diff --git a/android/gradle.properties b/android/gradle.properties
index 244342f2514e9..42d4ff32632ad 100644
--- a/android/gradle.properties
+++ b/android/gradle.properties
@@ -44,6 +44,9 @@ newArchEnabled=true
 # If set to false, you will be using JSC instead.
 hermesEnabled=true
 
+# Use this property to enable or disable Hermes V1.
+hermesV1Enabled=true
+
 # Key Store Information
 MYAPP_UPLOAD_STORE_FILE=my-upload-key.keystore
 
diff --git a/ios/Podfile b/ios/Podfile
index 1d225fb991d16..e599ed08a4b62 100644
--- a/ios/Podfile
+++ b/ios/Podfile
@@ -89,6 +89,8 @@ target 'NewExpensify' do
 
   # ENV Variable enables/disables TurboModules
   ENV['RCT_NEW_ARCH_ENABLED'] = '1';
+  # ENV Variable enables/disables Hermes V1
+  ENV['RCT_HERMES_V1_ENABLED'] = '1';
 
 
   use_react_native!(
diff --git a/ios/Podfile.lock b/ios/Podfile.lock
index b4a40339469e4..94e95eed99c10 100644
--- a/ios/Podfile.lock
+++ b/ios/Podfile.lock
@@ -321,9 +321,9 @@ PODS:
     - GTMSessionFetcher/Core (< 4.0, >= 3.3)
   - GTMSessionFetcher/Core (3.5.0)
   - GzipSwift (5.1.1)
-  - hermes-engine (0.14.0):
-    - hermes-engine/Pre-built (= 0.14.0)
-  - hermes-engine/Pre-built (0.14.0)
+  - hermes-engine (250829098.0.4):
+    - hermes-engine/Pre-built (= 250829098.0.4)
+  - hermes-engine/Pre-built (250829098.0.4)
   - libavif/core (0.11.1)
   - libavif/libdav1d (0.11.1):
     - libavif/core
@@ -490,7 +490,6 @@ PODS:
     - React-jsinspectorcdp
     - React-jsitooling
     - React-perflogger
-    - React-rendererconsistency
     - React-runtimeexecutor
     - React-runtimescheduler
     - React-utils
@@ -516,7 +515,6 @@ PODS:
     - React-jsinspectorcdp
     - React-jsitooling
     - React-perflogger
-    - React-rendererconsistency
     - React-runtimeexecutor
     - React-runtimescheduler
     - React-utils
@@ -541,7 +539,6 @@ PODS:
     - React-jsinspectorcdp
     - React-jsitooling
     - React-perflogger
-    - React-rendererconsistency
     - React-runtimeexecutor
     - React-runtimescheduler
     - React-utils
@@ -568,7 +565,6 @@ PODS:
     - React-jsinspectorcdp
     - React-jsitooling
     - React-perflogger
-    - React-rendererconsistency
     - React-runtimeexecutor
     - React-runtimescheduler
     - React-utils
@@ -594,7 +590,6 @@ PODS:
     - React-jsinspectorcdp
     - React-jsitooling
     - React-perflogger
-    - React-rendererconsistency
     - React-runtimeexecutor
     - React-runtimescheduler
     - React-utils
@@ -620,7 +615,6 @@ PODS:
     - React-jsinspectorcdp
     - React-jsitooling
     - React-perflogger
-    - React-rendererconsistency
     - React-runtimeexecutor
     - React-runtimescheduler
     - React-utils
@@ -646,7 +640,6 @@ PODS:
     - React-jsinspectorcdp
     - React-jsitooling
     - React-perflogger
-    - React-rendererconsistency
     - React-runtimeexecutor
     - React-runtimescheduler
     - React-utils
@@ -672,7 +665,6 @@ PODS:
     - React-jsinspectorcdp
     - React-jsitooling
     - React-perflogger
-    - React-rendererconsistency
     - React-runtimeexecutor
     - React-runtimescheduler
     - React-utils
@@ -698,7 +690,6 @@ PODS:
     - React-jsinspectorcdp
     - React-jsitooling
     - React-perflogger
-    - React-rendererconsistency
     - React-runtimeexecutor
     - React-runtimescheduler
     - React-utils
@@ -724,7 +715,6 @@ PODS:
     - React-jsinspectorcdp
     - React-jsitooling
     - React-perflogger
-    - React-rendererconsistency
     - React-runtimeexecutor
     - React-runtimescheduler
     - React-utils
@@ -750,7 +740,6 @@ PODS:
     - React-jsinspectorcdp
     - React-jsitooling
     - React-perflogger
-    - React-rendererconsistency
     - React-runtimeexecutor
     - React-runtimescheduler
     - React-utils
@@ -776,7 +765,6 @@ PODS:
     - React-jsinspectorcdp
     - React-jsitooling
     - React-perflogger
-    - React-rendererconsistency
     - React-runtimeexecutor
     - React-runtimescheduler
     - React-utils
@@ -802,7 +790,6 @@ PODS:
     - React-jsinspectorcdp
