Key Takeaways
- HIMS delivers Q1 2026 financial results after market close Monday, May 11
- Analyst estimates call for $616M–$619M in revenue, marking just 5.2% annual growth versus 111% expansion in the prior-year quarter
- A March partnership with Novo Nordisk allows HIMS to distribute branded Wegovy and Ozempic, but sales launched March 26 — leaving limited Q1 contribution
- Earnings per share forecast ranges from 3 to 4 cents, representing approximately a 90% decline compared to last year
- Shares have climbed nearly 50% in the last 30 days, yet short interest exceeds 35% of float and analyst consensus remains at Hold across 17 firms
Hims & Hers Health (HIMS) enters Monday’s quarterly report trading at $28.46, reflecting a roughly 32% gain over the past month and approximately 77% above its February 27 low point. Year-to-date performance remains negative, however, with the stock down more than 23%.
Hims & Hers Health, Inc., HIMS
Analysts are positioning this quarter as a transitional period. Revenue projections cluster between $616M and $619M, translating to modest 5.2% year-over-year expansion. This marks a dramatic deceleration from the triple-digit 111% surge HIMS achieved in the first quarter of 2025.
The dominant narrative surrounding this earnings call centers on the company’s strategic shift from compounded GLP-1 medications to branded Novo Nordisk alternatives. Following Novo Nordisk’s March 9 withdrawal of patent litigation, both parties established an agreement enabling HIMS to offer Wegovy and Ozempic directly to consumers.
Timing presents a complication. The branded products became available on the platform March 26, leaving just five days before quarter-end on March 31. Meaningful revenue contributions from this partnership will likely appear in Q2 results rather than the current report.
Customer Base Growth Under Scrutiny
Investors will pay close attention to subscription metrics. HIMS reached 2.5 million subscribers by late 2025 — representing 16% growth from 2.2 million at 2024’s conclusion and substantially higher than the 1.5 million recorded at the end of 2023.
Customer loyalty remains a critical factor. Roughly 82% of users continue beyond the three-month mark, while approximately 90% of recurring revenue originates from the established customer base. Demonstrating stable or expanding subscriber counts would reinforce confidence in full-year projections.
Profitability expectations sit at minimal levels — Wall Street forecasts just 3 to 4 cents per share, representing roughly a 90% year-over-year contraction. While this decline may already be reflected in share prices, any shortfall could trigger additional selling pressure in a stock already facing substantial short positioning.
Wall Street Maintains Reserved Outlook
Among the 17 analysts tracking HIMS, four maintain Buy recommendations, 12 assign Hold ratings, and one suggests Sell. The consensus 12-month price target stands at $31.86 — approximately 12% above Friday’s closing price of $28.46.
Short positioning remains substantial at over 35% of available shares, representing nearly 70 million shares borrowed. With a beta coefficient of 2.43, the stock exhibits heightened volatility in both upward and downward movements.
Institutional activity shifted favorably in Q1, with buying activity outpacing selling by 88% — a notable reversal from the significant net outflows observed in Q4 2025.
Regulatory developments also favor the company’s strategic pivot. The FDA has proposed eliminating semaglutide, tirzepatide, and liraglutide from its 503B bulks list, which would retroactively validate HIMS’s decision to abandon the compounded GLP-1 market.
HIMS has fallen short of Wall Street’s revenue projections on several occasions throughout the previous two years. The company releases quarterly results after Monday’s closing bell on May 11.
Get 3 Free Stock Ebooks
Discover top-performing stocks in AI, Crypto, and Technology with expert analysis.
- Top 10 AI Stocks - Leading AI companies
- Top 10 Crypto Stocks - Blockchain leaders
- Top 10 Tech Stocks - Tech giants
