,601	15,220,986	8,778,890
Stock options	156,558	21,278,043	20,470,391
Common stock issued subject to vesting	—	1,090,181	2,027,852
PRSUs	—	928,642	—
Warrants to purchase Class A common stock	—	561,058	561,058
Common stock issuable under the ESPP	—	404,648	603,603
Common stock issued for early exercise of stock options	—	—	70,257

Segments (Tables)

12 Months Ended

Dec. 31, 2024

Segment Reporting [Abstract]

Schedule of Segment Reporting Information, by Segment

The table below highlights the segment’s revenue, expenses, and net income (loss) for the years ended December 31, 2024, 2023, and 2022:


	Year Ended December 31,
	2024		2023		2022
Revenue	$	1,476,514	$	872,000	$	526,916
Less:
Cost of revenue	303,379		157,051		118,194
Customer acquisition costs	594,479		379,673		230,381
Employee compensation included within:
Marketing	35,672		26,530		16,503
Operations and support	73,239		48,192		25,478
Technology and development	39,565		24,322		14,750
General and administrative	48,189		40,990		27,063
Stock-based compensation included within:
Marketing	9,392		5,477		4,648
Operations and support	10,205		6,815		2,684
Technology and development	12,534		7,126		4,327
General and administrative	60,191		46,662		31,158
Depreciation and amortization expense included within operating expenses	15,350		9,515		7,474
Interest income	(10,349)		(9,029)		(2,610)
Income tax (benefit) expense	(54,327)		1,975		(31)
Other segment items*	212,957		150,247		112,575
Segment net income (loss)	126,038		(23,546)		(65,678)
Reconciliation of profit or loss
Adjustments and reconciling items	—		—		—
Consolidated net income (loss)	$	126,038	$	(23,546)	$	(65,678)

______________

(*) Other segment items included in segment net income (loss) primarily consist of professional services, fulfillment, transaction processing, selling, technology, and other general operating costs.

Income Tax (Tables)

12 Months Ended

Dec. 31, 2024

Income Tax Disclosure [Abstract]

Schedule of Income before Income Tax, Domestic and Foreign

For financial reporting purposes, income (loss) before income taxes includes the following (in thousands):


	Year Ended December 31,
	2024		2023		2022
Domestic	$	71,111	$	(16,749)	$	(62,539)
Foreign	600		(4,822)		(3,170)
Income (loss) before income taxes	$	71,711	$	(21,571)	$	(65,709)

Schedule of Components of Income Tax Expense (Benefit)

The (benefit) provision for income taxes consisted of the following (in thousands):


	Year Ended December 31,
	2024		2023		2022
Current:
Federal	$	1,639	$	532	$	—
State	5,683		1,456		563
Total current provision	7,322		1,988		563
Deferred:
Federal	(43,328)		12		(339)
State	(18,321)		(25)		(110)
Foreign	—		—		(145)
Total deferred benefit	(61,649)		(13)		(594)
Total (benefit) provision for income taxes	$	(54,327)	$	1,975	$	(31)

Schedule of Effective Income Tax Rate Reconciliation

The (benefit) provision for income taxes differs from the amounts computed by applying the statutory federal income tax rate of 21% to pretax income (loss) as follows (in thousands):


	Year Ended December 31,
	2024		2023		2022
Tax provision (benefit) at federal statutory rate	$	15,059	$	(4,530)	$	(13,799)
State taxes, net of federal benefits	2,700		1,636		(609)
Non-deductible officers' compensation	26,632		6,386		2,881
Non-deductible expenses	373		714		613
Transaction costs	—		—		(731)
Warrants and earn-outs	(1,141)		226		(15)
Research and development credits	(4,801)		(5,398)		—
Stock-based compensation	(28,361)		1,747		3,897
Change in valuation allowance	(65,021)		1,330		7,794
Other, net	233		(136)		(62)
Total	$	(54,327)	$	1,975	$	(31)

Schedule of Deferred Tax Assets and Liabilities

The components of deferred tax assets and liabilities are as follows (in thousands):


	As of December 31,
	2024		2023
Deferred tax assets:
Net operating loss carryforwards	$	22,764	$	53,309
Capitalized research and development	36,419		15,106
Inventory	6,131		1,890
Research and other credits	5,331		3,779
Accrued expenses and reserves	3,963		2,164
Operating lease liabilities	2,945		2,615
Stock-based compensation	2,425		3,572
Other intangible assets	289		350
Deferred revenue	192		124
Other deferred tax assets	907		87
Total gross deferred tax assets	81,366		82,996
Less valuation allowance	(2,493)		(70,506)
Total deferred tax assets	78,873		12,490
Deferred tax liabilities:
Fixed assets	(4,613)		(1,532)
Other intangible assets	(3,954)		(4,777)
Operating lease right-of-use assets	(2,824)		(2,519)
Prepaid expenses	(829)		(1,825)
Deferred state income tax	(3,846)		—
Other deferred tax liabilities	(1,204)		(1,859)
Total deferred tax liabilities	(17,270)		(12,512)
Net deferred tax assets (liabilities)	$	61,603	$	(22)

Schedule of Unrecognized Tax Benefits Roll Forward

Changes in unrecognized tax benefits for the years ended December 31, 2024 and 2023, excluding interest and penalties, were as follows (in thousands):


Balance at December 31, 2022	$	—
Increases in balances related to prior year tax positions	1,357
Increases in balances related to current year tax positions	956
Balance at December 31, 2023	2,313
Increases in balances related to prior year tax positions	2,042
Increases in balances related to current year tax positions	1,656
Balance at December 31, 2024	$	6,011

Summary of Significant Accounting Policies - Prepaid Expenses and Other Current Assets (Details) - USD ($)	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2022	Dec. 31, 2023
Accounting Policies [Abstract]
Accounts receivable	$ 6,100,000		$ 6,700,000
Accounts receivable, writeoff	0	$ 0
Accounts receivable, allowance for doubtful accounts	$ 0		$ 0

Summary of Significant Accounting Policies - Other Long-Term Assets (Details)	Dec. 31, 2024
Minimum
Property, Plant and Equipment [Line Items]
Property, plant and equipment, useful life	2 years
Maximum
Property, Plant and Equipment [Line Items]
Property, plant and equipment, useful life	10 years

