Tearsheet

Hims & Hers Health (HIMS)


Market Price (6/20/2026): $35.23 | Market Cap: $8.0 BilSector: Health Care | Industry: Health Care Services

Hims & Hers Health (HIMS)


Market Price (6/20/2026): $35.23
Market Cap: $8.0 Bil
Sector: Health Care
Industry: Health Care Services

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

0

Strong revenue growth
Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is 33%

Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 12%

Megatrend and thematic drivers
Megatrends include Digital Health & Telemedicine, E-commerce & Digital Retail, and Precision Medicine. Themes include Telehealth Platforms, Show more.

Not profitable at operating income level
Op Inc LTMOperating Income, Last Twelve Months is -31 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -1.3%

Expensive valuation multiples
P/CFOPrice/(Cash Flow from Operations). CFO is cash before capital expenditures. is 29x

Yield minus risk free rate is negative
ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -4.4%

Significant short interest
Short Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 27%

Key risks
HIMS key risks include [1] significant regulatory scrutiny and legal challenges over its marketing of compounded GLP-1 weight loss drugs and [2] difficulty achieving consistent profitability due to intense marketing spend and margin pressure from its personalized offerings.

0 Strong revenue growth
Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is 33%
1 Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 12%
2 Megatrend and thematic drivers
Megatrends include Digital Health & Telemedicine, E-commerce & Digital Retail, and Precision Medicine. Themes include Telehealth Platforms, Show more.
3 Not profitable at operating income level
Op Inc LTMOperating Income, Last Twelve Months is -31 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -1.3%
4 Expensive valuation multiples
P/CFOPrice/(Cash Flow from Operations). CFO is cash before capital expenditures. is 29x
5 Yield minus risk free rate is negative
ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -4.4%
6 Significant short interest
Short Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 27%
7 Key risks
HIMS key risks include [1] significant regulatory scrutiny and legal challenges over its marketing of compounded GLP-1 weight loss drugs and [2] difficulty achieving consistent profitability due to intense marketing spend and margin pressure from its personalized offerings.

HIMS in ETFs

Weight = HIMS's share of each fund

VTI0.01%
ITOT0.01%
IWM0.19%
IJH0.17%
VB0.07%
IHF0.79%
NUSC0.79%
IJK0.34%
+13 more covered ETFs

Valuation & Metrics

Price Chart

Why The Stock Moved

Qualitative Assessment

AI Analysis | Feedback

Updated on 6/18/2026

Hims & Hers Health (HIMS) stock has gained about 145% since 2/28/2026 because of the following key factors:

1. Strategic pivot to branded GLP-1 medications and partnership with Novo Nordisk.

In March 2026, Hims & Hers settled a patent lawsuit with Novo Nordisk, subsequently transitioning its weight management strategy from compounded GLP-1s to offering branded, FDA-approved Ozempic and Wegovy through its telehealth platform. This agreement eliminated prior litigation risks and was viewed by analysts as transforming Hims & Hers into an "official healthcare ecosystem participant". Following the announcement, HIMS shares surged over 36%. The company also reported that this strategic shift was generating "encouraging early demand signals".

2. Upward revision of fiscal year 2026 revenue guidance and optimistic growth outlook.

Despite reporting a wider-than-expected loss of $0.19 EPS for fiscal Q1 2026 (ended March 31, 2026), Hims & Hers significantly raised its full-year fiscal 2026 revenue guidance to a range of $2.8 billion to $3.0 billion, up from a previous range of $2.7 billion to $2.9 billion. This revised outlook, largely attributed to the acceleration of the weight loss business, signaled strong management confidence and led analysts like Barclays to raise price targets to $39.00, maintaining an "Overweight" rating. The company also projects at least $6.5 billion in revenue and $1.3 billion in adjusted EBITDA by 2030.

Show more
Updated on 6/18/2026

Hims & Hers Health (HIMS) stock has gained about 145% since 2/28/2026 because of the following key factors:

1. Strategic pivot to branded GLP-1 medications and partnership with Novo Nordisk.

In March 2026, Hims & Hers settled a patent lawsuit with Novo Nordisk, subsequently transitioning its weight management strategy from compounded GLP-1s to offering branded, FDA-approved Ozempic and Wegovy through its telehealth platform. This agreement eliminated prior litigation risks and was viewed by analysts as transforming Hims & Hers into an "official healthcare ecosystem participant". Following the announcement, HIMS shares surged over 36%. The company also reported that this strategic shift was generating "encouraging early demand signals".

2. Upward revision of fiscal year 2026 revenue guidance and optimistic growth outlook.

Despite reporting a wider-than-expected loss of $0.19 EPS for fiscal Q1 2026 (ended March 31, 2026), Hims & Hers significantly raised its full-year fiscal 2026 revenue guidance to a range of $2.8 billion to $3.0 billion, up from a previous range of $2.7 billion to $2.9 billion. This revised outlook, largely attributed to the acceleration of the weight loss business, signaled strong management confidence and led analysts like Barclays to raise price targets to $39.00, maintaining an "Overweight" rating. The company also projects at least $6.5 billion in revenue and $1.3 billion in adjusted EBITDA by 2030.

3. Expansion into new treatment categories and international markets.

Hims & Hers diversified its offerings and expanded its geographic footprint during the period. This included the launch of an exclusive branded oral testosterone treatment, KYZATREX®, in collaboration with Marius Pharmaceuticals, with plans for additional injectable testosterone options in fiscal 2026. Furthermore, the company completed its acquisition of Eucalyptus on June 2, 2026, which is expected to expand its international presence across markets such as Australia, Japan, Canada, Germany, and the UK. The company is also exploring peptides for various wellness applications, with a July 2026 FDA review seen as a potential catalyst.

