HIMS · Hims & Hers Health, Inc.

Hims & Hers Health, Inc. announced Q1 2026 results showing revenue of $608.1 million, a 4% increase from $586.0 million in the prior year, driven by subscriber growth to 2.584 million, up 9% year-over-year, though monthly revenue per average subscriber declined 6% to $80. U.S. revenue decreased 8% to $529.9 million, offset by explosive 969% growth in Rest of World revenue to $78.2 million. Gross margin compressed to 65% from 73%, reflecting strategic investments and expansion of branded GLP-1 products, as noted by CFO Yemi Okupe. The company swung to a GAAP net loss of $92.1 million from prior-year net income of $49.5 million, while Adjusted EBITDA fell to $44.3 million from $91.1 million. Operating cash flow was $89.4 million, with free cash flow at $53.0 million. Management raised full-year 2026 guidance to $2.8-$3.0 billion in revenue (10-12% Adjusted EBITDA margin) and Q2 to $680-$700 million, excluding the proposed Eucalyptus acquisition expected mid-2026. CEO Andrew Dudum emphasized acceleration in domestic business, category expansion, and investments in diagnostics and technology to achieve 2030 targets of $6.5 billion revenue and $1.3 billion Adjusted EBITDA, positioning Hims & Hers as the leading consumer health platform.