Summary of Significant Accounting Policies - Amortization of Website Development and Internal-use Software Costs (Details) $ in Thousands	Dec. 31, 2024 USD ($)
Accounting Policies [Abstract]
2025	$ 9,453
2026	6,970
2027	2,756
Total	$ 19,179

Summary of Significant Accounting Policies - Goodwill (Details)	12 Months Ended
	Dec. 31, 2024 USD ($) reportingUnit	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)
Business Acquisition [Line Items]
Number of reporting units \| reportingUnit	1
Goodwill, impairment	$ 0	$ 0	$ 0
Seaview Enterprises LLC, MedisourceRx
Business Acquisition [Line Items]
Goodwill, acquired during period	$ 1,800,000

Summary of Significant Accounting Policies - Intangible Assets (Details)	Dec. 31, 2024
Finite-Lived Intangible Assets [Line Items]
Estimated useful life	10 years
Minimum
Finite-Lived Intangible Assets [Line Items]
Estimated useful life	2 years
Maximum
Finite-Lived Intangible Assets [Line Items]
Estimated useful life	10 years

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

Summary of Significant Accounting Policies - Impairment of Long Lived Assets (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Accounting Policies [Abstract]
Impairment of long-lived assets	$ 114	$ 429	$ 1,127

Summary of Significant Accounting Policies - Revenue Recognition (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Disaggregation of Revenue [Line Items]
Total revenue	$ 1,476,514	$ 872,000	$ 526,916
Online Revenue
Disaggregation of Revenue [Line Items]
Total revenue	1,437,937	842,381	502,507
Wholesale Revenue
Disaggregation of Revenue [Line Items]
Total revenue	$ 38,577	$ 29,619	$ 24,409

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

- Definition

Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 41
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-41

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 270
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (i)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482964/270-10-50-1

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (ee)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-32

Reference 4: http://fasb.org/us-gaap/role/ref/otherTransitionRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-32

Reference 5: http://fasb.org/us-gaap/role/ref/otherTransitionRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-32

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 924
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 11.L)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479941/924-10-S99-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-5

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 30
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-30

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 42
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-42

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-22

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-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 40
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-40

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-Topic 280
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-Name Accounting Standards Codification
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-Paragraph 22
-Subparagraph (a)
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-Topic 606
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-Section 50
-Paragraph 4
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-4

+ Details

Summary of Significant Accounting Policies -Revenue Recognition (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Accounting Policies [Abstract]
Deferred revenue	$ 75.3	$ 7.7
Deferred revenue increase	$ 67.6

Summary of Significant Accounting Policies - Stock-Based Compensation (Details)	1 Months Ended	12 Months Ended
	Jan. 31, 2021	Dec. 31, 2024
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period (in years)		4 years
Common stock issuable under the ESPP \| Common Class A
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Purchase price of common stock, percent	85.00%	85.00%

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

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-Topic 718
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+ Details

Summary of Significant Accounting Policies - Employee Benefit Plan (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Accounting Policies [Abstract]
Percent of match	50.00%
Maximum annual contributions per employee, amount	$ 3
Matching contribution cost	$ 2,900	$ 2,000	$ 1,200

Summary of Significant Accounting Policies - Advertising (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Accounting Policies [Abstract]
Customer acquisition costs and content production	$ 604,600	$ 390,300	$ 235,600
Customer acquisition costs	$ 594,479	$ 379,673	$ 230,381

Summary of Significant Accounting Policies - Liquidity (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Accounting Policies [Abstract]
Net loss	$ (126,038)	$ 23,546	$ 65,678
Net cash used in operating activities	(251,084)	(73,483)	26,531
Accumulated deficit	242,137	368,175
Cash and cash equivalents	220,584	96,663	$ 46,772
Short-term investments	$ 79,667	$ 124,318

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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-SubTopic 10
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-Topic 942
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-Paragraph 1
-Subparagraph (SX 210.9-04(22))
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-URI https://asc.fasb.org/1943274/2147478524/942-220-S99-1

+ Details

- Definition

Amount of accumulated undistributed earnings (deficit).

+ References + Details

Acquisitions - Narrative (Details) - USD ($) $ in Millions	1 Months Ended	12 Months Ended
Acquisitions - Narrative (Details) - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2024
Business Acquisition [Line Items]
Estimated useful life		10 years
Seaview Enterprises LLC, MedisourceRx
Business Acquisition [Line Items]
Business combination, consideration	$ 31.0
Cash consideration	$ 15.5
Business acquisition, equity interest issued or issuable, number of shares (in shares)	976,341
Business combination, consideration transferred, equity interests issued and issuable	$ 15.5
Business combination, acquisition related costs	$ 1.4
Goodwill, acquired during period		$ 1.8

Acquisitions - Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets [Abstract]
Goodwill	$ 112,728	$ 110,881
Seaview Enterprises LLC, MedisourceRx
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets [Abstract]
503B pharmacy license	28,596
Goodwill	1,847
Other net assets	557
Net assets acquired	$ 31,000

- Definition

Amount, after accumulated impairment loss, of asset representing future economic benefit arising from other asset acquired in business combination or from joint venture formation or both, that is not individually identified and separately recognized.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
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-Name Accounting Standards Codification
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-Subparagraph (SX 210.9-03(10)(1))
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-URI https://asc.fasb.org/1943274/2147478546/942-210-S99-1

+ Details

Investments (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Marketable Securities [Line Items]
Adjusted Cost	$ 79,544	$ 124,290
Unrealized Gains	124	43
Unrealized Losses	(1)	(15)
Fair Value	79,667	124,318
U.S. Treasury bills
Marketable Securities [Line Items]
Adjusted Cost	60,040	63,809
Unrealized Gains	120	24
Unrealized Losses	0	0
Fair Value	60,160	63,833
Corporate bonds
Marketable Securities [Line Items]
Adjusted Cost	18,058	39,152
Unrealized Gains	3	18
Unrealized Losses	(1)	(1)
Fair Value	18,060	39,169
Government and government agency
Marketable Securities [Line Items]
Adjusted Cost	1,446	20,624
Unrealized Gains	1	0
Unrealized Losses	0	(14)
Fair Value	$ 1,447	20,610
Asset-backed bonds
Marketable Securities [Line Items]
Adjusted Cost		705
Unrealized Gains		1
Unrealized Losses		0
Fair Value		$ 706

- Definition

Amount of investment in debt security measured at fair value with change in fair value recognized in other comprehensive income (available-for-sale).