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Stock Movement Drivers

Fundamental Drivers

The 144.3% change in HIMS stock from 2/28/2026 to 6/19/2026 was primarily driven by a 143.4% change in the company's P/S Multiple.
(LTM values as of)22820266192026Change
Stock Price ($)14.5235.47144.3%
Change Contribution By: 
Total Revenues ($ Mil)2,3482,3700.9%
P/S Multiple1.43.4143.4%
Shares Outstanding (Mil)227228-0.6%
Cumulative Contribution144.3%

LTM = Last Twelve Months as of date shown

Market Drivers

2/28/2026 to 6/19/2026
ReturnCorrelation
HIMS144.3% 
Market (SPY)9.2%41.0%
Sector (XLV)-6.4%9.0%

Fundamental Drivers

The -10.8% change in HIMS stock from 11/30/2025 to 6/19/2026 was primarily driven by a -16.0% change in the company's P/S Multiple.
(LTM values as of)113020256192026Change
Stock Price ($)39.7635.47-10.8%
Change Contribution By: 
Total Revenues ($ Mil)2,2112,3707.2%
P/S Multiple4.13.4-16.0%
Shares Outstanding (Mil)226228-0.9%
Cumulative Contribution-10.8%

LTM = Last Twelve Months as of date shown

Market Drivers

11/30/2025 to 6/19/2026
ReturnCorrelation
HIMS-10.8% 
Market (SPY)9.9%35.3%
Sector (XLV)-4.4%3.1%

Fundamental Drivers

The -37.3% change in HIMS stock from 5/31/2025 to 6/19/2026 was primarily driven by a -51.4% change in the company's P/S Multiple.
(LTM values as of)53120256192026Change
Stock Price ($)56.5635.47-37.3%
Change Contribution By: 
Total Revenues ($ Mil)1,7842,37032.8%
P/S Multiple7.03.4-51.4%
Shares Outstanding (Mil)222228-2.8%
Cumulative Contribution-37.3%

LTM = Last Twelve Months as of date shown

Market Drivers

5/31/2025 to 6/19/2026
ReturnCorrelation
HIMS-37.3% 
Market (SPY)28.1%32.7%
Sector (XLV)14.6%5.5%

Fundamental Drivers

The 296.8% change in HIMS stock from 5/31/2023 to 6/19/2026 was primarily driven by a 284.5% change in the company's Total Revenues ($ Mil).
(LTM values as of)53120236192026Change
Stock Price ($)8.9435.47296.8%
Change Contribution By: 
Total Revenues ($ Mil)6162,370284.5%
P/S Multiple3.03.413.8%
Shares Outstanding (Mil)207228-9.3%
Cumulative Contribution296.8%

LTM = Last Twelve Months as of date shown

Market Drivers

5/31/2023 to 6/19/2026
ReturnCorrelation
HIMS296.8% 
Market (SPY)85.7%36.0%
Sector (XLV)22.9%13.4%

Return vs. Risk

Price Returns Compared

 202120222023202420252026Total [1]
Returns
HIMS Return-55%-2%39%172%34%-2%118%
Peers Return30%3%-8%0%20%8%58%
S&P 500 Return27%-19%24%23%16%8%98%

Monthly Win Rates [3]
HIMS Win Rate25%58%50%67%50%50% 
Peers Win Rate60%52%40%52%62%57% 
S&P 500 Win Rate75%42%67%75%67%50% 

Max Drawdowns [4]
HIMS Max Drawdown-78%-54%-52%-45%-63%-59% 
Peers Max Drawdown-21%-24%-26%-22%-21%-16% 
S&P 500 Max Drawdown-5%-25%-10%-8%-19%-9% 


[1] Cumulative total returns since the beginning of 2021
[2] Peers: ADUS, CVS, CI, DGX, LH.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 6/18/2026 (YTD)

How Low Can It Go

EventHIMSS&P 500
2024 Yen Carry Trade Unwind
  % Loss-23.7%-7.8%
  % Gain to Breakeven31.0%8.5%
  Time to Breakeven61 days18 days
Summer-Fall 2023 Five Percent Yield Shock
  % Loss-30.4%-9.5%
  % Gain to Breakeven43.6%10.5%
  Time to Breakeven32 days24 days
2023 SVB Regional Banking Crisis
  % Loss-14.0%-6.7%
  % Gain to Breakeven16.3%7.1%
  Time to Breakeven190 days31 days
2022 Inflation Shock & Fed Tightening
  % Loss-53.9%-24.5%
  % Gain to Breakeven117.0%32.4%
  Time to Breakeven91 days427 days

Compare to ADUS, CVS, CI, DGX, LH

In The Past

Hims & Hers Health's stock fell -23.7% during the 2024 Yen Carry Trade Unwind. Such a loss loss requires a 31.0% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

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EventHIMSS&P 500
2024 Yen Carry Trade Unwind
  % Loss-23.7%-7.8%
  % Gain to Breakeven31.0%8.5%
  Time to Breakeven61 days18 days
Summer-Fall 2023 Five Percent Yield Shock
  % Loss-30.4%-9.5%
  % Gain to Breakeven43.6%10.5%
  Time to Breakeven32 days24 days
2022 Inflation Shock & Fed Tightening
  % Loss-53.9%-24.5%
  % Gain to Breakeven117.0%32.4%
  Time to Breakeven91 days427 days

Compare to ADUS, CVS, CI, DGX, LH

In The Past

Hims & Hers Health's stock fell -23.7% during the 2024 Yen Carry Trade Unwind. Such a loss loss requires a 31.0% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

About Hims & Hers Health (HIMS)

Hims & Hers Health, Inc. (HIMS) operates as a multi-specialty telehealth platform, connecting consumers directly with licensed healthcare professionals for virtual consultations. Beyond its core telehealth services, the company functions as a direct-to-consumer brand, selling a comprehensive range of health and wellness products and services through its websites and mobile application. Its business model caters primarily to individuals seeking solutions in key areas such as general wellness, sexual health and wellness, skincare, and hair care.

