Telehealth company Hims & Hers’ stock dropped sharply in early Tuesday trading after reporting a first-quarter loss and providing weak earnings guidance for the upcoming year.
The digital health company reported a net loss of $92 million in its first quarter, compared to about $50 million in the same period last year. Its adjusted EBITDA decreased to $44 million from $91 million the previous year.
Revenue increased by 4% to $608 million, while the average monthly revenue per subscriber declined to $80 from $85 last year.
Hims & Hers expects revenue between $680 million and $700 million for the second quarter and forecasts up to $3 billion in revenue for the entire year.
Andrew Dudum, co-founder and CEO, told investors, “2026 is a defining year for Hims & Hers. We’re not just growing, we’re pulling away from the field on our path to becoming the world’s largest consumer health platform. As we exit the first quarter, our domestic business is accelerating, we’re expanding into new categories and countries, and more people than ever are relying on us for access to personal, data-driven care. We’re investing with conviction in comprehensive diagnostics and a technology infrastructure built to make every interaction smarter than the last. The demand for a simpler, more personal path to feeling great has never been stronger, and Hims & Hers is increasingly the answer.”
Yemi Okupe, CFO, said, “In the first quarter, we made a strategic pivot that expanded our assortment of branded GLP-1 products, and early demand signals show our consumer reach broadening meaningfully. With nearly 2.6 million subscribers across a diverse breadth of specialties, we have the scale to invest in technology and operations to leverage our closed-loop ecosystem. This will allow us to elevate the subscriber experience and positions us to achieve an industry-leading cost structure. We expect growth to accelerate from here, and have high conviction in our 2030 targets of at least $6.5 billion in revenue and $1.3 billion in Adjusted EBITDA.”
Hims & Hers’ stock fell 15.5% in premarket trading, following the announcement.
By CEO NA Editorial Staff