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 820
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-Section 55
-Paragraph 103
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-Topic 942
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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-Section 45
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479130/326-30-45-1

+ Details

Inventory (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Inventory Disclosure [Abstract]
Finished goods	$ 35,077	$ 15,221
Raw materials	29,350	7,243
Total inventory	$ 64,427	$ 22,464

Prepaid Expenses and Other Current Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Prepaid expenses	$ 16,172	$ 10,665
Wholesale trade and other receivables, net	6,080	6,748
Other current assets	8,901	4,195
Total prepaid expenses and other current assets	$ 31,153	$ 21,608

Property, Equipment, and Software, Net (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Property, Plant and Equipment [Line Items]
Total property, equipment, and software	$ 106,582	$ 48,387
Less: accumulated depreciation and amortization	(24,499)	(12,244)
Property, equipment, and software, net	82,083	36,143
Purchased and internal-use software and website development
Property, Plant and Equipment [Line Items]
Total property, equipment, and software	34,100	22,970
Facility equipment and other tangible property
Property, Plant and Equipment [Line Items]
Total property, equipment, and software	27,785	8,254
Leasehold improvements
Property, Plant and Equipment [Line Items]
Total property, equipment, and software	10,933	2,256
Assets not placed in service
Property, Plant and Equipment [Line Items]
Total property, equipment, and software	$ 33,764	$ 14,907

Property, Equipment, and Software, Net - Additional Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Property, Plant and Equipment [Line Items]
Depreciation and amortization	$ 17,088	$ 9,515	$ 7,474
Property, Equipment, and Software
Property, Plant and Equipment [Line Items]
Depreciation and amortization	$ 13,300	$ 6,000	$ 3,400

Intangible Assets, Net - Components of Intangible Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Finite-Lived Intangible Assets [Line Items]
Gross Amount	$ 57,552	$ 28,973
Accumulated Amortization and Impairment	(14,142)
Net Carrying Value	$ 43,410	18,574
Weighted Average Remaining Useful Life (Years)	10 years
Accumulated Amortization and Impairment		$ (10,399)
Weighted Average
Finite-Lived Intangible Assets [Line Items]
Weighted Average Remaining Useful Life (Years)	8 years 6 months	7 years 3 months 18 days
503B pharmacy license
Finite-Lived Intangible Assets [Line Items]
Gross Amount	$ 28,596
Accumulated Amortization and Impairment	(953)
Net Carrying Value	$ 27,643
503B pharmacy license \| Weighted Average
Finite-Lived Intangible Assets [Line Items]
Weighted Average Remaining Useful Life (Years)	9 years 8 months 12 days
Trade name
Finite-Lived Intangible Assets [Line Items]
Gross Amount	$ 24,170	$ 24,170
Accumulated Amortization and Impairment	(9,256)
Net Carrying Value	$ 14,914	17,290
Accumulated Amortization and Impairment		$ (6,880)
Trade name \| Weighted Average
Finite-Lived Intangible Assets [Line Items]
Weighted Average Remaining Useful Life (Years)	6 years 6 months	7 years 4 months 24 days
Other
Finite-Lived Intangible Assets [Line Items]
Gross Amount	$ 4,786	$ 4,803
Accumulated Amortization and Impairment	(3,933)
Net Carrying Value	$ 853	1,284
Accumulated Amortization and Impairment		$ (3,519)
Other \| Weighted Average
Finite-Lived Intangible Assets [Line Items]
Weighted Average Remaining Useful Life (Years)	6 years	5 years 8 months 12 days

Intangible Assets, Net (Details) - USD ($)	12 Months Ended
Intangible Assets, Net (Details) - USD ($)	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization expense related to intangible assets	$ 3,800,000	$ 3,500,000	$ 4,100,000
Impairment of intangible assets	$ 0	$ 0	$ 700,000
Impairment, Intangible Asset, Statement of Income or Comprehensive Income [Extensible Enumeration]			Other income, net

Intangible Assets, Net - Amortization of Intangible Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
2025	$ 5,481
2026	5,334
2027	5,208
2028	5,208
2029 and thereafter	22,179
Net Carrying Value	$ 43,410	$ 18,574

Accrued Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Accrued Liabilities and Other Liabilities [Abstract]
Marketing	$ 21,839	$ 12,331
Payroll	12,067	7,888
Professional services	8,463	5,341
Other accruals	10,644	3,412
Total accrued liabilities	$ 53,013	$ 28,972

Operating Leases - Additional Detail (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Leases [Abstract]
Operating lease, liability, remeasurement adjustment	$ 0.9	$ 5.7
Operating lease, right of use asset, remeasurement adjustment	0.9	5.7
Operating lease costs	3.0	2.4	$ 1.9
Variable lease costs	0.5	0.4	0.3
Operating lease, payments	$ 2.4	$ 1.9	$ 1.6
Operating lease, weighted average remaining lease term	5 years 6 months
Operating lease, weighted average discount rate, percent	8.70%

Operating Leases - Lease Liability (Details) $ in Thousands	Dec. 31, 2024 USD ($)
Leases [Abstract]
2025	$ 2,803
2026	2,866
2027	2,432
2028	2,121
2029	2,124
2030 and thereafter	2,043
Gross lease payments	14,389
Less: imputed interest	(3,044)
Present value of net future minimum lease payments	$ 11,345

Variable Interest Entities (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Variable Interest Entity [Line Items]
Current assets	$ 395,831	$ 265,053
Assets	707,539	441,186
Current liabilities	221,367	88,468
Liabilities	230,823	97,157
Net income (loss)	126,038	(23,546)	$ (65,678)
Variable Interest Entity, Primary Beneficiary
Variable Interest Entity [Line Items]
Current assets	56,100	24,100
Assets	56,100	24,100
Current liabilities	16,600	6,000
Liabilities	16,600	6,000
Net income (loss)	(26,200)	3,300	9,100
Variable Interest Entity, Primary Beneficiary \| Consolidation, Eliminations \| Service Agreements
Variable Interest Entity [Line Items]
Payments for services	$ 216,700	$ 96,300	$ 64,200