The company's offerings are diverse, including prescription medications provided on a recurring basis, often coupled with ongoing care from healthcare providers. Additionally, Hims & Hers provides a curated selection of non-prescription products such as over-the-counter drugs, cosmetic items, and dietary supplements. Specific examples include vitamin C and collagen for wellness, moisturizers and serums for skincare, condoms and vibrators for sexual health, and shampoos and topical treatments like minoxidil for hair care. Hims & Hers also extends its reach by offering health and wellness products through wholesale partners, serving a broad market of consumers looking for accessible health solutions.

AI Analysis | Feedback

Here are 2 brief analogies for Hims & Hers Health:

  • It's like Teladoc Health combined with a modern online pharmacy and wellness store for personal care needs.
  • It's the Dollar Shave Club for online prescriptions and wellness products related to hair loss, skincare, and sexual health.

AI Analysis | Feedback

  • Telehealth Platform & Medical Consultations: A multi-specialty digital platform connecting consumers with licensed healthcare professionals for virtual consultations and ongoing care.
  • Prescription Medications: Offers various prescription drugs on a recurring basis, often facilitated by provider consultations and ongoing support.
  • Over-the-Counter (OTC) Products: Provides a curated selection of non-prescription drugs, devices, cosmetics, and supplements for wellness, sexual health, skincare, and hair care.

AI Analysis | Feedback

Hims & Hers Health (HIMS) primarily sells its products and services directly to individual consumers.

The company serves the following categories of customers:

  • Wellness and General Health Customers: Individuals seeking general health and wellness products, including supplements like vitamin C, melatonin, biotin, and collagen protein, as well as medical consultation services for various health needs.
  • Sexual Health and Wellness Customers: Individuals looking for products and services related to sexual health, such as condoms, climax delay spray and wipes, vibrators, lubricants, and prescription medication for sexual health concerns.
  • Skincare and Hair Care Customers: Individuals seeking solutions for skincare issues, including moisturizers, serums, and face washes, and those looking for hair care products like shampoos, conditioners, scalp scrubs, and topical treatments such as minoxidil.

AI Analysis | Feedback

  • Truepill (Private Company)

AI Analysis | Feedback

Andrew Dudum

Chief Executive Officer

Andrew Dudum co-founded Hims & Hers in 2016 and has served as its CEO since inception. He is also a co-founder of Atomic Labs, a startup studio and investment fund backed by prominent investors such as Peter Thiel and Marc Andreessen, where he played an integral role in developing over a dozen companies including Bungalow, Homebound, TalkIQ, and Terminal. Dudum is an active angel investor and advisor to various startup companies, including Cherubic Ventures. Prior to Atomic, he co-founded LendforPeace, a nonprofit microlending site. He also worked at TokBox, a video-chat startup that was subsequently acquired. Hims & Hers went public via a SPAC in 2020, debuting on the New York Stock Exchange in January 2021 at a $1.6 billion valuation.

Yemi Okupe

Chief Financial Officer

Yemi Okupe joined Hims & Hers as Chief Financial Officer in January 2022. He brings extensive experience from financial leadership positions at high-growth, B2C companies. From 2019 to 2021, Okupe served as Divisional CFO at Uber, where he was responsible for UberEats and Uber's global mobility unit. His career also includes various financial leadership roles at eBay and PayPal, including Divisional CFO of Braintree, and he was the finance lead for Google Payments and Google Express at Google. Prior to joining Hims & Hers, he served as CFO of Hipcamp.

Mike Chi

Chief Operating Officer

Mike Chi joined Hims & Hers in April 2021 as Chief Operating Officer. He possesses over 20 years of experience in consumer-focused businesses, specializing in brand positioning, growth marketing, product management, and merchandising strategy. Before his role at Hims & Hers, Chi was the Chief Marketing Officer at Zola, an online wedding planning platform. He also held positions as Vice President of Marketing and digital experience at INTERMIX and various senior roles in marketing and general management at Gilt Groupe.

Dr. Patrick Carroll

Chief Medical Officer

Dr. Patrick Carroll re-joined Hims & Hers as Chief Medical Officer in December 2022 and also serves as a board member. He previously held the CMO position at Hims & Hers from June 2019 through January 2022. Between his two tenures with Hims & Hers, Dr. Carroll was the Chief Medical Officer of Vida Health, a virtual care company. Prior to his initial role at Hims & Hers, he served for five years as Group Vice President and Chief Medical Officer of Walgreens, where he oversaw retail clinics, healthcare strategy, and quality programs. His experience also includes CMO roles at Integrated Care Partners (Hartford HealthCare's clinical integration organization) and Granite Medical Group.

Dheerja Kaur

Chief Product Officer

Dheerja Kaur joined Hims & Hers in July 2025 as Chief Product Officer. She brings nearly two decades of experience in building category-defining products and services. Most recently, she served as VP of Product at Robinhood, where she was instrumental in scaling their business and led Robinhood Gold, a premium membership offering that reached over 3 million subscribers. She also previously held the position of Chief Product Officer at The Skimm.

