Telehealth provider Hims & Hers Health reported second-quarter CY2026 revenue of $753.2 million, a 38.2 percent increase year-over-year that exceeded Wall Street estimates by 7.8 percent. The company issued third-quarter guidance projecting revenue of $890 million at the midpoint—12.4 percent above analyst expectations.
Despite the top-line beat and strong Q3 outlook, shares fell 9.7 percent over the past week after the company trimmed the upper end of its full-year adjusted EBITDA forecast, citing higher projected operating expenditures.
The company's GAAP loss reached $0.37 per share in the second quarter, coming in below analysts' consensus estimates.
The EBITDA revision reflects increased spending across GLP-1 weight-loss drugs, artificial intelligence integration, diagnostics and international expansion. That capital deployment is pressuring near-term profitability as the company pursues new product categories and markets.
Hims & Hers expanded its customer base to 2.89 million in the quarter. Over the past two years, customer count grew at an average of 25.1 percent year-over-year—well below the 55.4 percent annualized revenue growth over the same period, indicating higher per-customer spending.
Over the past five years, the company posted annualized revenue growth of 67.5 percent. The two-year annualized rate of 55.4 percent represents some deceleration from that trend but still reflects strong demand.
Sell-side analysts project revenue growth of 25.7 percent over the next 12 months, a further step down from the two-year pace.
Shares closed at $41.03. The average analyst price target was lowered by $0.75 to $46.67 per share as analysts adjusted revenue growth expectations.
Expanding into the GLP-1 market requires sustained investment in research, development and marketing—a departure from the company's original focus on hair loss and sexual health. The strategy aims to diversify revenue streams, but carries higher upfront costs that will weigh on adjusted EBITDA until the investments mature.
