Hims & Hers Health (Hims & Hers (HIMS)) reported first-quarter financial results Monday after the market closed, and the numbers were a bit of a mixed bag. Revenue came in at $608.1 million, up 4% year-over-year but missing the Street consensus estimate of $616.9 million. The company also reported a loss of 40 cents per share, well below the expected profit of four cents per share.
That's the kind of headline that makes investors nervous, and the stock dropped 9.4% in after-hours trading to $26.40. But if you dig a little deeper, there's more to the story than just a miss.
Subscribers grew 9% year-over-year to 2.58 million in the first quarter, showing that the company is still adding customers at a healthy clip. CEO Andrew Dudum struck an optimistic tone, saying, "2026 is a defining year for Hims & Hers. We're not just growing, we're pulling away from the field on our path to becoming the world's largest consumer health platform." He noted that the domestic business is accelerating and the company is expanding into new categories and international markets. "The demand for a simpler, more personal path to feeling great has never been stronger, and Hims & Hers is increasingly the answer," Dudum added.
CFO Yemi Okupe highlighted a "strategic pivot" to expand the company's GLP-1 products in the first quarter, with early demand showing growing consumer reach. That pivot seems to be paying off, at least in terms of future expectations.
Looking ahead, the company issued second-quarter revenue guidance of $680 million to $700 million, well above the Street consensus of $642.95 million. Adjusted EBITDA for the quarter is expected to be between $35 million and $55 million. For the full fiscal year, Hims & Hers raised its revenue guidance from a range of $2.70 billion to $2.90 billion to a new range of $2.80 billion to $3 billion, compared to the consensus estimate of $2.75 billion. Full-year Adjusted EBITDA is expected to be between $275 million and $350 million.
Okupe expressed confidence in the company's trajectory, saying, "We expect growth to accelerate from here, and have high conviction in our 2030 targets of at least $6.5 billion in revenue and $1.3 billion in Adjusted EBITDA." The company also announced it will transition to releasing shareholder letters annually, while still providing quarterly updates and earnings releases.
So while the Q1 miss stings, the raised guidance and strong subscriber growth suggest that Hims & Hers is positioning itself for a bigger future. The stock's after-hours drop might be a knee-jerk reaction, but the long-term story remains compelling for those willing to look past the quarterly noise.
