$HIMS · Hims & Hers Health, Inc.
Hims & Hers reported Q3 2026 results: revenue of $890.4M, up 49% year-over-year, with gross margin falling to 57% from 74%. The company swung to a $33.0M net loss from $15.8M net income a year earlier. It tightened full-year 2026 revenue guidance to $3.13B-$3.15B but reduced Adjusted EBITDA guidance to $257M-$277M.
- Revenue rose 49% YoY to $890.4M, with international revenue up 321% to $233.3M.
- Gross margin fell to 57% from 74% a year earlier.
- Net loss was $33.0M versus $15.8M net income in Q3 2025.
- Adjusted EBITDA was $82.4M, up from $78.4M a year ago.
- Full-year Adjusted EBITDA guidance cut to $257M-$277M; revenue tightened to $3.13B-$3.15B.
Shares fell 11.77% in regular trading to $22.94, and extended-hours trading shows a further decline to $22.40 (-2.35% vs close), signaling investors are focused on the margin compression and guidance cut despite strong revenue growth.
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The margin compression and guidance cut contrast with the company's rapid international expansion, highlighting the cost of scaling a telehealth platform aggressively.
Gross margin deterioration (57% vs 74%) and rising operating expenses drove the swing to a net loss; the company is intentionally pacing marketing spend ahead of Q4 platform expansions, which pressures near-term profitability.