# Hims & Hers Health, Inc. (HIMS)

> Source: Nexqual · https://nexqual.com/HIMS · data as of 2026-10-22 20:00 UTC · cite as "Nexqual, Hims & Hers Health, Inc. (HIMS), nexqual.com/HIMS" · informational, not investment advice.

**Price:** USD 29.13 (-0.27% on the day) · last close of Oct 22, 2026; US market pre market, not a live price. Prev close 29.21 · day 27.98–29.26 · 52w 13.74–50.99 · market cap $6.80B · NYQ

## Key facts
- Last four reported quarters (through Jun 30, 2026): revenue $2.58B, net income -$142M (-5.5% margin), free cash flow $61.5M (SEC filings).
- Analysts: Hold (mean 2.67 on a 1–5 scale) (15 analysts), mean target USD 31.15 (range 23–42).
- Total return with dividends: 1Y -39.9% vs S&P 500 +14.9%; 5Y +283.8% vs S&P 500 +80.3%.
- Next earnings: 2026-11-09, EPS estimate USD 0.06, revenue estimate $893M.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $272M | $527M | $872M | $1.48B | $2.35B | $2.58B |
| Gross profit | $204M | $409M | $715M | $1.17B | $1.73B | — |
| Operating income | -$115M | -$68.7M | -$29.5M | $61.9M | $106M | -$155M |
| Net income | -$108M | -$65.7M | -$23.5M | $126M | $128M | -$142M |
| EPS (diluted) | -$0.58 | -$0.32 | -$0.11 | $0.53 | $0.51 | — |
| Free cash flow | — | -$33.7M | $47.0M | $198M | $57.4M | $61.5M |
| Gross margin | 75.2% | 77.6% | 82.0% | 79.5% | 73.8% | — |
| Operating margin | -42.3% | -13.0% | -3.4% | 4.2% | 4.5% | -6.0% |
| Net margin | -39.6% | -12.5% | -2.7% | 8.5% | 5.5% | -5.5% |
| Revenue growth | +82.8% | +93.8% | +65.5% | +69.3% | +59.0% | — |
| Cash + short-term investments | $247M | $180M | $221M | $300M | $577M | — |
| Total debt | — | — | — | $0K | $973M | — |
Fiscal years end Dec. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jun 30, 2026)
P/S 2.6x · EV/Sales 2.8x · P/FCF 110.4x · P/B 21.0x · FCF yield 0.91% · Earnings yield -2.09% · Net debt $524M · EV $7.32B
P/E at fiscal year-ends: Dec 2025 65.3x, Dec 2024 45.4x.

## Analysts
Consensus Hold (mean 2.67 on a 1–5 scale), 15 analysts; mean target USD 31.15 (low 23, high 42).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-08-24 | Truist Securities | Target raised | Hold | $27 → $32 |
| 2026-08-21 | Barclays | Target lowered | Overweight | $39 → $35 |
| 2026-08-11 | Citigroup | Target lowered | Neutral | $35 → $33 |
| 2026-08-11 | Deutsche Bank | Target raised | Hold | $25 → $26 |
| 2026-08-11 | B of A Securities | Target raised | Neutral | $30 → $32 |
| 2026-08-11 | TD Cowen | Target raised | Hold | $25 → $30 |
| 2026-08-11 | Morgan Stanley | Target raised | Equal-Weight | $21 → $28 |
| 2026-08-11 | Needham | Target raised | Buy | $35 → $42 |
| 2026-07-24 | Truist Securities | Target raised | Hold | $23 → $27 |
| 2026-07-23 | Citigroup | Target raised | Neutral | $28 → $35 |
| 2026-07-09 | B of A Securities | Target raised | Neutral | $36 → $37 |
| 2026-07-01 | Canaccord Genuity | Target raised | Buy | $32 → $40 |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-23) | 5Y (from 2021-10-18) |
|---|---|---|
| Total return | -39.9% | +283.8% |
| S&P 500 (SPY) | +14.9% | +80.3% |
| Per year | -40.0% | +30.8% |
| Volatility (annualized) | 86.4% | 81.2% |
| Max drawdown | -70.2% (Oct 2025→Feb 2026) | -77.5% (May 2025→Feb 2026) |

