Hims & Hers Beats Revenue Estimates, Ups Full-Year Outlook
Hims & Hers reports Q2 revenue of $753M, a 40% increase year-over-year. The company raised its full-year outlook on the back of strong global subscriber growth and a robust AI platform.
Hims & Hers reported second-quarter 2026 revenue of $753 million, up 40% year-over-year and roughly 9% above analyst estimates, while raising its full-year outlook.
The beat came alongside a wider-than-expected loss: adjusted EPS came in at negative $0.37 versus a negative $0.05 consensus, and gross margin fell to 64% from 76% a year earlier as the company absorbed costs tied to its branded weight-loss expansion. Free cash flow was negative $68 million for the quarter.
HIMS added 300,000 net new subscribers, pushing its global base to nearly 3 million, and raised full-year 2026 revenue guidance to $3.1-$3.3 billion, above the $3.05 billion consensus, with adjusted EBITDA guided to $275-$325 million. Management also pointed to $225 million remaining on its $250 million buyback authorization as a tool it can use if the stock trades below fundamental value.
One fundamentals-based valuation screen flagged the shares as roughly 21.9% undervalued following the print. The next signal to watch is whether subscriber growth can keep outpacing the margin compression from the weight-loss buildout.
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