NEW YORK, August 3, 2026, 4:55 p.m. EDT
- Shares closed at $30.82, up 10.98%, and traded at $30.92 after hours.
- The close stood 5.1% above its pre-FTC level on July 28.
- Preliminary midpoint math implies a 13.9% second-half adjusted EBITDA margin. May guidance excluded Eucalyptus.
Hims & Hers Health, Inc. NYSE:HIMS surged 10.98% to $30.82 on Monday. The stock added another 0.3% after regular trading ended. It outpaced the Nasdaq Composite’s 2.13% gain and the S&P 500’s 1.48% rise.
The rebound repaired last week’s regulatory selloff. Monday’s close was 5.1% above July 28, before the FTC lawsuit. The daily gain also equaled 78% of the options-implied earnings move.
| Date | Main event | Close | Daily move | Change from July 24 |
|---|---|---|---|---|
| July 24 | Starting point | $28.09 | -14.20% | — |
| July 27 | Rebound | $30.24 | +7.65% | +7.7% |
| July 28 | Pre-FTC close | $29.32 | -3.04% | +4.4% |
| July 29 | FTC lawsuit | $25.00 | -14.73% | -11.0% |
| July 30 | Initial recovery | $27.04 | +8.16% | -3.7% |
| July 31 | Week-end close | $27.77 | +2.70% | -1.1% |
| August 3 | Earnings-week rally | $30.82 | +10.98% | +9.7% |
Published closes come from Investing.com and MarketWatch. Cumulative moves are calculations based on those closes.
Shares still finished the July 27–31 week down 1.1%. They then climbed 23.3% from the lawsuit-day close through Monday. The market has erased the price damage.
Next comes the operating test. Hims reports second-quarter results after the August 10 close. Its conference call starts at 5 p.m. ET.
Options imply a 14% move around that report. That sits below the 15.2% average implied before the prior eight releases. Actual moves exceeded expectations three times.
| Earnings-volatility measure | August 10 setup | Prior eight reports |
|---|---|---|
| Implied share move | 14.0% | 15.2% average |
| Implied-move range | — | 13.3%–16.7% |
| Actual move exceeded implied move | — | 3 of 8 |
| Largest positive actual move | — | +76.1% |
| Largest negative actual move | — | -34.1% |
| Monday gain as share of current implied move | 78.4% | — |
The historical average and Monday comparison are calculations using published options and share-price data.
The harder number sits inside management’s May guidance. At the midpoint, second-quarter revenue rises 13.5% from the first quarter. Adjusted EBITDA rises just 1.6%. That would trim the margin to about 6.5%.
| Preliminary guidance bridge | Revenue | Adjusted EBITDA | Implied margin |
|---|---|---|---|
| Q1 2026 actual | $608.1 million | $44.3 million | 7.3% |
| Q2 midpoint estimate | $690.0 million | $45.0 million | 6.5% |
| Estimated first half | $1.298 billion | $89.3 million | 6.9% |
| Required second half at FY midpoint | $1.602 billion | $223.2 million | 13.9% |
| Full-year midpoint | $2.900 billion | $312.5 million | 10.8% |
These are preliminary calculations using management’s guidance midpoints. The May outlook excluded any potential Eucalyptus contribution.
Reaching the full-year midpoint would require a steep second-half lift. Adjusted EBITDA would need to rise about 150% from estimated first-half levels. Revenue would need to increase 23.4%. The required margin would more than double.
That comparison is not a forecast. Eucalyptus will alter the reported revenue and cost base. Still, the bridge shows the stand-alone margin burden embedded in the old outlook.
First-quarter results explain that burden. Revenue grew 4%, while gross margin dropped eight percentage points. U.S. revenue fell 8%. International revenue rose almost tenfold from a small base.
| Operating measure | Q1 2026 | Q1 2025 | Change |
|---|---|---|---|
| Revenue | $608.1 million | $586.0 million | +4% |
| U.S. revenue | $529.9 million | $578.7 million | -8% |
| Rest-of-world revenue | $78.2 million | $7.3 million | +969% |
| Subscribers | 2.584 million | 2.366 million | +9% |
| Monthly revenue per subscriber | $80 | $85 | -6% |
| Gross margin | 65% | 73% | -8 points |
| Adjusted EBITDA | $44.3 million | $91.1 million | -51% |
The company’s first-quarter release supplied the operating figures. The adjusted EBITDA change is calculated from reported amounts.
Chief Financial Officer Yemi Okupe said in May, “We expect growth to accelerate from here.” The August report must show where that growth lands. U.S. revenue and gross margin remain the clearest checks. Hims Inc.
Jefferies Financial Group NYSE:JEF analyst Brian Tanquilut framed the issue after the first quarter. Investors wanted proof that “the company’s earnings power has bottomed,” he said. Monday’s rally raised that bar. Reuters
Hims completed its Eucalyptus acquisition on June 2. The business had served more than 850,000 customers by May. It also adds operations across Australia, Canada, Germany, Japan and Britain.
The branded weight-loss pivot remains central. Hims now sells approved drugs from Novo Nordisk A/S NYSE:NVO, including Wegovy and Ozempic. The move toward branded treatments raised product costs and hurt first-quarter results.
Risks: The FTC alleges privacy, billing and cancellation violations. A court has not decided those claims. Hims called them baseless and said it would “vigorously defend” itself. Lower branded-drug margins and Eucalyptus integration add further execution risk. Federal Trade Commission
The price damage is gone. The earnings hurdle is not.
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