Hims & Hers Health (HIMS) Earnings Date & Reports

Key Takeaways

• Hims & Hers Health is scheduled to report second-quarter 2026 results on August 10, 2026, after market close.
• Company guidance calls for Q2 revenue between $680 million and $700 million, implying approximately 25% to 28% year-over-year growth.
• Adjusted EBITDA (earnings before interest, taxes, depreciation, and amortization) is expected to land between $35 million and $55 million, down sharply from $82.2 million in the prior-year quarter.
• Wall Street analysts project a consensus loss of approximately $0.05 per share, reflecting ongoing margin compression tied to the strategic shift toward branded weight-loss medications.
• Investor focus will center on subscriber retention trends for branded Wegovy, international expansion momentum, and any updates to full-year 2026 guidance.

Earnings Context and Why It Matters

This earnings report arrives at a pivotal moment for Hims & Hers Health. The company is navigating a deliberate and closely watched strategic transition away from compounded GLP-1 (glucagon-like peptide-1) weight-loss drugs toward FDA-approved branded medications, most notably Novo Nordisk's Wegovy. The first quarter of 2026 delivered a jarring GAAP (Generally Accepted Accounting Principles) net loss of $92.1 million, driven by approximately $33 million in restructuring charges tied to the GLP-1 supply chain wind-down. With the stock trading near $33 — far below its 52-week high of $70.43 — the Q2 print will serve as a critical test of whether the branded strategy can reaccelerate revenue growth and restore investor confidence.

Earnings Expectations

For the second quarter of 2026, Hims & Hers management has guided revenue to a range of $680 million to $700 million, representing year-over-year growth of roughly 25% to 28% compared to the $544.8 million reported in Q2 2025. That would mark a significant reacceleration from the 4% growth posted in Q1 2026, when the company intentionally wound down compounded semaglutide sales. On the profitability side, adjusted EBITDA is expected to come in between $35 million and $55 million, implying a margin of roughly 5% to 8%. This represents a steep decline from the $82.2 million in adjusted EBITDA reported a year earlier, largely reflecting the near-term margin drag of branded product economics, onboarding costs, and elevated investment in technology and international infrastructure.

Wall Street consensus estimates vary across sources but generally point to an earnings per share (EPS) loss of approximately $0.05 for the quarter. Revenue consensus sits near $692 million, comfortably within the company's own guidance range. Key operating metrics to watch include total subscriber count (which stood at nearly 2.6 million exiting Q1), monthly revenue per average subscriber, and gross margin, which compressed to 65% in Q1 from 73% a year ago.

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Market Reaction and Investor Sentiment

Sentiment heading into the Q2 report remains cautious but not uniformly bearish. Shares of Hims & Hers have recovered to the low-$30s range after plunging below $14 earlier in 2026, but the stock remains down more than 50% from its all-time highs. The Q1 earnings miss triggered a one-day drop of roughly 11%, and analysts have since taken a guarded stance: Barclays and Canaccord maintain bullish ratings with price targets of $39 and $40 respectively, while Truist holds at $23 and BofA remains neutral. The wide dispersion in analyst targets reflects genuine uncertainty about Wegovy subscriber retention — early data suggests customers face a sharp price increase from $39 in month one to $149 per month thereafter, which could drive elevated churn. An FDA advisory committee meeting on peptide compounding, held in late July, may also color sentiment depending on whether it opens new revenue pathways for the company.

Forward Outlook and Key Factors to Monitor

Beyond the headline revenue and EBITDA figures, several factors will shape the post-earnings narrative for Hims & Hers. First and foremost is subscriber retention in the branded weight-loss segment. The company disclosed that it shipped over 125,000 Wegovy orders within the first six weeks of launch and is on track to add more than 100,000 weight-loss subscribers per month. Whether those customers remain on the platform after the introductory pricing period ends will be a decisive metric for the sustainability of the growth model.

Second, international expansion continues to emerge as a powerful secondary engine. International revenue surged nearly tenfold year-over-year to $78 million in Q1 2026, driven by the acquisitions of ZAVA and Livewell. The pending acquisition of Australian telehealth platform Eucalyptus, expected to close in the second half of 2026, would extend the company's footprint across five additional markets including Australia, the United Kingdom, Germany, Japan, and Canada.

Third, investors should watch for any revisions to full-year guidance. Management currently projects 2026 revenue of $2.8 billion to $3.0 billion and adjusted EBITDA of $275 million to $350 million. A narrowing or upward adjustment to either range would signal confidence in the branded GLP-1 transition, while a downward revision would reinforce concerns about execution risk. Gross margin trajectory and marketing spend as a percentage of revenue — which improved to 36% in Q1 from 39% a year earlier — will also offer important signals about the path to profitability.

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