As of Q4'25, HIMS reported a Gross Margin of 71.9%, an Operating Margin of 1.5%, and a Net Profit Margin of 3.3%. These latest figures indicate that while the company maintains a strong gross profitability, its operating and net margins remain relatively modest. From Q1'23 to Q4'25, the Gross Margin has gradually declined from 80.4% to 71.9%, reflecting some pressure on cost structure or pricing. Operating Margin improved from -5.9% in Q1'23 to positive territory by Q1'24, peaking at 9.9% in Q1'25 before moderating to 1.5% in Q4'25. Net Profit Margin followed a similar trajectory, turning positive in Q4'23 and reaching a high of 18.8% in Q3'24, but subsequently normalizing to 3.3% by Q4'25. Overall, the chart shows initial margin expansion followed by stabilization, with profitability metrics remaining positive but off their recent peaks. The data covers the period from Q1'23 to Q4'25.