As of Q4'25, HIMS reported an Operating Cash Flow of $61.3M and a Free Cash Flow of -$9.7M. This marks a significant decline in Free Cash Flow compared to previous quarters, while Operating Cash Flow also decreased from the Q3'25 peak of $148.7M. From Q1'23 to Q4'25, both Operating and Free Cash Flow exhibited a generally upward trend, with notable volatility in 2025. Operating Cash Flow rose steadily through 2024, peaking sharply at $148.7M in Q3'25 before dropping to $61.3M in Q4'25. Free Cash Flow followed a similar growth trajectory, reaching $79.4M in Q3'25, but experienced two substantial declines: a negative value of -$69.4M in Q2'25 and -$9.7M in Q4'25. These fluctuations suggest increased cash flow volatility and potential operational or investment shifts in 2025. The data covers the period from Q1'23 to Q4'25.