     - React-jsitooling
     - React-perflogger
-    - React-rendererconsistency
     - React-runtimeexecutor
     - React-runtimescheduler
     - React-utils
@@ -828,7 +815,6 @@ PODS:
     - React-jsinspectorcdp
     - React-jsitooling
     - React-perflogger
-    - React-rendererconsistency
     - React-runtimeexecutor
     - React-runtimescheduler
     - React-utils
@@ -4516,7 +4502,7 @@ EXTERNAL SOURCES:
     :path: "../node_modules/group-ib-fp"
   hermes-engine:
     :podspec: "../node_modules/react-native/sdks/hermes-engine/hermes-engine.podspec"
-    :tag: hermes-v0.14.0
+    :tag: hermes-v250829098.0.4
   lottie-react-native:
     :path: "../node_modules/lottie-react-native"
   NitroModules:
@@ -4768,7 +4754,7 @@ SPEC CHECKSUMS:
   AirshipServiceExtension: 50d11b2f62c4a490d4e81a1c36f70e2ecb70a27e
   AppAuth: d4f13a8fe0baf391b2108511793e4b479691fb73
   AppLogs: 3bc4e9b141dbf265b9464409caaa40416a9ee0e0
-  boost: 659a89341ea4ab3df8259733813b52f26d8be9a5
+  boost: 7e761d76ca2ce687f7cc98e698152abd03a18f90
   DoubleConversion: cb417026b2400c8f53ae97020b2be961b59470cb
   EXConstants: b3c63be5f8648e4ab8e6ff5099b62f629247f969
   expensify-react-native-background-task: 03c640e1f5649692d058cba48c0a138f024a6dd3
@@ -4808,7 +4794,7 @@ SPEC CHECKSUMS:
   GTMAppAuth: f69bd07d68cd3b766125f7e072c45d7340dea0de
   GTMSessionFetcher: 5aea5ba6bd522a239e236100971f10cb71b96ab6
   GzipSwift: 893f3e48e597a1a4f62fafcb6514220fcf8287fa
-  hermes-engine: 6bc8fb50f6b2eb191c5be0f853dc1b2f63dbce95
+  hermes-engine: 11dcbff741d8ab1f9325e4ff6fde7f723e123e08
   libavif: 84bbb62fb232c3018d6f1bab79beea87e35de7b7
   libdav1d: 23581a4d8ec811ff171ed5e2e05cd27bad64c39f
   libwebp: 02b23773aedb6ff1fd38cec7a77b81414c6842a8
@@ -4836,7 +4822,7 @@ SPEC CHECKSUMS:
   React: 4bc1f928568ad4bcfd147260f907b4ea5873a03b
   React-callinvoker: 87f8728235a0dc62e9dc19b3851c829d9347d015
   React-Codegen: 4b8b4817cea7a54b83851d4c1f91f79aa73de30a
-  React-Core: 176a81025968530159589ec4a67fe2962909fce9
+  React-Core: 76bed73b02821e5630e7f2cb2e82432ee964695d
   React-CoreModules: 752dbfdaeb096658aa0adc4a03ba6214815a08df
   React-cxxreact: b6798528aa601c6db66e6adc7e2da2b059c8be74
   React-debug: b2c9f60a9b7a81cefd737cb61e31c2bc39fdfe17
@@ -4888,7 +4874,7 @@ SPEC CHECKSUMS:
   React-NativeModulesApple: e554252d69442010807867cc7d70c0008048ad20
   React-networking: 669cb54cc7e5b65d7dafeeb36970a1421adc8bb3
   React-oscompat: 80166b66da22e7af7fad94474e9997bd52d4c8c6
-  React-perflogger: decbf4d10c1f77d687af1d83a6ba9dc1b23715d6
+  React-perflogger: d6797918d2b1031e91a9d8f5e7fdd2c8728fb390
   React-performancecdpmetrics: 7706707d5dd49d708518a91abe456dcb585a5865
   React-performancetimeline: c9807b559901c4298a92f6bcb069f49f518b7020
   React-RCTActionSheet: 3bd5f5db9f983cf38d51bb9a7a198e2ebea94821
@@ -4904,7 +4890,7 @@ SPEC CHECKSUMS:
   React-RCTSettings: 2c45623d6c0f30851a123f621eb9d32298bcbb0c
   React-RCTText: 0ee70f5dc18004b4d81b2c214267c6cbec058587
   React-RCTVibration: 88557e21e7cc3fe76b5b174cba28ff45c6def997
-  React-rendererconsistency: 5236fe878921773ef9274c44e189e057672ef5bc
+  React-rendererconsistency: ac8a9e9ee3eb299458cc848944133ff4be46cc41
   React-renderercss: f04cbe3b06ee071c6ca724f41a3c3aa31332601e
   React-rendererdebug: 2a2e4f7d42abcbec2047e989a1afda5d62905679
   React-RuntimeApple: ce2ae0ea88316a7c708be1e6601e4ec5f6febdce
@@ -4940,7 +4926,7 @@ SPEC CHECKSUMS:
   RNSentry: f73f4da92e4c20841ab16e1fa22fc289bc2f9f4e
   RNShare: 1c1fde2c4134b9cf220ffebbd6df9c414036d382
   RNSVG: 74eb75bd44d62ba9969941e80d8f9832971c681f
-  RNWorklets: 01efdd402d236a13651ea5ea5437ca85a44e7afa
+  RNWorklets: b2d54014a57a29d3c5848283069360d982880e60
   SDWebImage: 16309af6d214ba3f77a7c6f6fdda888cb313a50a
   SDWebImageAVIFCoder: afe194a084e851f70228e4be35ef651df0fc5c57
   SDWebImageSVGCoder: 15a300a97ec1c8ac958f009c02220ac0402e936c
@@ -4954,6 +4940,6 @@ SPEC CHECKSUMS:
   VisionCamera: 30b358b807324c692064f78385e9a732ce1bebfe
   Yoga: 33b53536a0500d039f2cd78caf1d5d68712d3af7
 