Fair Value Measurements - Schedule of Assets and Liabilities (Details) - Fair Value, Recurring - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	$ 145,240	$ 167,666
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	125,733	107,181
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	19,507	60,485
Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	0	0
U.S. Treasury bills
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments	60,160	63,833
U.S. Treasury bills \| Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments	60,160	63,833
U.S. Treasury bills \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments	0	0
U.S. Treasury bills \| Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments	0	0
Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments	18,060	39,169
Corporate bonds \| Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments	0	0
Corporate bonds \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments	18,060	39,169
Corporate bonds \| Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments	0	0
Government and government agency
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments	1,447	20,610
Government and government agency \| Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments	0	0
Government and government agency \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments	1,447	20,610
Government and government agency \| Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments	0	0
Asset-backed bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments		706
Asset-backed bonds \| Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments		0
Asset-backed bonds \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments		706
Asset-backed bonds \| Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments		0
Money market funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	64,717	42,492
Restricted cash	856	856
Money market funds \| Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	64,717	42,492
Restricted cash	856	856
Money market funds \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	0	0
Restricted cash	0	0
Money market funds \| Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	0	0
Restricted cash	$ 0	$ 0

Commitments and Contingencies - Purchase Obligations (Details) $ in Millions	Dec. 31, 2024 USD ($)
Commitments and Contingencies Disclosure [Abstract]
Purchase obligation	$ 22.0
Purchase obligation, payable in 2025	7.1
Purchase obligation, payable in 2026	7.5
Purchase obligation, payable in 2027	7.2
Purchase obligation, payable in 2028	0.1
Purchase obligation, payable in 2029	$ 0.1

Stockholders' Equity- Common Stock (Details) $ in Thousands	12 Months Ended
Stockholders' Equity- Common Stock (Details) $ in Thousands	Dec. 31, 2024 USD ($) commonStockClass shares	Dec. 31, 2023 USD ($) shares	Jul. 24, 2024 USD ($)	Oct. 26, 2023 USD ($)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of classes of common stock \| commonStockClass	2
Stock repurchase program, authorized amount			$ 100,000
Repurchases and retirement of common stock	$ 83,039	$ 1,999
Common Class A
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock repurchase program, authorized amount				$ 50,000
Stock repurchased and retired during period (in shares) \| shares	3,632,123	237,458
Common Class A \| 2023 Share Repurchase Program
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock repurchase program, authorized amount				$ 50,000
Repurchases and retirement of common stock	$ 48,000	$ 2,000
Common Class A \| 2024 Share Repurchase Program
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock repurchased and retired during period (in shares) \| shares	2,135,919
Repurchases and retirement of common stock	$ 35,000
Remaining repurchase amount	$ 65,000

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 35
-Paragraph 1D
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-URI https://asc.fasb.org/1943274/2147480483/718-10-35-1D

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Stockholders' Equity - RSU Releases (Details) - RSUs - Common Class A - shares	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock issued during the period (in shares)	6,829,961	5,201,501	2,333,695
Share-based payment arrangement, shares withheld for tax withholding obligation (in shares)	2,425,541	1,729,045	701,584

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

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+ Details

Stockholders' Equity - 2017 Stock Plan and 2020 Equity Incentive Plan (Details) - shares		1 Months Ended
	Jan. 01, 2024	Jan. 31, 2021	Dec. 31, 2024	Dec. 31, 2023
2020 Equity Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock, capital shares reserved for future issuance (in shares)		21,000,000	54,360,277	43,612,952
Percentage increase in authorized shares of common stock		5.00%
Number of shares available for grant (in shares)			15,162,111	12,577,863
Class A common stock automatically added to the reserve (in shares)	10,674,087
Stock Plan, 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of additional shares authorized (in shares)		19,000,000
Number of shares available for grant (in shares)			0
Number of authorized shares transferred between plans (in shares)			73,238

- Definition

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+ Details

Stockholders' Equity - 2020 Employee Stock Purchase Plan (Details) - USD ($) $ in Millions	1 Months Ended		12 Months Ended
	Jan. 31, 2022	Jan. 31, 2021	Dec. 31, 2024	Dec. 31, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based payments arrangement, nonvested award, option, cost not yet recognized, amount			$ 4.1
Common Class A
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock issued during period, shares, employee stock purchase plans (in shares)			617,563	594,885
Common stock issuable under the ESPP
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Automatic percentage increase of authorized shares	1.00%
Employee payroll deductions			$ 0.8
Share-based payment arrangement, nonvested award, cost not yet recognized, period for recognition			1 year 5 months 4 days
Common stock issuable under the ESPP \| Common Class A
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock, capital shares reserved for future issuance (in shares)		4,000,000	6,047,919	6,047,919
Number of shares benchmark (in shares)	12,000,000
Number of shares available for grant (in shares)			4,441,943	5,059,506
Purchase price of common stock, percent		85.00%	85.00%
Common stock issuable under the ESPP \| Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Offering period		27 months

Stockholders' Equity - Stock Options Narrative (Details)			12 Months Ended			55 Months Ended
	Feb. 24, 2022 USD ($) $ / shares shares	Jun. 17, 2020 USD ($) $ / shares shares	Dec. 31, 2024 USD ($) shares	Dec. 31, 2023 USD ($) $ / shares	Dec. 31, 2022 USD ($) $ / shares	Dec. 31, 2024 USD ($) shares	Feb. 28, 2021 shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period (in years)			4 years
Award granted (in shares) \| shares			0
Share-based payments arrangement, nonvested award, option, cost not yet recognized, amount			$ 4,100,000			$ 4,100,000
Weighted average grant date fair value (in USD per share) \| $ / shares				$ 6.09	$ 2.44
Intrinsic value of exercises during period			58,500,000	$ 6,200,000	$ 6,300,000
Chief Executive Officer
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Grant date fair value		$ 16,600,000
Exercisable at the end of the period (in shares) \| shares							3,246,139
Chief Executive Officer \| June 17, 2020 Grant One
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award granted (in shares) \| shares		3,246,139
Awards granted (in USD per share) \| $ / shares		$ 2.43
Acquisition with shares consideration threshold (in USD per share) \| $ / shares		$ 22.99
Chief Executive Officer \| June 17, 2020 Grant Two
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award granted (in shares) \| shares		1,623,070
Awards granted (in USD per share) \| $ / shares		$ 2.43
Acquisition with shares consideration threshold (in USD per share) \| $ / shares		$ 38.31
Chief Executive Officer \| February 24, 2022 Grant
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period (in years)	4 years
Award granted (in shares) \| shares	2,085,640
Awards granted (in USD per share) \| $ / shares	$ 5.01
Grant date fair value	$ 3,800,000
Share-based payments arrangement, nonvested award, option, cost not yet recognized, amount			$ 400,000			400,000
Share based payment arrangement option share price trigger (in USD per share) \| $ / shares	$ 10
Share based payment arrangement option threshold trading (in days)	$ 20
Share-based payment arrangement, option, threshold consecutive trading days (in days)	30
Chief Executive Officer \| February 24, 2022 Grant
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based payment award, options, vested in period (in shares) \| shares			0
Employee
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based payments arrangement, nonvested award, option, cost not yet recognized, amount			$ 6,600,000			$ 6,600,000
Stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expiration period (in years)			10 years
Stock options \| Chief Executive Officer \| June 17, 2020 Grant
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Exercise of vested stock options (in shares) \| shares						3,059,124
Stock options \| Chief Executive Officer \| February 24, 2022 Grant
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Awards vesting rights, percentage	25.00%
Share-based payment arrangement, nonvested award, cost not yet recognized, period for recognition			1 year 1 month 24 days
Stock options \| New Employee
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period (in years)			4 years
Award vesting rights, monthly percentage			2.083%
Stock options \| New Employee \| Share-based Payment Arrangement, Tranche One
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period (in years)			1 year
Awards vesting rights, percentage			25.00%
Stock options \| Current Employee
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period (in years)			4 years
Award vesting rights, monthly percentage			2.083%
Stock options \| Employee
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based payment arrangement, nonvested award, cost not yet recognized, period for recognition			1 year 5 months 1 day

