NEW YORK, August 10, 2026, 16:34 EDT – Shares in Hims & Hers fell after the company reported revenue of $753 million, topping estimates, as profit margins tightened.
- Shares of Hims & Hers Health NYSE:HIMS declined 5.8% in after-hours trading to $29.92.
- Revenue for the second quarter increased by 38% to $753.2 million, surpassing analysts’ projection of $699 million.
- Gross margin declined by 12 percentage points, and the company posted a net loss of $86.3 million after reporting a profit in the previous year.
- The company increased its revenue forecast for 2026 while lowering the upper end of its adjusted EBITDA guidance.
Shares of Hims & Hers Health NYSE:HIMS dropped after the telehealth firm reported robust sales that were overshadowed by a steep swing to loss. The stock fell 5.8% to $29.92 in after-hours trading as of 16:15 EDT, following a close up 0.6% at $31.77.
The mixed response highlights a straightforward issue. While growth picked up pace, the gross profit generated per revenue dollar declined compared to a year ago. Investors are now looking for proof that expanding internationally and increased customer outlays can restore margin levels.
Revenue rose to $753.2 million, marking a 38% increase compared with $544.8 million. This figure surpassed the $699 million analyst consensus noted by Investor’s Business Daily by 7.8%. However, the company reported a net loss of $0.37 per share, compared with an anticipated loss of $0.05 per share.
| Q2 measure | 2026 | 2025 | Change |
|---|---|---|---|
| Revenue | $753.2m | $544.8m | +38% |
| Subscribers | 2.891m | 2.439m | +19% |
| Monthly revenue per subscriber | $92 | $76 | +21% |
| Gross margin | 64% | 76% | -12 points |
| Net result | -$86.3m | +$42.5m | -$128.8m |
| Adjusted EBITDA | $60.3m | $82.2m | -27% |
| Free cash flow | -$68.2m | -$69.4m | +$1.2m |
The company’s filing backs up all numbers in the table. It additionally reports $47.5 million in legal contingencies and $28.8 million for acquisition-related expenses. When the listed adjustments and tax impacts are excluded, net loss totaled $20.8 million.
Growth in international sales contributed significantly to the momentum. Revenue from markets outside the United States surged over 17 times to reach $131.4 million. International operations accounted for 17.4% of overall revenue, a notable increase from 1.4% the previous year.
Domestic revenue increased 16% to $621.8 million. Growth in subscribers and a 21% rise in monthly revenue per user indicate that the core platform broadened amid the company’s integration of acquisitions.
“Hims & Hers offers a top-tier healthcare experience worldwide at an affordable cost for almost 3 million individuals who depend on us for their healthcare needs,” said co-founder and Chief Executive Andrew Dudum. “We are demonstrating every quarter that supporting people’s well-being and achieving robust performance can go hand in hand.” Company release
The outlook increased the sales target but did not lift the minimum profit expectation.
| Outlook measure | New guidance | Prior guidance | Midpoint change |
|---|---|---|---|
| FY2026 revenue | $3.1bn-$3.3bn | $2.8bn-$3.0bn | +10.3% |
| FY2026 adjusted EBITDA | $275m-$325m | $275m-$350m | -4.0% |
| Q3 revenue | $880m-$900m | Not previously issued | $890m midpoint |
| Q3 adjusted EBITDA | $75m-$95m | Not previously issued | 9%-11% margin |
The earlier forecast was issued in the May quarter, while the updated ranges were released alongside Monday’s earnings. Revenue in the third quarter would show an 18.2% sequential increase at the midpoint. The outlook for full-year sales was raised; however, the upper limit for adjusted EBITDA dropped by $25 million.
Chief Financial Officer Yemi Okupe stated the quarter marked “a significant re-acceleration in our growth profile and the continued expanding reach of our platform.” Okupe added that domestic growth is expected to pick up further in the second half. Company release
Hims & Hers commands a significantly higher market valuation compared to other smaller telehealth companies. Teladoc Health NYSE:TDOC, American Well (NYSE:AMWL), and LifeMD NASDAQ:LFMD continue to post losses on a trailing basis or currently do not have a positive earnings multiple.
| Company | Monday close | Daily move | Market value |
|---|---|---|---|
| Hims & Hers NYSE:HIMS | $31.78 | up 0.6% | $7.26bn |
| Teladoc NYSE:TDOC | $7.08 | down 0.8% | $1.28bn |
| American Well (NYSE:AMWL) | $13.58 | off 0.3% | $226m |
| LifeMD NASDAQ:LFMD | $3.62 | rising 1.8% | $173m |
Google Finance provided closing prices and market capitalizations as of 16:15 EDT.
Wall Street showed caution ahead of the report. The consensus among 15 analysts was Hold, with an average price target of $29.23. This figure was 7.5% under the previous close at $31.59 and roughly in line with Monday’s after-hours level.
| Broker | Date | Rating | Target |
|---|---|---|---|
| Truist Financial NYSE:TFC | July 24 | Hold | $27 |
| Bank of America NYSE:BAC | July 1 | Neutral | $36 |
| Deutsche Bank NYSE:DB | May 5 | Hold | $25 |
| JPMorgan Chase NYSE:JPM | April 24 | Overweight | $35 |
| Citigroup NYSE:C | March 10 | Neutral | $24 |
The recommendation table reflects each broker’s most recent action available on MarketScreener. The consensus target range, spanning $21 to $40, highlights the significant impact of factors such as regulatory developments, customer retention, and the expense of international growth on analyst projections.
Risks: Hims & Hers is under federal investigation regarding privacy practices and billing procedures, faces ambiguity over compounded medications, and is exposed to acquisition-related integration expenses as well as fluctuating marketing performance. Gross margin could remain under pressure if the product mix deteriorates.
The upcoming test is the third-quarter midpoint target of $890 million. Hitting this would verify the sales rebound. Investors will also look for adjusted EBITDA close to the $85 million midpoint to demonstrate that growth is coming at a lower cost.
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