TLDR
- Hims & Hers (HIMS) stock fell 11.8% Monday to $22.94 and slipped to about $22.10 premarket Tuesday.
- Q3 brought a loss of 14 cents a share against an expected profit of 6 cents.
- Revenue rose 49% to $890.4 million, but gross margin fell to 57% from 74%.
- Subscribers reached 2.79 million, short of the 3.04 million Wall Street expected.
- Q4 revenue guidance of $875 million to $895 million came in below the roughly $955 million consensus.
Hims & Hers (HIMS) stock is trading near $22.10 in premarket action Tuesday, down about 4%. That follows an 11.8% drop on Monday to $22.94.
Hims & Hers Health, Inc., HIMS
Monday’s close was the lowest since May 19, when the stock finished at $22.44. Friday’s 8% gain was gone in a single session.
The telehealth company posted a third-quarter loss of 14 cents a share. Analysts had expected a profit of 6 cents.
$HIMS & HERS Q3’26 EARNINGS HIGHLIGHTS
🔹 Revenue: $890.4M (Est. $893M) 🔴; +49% YoY
🔹 EPS: -$0.14 (Est. $0.06) 🔴
🔹 Adj. EBITDA: $82.4M (Est. $85.1M) 🔴; +5% YoY
🔹 Gross Margin: 57%; -1,700 bps YoYCustomers & Assets:
🔹 Subscribers: 2,788; +13% YoY
🔹 Monthly Revenue per… pic.twitter.com/88sYs9ObkP— Wall St Engine (@wallstengine) November 9, 2026
Revenue hit $890.4 million, up 49% from a year ago. That landed just under the $893 million FactSet consensus.
Net loss was $33.0 million, compared with net income of $15.8 million a year earlier. Analysts had looked for a profit of $13.9 million.
Where the margin went
Gross margin fell to 57% from 74% a year ago. Investing.com tied the drop to a pivot toward lower-margin branded GLP-1 drugs and faster growth overseas.
International revenue jumped 321% to $233.3 million. Domestic revenue rose 21% to $657.1 million.
Subscribers grew 13% from a year ago to 2.79 million. Wall Street had penciled in 3.04 million.
That count slipped about 100,000 from the second quarter. Management pointed to lower marketing spend ahead of planned platform expansions.
Revenue per average subscriber climbed 30% to $105. So each customer is worth more, but there are fewer of them than hoped.
Guidance and the Lilly deal
For the fourth quarter, Hims expects revenue of $875 million to $895 million. Analysts were looking for about $955 million.
Adjusted EBITDA is guided to $70 million to $90 million, an 8% to 10% margin. Full-year revenue guidance narrowed to $3.13 billion to $3.15 billion, from $3.1 billion to $3.3 billion.
The full-year adjusted EBITDA outlook was cut to $257 million to $277 million. The prior range was $275 million to $325 million.
Last Friday, Hims announced a deal with Eli Lilly to sell Zepbound and Foundayo on its platform. Self-pay pricing starts at $149 a month for the oral Foundayo and $299 for injectable Zepbound.
CEO Andrew Dudum said “whoever owns the customer relationship wins.” CTO Mo Elshenawy said Hers weight-loss customers now send three times as many messages, with AI answering 80% of their questions.
The stock is down 29.4% this year and 44.1% over the past 12 months. Its 52-week high is $41.28.
Insiders sold about $19.4 million of stock over the past year, against $1.2 million in purchases. Six analysts have recently cut their earnings estimates.
Hims also plans to add unapproved peptide treatments such as NAD+ and sermorelin, and named Stanford neuroscientist Andrew Huberman to its board. In premarket trading Tuesday, the stock sat at $22.10.