AI Analysis | Feedback

The key risks to Hims & Hers Health (HIMS) include regulatory and legal scrutiny, intense competition, and challenges related to its reliance on compounded medications. *

Regulatory and Legal Scrutiny

Hims & Hers Health faces significant regulatory scrutiny from the U.S. Food and Drug Administration (FDA) and other bodies, particularly concerning its compounded medication offerings and marketing practices. The FDA has issued warning letters to telehealth companies, including Hims & Hers, for promoting compounded versions of GLP-1 weight-loss drugs with misleading claims. This regulatory action forced Hims & Hers to withdraw its discounted version of Novo Nordisk's GLP-1 therapy, Wegovy, in the past. While a recent partnership with Novo Nordisk to offer branded GLP-1 medications has eased some legal and regulatory overhangs, the ongoing FDA scrutiny of compounded weight-loss drugs remains a structural risk to the company's business model. The company has also faced a U.S. Securities and Exchange Commission (SEC) investigation. *

Intense Competition

The telehealth and direct-to-consumer healthcare sectors are highly competitive, with Hims & Hers facing numerous rivals. Direct competitors like Ro (Roman) and Keeps offer similar direct-to-consumer models, competing on factors such as pricing, brand recognition, and the range of health offerings. Broader telehealth platforms such as Teladoc Health also present a significant competitive challenge. This intense market environment necessitates continuous innovation and efficient operations, potentially pressuring pricing and profitability. *

Reliance on Compounded Medications and Market Shifts

Hims & Hers' growth has been significantly accelerated by its expansion into offerings such as GLP-1 weight loss treatments, which historically included compounded versions of these drugs. However, regulatory changes and increased enforcement, particularly regarding compounded GLP-1 medications, have compromised this strategy. The expiration of COVID-19-era telehealth waivers and evolving regulations concerning compounded drugs create a complex compliance landscape. While the company is adapting by partnering with pharmaceutical manufacturers for branded products, the capital and effort invested in compounding infrastructure may generate poor returns as the company navigates this transition. This shift could also impact their growth trajectory and margins if branded GLP-1s consolidate power back to pharmaceutical-controlled channels.

AI Analysis | Feedback

The aggressive expansion of Amazon (through Amazon Clinic and Amazon Pharmacy) into direct-to-consumer telehealth consultations and online prescription medication fulfillment represents a clear emerging threat. Amazon's vast logistics network, established customer base, and ability to offer competitive pricing could significantly disrupt Hims & Hers Health's core business model of connecting consumers to healthcare professionals and delivering prescription and over-the-counter products directly to them.

AI Analysis | Feedback

Addressable Markets for Hims & Hers Health (HIMS)

Hims & Hers Health, Inc. operates in several significant addressable markets related to telehealth, prescription medication, over-the-counter products, and health and wellness supplements. The market sizes for their main products and services are as follows:

  • Telehealth Platform: The U.S. telehealth market size is estimated at approximately USD 52.77 billion in 2025 and is projected to reach around USD 447.69 billion by 2035.
  • Sexual Health and Wellness: The U.S. sexual wellness market is estimated at USD 23.25 billion in 2025 and is projected to reach approximately USD 49.92 billion by 2035.
  • Skincare: The U.S. skincare market is estimated to be around USD 24 billion in annual revenue in 2025 and is expected to grow to USD 30.60 billion by 2030.
  • Hair Care: The U.S. hair care market size is valued at USD 20.12 billion in 2025, estimated at USD 20.98 billion in 2026, and projected to reach USD 25.9 billion by 2031.
  • Wellness Supplements: The North America dietary supplements market, which includes wellness supplements, is estimated at USD 64.06 billion in 2025 and is projected to reach USD 91.30 billion by 2030.
  • Over-the-Counter (OTC) Drugs: The U.S. over-the-counter (OTC) drugs market size is estimated at USD 54.6 billion in 2025 and is expected to grow to USD 86.3 billion by 2034.
  • Direct-to-Consumer (DTC) Weight-Loss Medication: The global direct-to-consumer (DTC) weight-loss medication market size is valued at USD 8.64 billion in 2025 and is estimated to reach USD 35.61 billion by 2034. North America holds the largest share of this market.

AI Analysis | Feedback

Hims & Hers Health (HIMS) is expected to drive future revenue growth over the next 2-3 years through several key strategies: * Expansion into New Therapeutic Categories and Personalized Treatments: The company anticipates significant revenue growth from expanding its offerings into new health specialties. This includes the substantial growth propelled by its weight management category, with projections for it to be a primary driver of revenue. Further expansion into hormonal health, specifically menopause and low testosterone treatments, is also a key focus, targeting large market opportunities in the United States. Additionally, the integration of lab testing is expected to broaden personalized treatment options, and the overall strategy involves evolving personalized solutions to encompass multi-condition treatments and new form factors, aiming for continued market share gains and enhanced patient lifetime value. * International Market Expansion: Hims & Hers is actively pursuing a global expansion strategy to enhance its market position. This involves strategic acquisitions, such as ZAVA in Europe (extending its footprint across the U.K., Germany, France, and Ireland) and Eucalyptus (expanding presence into regions like Australia and Japan). The company also plans entry into new geographies, including Canada in 2026, which is expected to make weight loss treatments more accessible. Management has set an ambitious goal to scale its international business to over $1 billion in annual revenue within three years, with at least $200 million in revenue contributions projected from international markets in 2026. * Subscriber Growth and Enhanced Customer Engagement: A core driver of revenue growth is the continuous expansion of the company's subscriber base and increasing the monthly revenue generated per average subscriber. This is achieved through effective user acquisition strategies, robust retention initiatives, and broadening the array of product and service offerings available on its direct-to-consumer platform. The company's business model is largely subscription-based, indicating a high degree of recurring revenue and customer loyalty. * Strategic Partnerships for Branded Medications: Hims & Hers is strengthening its market position through strategic collaborations with pharmaceutical companies. A notable example is its partnership with Novo Nordisk to distribute branded weight-loss medicines, such as Ozempic and Wegovy. This move signifies a shift from reliance on compounded drugs to officially offering brand-name medications, which is anticipated to bolster credibility, expand treatment options, attract more customers, and drive significant revenue growth by enhancing user trust and platform stickiness.

AI Analysis | Feedback

Share Repurchases

  • Hims & Hers Health authorized a new share repurchase program of up to $250 million of its Class A common stock in November 2025, effective through November 11, 2028.
  • This new program followed the completion of a prior $100 million share repurchase program, which commenced in July 2024.
  • The company repurchased $89.96 million in shares in 2025 and $83.039 million in 2024.

