Hims & Hers to Acquire Eucalyptus in Global Expansion

Hims & Hers Health ( (HIMS) ) has shared an announcement.

On February 19, 2026, Hims & Hers Health agreed to acquire Australian digital health company Eucalyptus for up to $1.15 billion, in a deal structured with about $240 million payable in cash at closing, further deferred payments over 18 months, and additional earnouts tied to performance through early 2029. The company can settle a majority of deferred and earnout obligations in cash or stock, plans to fund most of the transaction from existing cash and U.S. operating cash flows, and expects closing around mid-2026 subject to regulatory and customary conditions.

The acquisition is intended to accelerate Hims & Hers’ push to become a leading global consumer health platform by adding Eucalyptus’ fast-growing, nearly $450 million annual revenue run-rate business and strong local regulatory expertise in Australia, Europe, Canada, and Japan. Post-closing, Eucalyptus CEO Tim Doyle will lead international operations at Hims & Hers, its brands will be folded into the Hims & Hers platform over time, and management expects the combined capabilities to support category leadership in Australia and bolster its position as a major telehealth provider in the U.K. and Germany.

The most recent analyst rating on (HIMS) stock is a Buy with a $30.00 price target. To see the full list of analyst forecasts on Hims & Hers Health stock, see the HIMS Stock Forecast page.

Spark’s Take on HIMS Stock

According to Spark, TipRanks’ AI Analyst, HIMS is a Outperform.

The score is supported primarily by strong financial performance and upbeat earnings-call guidance (rapid revenue growth and solid adjusted EBITDA outlook), with an additional positive from the new buyback program. These strengths are tempered by weak technicals (price below all major DMAs with bearish MACD) and a premium valuation (P/E ~50) that increases execution risk if growth or margins disappoint.

To see Spark’s full report on HIMS stock, click here.

More about Hims & Hers Health

Hims & Hers Health, Inc. is a U.S.-based health and wellness platform that provides personalized, consumer-focused digital healthcare, including telehealth consultations and online pharmacy fulfillment. The company targets global consumers seeking simple, transparent, and high-quality care, and has been expanding beyond its core U.S. business into markets such as the U.K., Germany, Canada, Australia, and Japan.

Eucalyptus, founded in 2019, is Australia’s largest digital health provider and operates a portfolio of online healthcare brands, including Juniper and Pilot, across Australia, the U.K., Germany, Japan, and Canada. It has facilitated nearly two million consultations, serves more than 775,000 customers, and is the first Australian telehealth business accredited by the Australian Council on Healthcare Standards.

Average Trading Volume: 20,494,233

Technical Sentiment Signal: Sell

Current Market Cap: $3.7B

For an in-depth examination of HIMS stock, go to TipRanks’ Overview page.