**Not a good quarter for HIMS.**
**Q1’26 EARNINGS HIGHLIGHTS**
Revenue: $608.1M (Est. $616.9M) ; +4% YoY
Net Loss: $92.1M
Subscribers: Nearly 2.6M; +9% YoY
Monthly Revenue Per Avg. Subscriber: $80; -6% YoY
**FY Guide:**
Adj. EBITDA: $275M-$350M (Est. $322.8M)
Revenue: $2.8B-$3.0B (Est. $2.72B)
Adj. EBITDA Margin: 10%-12%
**Q2 Guide:**
Revenue: $680M-$700M
Adj. EBITDA: $35M-$55M (Est. $70.1M)
Adj. EBITDA Margin: 5%-8%
**Segment Performance:**
United States Revenue: $529.9M; -8% YoY
Rest of World Revenue: $78.2M; +969% YoY
**Other Metrics:**
Adj. EBITDA: $44.3M
FY 2026 Outlook Excludes Potential Contributions From Proposed Eucalyptus Acquisition
**Financials:**
Gross Margin: 65% vs. 73% YoY
Net Loss: $92.1M vs. Net Income of $49.5M YoY
Adj. EBITDA: $44.3M vs. $91.1M YoY
Operating Cash Flow: $89.4M vs. $109.1M YoY
FCF: $53.0M vs. $50.1M YoY
**Commentary:**
“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.”
“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.”
“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.”