Hims & Hers Health, Inc. reported a revenue of $608.1 million for the first quarter of 2026, marking a 4% increase from $586.0 million in the same period of 2025. However, the company experienced a net loss of $92.1 million, a significant decline compared to a net income of $49.5 million in the prior year. The loss was attributed to increased operating expenses, which rose by 27% to $475.1 million, driven by higher costs in operations and support, technology and development, and general and administrative expenses. The gross profit decreased to $396.8 million, resulting in a gross margin of 65%, down from 73% in the previous year.
The company's operational metrics showed a 9% increase in subscribers, reaching approximately 2.6 million by the end of March 2026, compared to 2.4 million a year earlier. However, the Monthly Revenue per Average Subscriber decreased by $5 to $80, primarily due to a shift towards shorter shipping cadences for certain offerings. The Rest of the World Revenue saw a substantial increase of 969%, rising to $78.2 million, largely due to geographic expansion from recent acquisitions.
Strategically, Hims & Hers has made significant moves, including the acquisition of YourBio Health, Inc. for $153 million and a proposed acquisition of Eucalyptus, an Australian digital health company, for up to $1.15 billion. These acquisitions are aimed at expanding the company's presence in international markets and enhancing its technological capabilities. The company also announced a strategic shift in its U.S. weight loss offerings, which has led to non-recurring restructuring charges of $33.5 million.
As of March 31, 2026, Hims & Hers had total assets of $2.27 billion, with cash and cash equivalents amounting to $222.3 million. The company reported a total of $1.82 billion in liabilities, including $974.1 million in convertible senior notes. The outlook remains cautious, with management emphasizing the need for continued investment in growth and operational capabilities while navigating the challenges posed by market conditions and regulatory environments.
About Hims & Hers Health, Inc.
Hims & Hers Health, Inc. operates a digital health platform providing personalized telehealth services, including virtual consultations, prescriptions, and wellness products for conditions like sexual health, dermatology, mental health, and weight management. Serving consumers in the U.S. and UK, it leverages proprietary technology, licensed provider networks, and pharmacy fulfillment to deliver accessible, affordable, and high-quality healthcare and wellness solutions through subscription-based models.
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