## Peers (Drug Manufacturers - Specialty & Generic)
LNTH (Lantheus Holdings, Inc.) USD 100.1 -0.14% · AMRX (Amneal Pharmaceuticals, Inc.) USD 20.48 +1.39% · KNSA (Kiniksa Pharmaceuticals Interna) USD 80.79 +1.37% · ALKS (Alkermes plc) USD 44.18 +1.61% · RGC (Regencell Bioscience Holdings L) USD 9.81 -9.17% · RDY (Dr. Reddy's Laboratories Ltd) USD 13.23 +0.30%

## More
Full page: https://nexqual.com/HIMS · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Supply chain and relationships (SEC annual reports)

Named in HIMS's own 10-K filed 2026-02-23 (https://www.sec.gov/Archives/edgar/data/1773751/000177375126000022/hims-20251231.htm):

| Relationship | Company | Sentence in the filing |
|---|---|---|
| Supplier | Amazon (AMZN) | "We currently host our platform, serve our customers and support our operations in the United States using Amazon Web Services ("AWS"), a provider of cloud infrastructure services, and through Partner Pharmacies, Manufact…" |
| Competitor | Apple (AAPL) | "•changes in mobile operating systems, such as Apple's iOS and Google's Android, that disproportionately affect us, degrade the functionality of our mobile websites or mobile applications, require that we make costly upgr…" |
| Competitor | Alphabet (Google) (GOOGL) | "•changes in mobile operating systems, such as Apple's iOS and Google's Android, that disproportionately affect us, degrade the functionality of our mobile websites or mobile applications, require that we make costly upgr…" |

## Revenue by region (quarter ended 2026-06-30)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| UNITED STATES | $621.8M | 82.6% | +15.7% |
| Non-US | $131.4M | 17.4% | +1640.9% |
| Total revenue | $753.2M | 100% | — |

## Company outlook (8-K filed 2026-08-10)

- "Hims & Hers is providing the following guidance: For the third quarter 2026, we expect: • Revenue of $880 million to $900 million. • Adjusted EBITDA of $75 million to $95 million, reflecting an Adjusted EBITDA margin of 9% to 11%."
- "For the full year 2026, we expect: • Revenue of $3.1 billion to $3.3 billion. • Adjusted EBITDA of $275 million to $325 million, reflecting an Adjusted EBITDA margin of 9% to 10%."

Analysts expect $892.8M for the current quarter, +0.3% vs the guidance midpoint $890.0M. Source: https://www.sec.gov/Archives/edgar/data/1773751/000177375126000161/hims-20260630x8xkearningsr.htm

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-09-30) | $0.06 | $0.07 | -13.4% | $892.8M | 11 |
| Next quarter (ends 2026-12-31) | $0.11 | $0.17 | -30.5% | $954.6M | 11 |
| Current fiscal year (ends 2026-12-31) | $-0.56 | $-0.13 | +331.0% | $3.21B | 11 |
| Next fiscal year (ends 2027-12-31) | $0.42 | $0.62 | -32.0% | $4.00B | 11 |

## Options: expected move (Cboe, 15-min delayed)

Expected move by 2026-11-13 (includes earnings 2026-11-09): ±19.4%; earnings reaction alone ±12.7%; last 8 reports averaged ±9.4%.

| Expiration | Days | ATM IV | Expected move |
|---|---|---|---|
| 2026-10-30 | 7 | 75.9% | ±9.0% |
| 2026-11-06 | 14 | 76.3% | ±12.4% |
| 2026-11-13 | 21 | 99.1% | ±19.4% |
| 2026-11-20 | 28 | 92.8% | ±20.9% |
| 2026-11-27 | 35 | 85.9% | ±21.4% |
| 2026-12-04 | 42 | 83.6% | ±22.8% |
| 2026-12-18 | 56 | 80.8% | ±25.4% |
| 2027-01-15 | 84 | 77.9% | ±29.7% |