Stockholders' Equity - Weighted Average Fair Value Assumptions (Details) - Stock options	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected term (in years)	6 years 7 days	6 years 7 days
Expected volatility	49.90%	48.00%
Risk-free interest rate	4.20%	2.00%
Expected dividend yield	0.00%	0.00%

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 35
-Paragraph 1D
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480483/718-10-35-1D

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 35
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480483/718-10-35-3

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)(3)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(1)(i)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(1)(ii)
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-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(1)(iii)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(1)(iv)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(1)(iv)(01)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(1)(iv)(02)
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-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(1)(iv)(03)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(1)(iv)(04)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(2)(i)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(2)(ii)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(2)(iii)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(2)(iii)(01)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(2)(iii)(02)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(2)(iii)(03)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 20: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (d)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 21: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
-Section 50
-Paragraph 2
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Reference 22: http://www.xbrl.org/2003/role/disclosureRef
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Reference 23: http://www.xbrl.org/2003/role/disclosureRef
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Reference 24: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
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-Name Accounting Standards Codification
-Section 50
-Paragraph 2
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-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 25: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
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-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (f)(2)(ii)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 26: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (f)(2)(iii)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 27: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (f)(2)(iv)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 28: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (f)(2)(v)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

+ Details

Stockholders' Equity- Option Activity (Details) - Employee, excluding CEO $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2024 USD ($) $ / shares shares	Dec. 31, 2023 USD ($) $ / shares shares
Shares
Beginning balance (in shares) \| shares	13,784
Exercised (in shares) \| shares	(4,002)
Forfeited and expired (in shares) \| shares	(45)
Ending balance (in shares) \| shares	9,737	13,784
Exercisable at the end of the period (in shares) \| shares	7,566
Weighted Average Exercise Price
Beginning balance (in USD per share) \| $ / shares	$ 5.14
Exercised (in USD per share) \| $ / shares	5.06
Forfeited and expired (in USD per share) \| $ / shares	9.61
Ending balance (in USD per share) \| $ / shares	5.15	$ 5.14
Exercisable at the end of the period (in USD per share) \| $ / shares	$ 4.79
Weighted Average Contractual Period (in Years)
Outstanding balance (in years)	6 years 3 months 29 days	7 years 1 month 20 days
Exercisable at the end of the period (in years)	6 years 14 days
Aggregate Intrinsic Value
Outstanding balance \| $	$ 185,326	$ 57,972
Exercisable at the end of the period \| $	$ 146,698

Stockholders' Equity - Exercise Price Range of Options Outstanding and Exercisable (Details) - $ / shares shares in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Options Outstanding
Shares (in shares)	9,737	13,784
Options Exercisable
Shares (in shares)	7,566	9,688
$0.06 – 0.40
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Share-based payments arrangement, option, exercise price range, lower range limit (in dollars per share)	$ 0.06	$ 0.06
Share-based payments arrangement, option, exercise price range, upper range limit (in dollars per share)	$ 0.40	$ 0.40
Options Outstanding
Shares (in shares)	361	1,422
Weighted Average Remaining Contractual Life (in Years)	3 years 1 month 28 days	4 years 2 months 23 days
Options Exercisable
Shares (in shares)	361	1,422
Weighted Average Remaining Contractual Life (in Years)	3 years 1 month 28 days	4 years 2 months 23 days
1.55 – 1.75
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Share-based payments arrangement, option, exercise price range, lower range limit (in dollars per share)	$ 1.55	$ 1.55
Share-based payments arrangement, option, exercise price range, upper range limit (in dollars per share)	$ 1.75	$ 1.75
Options Outstanding
Shares (in shares)	496	760
Weighted Average Remaining Contractual Life (in Years)	4 years 6 months 7 days	5 years 4 months 13 days
Options Exercisable
Shares (in shares)	496	760
Weighted Average Remaining Contractual Life (in Years)	4 years 6 months 7 days	5 years 4 months 13 days
2.43 – 3.11
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Share-based payments arrangement, option, exercise price range, lower range limit (in dollars per share)	$ 2.43	$ 2.43
Share-based payments arrangement, option, exercise price range, upper range limit (in dollars per share)	$ 3.11	$ 3.11
Options Outstanding
Shares (in shares)	2,486	2,751
Weighted Average Remaining Contractual Life (in Years)	5 years 5 months 4 days	6 years 5 months 4 days
Options Exercisable
Shares (in shares)	2,486	2,751
Weighted Average Remaining Contractual Life (in Years)	5 years 5 months 4 days	6 years 5 months 4 days
5.01 – 6.82
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Share-based payments arrangement, option, exercise price range, lower range limit (in dollars per share)	$ 5.01	$ 5.01
Share-based payments arrangement, option, exercise price range, upper range limit (in dollars per share)	$ 6.82	$ 6.82
Options Outstanding
Shares (in shares)	4,358	5,913
Weighted Average Remaining Contractual Life (in Years)	7 years 2 months 1 day	8 years 2 months 4 days
Options Exercisable
Shares (in shares)	2,612	2,690
Weighted Average Remaining Contractual Life (in Years)	7 years 1 month 24 days	8 years 2 months 4 days
8.13 – 11.53
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Share-based payments arrangement, option, exercise price range, lower range limit (in dollars per share)	$ 8.13	$ 8.13
Share-based payments arrangement, option, exercise price range, upper range limit (in dollars per share)	$ 11.53	$ 9.41
Options Outstanding
Shares (in shares)	1,781	2,127
Weighted Average Remaining Contractual Life (in Years)	6 years 8 months 8 days	7 years 8 months 4 days
Options Exercisable
Shares (in shares)	1,399	1,499
Weighted Average Remaining Contractual Life (in Years)	6 years 3 months 29 days	7 years 2 months 12 days
12.21 – 15.17
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Share-based payments arrangement, option, exercise price range, lower range limit (in dollars per share)	$ 12.21	$ 12.21
Share-based payments arrangement, option, exercise price range, upper range limit (in dollars per share)	$ 15.17	$ 15.17
Options Outstanding
Shares (in shares)	255	811
Weighted Average Remaining Contractual Life (in Years)	6 years 2 months 23 days	7 years 3 months 25 days
Options Exercisable
Shares (in shares)	212	566
Weighted Average Remaining Contractual Life (in Years)	6 years 2 months 12 days	7 years 3 months 21 days