Share Issuance

  • Hims & Hers Health became a public company in January 2021 through a merger with Oaktree Acquisition Corp. II, a Special Purpose Acquisition Company (SPAC), which brought in nearly $280 million for expansion initiatives.
  • In 2025, the company recorded $970 million in proceeds from the issuance of convertible senior notes, net of debt discount.

Inbound Investments

  • In January 2019, Hims raised $100 million in a Series C funding round, which valued the company at $1 billion pre-money.
  • The SPAC merger in January 2021 injected approximately $280 million into the company for growth and expansion efforts.

Outbound Investments

  • In February 2026, Hims & Hers acquired Eucalyptus, an Australian digital health platform operating Juniper, Pilot, and Kin, in a deal valued at $1.6 billion. The acquisition involved an initial cash payment of approximately $240 million, with the remainder paid over 18 months.
  • In June 2025, the company acquired ZAVA, a European digital health platform, which expanded its presence in the U.K., Germany, France, and Ireland through an all-cash transaction.
  • Hims & Hers also acquired London-based Honest Health in 2021.

Capital Expenditures

  • Capital expenditures for Hims & Hers Health peaked at $226 million in fiscal year 2025, increasing significantly from $41.655 million in 2024, $17.22 million in 2023, and $2.714 million in 2022.
  • The company anticipates continued investment in existing and new offerings, AI-driven tools, and international expansion in 2026.
  • Hims & Hers entered a long-term lease for a large facility in New Albany, Ohio, designated for office, research and development, laboratory, manufacturing, and pharmaceutical dispensing activities.

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Peer Comparisons

Peers to compare with:

Financials

HIMSADUSCVSCIDGXLHMedian
NameHims & H.Addus Ho.CVS Heal.Cigna Quest Di.Labcorp  
Mkt Price35.4794.2398.32279.27195.00255.82146.66
Mkt Cap8.11.7125.273.421.421.121.3
Rev LTM2,3701,448407,905277,84011,27814,14412,711
Op Inc LTM-3114211,691-1,6141,5711,571
FCF LTM601377,3947,6601,3261,3841,355
FCF 3Y Avg1161177,1587,9431,1101,0681,089
CFO LTM28014510,3328,8121,8501,8141,832
CFO 3Y Avg2351259,9949,2931,5591,5411,550

Growth & Margins

HIMSADUSCVSCIDGXLHMedian
NameHims & H.Addus Ho.CVS Heal.Cigna Quest Di.Labcorp  
Rev Chg LTM32.8%19.6%7.6%9.3%11.0%7.3%10.2%
Rev Chg 3Y Avg58.1%14.1%7.2%15.2%5.7%6.4%10.7%
Rev Chg Q3.8%7.7%6.2%5.0%9.2%5.8%6.0%
QoQ Delta Rev Chg LTM0.9%1.8%1.5%1.2%2.2%1.4%1.4%
Op Inc Chg LTM-127.9%29.8%8.3%-15.5%37.6%15.5%
Op Inc Chg 3Y Avg461.7%24.6%-9.2%-9.9%5.1%9.9%
Op Mgn LTM-1.3%9.8%2.9%-14.3%11.1%9.8%
Op Mgn 3Y Avg1.3%9.2%3.1%-13.9%9.6%9.2%
QoQ Delta Op Mgn LTM-5.8%0.1%0.3%-0.2%0.2%0.2%
CFO/Rev LTM11.8%10.0%2.5%3.2%16.4%12.8%10.9%
CFO/Rev 3Y Avg13.3%10.0%2.6%3.9%15.2%11.6%10.8%
FCF/Rev LTM2.5%9.5%1.8%2.8%11.8%9.8%6.1%
FCF/Rev 3Y Avg7.1%9.4%1.9%3.4%10.8%8.0%7.5%

Valuation

HIMSADUSCVSCIDGXLHMedian
NameHims & H.Addus Ho.CVS Heal.Cigna Quest Di.Labcorp  
Mkt Cap8.11.7125.273.421.421.121.3
P/S3.41.20.30.31.91.51.3
P/Op Inc-264.612.110.7-13.313.412.1
P/EBIT-264.611.919.17.513.015.312.4
P/E-612.017.242.711.720.922.419.1
P/CFO28.911.812.18.311.611.611.7
Total Yield-0.2%5.8%5.1%10.8%6.4%5.6%5.7%
Dividend Yield0.0%0.0%2.7%2.2%1.7%1.1%1.4%
FCF Yield 3Y Avg2.2%6.8%7.7%9.1%6.1%5.3%6.4%
D/E0.10.10.60.40.30.30.3
Net D/E0.00.00.50.30.30.30.3

Returns

HIMSADUSCVSCIDGXLHMedian
NameHims & H.Addus Ho.CVS Heal.Cigna Quest Di.Labcorp  
1M Rtn53.9%0.5%5.4%-0.8%0.6%-0.3%0.6%
3M Rtn61.1%-5.1%38.8%6.9%0.3%-2.5%3.6%
6M Rtn-0.3%-16.5%28.7%3.9%11.7%2.0%3.0%
12M Rtn-41.9%-18.2%52.5%-9.2%10.4%-1.1%-5.2%
3Y Rtn324.8%4.3%60.9%9.5%50.0%13.4%31.7%
1M Excs Rtn56.1%-0.2%2.4%-5.6%0.4%-0.9%0.1%
3M Excs Rtn33.3%-19.3%24.5%-7.4%-12.7%-16.4%-10.0%
6M Excs Rtn-14.1%-27.3%17.4%-8.0%-0.2%-10.7%-9.3%
12M Excs Rtn-65.5%-42.7%26.5%-34.0%-14.4%-25.7%-29.9%
3Y Excs Rtn220.7%-71.8%-18.8%-63.1%-20.2%-57.0%-38.6%