-PODFILE CHECKSUM: ff148a26470031497393c45c4ba773f18f371221
+PODFILE CHECKSUM: 66f81d1d8606fb5a02422de6198484f2b557ca22
 
 COCOAPODS: 1.16.2
diff --git a/package-lock.json b/package-lock.json
index 6d6a8ce4307c2..1d0b66c1c9cae 100644
--- a/package-lock.json
+++ b/package-lock.json
@@ -26285,9 +26285,9 @@
       "license": "LGPL-3.0"
     },
     "node_modules/hermes-compiler": {
-      "version": "0.14.0",
-      "resolved": "https://registry.npmjs.org/hermes-compiler/-/hermes-compiler-0.14.0.tgz",
-      "integrity": "sha512-clxa193o+GYYwykWVFfpHduCATz8fR5jvU7ngXpfKHj+E9hr9vjLNtdLSEe8MUbObvVexV3wcyxQ00xTPIrB1Q==",
+      "version": "250829098.0.4",
+      "resolved": "https://registry.npmjs.org/hermes-compiler/-/hermes-compiler-250829098.0.4.tgz",
+      "integrity": "sha512-8PEHLTuGOXUAnv2zByUG7Vud0TbU21fPuVqlMuek8PZgdYwb7KFWjw3+6In9J93Tx/6c/nRf5I30vzbaHBlgAQ==",
       "license": "MIT"
     },
     "node_modules/hermes-estree": {
@@ -34890,17 +34890,6 @@
         "react-native-blob-util": ">=0.13.7"
       }
     },
-    "node_modules/react-native-performance": {
-      "version": "6.0.0",
-      "resolved": "https://registry.npmjs.org/react-native-performance/-/react-native-performance-6.0.0.tgz",
-      "integrity": "sha512-Sca75O8jhqXAnNbqvINnrw248Kv9cIwoGxToD8u2uX+BrkAxxXS+YhClEV5L3JdiOpdNCO1MJ5R9bgs2VkNpFg==",
-      "license": "MIT",
-      "optional": true,
-      "peer": true,
-      "peerDependencies": {
-        "react-native": "*"
-      }
-    },
     "node_modules/react-native-permissions": {
       "version": "5.4.0",
       "license": "MIT",
diff --git a/package.json b/package.json
index 62a35365ed60a..56423974689ed 100644
--- a/package.json
+++ b/package.json
@@ -374,6 +374,7 @@
     "express": "4.20.0",
     "elliptic": "6.5.7",
     "fast-json-patch": "3.1.1",
+    "hermes-compiler": "250829098.0.4",
     "webpack": "^5.104.1",
     "@blakeembrey/template": "1.2.0",
     "body-parser": "1.20.3",