Stockholders' Equity - RSUs Narrative (Details) $ in Millions				12 Months Ended
	Nov. 06, 2024 USD ($) shares	Feb. 28, 2024 USD ($) shares	Mar. 01, 2023 shares	Dec. 31, 2024 USD ($) shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period (in years)				4 years
Share-based payment award, other than options, grants in period, grant date fair value \| $				$ 12.9
RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period (in years)				4 years
Granted (in shares)				9,540,000
Vested (in shares)				6,830,000
Share-based payment arrangement, nonvested award, excluding option, cost not yet recognized, amount \| $				$ 169.0
Share-based payment arrangement, nonvested award, cost not yet recognized, period for recognition				2 years 10 months 6 days
RSUs \| Share-based Payment Arrangement, Tranche One
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period (in years)				1 year
Awards vesting rights, percentage				25.00%
Earn Out Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vested (in shares)				317,539
Earn Out Restricted Stock Units \| Chief Executive Officer
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares)				476,308
Parent Warrant Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vested (in shares)				6,319
Parent Warrant Restricted Stock Units \| Chief Executive Officer
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares)				9,478
PRSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period (in years)		3 years	3 years
Granted (in shares)	16,778	1,218,467	1,115,709
Share-based payment arrangement, nonvested award, excluding option, cost not yet recognized, amount \| $				$ 25.2
Share-based payment arrangement, nonvested award, cost not yet recognized, period for recognition				1 year 9 months 21 days
Share-based payment award, other than options, grants in period, grant date fair value \| $	$ 0.4	$ 16.2
Share-based payment award, other than options, target shares percent	1	1		1
PRSUs \| February 28, 2024
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based payment award, other than options, forfeited in period (in shares)				0
PRSUs \| November 6, 2024
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based payment award, other than options, forfeited in period (in shares)				0
PRSUs \| March 1, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based payment award, other than options, forfeited in period (in shares)				11,408
PRSUs \| Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Awards vesting rights, percentage		0.00%	0.00%
PRSUs \| Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Awards vesting rights, percentage		200.00%	200.00%

Stockholders' Equity - RSUs Activity (Details) - RSUs shares in Thousands	12 Months Ended
	Dec. 31, 2024 $ / shares shares
Shares
Beginning balance (in shares) \| shares	14,483
Granted (in shares) \| shares	9,540
Vested (in shares) \| shares	(6,830)
Forfeited and expired (in shares) \| shares	(1,436)
Ending balance (in shares) \| shares	15,757
Weighted Average Grant Date Fair Value
Beginning balance (in dollars per share) \| $ / shares	$ 8.08
Granted (in dollars per share) \| $ / shares	14.74
Vested (in dollars per share) \| $ / shares	9.22
Forfeited and expired (in dollars per share) \| $ / shares	10.20
Ending balance (in dollars per share) \| $ / shares	$ 11.45

Stockholders' Equity - Vendor Warrants Narrative (Details) - Vendor Warrants $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2024 USD ($) $ / shares shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock outstanding and exercisable (in shares)	271,962
Exercisable at the end of period (in shares)	271,962
Outstanding common stock warrants (in shares)	271,962
Exercisable and outstanding, weighted average exercise price (in usd per share) \| $ / shares	$ 1.75
Exercisable and outstanding, weighted average remaining contractual terms	7 years 3 days
Exercisable and outstanding, aggregate intrinsic value \| $	$ 6.1
Exercised (in shares)	190,373
Common stock, shares issued (in shares)	18,622
Earn-Out Consideration
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Class of warrant or right, number securities called by warrants or rights (in shares)	26,603
Pre Merger Debt Agreement
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock outstanding and exercisable (in shares)	98,723
Exercisable at the end of period (in shares)	98,723
Outstanding common stock warrants (in shares)	98,723
Exercisable and outstanding, weighted average exercise price (in usd per share) \| $ / shares	$ 6.96
Common stock, shares issued (in shares)	9,657
Conversion of preferred stock to common stock (in shares)	52,639

Stockholders' Equity - Stock Subject to Vesting and Earn-out Share Liability (Details) - USD ($) $ in Millions	1 Months Ended		12 Months Ended
	Jul. 31, 2021	Jun. 30, 2021	Dec. 31, 2024
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period (in years)			4 years
Common Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Issuance of common stock acquisition-related earn-out consideration (in shares)			119,344
Restricted Stock \| Honest Health Limited
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based payment arrangement, nonvested award, cost not yet recognized, amount			$ 0.6
Share-based payment arrangement, nonvested award, cost not yet recognized, period for recognition			5 months 8 days
Restricted Stock \| Employee \| Honest Health Limited
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period (in years)		4 years
Restricted Stock \| Employee \| Honest Health Limited \| Share-based Payment Arrangement, Tranche One
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period (in years)		1 year
Awards vesting rights, percentage		25.00%
Restricted Stock \| Employee \| Honest Health Limited \| Common Class A
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares)		447,553
Aggregate grant date fair value		$ 5.5
Restricted Stock \| Employee \| Apostrophe
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period (in years)	3 years
Restricted Stock \| Employee \| Apostrophe \| Share-based Payment Arrangement, Tranche One
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period (in years)	6 months
Awards vesting rights, percentage	17.00%
Restricted Stock \| Employee \| Apostrophe \| Common Class A
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares)	2,332,557
Aggregate grant date fair value	$ 24.2

