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Side-by-side financial comparison of Hims & Hers Health, Inc. (HIMS) and StepStone Group Inc. (STEP). Click either name above to swap in a different company.
Hims & Hers Health, Inc. is the larger business by last-quarter revenue ($617.8M vs $586.5M, roughly 1.1× StepStone Group Inc.). Hims & Hers Health, Inc. runs the higher net margin — 3.3% vs -21.0%, a 24.4% gap on every dollar of revenue. On growth, StepStone Group Inc. posted the faster year-over-year revenue change (73.0% vs 28.4%). StepStone Group Inc. produced more free cash flow last quarter ($26.7M vs $-2.5M). Over the past eight quarters, Hims & Hers Health, Inc.'s revenue compounded faster (49.0% CAGR vs 28.2%).
Hims & Hers Health, Inc. is an American telehealth company established in 2017. The company provides prescription medications, over-the-counter medications, and personal care products.
Rosetta Stone Inc. is an American education technology software company that develops language, literacy and brain-fitness software. Best known for its language-learning products, in 2013, the company expanded beyond language into education-technology with its acquisitions of Livemocha, Lexia Learning, Fit Brains, and Tell Me More. In 2021, it became a subsidiary of IXL Learning.
HIMS vs STEP — Head-to-Head
Income Statement — Q4 FY2025 vs Q3 FY2026
| Metric | | |
|---|---|---|
| Revenue | $617.8M | $586.5M |
| Net Profit | $20.6M | $-123.5M |
| Gross Margin | 71.9% | — |
| Operating Margin | 1.5% | -33.2% |
| Net Margin | 3.3% | -21.0% |
| Revenue YoY | 28.4% | 73.0% |
| Net Profit YoY | -20.8% | 35.7% |
| EPS (diluted) | $0.08 | $-1.55 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $617.8M | $586.5M | ||
| Q3 25 | $599.0M | $454.2M | ||
| Q2 25 | $544.8M | $364.3M | ||
| Q1 25 | $586.0M | $377.7M | ||
| Q4 24 | $481.1M | $339.0M | ||
| Q3 24 | $401.6M | $271.7M | ||
| Q2 24 | $315.6M | $186.4M | ||
| Q1 24 | $278.2M | $356.8M |
| Q4 25 | $20.6M | $-123.5M | ||
| Q3 25 | $15.8M | $-366.1M | ||
| Q2 25 | $42.5M | $-38.4M | ||
| Q1 25 | $49.5M | $-18.5M | ||
| Q4 24 | $26.0M | $-192.0M | ||
| Q3 24 | $75.6M | $17.6M | ||
| Q2 24 | $13.3M | $13.3M | ||
| Q1 24 | $11.1M | $30.8M |
| Q4 25 | 71.9% | — | ||
| Q3 25 | 73.8% | — | ||
| Q2 25 | 76.4% | — | ||
| Q1 25 | 73.5% | — | ||
| Q4 24 | 76.8% | — | ||
| Q3 24 | 79.2% | — | ||
| Q2 24 | 81.3% | — | ||
| Q1 24 | 82.4% | — |
| Q4 25 | 1.5% | -33.2% | ||
| Q3 25 | 2.0% | -148.8% | ||
| Q2 25 | 4.9% | -5.6% | ||
| Q1 25 | 9.9% | 2.6% | ||
| Q4 24 | 3.9% | -101.7% | ||
| Q3 24 | 5.6% | 21.3% | ||
| Q2 24 | 3.5% | 29.4% | ||
| Q1 24 | 3.6% | 26.5% |
| Q4 25 | 3.3% | -21.0% | ||
| Q3 25 | 2.6% | -80.6% | ||
| Q2 25 | 7.8% | -10.5% | ||
| Q1 25 | 8.4% | -4.9% | ||
| Q4 24 | 5.4% | -56.6% | ||
| Q3 24 | 18.8% | 6.5% | ||
| Q2 24 | 4.2% | 7.2% | ||
| Q1 24 | 4.0% | 8.6% |
| Q4 25 | $0.08 | $-1.55 | ||
| Q3 25 | $0.06 | $-4.66 | ||
| Q2 25 | $0.17 | $-0.49 | ||
| Q1 25 | $0.20 | $-0.37 | ||
| Q4 24 | $0.10 | $-2.61 | ||
| Q3 24 | $0.32 | $0.26 | ||
| Q2 24 | $0.06 | $0.20 | ||
| Q1 24 | $0.05 | $0.47 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $228.6M | — |
| Total DebtLower is stronger | — | $270.2M |
| Stockholders' EquityBook value | $540.9M | $-378.8M |
