Hims & Hers Health, Inc. (HIMS)
NYSE:HIMS
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Hims & Hers Health
(NYSE:HIMS)
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Rating:55Neutral
Price Target:
$23.00
▼(-8.18% Downside)
Action:Reiterated
Date:05/20/26
The score reflects a high-growth, cash-generative business with improved forward guidance and strong GLP-1 adoption momentum, tempered by materially higher balance-sheet leverage, recent GAAP losses and margin pressure. Technicals add near-term risk as the stock remains in a downtrend, while valuation support is limited by negative earnings and no dividend.
Positive Factors
Recurring subscription model
A large, growing subscriber base creates predictable recurring revenue and strong customer lifetime value. High engagement (app downloads and multiple provider interactions) supports retention and cohort compounding, giving durable revenue visibility and operating-leverage potential as acquisition costs amortize.
Negative Factors
Elevated leverage
Higher leverage reduces financial flexibility and raises refinancing and covenant risks, especially if cash flow growth slows. The planned convertible notes increase liability and potential dilution, constraining optionality for M&A or margin-investing initiatives and elevating execution risk over the medium term.
Read all positive and negative factors
Positive Factors
Negative Factors
Recurring subscription model
A large, growing subscriber base creates predictable recurring revenue and strong customer lifetime value. High engagement (app downloads and multiple provider interactions) supports retention and cohort compounding, giving durable revenue visibility and operating-leverage potential as acquisition costs amortize.
Read all positive factors
Hims & Hers Health Key Performance Indicators (KPIs)
Any
Subscriptions
Tracks the number of active subscriptions, highlighting recurring revenue streams and customer retention strength.
Tracks the number of active subscriptions, highlighting recurring revenue streams and customer retention strength.
Data provided by:
The Fly
The FlyHims & Hers Health (HIMS) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$5.41B
Dividend YieldN/A
Average Volume (3M)31.58M
Price to Earnings (P/E)―
Beta (1Y)2.55
Revenue Growth32.81%
EPS Growth-107.11%
CountryUS
Employees1,637
SectorHealthcare
Sector Strength45
IndustryMedical - Equipment & Services
Share Statistics
EPS (TTM)-0.05
Shares Outstanding219,561,140
10 Day Avg. Volume28,227,132
30 Day Avg. Volume31,578,709
Financial Highlights & Ratios
PEG Ratio-33.00
Price to Book (P/B)13.50
Price to Sales (P/S)3.11
P/FCF Ratio98.76
Enterprise Value/Market Cap1.13
Enterprise Value/Revenue2.58
Enterprise Value/Gross Profit3.82
Enterprise Value/Ebitda61.34
Forecast
1Y Price Target
$28.51Price Target Upside13.82% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering16
EPS Forecast (FY)-0.04
Revenue Forecast (FY)$2.89B
Hims & Hers Health Business Overview & Revenue Model
Company Description
Hims & Hers Health, Inc. operates a multi-specialty telehealth platform that connects consumers to licensed healthcare professionals. The company offers a range of health and wellness products and services available to purchase on its websites and...
How the Company Makes Money
Hims & Hers primarily makes money through direct-to-consumer sales tied to its telehealth platform. The core revenue stream is product revenue generated when customers purchase prescription treatments (after completing an online intake and, when a...
Hims & Hers Health Earnings Call Summary
Earnings Call Date:May 11, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Aug 10, 2026
Earnings Call Sentiment Positive
The call presented a mix of near-term headwinds tied to a deliberate strategic pivot (one-time restructuring charges, gross-margin pressure, GAAP loss and short-term volatility) alongside several strong growth signals: raised full-year revenue guide, rapid adoption of branded GLP-1 products (125k+ Wegovy shipments in six weeks and on track for >100k monthly subscribers), international revenue growth (~10x to $78M), positive operating cash flow ($89M) and deep investments in AI, labs and verticalized supply chain. Management expects accelerating EBITDA in H2 as monthly cohorts compound and efficiencies emerge. Given the substantial operational and commercial progress and the forward-looking guidance offsetting temporary accounting and margin noise, the positive operational momentum and upgraded outlook outweigh the short-term financial disruptions.Positive Updates
Revenue Growth and Raised Full-Year Guidance
Q1 revenue grew 4% year-over-year to $608 million. Management raised 2026 revenue guidance to $2.8 billion–$3.0 billion (a 19%–28% YoY increase) and expects Q2 revenue of $680 million–$700 million (25%–28% YoY).
Negative Updates
One-Time Restructuring Charges from Strategic Pivot
The March strategic pivot to prioritize branded weight-loss products resulted in approximately $33 million of restructuring costs in Q1 (about $28 million impacting gross margin and $5 million hitting operations/support), creating near-term financial noise.
Read all updates
Q1-2026 Updates
Positive
Negative
Revenue Growth and Raised Full-Year Guidance
Q1 revenue grew 4% year-over-year to $608 million. Management raised 2026 revenue guidance to $2.8 billion–$3.0 billion (a 19%–28% YoY increase) and expects Q2 revenue of $680 million–$700 million (25%–28% YoY).