Comparison Analyses

null

Financials

Segment Financials

Revenue by Segment
$ Mil20252024202320222021
Single Segment2,3481,477872527272
Total2,3481,477872527272


Net Income by Segment
$ Mil202520242023
Single Segment128126-24
Total128126-24


Assets by Segment
$ Mil20202019
Single Segment206205
Total206205


Price Behavior

Price Behavior
Market Price$35.47 
Market Cap ($ Bil)8.1 
First Trading Date09/13/2019 
Distance from 52W High-46.4% 
   50 Days200 Days
DMA Price$26.64$33.36
DMA Trenddownup
Distance from DMA33.1%6.3%
 3M1YR
Volatility91.3%98.1%
Downside Capture309.99366.43
Upside Capture327.30204.83
Correlation (SPY)44.4%31.8%
HIMS Betas & Captures as of 5/31/2026

 1M2M3M6M1Y3Y
Beta1.752.333.232.632.542.16
Up Beta0.280.761.661.661.541.15
Down Beta-7.89-4.722.521.792.632.10
Up Capture251%361%739%311%265%11228%
Bmk +ve Days13283667141432
Stock +ve Days13233550112370
Down Capture735%656%290%274%203%114%
Bmk -ve Days7132757109318
Stock -ve Days7182873136372

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with HIMS
HIMS-41.4%98.1%-0.10-
Sector ETF (XLV)14.0%15.0%0.665.6%
Equity (SPY)26.5%12.4%1.6132.6%
Gold (GLD)24.2%27.5%0.779.0%
Commodities (DBC)19.8%18.8%0.830.4%
Real Estate (VNQ)11.0%13.7%0.527.5%
Bitcoin (BTCUSD)-40.0%42.5%-1.0819.6%

Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with HIMS
HIMS23.3%83.5%0.62-
Sector ETF (XLV)5.4%14.7%0.1919.4%
Equity (SPY)13.5%17.1%0.6238.1%
Gold (GLD)17.1%18.3%0.766.3%
Commodities (DBC)7.5%19.4%0.294.5%
Real Estate (VNQ)1.9%18.9%0.0024.3%
Bitcoin (BTCUSD)11.0%54.2%0.4021.7%

Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with HIMS
HIMS13.5%77.5%0.59-
Sector ETF (XLV)9.4%16.6%0.4615.0%
Equity (SPY)15.3%18.0%0.7328.4%
Gold (GLD)12.3%16.1%0.636.4%
Commodities (DBC)5.9%18.0%0.264.3%
Real Estate (VNQ)5.3%20.7%0.2217.4%
Bitcoin (BTCUSD)60.0%66.8%1.0017.6%

Smart multi-asset allocation framework can stack odds in your favor. Learn How

Short Interest

Short Interest: As Of Date5292026
Short Interest: Shares Quantity62.6 Mil
Short Interest: % Change Since 5152026-1.2%
Average Daily Volume19.9 Mil
Days-to-Cover Short Interest3.1 days
Basic Shares Quantity228.4 Mil
Short % of Basic Shares27.4%

Earnings Returns History

Updated 6/12/2026
Expand for More
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
5/11/2026-14.1%-23.5%-4.7%
2/23/2026-0.3%6.3%37.6%
11/3/2025-3.6%-7.5%-9.8%
8/4/2025-12.4%-21.1%-29.8%
5/5/202518.1%31.8%28.0%
2/24/2025-22.3%-20.7%-27.8%
11/4/2024-0.6%34.3%63.4%
8/5/2024-5.4%-10.5%-18.1%
...
SUMMARY STATS   
# Positive81112
# Negative141110
Median Positive14.9%11.5%32.8%
Median Negative-5.6%-10.5%-20.4%
Max Positive31.0%43.4%86.7%
Max Negative-22.3%-23.5%-30.0%
Collapse to Preview
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
5/11/2026-14.1%-23.5%-4.7%
2/23/2026-0.3%6.3%37.6%
11/3/2025-3.6%-7.5%-9.8%
8/4/2025-12.4%-21.1%-29.8%
5/5/202518.1%31.8%28.0%
2/24/2025-22.3%-20.7%-27.8%
11/4/2024-0.6%34.3%63.4%
8/5/2024-5.4%-10.5%-18.1%
5/6/20246.0%10.6%86.7%
2/26/202431.0%43.4%54.3%
11/6/202311.0%11.5%41.7%
8/7/2023-5.8%-9.9%-12.5%
5/8/2023-10.1%-9.1%-22.7%
2/27/202316.8%4.4%2.7%
11/7/202219.7%30.5%51.5%
8/8/2022-5.1%8.2%-2.4%
5/9/2022-6.5%-6.5%13.2%
2/22/202213.1%20.2%25.7%
11/10/2021-4.0%1.2%-23.9%
8/11/202110.8%-2.6%15.1%
5/4/2021-1.7%-11.4%17.5%
3/18/2021-9.7%-18.6%-30.0%
SUMMARY STATS   
# Positive81112
# Negative141110
Median Positive14.9%11.5%32.8%
Median Negative-5.6%-10.5%-20.4%
Max Positive31.0%43.4%86.7%
Max Negative-22.3%-23.5%-30.0%