| Total Assets | $2.2B | $5.2B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $228.6M | — | ||
| Q3 25 | $345.8M | — | ||
| Q2 25 | $1.1B | — | ||
| Q1 25 | $273.7M | — | ||
| Q4 24 | $220.6M | — | ||
| Q3 24 | $165.5M | — | ||
| Q2 24 | $129.3M | — | ||
| Q1 24 | $105.2M | — |
| Q4 25 | — | $270.2M | ||
| Q3 25 | — | $269.9M | ||
| Q2 25 | — | $269.6M | ||
| Q1 25 | — | $269.3M | ||
| Q4 24 | — | $168.9M | ||
| Q3 24 | — | $172.3M | ||
| Q2 24 | — | $172.1M | ||
| Q1 24 | — | $148.8M |
| Q4 25 | $540.9M | $-378.8M | ||
| Q3 25 | $581.0M | $-233.5M | ||
| Q2 25 | $562.7M | $153.9M | ||
| Q1 25 | $549.3M | $179.4M | ||
| Q4 24 | $476.7M | $209.8M | ||
| Q3 24 | $440.1M | $397.5M | ||
| Q2 24 | $362.0M | $366.9M | ||
| Q1 24 | $344.5M | $324.5M |
| Q4 25 | $2.2B | $5.2B | ||
| Q3 25 | $2.2B | $5.3B | ||
| Q2 25 | $1.9B | $4.8B | ||
| Q1 25 | $891.7M | $4.6B | ||
| Q4 24 | $707.5M | $4.3B | ||
| Q3 24 | $602.3M | $4.0B | ||
| Q2 24 | $480.5M | $3.8B | ||
| Q1 24 | $448.1M | $3.8B |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | 1.75× | ||
| Q1 25 | — | 1.50× | ||
| Q4 24 | — | 0.81× | ||
| Q3 24 | — | 0.43× | ||
| Q2 24 | — | 0.47× | ||
| Q1 24 | — | 0.46× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $61.3M | $27.2M |
| Free Cash FlowOCF − Capex | $-2.5M | $26.7M |
| FCF MarginFCF / Revenue | -0.4% | 4.6% |
| Capex IntensityCapex / Revenue | 10.3% | 0.1% |
| Cash ConversionOCF / Net Profit | 2.98× | — |
| TTM Free Cash FlowTrailing 4 quarters | $57.4M | $18.6M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $61.3M | $27.2M | ||
| Q3 25 | $148.7M | $16.2M | ||
| Q2 25 | $-19.1M | $46.3M | ||
| Q1 25 | $109.1M | $-66.5M | ||
| Q4 24 | $86.4M | $27.6M | ||
| Q3 24 | $85.3M | $53.7M | ||
| Q2 24 | $53.6M | $50.2M | ||
| Q1 24 | $25.8M | $7.6M |
| Q4 25 | $-2.5M | $26.7M | ||
| Q3 25 | $79.3M | $15.9M | ||
| Q2 25 | $-69.5M | $45.2M | ||
| Q1 25 | $50.1M | $-69.2M | ||
| Q4 24 | $59.5M | $27.0M | ||
| Q3 24 | $79.4M | $52.4M | ||
| Q2 24 | $47.6M | $49.6M | ||
| Q1 24 | $11.8M | $6.7M |
| Q4 25 | -0.4% | 4.6% | ||
| Q3 25 | 13.2% | 3.5% | ||
| Q2 25 | -12.8% | 12.4% | ||
| Q1 25 | 8.5% | -18.3% | ||
| Q4 24 | 12.4% | 8.0% | ||
| Q3 24 | 19.8% | 19.3% | ||
| Q2 24 | 15.1% | 26.6% | ||
| Q1 24 | 4.3% | 1.9% |
| Q4 25 | 10.3% | 0.1% | ||
| Q3 25 | 11.6% | 0.1% | ||
| Q2 25 | 9.3% | 0.3% | ||
| Q1 25 | 10.1% | 0.7% | ||
| Q4 24 | 5.6% | 0.2% | ||
| Q3 24 | 1.5% | 0.5% | ||
| Q2 24 | 1.9% | 0.3% | ||
| Q1 24 | 5.0% | 0.3% |
| Q4 25 | 2.98× | — | ||
| Q3 25 | 9.43× | — | ||
| Q2 25 | -0.45× | — | ||
| Q1 25 | 2.20× | — | ||
| Q4 24 | 3.32× | — | ||
| Q3 24 | 1.13× | 3.05× | ||
| Q2 24 | 4.03× | 3.76× | ||
| Q1 24 | 2.32× | 0.25× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
HIMS
Segment breakdown not available.
STEP
| Other | $210.1M | 36% |
| Management And Advisory Fees Net Focused Commingled Funds | $143.3M | 24% |
| Carried Interest Allocation Focused Commingled Funds | $85.1M | 15% |
| Carried Interest Allocation Separately Managed Accounts | $63.6M | 11% |
| Carried Interest Allocation Realized | $46.7M | 8% |
| Management And Advisory Fees Net Advisory And Other Services | $18.3M | 3% |
| Legacy Carried Interest Allocation Focused Commingled Funds | $10.3M | 2% |
| Income Based Incentive Fees | $6.0M | 1% |
| Management And Advisory Fees Net Fund Reimbursement Revenues | $3.1M | 1% |