Read all positive updates
Company Guidance
Management raised 2026 revenue guidance to $2.8–$3.0 billion (up 19–28% YoY) and expects 2026 adjusted EBITDA of $275–$350 million (≈11% margin at the midpoint); Q2 revenue is guided to $680–$700 million (+25–28% YoY) with Q2 adjusted EBITDA $35–$55 million (≈7% margin at the midpoint). In Q1 the company reported $608 million revenue (+4% YoY), adjusted EBITDA $44 million (7% margin), GAAP net loss $92 million, cash from operations $89 million and free cash flow $53 million, with nearly 2.6 million subscribers (+9% YoY) and international revenue of ~$78 million (~10x YoY). Q1 gross margin was 65% (70% adjusted after ~$28M of one‑time gross‑margin impact) and the company incurred ~$33M of restructuring charges ($28M related to the compounded GLP‑1 supply chain, ~$5M to operations/support). Balance sheet and capital items noted $751M cash and short‑term investments and $225M remaining on the repurchase program; operational signals tied to the outlook include being on track to add north of 100,000 weight‑loss subscribers/month, >125,000 Wegovy shipments fulfilled in six weeks, ~90% of those users download the app and average 3 provider interactions in month one, 95% of testosterone customers saw increased levels within two months, and marketing as a percent of revenue improved 3 points to 36% in Q1.Hims & Hers Health Financial Statement Overview
Summary
Income Statement
62
Positive
Balance Sheet
38
Negative
Cash Flow
70
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 2.37B | 2.35B | 1.48B | 872.00M | 526.92M | 271.88M |
| Gross Profit | 1.60B | 1.73B | 1.17B | 714.95M | 408.72M | 204.49M |
| EBITDA | 99.84M | 160.12M | 78.99M | -19.94M | -61.22M | -110.97M |
| Net Income | -13.23M | 128.37M | 126.04M | -23.55M | -65.68M | -107.66M |
Balance Sheet | ||||||
| Total Assets | 2.27B | 2.15B | 707.54M | 441.19M | 366.34M | 420.58M |
| Cash, Cash Equivalents and Short-Term Investments | 750.88M | 577.49M | 300.25M | 220.98M | 179.63M | 247.27M |
| Total Debt | 1.13B | 1.26B | 11.35M | 9.95M | 5.31M | 5.48M |
| Total Liabilities | 1.82B | 1.61B | 230.82M | 97.16M | 54.60M | 85.97M |
| Stockholders Equity | 446.17M | 540.93M | 476.72M | 344.03M | 311.74M | 334.62M |
Cash Flow | ||||||
| Free Cash Flow | 75.84M | 73.96M | 198.33M | 46.99M | -33.78M | -39.42M |
| Operating Cash Flow | 283.66M | 300.01M | 251.08M | 73.48M | -26.53M | -34.41M |
| Investing Cash Flow | -1.01B | -1.02B | -19.05M | -12.11M | 34.70M | -156.27M |
| Financing Cash Flow | 671.37M | 729.62M | -107.84M | -11.47M | -33.13M | 235.04M |
Hims & Hers Health Technical Analysis
Negative
25.05
Price Trends
24.25
Negative
24.31
Negative
34.94
Negative
Market Momentum
-0.45
Positive
46.06
Neutral
28.96
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HIMS, the sentiment is Negative. The current price of 25.05 is below the 20-day moving average (MA) of 25.79, above the 50-day MA of 24.25, and below the 200-day MA of 34.94, indicating a bearish trend. The MACD of -0.45 indicates Positive momentum. The RSI at 46.06 is Neutral, neither overbought nor oversold. The STOCH value of 28.96 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for HIMS.
Hims & Hers Health Risk Analysis
Hims & Hers Health disclosed 71 risk factors in its most recent earnings report. Hims & Hers Health reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Hims & Hers Health Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
73 Outperform | $3.65B | 22.23 | 19.36% | ― | 13.05% | -12.34% | |
72 Outperform | $897.49M | 142.74 | 3.31% | ― | -1.19% | -21.87% | |
55 Neutral | $5.41B | -12.87 | -2.48% | ― | 32.81% | -107.11% | |
54 Neutral | $287.90M | 47.78 | 6.84% | 2.39% | -14.17% | ― | |
54 Neutral | $1.19B | -3.82 | -12.37% | ― | -1.50% | 83.75% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
47 Neutral | $813.80M | -23.40 | -5.14% | 3.51% | -5.30% | -196.78% |
* Healthcare Sector Average
HIMS
Hims & Hers Health
23.75
-31.08
-56.68%
NUS
Nu Skin
5.93
-1.15
-16.25%
TDOC
Teladoc
6.57
-0.24
-3.52%
EPC
Edgewell Personal Care
17.66
-8.99
-33.74%
GDRX
GoodRx Holdings
2.65
-1.18
-30.81%
DOCS
Doximity
19.94
-32.16
-61.73%
Hims & Hers Health Corporate Events
Business Operations and StrategyM&A TransactionsPrivate Placements and Financing
Hims & Hers Plans $300M Convertible Notes for Expansion
Positive
May 19, 2026
On May 18, 2026, Hims Hers Health, Inc. announced a proposed private offering of $300 million in convertible senior notes due 2032, with an option for initial purchasers to buy an additional $45 million, targeting qualified institutional buyers u...
Business Operations and StrategyLegal Proceedings
Hims & Hers revamps GLP-1 strategy with Novo Nordisk
Positive
Mar 12, 2026
On March 9, 2026, Hims Hers announced a strategic overhaul of its U.S. weight-loss business, aligning it with its global model by prioritizing a wider range of FDA-approved GLP-1 medications and limiting the use of compounded semaglutide to selec...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.