SEC Filings

Expand for More
Report DateFiling DateFiling
03/31/202605/11/202610-Q
12/31/202502/23/202610-K
09/30/202511/03/202510-Q
06/30/202508/04/202510-Q
03/31/202505/05/202510-Q
12/31/202402/24/202510-K
09/30/202411/04/202410-Q
06/30/202408/05/202410-Q
03/31/202405/06/202410-Q
12/31/202302/26/202410-K
09/30/202311/06/202310-Q
06/30/202308/07/202310-Q
03/31/202305/08/202310-Q
12/31/202202/27/202310-K
09/30/202211/07/202210-Q
06/30/202208/08/202210-Q
Collapse to Preview
Report DateFiling DateFiling
03/31/202605/11/202610-Q
12/31/202502/23/202610-K
09/30/202511/03/202510-Q
06/30/202508/04/202510-Q
03/31/202505/05/202510-Q
12/31/202402/24/202510-K
09/30/202411/04/202410-Q
06/30/202408/05/202410-Q
03/31/202405/06/202410-Q
12/31/202302/26/202410-K
09/30/202311/06/202310-Q
06/30/202308/07/202310-Q
03/31/202305/08/202310-Q
12/31/202202/27/202310-K
09/30/202211/07/202210-Q
06/30/202208/08/202210-Q
03/31/202205/09/202210-Q
12/31/202102/24/202210-K
09/30/202111/10/202110-Q
06/30/202108/11/202110-Q
03/31/202105/17/202110-Q
09/30/202002/05/2021S-1

Recent Forward Guidance

Updated 6/1/2026

Latest: Q1 2026 Earnings Reported 5/11/2026

Forward GuidanceGuidance Change
MetricLowMidHigh% Chg% DeltaChangePrior
Q2 2026 Revenue680.00 Mil690.00 Mil700.00 Mil   
Q2 2026 Adjusted EBITDA35.00 Mil45.00 Mil55.00 Mil0 Same NewGuidance: 45.00 Mil for Q1 2026
2026 Revenue2.80 Bil2.90 Bil3.00 Bil3.6% RaisedGuidance: 2.80 Bil for 2026
2026 Adjusted EBITDA275.00 Mil312.50 Mil350.00 Mil-7.4% LoweredGuidance: 337.50 Mil for 2026

Prior: Q4 2025 Earnings Reported 2/23/2026

Forward GuidanceGuidance Change
MetricLowMidHigh% Chg% DeltaChangePrior
Q1 2026 Revenue600.00 Mil612.50 Mil625.00 Mil   
Q1 2026 Adjusted EBITDA35.00 Mil45.00 Mil55.00 Mil   
Q1 2026 Adjusted EBITDA Margin6.0%7.5%9.0%   
2026 Revenue2.70 Bil2.80 Bil2.90 Bil19.4% Higher NewActual: 2.35 Bil for 2025
2026 Adjusted EBITDA300.00 Mil337.50 Mil375.00 Mil8.2% Higher NewActual: 312.00 Mil for 2025
2026 Adjusted EBITDA Margin11.0%12.0%13.0%-7.7%-1.0%Lower NewActual: 13.0% for 2025

