Hims & Hers revenue rises 38% to $753 million as gross margin falls and net loss reaches $86 million

Hims & Hers Health reported second-quarter 2026 revenue of about $753 million, up 38% from the same quarter a year earlier, but swung to a net loss of $86.3 million as its gross margin fell to 64% from 76% ^[1]. The results were released on August 10, 2026 ^[1].

Subscribers reached 2.891 million at the end of the quarter, up 19% from 2.439 million a year earlier, and monthly revenue per average subscriber rose 21%, to $92 from $76 ^[1]. United States revenue was $621.8 million, up 16%, while revenue outside the United States rose to $131.4 million from $7.5 million, an increase of 1,641% that the company linked in part to its acquisition of Eucalyptus, which closed in June 2026 ^[1].

"Domestic revenue growth accelerated to 16% year-over-year, and our international business grew more than 17-fold," Chief Financial Officer Yemi Okupe said in the release ^[1].

The loss compares with net income of $42.5 million in the second quarter of 2025 ^[1]. Adjusted EBITDA, a non-GAAP measure, was $60.3 million, down from $82.2 million ^[1]. Free cash flow was negative $68.2 million, compared with negative $69.4 million a year earlier, and net cash used in operating activities was $35.9 million, compared with $19.1 million ^[1].

The release does not report revenue from GLP-1 medications, does not say how much of the business comes from compounded versus brand-name products, and does not explain the drop in gross margin. Those figures have not been disclosed.

Hims & Hers raised its full-year 2026 revenue guidance to a range of $3.1 billion to $3.3 billion and said it now expects adjusted EBITDA of $275 million to $325 million, a margin of 9% to 10% ^[1]. For the third quarter of 2026, the company guided to revenue of $880 million to $900 million and adjusted EBITDA of $75 million to $95 million ^[1]. It restated longer-term targets of at least $6.5 billion in revenue and $1.3 billion in adjusted EBITDA by 2030 ^[1].

In the same release, the company said it is rebuilding its consumer health experience around a "doctor-led AI clinical engine" ^[1].

Why it matters for patients

Hims & Hers is one of the largest direct-to-consumer telehealth platforms, and many of its customers come to it for weight-loss treatment. A gross margin falling from 76% to 64% means the company keeps less from each dollar of revenue than it did a year ago ^[1]. Whether that changes prices, product choices or subscription terms for patients has not been announced.

Because the release does not break out GLP-1 revenue, readers cannot tell from these numbers how much of the quarter's 38% growth came from weight-loss medications, or whether customers are choosing brand-name products over compounded ones. The company has not disclosed that split.

It is also not known from the release how many subscribers use the company for weight-loss treatment specifically, or what share of the 2.891 million total that represents ^[1]. The company reports subscriber counts and average monthly revenue per subscriber across all of its product lines, not by category ^[1].

Adjusted EBITDA remains positive at $60.3 million even as the company reported a net loss under standard accounting rules ^[1]. The two figures differ because adjusted EBITDA excludes certain costs; the release includes a reconciliation of the non-GAAP measure to net loss ^[1].

What happens next

Hims & Hers guided to third-quarter 2026 revenue of $880 million to $900 million and adjusted EBITDA of $75 million to $95 million ^[1]. The company said it expects its domestic business to keep accelerating through the second half of the year ^[1]. It held a conference call on August 10, 2026, at 5 p.m. ET to discuss the results ^[1]. No date for third-quarter results has been reported.