Key Takeaways
- Hims & Hers delivers Q2 2026 financial results after today’s closing bell, August 10
- Analyst forecasts point to a $0.05 per share loss with revenue reaching approximately $698.9 million, representing ~28% annual growth
- Truist analysts believe HIMS is “well-positioned” to surpass upper-end Q2 revenue projections, fueled by GLP-1 momentum
- The derivatives market anticipates a 14.5% price swing in either direction post-announcement
- Wall Street maintains a Moderate Buy rating with a consensus price target of $30.65, suggesting ~3% downside from present levels
Hims & Hers Health unveils its second-quarter 2026 financial performance after today’s trading session, with investors focused intently on whether the company’s strategic shift from compounded to branded GLP-1 medications is delivering results.
Hims & Hers Health, Inc., HIMS
Shares are currently changing hands near $31.59, valuing the telehealth provider at $7.3 billion. The stock has experienced significant turbulence over the past year, oscillating between $13.74 on the downside and $65.30 at its peak.
Street estimates call for a loss of $0.05 per share alongside revenue of approximately $698.9 million. This projection represents a 28% year-over-year increase and marks notable improvement from the first quarter, when HIMS reported a $0.40 per share deficit on $608 million in revenue while falling short of analyst expectations.
The Q1 shortfall was primarily attributed to expenses related to the company’s March transition away from lower-cost compounded GLP-1 treatments. Since then, earnings per share forecasts have climbed 44% during the last two months, while revenue projections have remained unchanged.
Truist analyst Jailendra Singh maintained a Hold rating alongside a $27 price objective before today’s announcement. Singh indicated that Truist’s July credit card transaction data suggests HIMS is “well-positioned to exceed the high end of its Q2 revenue guidance,” with GLP-1 products serving as the primary catalyst.
Singh also highlighted a sequential deceleration in GLP-1 expansion entering July. Daily GLP-1 billings declined 1% month-over-month in July following a 32% surge in June. Meanwhile, the non-GLP-1 segment demonstrated positive trends.
This July deceleration might prompt management to exercise restraint when providing forward guidance, Singh observed. Nevertheless, he anticipates the company will elevate its full-year 2026 forecast to incorporate revenue from the Eucalyptus acquisition, expected to contribute $450 to $500 million in annual recurring revenue.
Customer Retention and Profitability Under Scrutiny
Subscriber retention rates for branded oral Wegovy represent a critical metric under investor examination. BofA Securities cautioned that retention “could be softer than some expect,” referencing competitor Ro, which introduced oral Wegovy earlier and is currently experiencing declining customer acquisitions alongside a stagnating subscriber count.
BofA additionally warned that customer attrition might accelerate as monthly subscription costs escalate from $39 during the initial month to $149 in following months.
Truist’s proprietary data paints a more optimistic picture. Their analysis reveals HIMS continues acquiring branded GLP-1 subscribers at a faster pace than attrition, with renewal subscribers constituting an expanding portion of the branded customer base. Singh indicated this composition shift is likely fueling the EBITDA margin expansion the company anticipates during 2026’s second half.
Peptide Portfolio Introduces Additional Variable
During July, the FDA’s Pharmacy Compounding Advisory Committee voted 8-6 in favor of recommending BPC-157 for inclusion on the compounding list, with KPV achieving a comparable outcome. Canaccord characterized the development as “unambiguously positive,” though analysts emphasized meaningful revenue from peptides is improbable before 2028.
Options pricing indicates market expectations of a 14.5% movement in either direction following the earnings release. Current Wall Street consensus stands at Moderate Buy, comprising four Buy recommendations and eight Hold ratings, with a mean price target of $30.65.
HIMS shares have declined 3% year-to-date.
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