Insider Activity

Updated 6/17/2026
Expand for More
#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value
Value of
Held Shares
Form
1Chi, MichaelChief Operating OfficerDirectSell617202631.5014,027441,85013,611,906Form
2Becklund, IrenePAODirectSell617202631.504,490141,435213,885Form
3Elshenawy, MohamedCTODirectSell617202631.5030,040946,2603,182,224Form
4Becklund, IrenePAODirectSell617202630.257,573229,083341,220Form
5Wells, David B DirectBuy526202624.2348,4001,172,9745,438,746Form
Collapse to Preview
#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value
Value of
Held Shares
Form
1Chi, MichaelChief Operating OfficerDirectSell617202631.5014,027441,85013,611,906Form
2Becklund, IrenePAODirectSell617202631.504,490141,435213,885Form
3Elshenawy, MohamedCTODirectSell617202631.5030,040946,2603,182,224Form
4Becklund, IrenePAODirectSell617202630.257,573229,083341,220Form
5Wells, David B DirectBuy526202624.2348,4001,172,9745,438,746Form
6Okupe, OluyemiChief Financial OfficerDirectSell519202623.647,950187,9166,215,496Form
7Boughton, SoleilChief Legal OfficerDirectSell422202630.009,463283,8908,981,040Form
8Okupe, OluyemiChief Financial OfficerDirectSell422202629.9619,645588,6157,878,786Form
9Okupe, OluyemiChief Financial OfficerDirectSell420202627.8318,005501,1587,516,568Form
10Okupe, OluyemiChief Financial OfficerDirectSell420202625.9036,922956,1477,299,341Form
11Okupe, OluyemiChief Financial OfficerDirectSell407202619.983,97579,4096,368,448Form
12Okupe, OluyemiChief Financial OfficerDirectSell324202623.779,217219,0677,576,881Form
13Becklund, IrenePAODirectSell318202624.695,529136,511216,087Form
14Boughton, SoleilChief Legal OfficerDirectSell318202624.694,812118,8087,625,037Form
15Chi, MichaelChief Operating OfficerDirectSell318202624.6997,2892,402,06510,055,793Form
16Boughton, SoleilChief Legal OfficerDirectSell302202615.214,65170,7426,707,184Form
17Okupe, OluyemiChief Financial OfficerDirectSell204202626.445,262139,1082,422,014Form
18Okupe, OluyemiChief Financial OfficerDirectSell121202630.349,067275,1142,779,870Form
19Okupe, OluyemiChief Financial OfficerDirectSell1223202535.7223,090824,7103,369,311Form
20Chi, MichaelChief Operating OfficerDirectSell1218202536.7113,750504,76211,202,460Form
21Autor, Deborah MChief Policy OfficerDirectSell1218202536.717,054258,952226,684Form
22Carroll, Patrick HarrisonChief Medical OfficerDirectSell1218202536.7110,021367,8716,238,497Form
23Becklund, IrenePAODirectSell1218202536.718,411308,76878,045Form
24Perez, Garcia Andrea G DirectSell1210202539.172,50097,9253,140,102Form
25Boughton, SoleilChief Legal OfficerDirectSell1125202535.222,63192,6645,396,584Form
26Okupe, OluyemiChief Financial OfficerDirectSell1119202536.8123,187853,4902,585,170Form
27Boughton, SoleilChief Legal OfficerDirectSell1112202542.532,637112,1526,628,556Form
28Boughton, SoleilChief Legal OfficerDirectSell1028202550.102,637132,1147,940,499Form
29Okupe, OluyemiChief Financial OfficerDirectSell1020202557.1311,592662,2224,012,179Form
30Dudum, AndrewChief Executive OfficerDirectSell1020202562.78128,1278,043,2375,808,178Form
31Dudum, AndrewChief Executive OfficerHeld by Trustee of Dudum Family Community Property TrustSell1020202562.8347,5342,986,7612,986,133Form
32Boughton, SoleilChief Legal OfficerDirectSell1014202554.382,637143,4008,762,249Form
33Chi, MichaelChief Commercial OfficerDirectSell1014202558.2590052,42516,976,322Form
34Okupe, OluyemiChief Financial OfficerDirectSell1007202557.7211,595669,2324,053,601Form
35Chi, MichaelChief Commercial OfficerDirectSell1002202556.0025014,00016,320,584Form
36Okupe, OluyemiChief Financial OfficerDirectSell930202560.2085,0005,116,9244,227,903Form
37Boughton, SoleilChief Legal OfficerDirectSell930202558.792,637155,0299,627,862Form
38Chi, MichaelChief Commercial OfficerDirectSell925202556.522,100118,69216,472,132Form
39Okupe, OluyemiChief Financial OfficerDirectSell924202557.7423,5841,361,7666,085,912Form
40Boughton, SoleilChief Legal OfficerDirectSell919202550.502,637133,1688,403,402Form
41Carroll, Patrick HarrisonChief Medical OfficerDirectSell919202550.5010,021506,0608,581,970Form
42Becklund, IrenePAODirectSell919202550.508,410424,70571,609Form
43Chi, MichaelChief Commercial OfficerDirectSell919202550.5013,749694,32415,005,520Form
44Dudum, AndrewChief Executive OfficerDirectSell919202550.5765,1103,292,9064,820,508Form
45Dudum, AndrewChief Executive OfficerDirectSell917202553.48128,1276,852,3008,579,614Form
46Dudum, AndrewChief Executive OfficerHeld by Trustee of Dudum Family Community Property TrustSell917202553.2747,5342,532,3255,064,118Form
47Chi, MichaelChief Commercial OfficerDirectSell917202556.004,150232,40015,604,624Form
48Okupe, OluyemiChief Financial OfficerDirectSell917202555.35145,0008,026,0767,139,554Form
49Okupe, OluyemiChief Financial OfficerDirectSell828202543.6911,581505,9685,103,196Form
50Boughton, SoleilChief Legal OfficerDirectSell826202544.532,571114,4876,699,538Form
51Dudum, AndrewChief Executive OfficerHeld by Trustee of Dudum Family Community Property TrustSell820202545.0547,5342,141,4926,424,026Form
52Dudum, AndrewChief Executive OfficerDirectSell820202545.06128,1275,773,2424,033,704Form
53Okupe, OluyemiChief Financial OfficerDirectSell814202548.0511,581556,4205,612,049Form
54Boughton, SoleilChief Legal OfficerDirectSell812202551.642,572132,8187,902,004Form
55Dudum, AndrewChief Executive OfficerHeld by Trustee of Dudum Family Heritage Trust UAD 8-10-2021Sell811202550.58660,00033,384,120112,027,446Form
56Carroll, Patrick HarrisonChief Medical OfficerDirectSell808202553.5860,0003,214,8789,105,606Form
57Chi, MichaelChief Commercial OfficerDirectSell804202564.4425016,11017,956,464Form
58Chi, MichaelChief Commercial OfficerDirectSell804202567.0026,3501,765,45018,669,818Form
59Boughton, SoleilChief Legal OfficerDirectSell729202558.702,572150,9769,133,309Form
60Chi, MichaelChief Commercial OfficerDirectSell725202557.522,100120,79216,028,178Form
61Chi, MichaelChief Commercial OfficerDirectSell725202556.0013,750770,00015,604,624Form
62Dudum, AndrewChief Executive OfficerDirectSell723202549.54125,3356,208,6374,572,848Form
63Dudum, AndrewChief Executive OfficerDirectSell718202550.582,792141,2174,669,099Form
64Dudum, AndrewChief Executive OfficerHeld by Trustee of Dudum Family Community Property TrustSell718202550.2547,5342,388,8179,554,767Form
65Boughton, SoleilChief Legal OfficerDirectSell715202547.822,572122,9937,563,450Form
66Okupe, OluyemiChief Financial OfficerDirectSell715202547.7011,581552,4182,579,828Form
67Okupe, OluyemiChief Financial OfficerDirectSell708202546.6711,581540,4982,710,564Form
68Boughton, SoleilChief Legal OfficerDirectSell701202550.502,572129,8868,117,218Form
69Okupe, OluyemiChief Financial OfficerDirectSell624202547.2523,1071,091,7662,987,132Form
70Chi, MichaelChief Commercial OfficerDirectSell617202559.7517,1021,021,84416,649,576Form
71Dudum, AndrewChief Executive OfficerDirectSell617202559.2265,1103,855,5425,631,720Form
72Boughton, SoleilChief Legal OfficerDirectSell617202559.752,572153,6779,757,713Form
73Becklund, IrenePAODirectSell617202559.758,485506,97942,542Form
74Dudum, AndrewChief Executive OfficerDirectSell617202556.76128,1277,271,9509,093,131Form
75Dudum, AndrewChief Executive OfficerHeld by Trustee of Dudum Family Community Property TrustSell617202556.5147,5342,686,30013,430,933Form
76Boughton, SoleilChief Legal OfficerDirectSell617202556.805,451309,6179,422,041Form
77Chi, MichaelChief Commercial OfficerDirectSell611202557.005,600319,20014,613,660Form
78Chi, MichaelChief Commercial OfficerDirectSell609202556.005,100285,60014,368,480Form
Core Cache Last Updated: 6/19/2026