Stockholders' Equity - Summary of Stock-Based Compensation Expense for Employees and Nonemployees (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation expense	$ 92,322	$ 66,080	$ 42,817
Share-based payment arrangement, amount capitalized	2,300	1,700	600
Marketing
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation expense	9,392	5,477	4,648
Operations and support
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation expense	10,205	6,815	2,684
Technology and development
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation expense	12,534	7,126	4,327
General and administrative
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation expense	$ 60,191	$ 46,662	$ 31,158

Related-Party Transactions (Details) - Affiliated Entity - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Vouched
Related Party Transaction [Line Items]
Related party transaction, expenses from transactions with related party	$ 4.1	$ 2.1	$ 1.0
Terminal, Inc.
Related Party Transaction [Line Items]
Related party transaction, expenses from transactions with related party		$ 4.6	$ 3.6

Basic and Diluted Net Income (Loss) per Share - Additional Information (Details) - USD ($)	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Dividends, common stock	$ 0	$ 0	$ 0
Common Class V
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	0	0	0

Basic and Diluted Net Income (Loss) per Share - Computation of Basic and Diluted Net Loss per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Numerator:
Net income (loss) attributable to common stockholders, diluted	$ 126,038	$ (23,546)	$ (65,678)
Denominator:
Weighted average shares outstanding, basic (in shares)	215,939,037	209,344,712	204,516,120
Weighted average shares outstanding, diluted (in shares)	236,808,876	209,344,712	204,516,120
Basic net loss per share (in dollars per share)	$ 0.58	$ (0.11)	$ (0.32)
Diluted net loss per share (in dollars per share)	$ 0.53	$ (0.11)	$ (0.32)
Common Class A
Numerator:
Net income (loss) attributable to common stockholders, diluted	$ 121,148	$ (22,604)	$ (62,988)
Reallocation of undistributed earnings	431	0	0
Net income (loss) attributable to common stockholders, diluted	$ 121,579	$ (22,604)	$ (62,988)
Denominator:
Weighted average shares outstanding, basic (in shares)	207,561,414	200,967,089	196,138,497
Effect of dilutive potential common shares (in shares)	20,869,839	0	0
Weighted average shares outstanding, diluted (in shares)	228,431,253	200,967,089	196,138,497
Basic net loss per share (in dollars per share)	$ 0.58	$ (0.11)	$ (0.32)
Diluted net loss per share (in dollars per share)	$ 0.53	$ (0.11)	$ (0.32)
Common Class V
Numerator:
Net income (loss) attributable to common stockholders, diluted	$ 4,890	$ (942)	$ (2,690)
Reallocation of undistributed earnings	(431)	0	0
Net income (loss) attributable to common stockholders, diluted	$ 4,459	$ (942)	$ (2,690)
Denominator:
Weighted average shares outstanding, basic (in shares)	8,377,623	8,377,623	8,377,623
Effect of dilutive potential common shares (in shares)	0	0	0
Weighted average shares outstanding, diluted (in shares)	8,377,623	8,377,623	8,377,623
Basic net loss per share (in dollars per share)	$ 0.58	$ (0.11)	$ (0.32)
Diluted net loss per share (in dollars per share)	$ 0.53	$ (0.11)	$ (0.32)

Basic and Diluted Net Income (Loss) per Share - Schedule of Excluded Antidilutive Securities (Details) - shares	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Common Class V
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	0	0	0
RSUs
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	360,601	15,220,986	8,778,890
Stock options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	156,558	21,278,043	20,470,391
Common stock issued subject to vesting
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	0	1,090,181	2,027,852
PRSUs
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	0	928,642	0
Warrants \| Common Class A
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	0	561,058	561,058
Common stock issuable under the ESPP
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	0	404,648	603,603
Common stock issued for early exercise of stock options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	0	0	70,257

Segments (Details) - USD ($) $ in Thousands	12 Months Ended
Segments (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Segment Reporting Information [Line Items]
Total revenue	$ 1,476,514	$ 872,000	$ 526,916
Less:
Cost of revenue	303,379	157,051	118,194
Customer acquisition costs	594,479	379,673	230,381
Depreciation and amortization expense included within operating expenses	15,350	9,515	7,474
Interest income	(10,349)	(9,029)	(2,610)
Benefit (provision) for income taxes	(54,327)	1,975	(31)
Other segment items	212,957	150,247	112,575
Net income (loss)	126,038	(23,546)	(65,678)
Adjustments and reconciling items	0	0	0
Employee Compensation
Less:
Marketing	35,672	26,530	16,503
Operations and support	73,239	48,192	25,478
Technology and development	39,565	24,322	14,750
General and administrative	48,189	40,990	27,063
Stock-Based Compensation
Less:
Marketing	9,392	5,477	4,648
Operations and support	10,205	6,815	2,684
Technology and development	12,534	7,126	4,327
General and administrative	$ 60,191	$ 46,662	$ 31,158

Segments - Additional Information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Segment Reporting [Abstract]
Payments to acquire productive assets	$ 52.8	$ 26.5	$ 7.2

Income Taxes - Loss Before Provision for Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Income Tax Disclosure [Abstract]
Domestic	$ 71,111	$ (16,749)	$ (62,539)
Foreign	600	(4,822)	(3,170)
Income (loss) before income taxes	$ 71,711	$ (21,571)	$ (65,709)

- Definition

Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-22

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 48
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482785/280-10-55-48

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-32

Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 30
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-30

Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 270
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (i)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482964/270-10-50-1

Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (ee)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-32

Reference 7: http://fasb.org/us-gaap/role/ref/otherTransitionRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-32

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(11))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477250/944-220-S99-1

Reference 9: http://www.xbrl.org/2003/role/exampleRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 31
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-31

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 942
-SubTopic 235
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-05(b)(2))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477314/942-235-S99-1

Reference 11: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(10))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483621/220-10-S99-2

Reference 12: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 942
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(15))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478524/942-220-S99-1

