# Hims & Hers (HIMS) Q2 2026 earnings

Results filed 2026-08-10 for the quarter ended 2026-06-30. Source page: https://earnings.opennash.com/companies/hims/2026-q2/
Press release and exhibits: https://www.sec.gov/Archives/edgar/data/1773751/000177375126000161/0001773751-26-000161-index.htm
> Summaries and transcripts are machine-generated and can contain errors.

## In brief

Hims & Hers reported second quarter 2026 revenue of approximately $753 million, up 38% year-over-year, with subscribers of nearly 2.9 million, up 19% year-over-year, and a net loss of $86.3 million.

Hims & Hers grew revenue 38% to $753.2 million in the second quarter, and subscribers rose 19% to 2,891 thousand. U.S. revenue grew 16%. Rest of the World revenue jumped from $7,547 thousand to $131,384 thousand after the Eucalyptus acquisition closed in June. Profits fell, though. Gross margin dropped to 64% from 76%, the company posted a net loss of $86.3 million, and Adjusted EBITDA declined to $60.3 million. Legal contingencies and acquisition costs added to expenses.
Management raised its full year 2026 revenue outlook to $3.1 billion to $3.3 billion. It expects third quarter revenue of $880 million to $900 million and says U.S. growth should keep accelerating in the second half. Adjusted EBITDA guidance is $275 million to $325 million for the year. The main tension is profitability. Margins are lower than a year ago, free cash flow was negative $68.2 million in the quarter, and the acquisition has added debt-like obligations and goodwill.

## Key numbers

| Metric | Value | Change | Basis |
| --- | --- | --- | --- |
| Revenue | $753.2 million | up 38% year-over-year | GAAP |
| Net loss | $86.3 million | compared to net income of $42.5 million a year ago | GAAP |
| Diluted EPS | $(0.37) | compared to $0.17 a year ago | GAAP |
| Gross margin | 64% | compared to 76% a year ago | GAAP |
| Loss from operations | (97,192) | compared to income of 26,723 a year ago | GAAP |
| Net cash used in operating activities | $(35.9) million | compared to $(19.1) million a year ago | GAAP |
| Free Cash Flow | $(68.2) million | compared to $(69.4) million a year ago | non-GAAP |
| Adjusted EBITDA | $60.3 million | compared to $82.2 million a year ago | non-GAAP |

## Segments and operating metrics

| Name | Value | Change |
| --- | --- | --- |
| Subscribers (end of period, thousands) | 2,891 | 19% |
| Monthly Revenue per Average Subscriber | $92 | 21% |
| United States Revenue | $621,830 | 16% |
| Rest of the World Revenue | 131,384 | 1,641% |

## Outlook

| Metric | Period | Outlook |
| --- | --- | --- |
| Revenue | third quarter 2026 | $880 million to $900 million |
| Adjusted EBITDA | third quarter 2026 | $75 million to $95 million |
| Adjusted EBITDA margin | third quarter 2026 | 9% to 11% |
| Revenue | full year 2026 | $3.1 billion to $3.3 billion |
| Adjusted EBITDA | full year 2026 | $275 million to $325 million |
| Adjusted EBITDA margin | full year 2026 | 9% to 10% |
| 2030 revenue target | 2030 | at least $6.5 billion |
| 2030 Adjusted EBITDA target | 2030 | $1.3 billion |

## Key takeaways

1. **Revenue grew 38% on international expansion** Revenue was $753.2 million versus $544.8 million a year ago, with Rest of the World revenue of $131,384 thousand versus $7,547 thousand after the Eucalyptus acquisition closed in June.
2. **U.S. growth re-accelerated to 16%** United States Revenue rose 16% to $621,830 thousand, compared with 3% growth for the six months ended June 30, 2026. Management expects the domestic business to keep accelerating through the second half.
3. **Gross margin fell to 64% from 76%** Cost of revenue rose to $272,411 thousand from $128,637 thousand, outpacing revenue growth and squeezing gross profit margin year over year.
4. **Net loss of $86.3 million after legal charges** The quarter included $47,500 thousand of legal contingencies and $28,835 thousand of acquisition and transaction-related costs. Adjusted EBITDA was $60.3 million versus $82.2 million.
5. **Full-year revenue guidance raised to $3.1-$3.3 billion** Third quarter revenue is guided to $880 million to $900 million, and full year Adjusted EBITDA is guided to $275 million to $325 million, a 9% to 10% margin.

## Questions

**What were Hims & Hers' second quarter 2026 revenue and growth?** Revenue was $753.2 million, up 38% from $544.8 million a year ago. U.S. revenue grew 16% and Rest of the World revenue rose to $131,384 thousand from $7,547 thousand.
**Was Hims & Hers profitable in the quarter?** No. It reported a net loss of $86.3 million, or $(0.37) per diluted share, versus net income of $42.5 million a year ago. Non-GAAP Adjusted EBITDA was still positive at $60.3 million.
**What is the company's guidance for the third quarter and full year 2026?** For the third quarter it expects revenue of $880 million to $900 million and Adjusted EBITDA of $75 million to $95 million. For 2026 it expects revenue of $3.1 billion to $3.3 billion and Adjusted EBITDA of $275 million to $325 million.
**Why did gross margin decline?** Gross margin fell to 64% from 76% a year ago as cost of revenue rose to $272,411 thousand from $128,637 thousand. The release does not give a detailed breakdown of the drivers.
**How many subscribers does Hims & Hers have and what is its cash position?** Subscribers reached 2,891 thousand, up 19%, and Monthly Revenue per Average Subscriber was $92. Cash and cash equivalents were $609,811 thousand at June 30, 2026, and Free Cash Flow for the quarter was $(68.2) million.

## Slides and investor documents

- [Presentation](https://s27.q4cdn.com/787306631/files/doc_financials/2026/q2/Hims-and-Hers_Q2-2026-Investor-Deck_Final-2.pdf) (Slide deck)
- [Transcript](https://s27.q4cdn.com/787306631/files/doc_financials/2026/q2/Q2-2026-Earnings-Call-Transcript.pdf) (Company's official transcript)
- [Earnings Webcast](https://events.q4inc.com/attendee/782611911) (Webcast replay)
- [10-Q](https://d18rn0p25nwr6d.cloudfront.net/CIK-0001773751/076c4599-0b45-430b-bf9f-d7a4dd6ea41c.pdf) (Document)