Which Dates Could Move Hims & Hers Stock Most?
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Hims & Hers Health (HIMS) stock lost 30.0% in the month to November 11, 2026, against a 2.3% loss for the S&P 500. On November 9, management cut its 2026 adjusted EBITDA guide to $267 million at the midpoint, from $300 million. It cited sharper pricing and marketing in the U.K. and Germany, plus weight loss membership revenue pushed into January. Anyone owning the stock now is betting that the U.K. and Germany spending wins new subscribers, as management expects. Hims & Hers also faces a securities class action, which a notice from Hagens Berman says stems from a federal complaint the FTC brought against the company. Below are the events most likely to move Hims & Hers stock over the next six months.
| What to watch | When | Which way it cuts |
|---|---|---|
| Hims & Hers holds back U.S. weight loss marketing, which management says may mean another quarter of weak subscriber numbers | fiscal Q4 2026 | Against the stock |
| Lilly’s Zepbound and Foundayo join the Hims & Hers weight loss offering | fiscal Q4 2026 | In its favor |
| Sharper weight loss pricing and heavy marketing in the U.K. and Germany, which management cites for its lower 2026 adjusted EBITDA guide | before fiscal Q1 2027 | Against the stock |
| Flexible multi-month subscriptions launch across the Hims & Hers assortment | before January 2027 | In its favor |
| Hims & Hers is expected to report fiscal Q4 2026 results | February 2027 | Either way |
Slower U.S. Weight Loss Marketing
Management is holding back marketing for its U.S. weight loss business through fiscal Q4 2026 and says this may mean another quarter of weak subscriber numbers. So far, subscribers have not come back. Hims & Hers ended fiscal Q3 2026 with 2.8 million subscribers, dropping 100,000 from three months earlier. Management put the decline down to slower U.S. marketing and to brand changes abroad.
The business at stake is large: U.S. revenue was $657 million in fiscal Q3 2026, up 21% from a year earlier. Management said it slowed U.S. weight loss marketing on purpose, knowing a broader weight loss range was coming to its platform, including Lilly’s Zepbound and Foundayo. The subscriber count in the fiscal Q4 2026 report is the figure to watch.
A Heavier Push Into The U.K. And Germany
Before the busy sign-up months of fiscal Q1 2027, Hims & Hers plans sharper weight loss pricing and heavy marketing in the U.K. and Germany. International sales are growing, but they carry a lower margin so far. Management now expects at least $650 million of international revenue in 2026, up from its earlier $600 million.
Gross margin, though, fell to 57.2% in fiscal Q3 2026 from 63.8% in fiscal Q2 2026. Management said the main reason was lower-margin branded weight loss drugs sold abroad. Gross margin in the fiscal Q4 2026 report is the measure to follow here.
The Fiscal Q4 2026 Report In February 2027
Hims & Hers is expected to report its fiscal Q4 2026 results in February 2027. At that time, management will show the slower U.S. marketing and the European push in one set of figures. Management guides fourth-quarter revenue to $875 million to $895 million, up about 42% to 45% from a year earlier.
Revenue rose in fiscal Q3 2026 while subscribers fell, meaning the revenue line alone will not say whether subscribers came back. The cost of the U.K. and Germany spending will show up in adjusted EBITDA, which management guides to $70 million to $90 million for the quarter.
Can You Hold Hims & Hers Through These Dates?
Holding this stock has meant sitting through deep falls. In the year to November 11, 2026, its largest fall was 63.7%. That decline came in less than three months, between December 2025 and February 2026.
Subscribers fell in fiscal Q3 2026 while international sales grew at a lower margin, and the subscriber count next appears in the fiscal Q4 2026 report. If you own the shares, ask whether you could sit through another fall as deep as the year’s largest without being forced to sell before the February 2027 report.
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