+ Details

Income Taxes - Components Attributable to the Provision for Income Taxes (Details) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Current:
Federal	$ 1,639	$ 532	$ 0
State	5,683	1,456	563
Total current provision	7,322	1,988	563
Deferred:
Federal	(43,328)	12	(339)
State	(18,321)	(25)	(110)
Foreign	0	0	(145)
Total deferred benefit	(61,649)	(13)	(594)
Total (benefit) provision for income taxes	$ (54,327)	$ 1,975	$ (31)

Income Taxes - Effective Income Tax Rate Reconciliation (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Income Tax Disclosure [Abstract]
Tax provision (benefit) at federal statutory rate	$ 15,059	$ (4,530)	$ (13,799)
State taxes, net of federal benefits	2,700	1,636	(609)
Non-deductible officers' compensation	26,632	6,386	2,881
Non-deductible expenses	373	714	613
Transaction costs	0	0	(731)
Warrants and earn-outs	(1,141)	226	(15)
Research and development credits	(4,801)	(5,398)	0
Stock-based compensation	(28,361)	1,747	3,897
Change in valuation allowance	(65,021)	1,330	7,794
Other, net	233	(136)	(62)
Total (benefit) provision for income taxes	$ (54,327)	$ 1,975	$ (31)

Income Taxes - Components of Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Deferred tax assets:
Net operating loss carryforwards	$ 22,764	$ 53,309
Capitalized research and development	36,419	15,106
Inventory	6,131	1,890
Research and other credits	5,331	3,779
Accrued expenses and reserves	3,963	2,164
Operating lease liabilities	2,945	2,615
Stock-based compensation	2,425	3,572
Other intangible assets	289	350
Deferred revenue	192	124
Other deferred tax assets	907	87
Total gross deferred tax assets	81,366	82,996
Less valuation allowance	(2,493)	(70,506)
Total deferred tax assets	78,873	12,490
Deferred tax liabilities:
Fixed assets	(4,613)	(1,532)
Other intangible assets	(3,954)	(4,777)
Operating lease right-of-use assets	(2,824)	(2,519)
Prepaid expenses	(829)	(1,825)
Deferred state income tax	(3,846)	0
Other deferred tax liabilities	(1,204)	(1,859)
Total deferred tax liabilities	(17,270)	(12,512)
Net deferred tax assets (liabilities)		$ 22
Net deferred tax assets (liabilities)	$ 61,603

Income Taxes - Additional Details (Details) - USD ($)	12 Months Ended
Income Taxes - Additional Details (Details) - USD ($)	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Income Tax Contingency [Line Items]
Valuation allowance, deferred tax asset, increase (decrease), amount	$ (68,000,000.0)	$ 1,100,000
Operating loss carryforwards, domestic	60,800,000
Operating loss carryforwards, state	97,200,000
Operating loss carryforwards, foreign	9,900,000
Unrecognized tax benefits	6,011,000	2,313,000	$ 0
Unrecognized interest or penalties	0	$ 0	$ 0
2041
Income Tax Contingency [Line Items]
Tax carryforwards	6,900,000
Do Not Expire
Income Tax Contingency [Line Items]
Tax carryforwards	3,600,000
Federal
Income Tax Contingency [Line Items]
Operating loss carryforwards, not subject to expiration	60,200,000
State
Income Tax Contingency [Line Items]
Operating loss carryforwards, not subject to expiration	3,300,000
Foreign
Income Tax Contingency [Line Items]
Operating loss carryforwards, not subject to expiration	$ 9,900,000

Income Tax - Unrecognized Tax Benefits (Details) - USD ($)	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Unrecognized Tax Benefits [Roll Forward]
Beginning balance	$ 2,313,000	$ 0
Increases in balances related to prior year tax positions	2,042,000	1,357,000
Increases in balances related to current year tax positions	1,656,000	956,000
Ending balance	$ 6,011,000	$ 2,313,000

Subsequent Events (Details) $ in Thousands	1 Months Ended
Subsequent Events (Details) $ in Thousands	Feb. 24, 2025 USD ($) ft²	Jan. 31, 2025 USD ($) ft²	Dec. 31, 2024 USD ($)
Subsequent Event [Line Items]
Minimum lease payments			$ 14,389
Subsequent Event
Subsequent Event [Line Items]
Consideration transferred	$ 65,000
Upfront cash and stock consideration	30,000
Subsequent Event \| Revolving Credit Facility \| Line of Credit \| JPMorgan Chase Bank, N.A. Credit Facility
Subsequent Event [Line Items]
Line of credit facility, maximum borrowing capacity	$ 175,000
Debt Instrument, Term	3 years
Line of Credit Facility, Accordion Feature, Higher Borrowing Capacity Option	$ 125,000
Subsequent Event \| Letter of Credit \| Line of Credit \| JPMorgan Chase Bank, N.A. Credit Facility
Subsequent Event [Line Items]
Line of credit facility, maximum borrowing capacity	40,000
Subsequent Event \| Bridge Loan \| Line of Credit \| JPMorgan Chase Bank, N.A. Credit Facility
Subsequent Event [Line Items]
Line of credit facility, maximum borrowing capacity	20,000
Subsequent Event \| Sigmund NJ, LLC, Trybe Labs
Subsequent Event [Line Items]
Cash consideration	$ 5,000
Subsequent Event \| Mesa, Arizona
Subsequent Event [Line Items]
Operating lease, term of contract		127 months
Area of real estate property \| ft²		289,463
Early entry period		7 months
Tenant improvement allowance		$ 4,300
Minimum lease payments		$ 37,500
Lessee, operating lease, rent abatement period		7 months
Renewal term		60 months
Subsequent Event \| Menlo Park, California
Subsequent Event [Line Items]
Operating lease, term of contract	120 months
Area of real estate property \| ft²	38,483
Minimum lease payments	$ 43,500
Rent expense, annual escalation, percent	3.50%
Renewal term	60 months
Subsequent Event \| Minimum \| Mesa, Arizona
Subsequent Event [Line Items]
Rent expense, annual escalation, percent		3.00%
Subsequent Event \| Maximum
Subsequent Event [Line Items]
Consideration payable, maximum	$ 5,000
Cash and stock consideration	$ 30,000
Subsequent Event \| Maximum \| Mesa, Arizona
Subsequent Event [Line Items]
Rent expense, annual escalation, percent		4.00%