Hims & Hers raises 2026 revenue forecast on strong personalized care demand

Hims & Hers Health raised its 2026 revenue forecast and said demand for its personalized care offerings remained strong enough to support another year of rapid expansion, even as the telehealth company pivots toward a more regulated model. The company now expects 2026 sales of $2.8 billion to $3 billion, up from a prior forecast of $2.7 billion to $2.9 billion, and said second-quarter revenue should reach $680 million to $700 million, above Wall Street’s average estimate of $642.95 million.

The update came with first-quarter results that showed both momentum and strain in the business. Revenue rose to about $608 million, up 4% from a year earlier, while subscribers climbed 9% to nearly 2.6 million. Hims also lifted its 2026 adjusted EBITDA outlook to $275 million to $350 million. Even so, the quarter fell short of analyst expectations and the company posted a surprise loss, a reminder that the transition away from compounded weight-loss drugs is still costly. Shares fell more than 12% in extended trading after the report.

At the center of that transition is Hims’ new approach to weight loss. The company said it would give GLP-1 customers access to a broad assortment of FDA-approved medications while offering compounded semaglutide only on a limited scale. That shift follows a March agreement with Novo Nordisk to sell Wegovy and Ozempic through the Hims platform, ending a legal dispute over lower-cost compounded alternatives. The move may improve credibility with regulators and drugmakers, but it also raises the bar for execution in a category that has been one of Hims’ biggest growth engines.

The regulatory backdrop has sharpened the stakes. The U.S. Food and Drug Administration said on February 21, 2025 that semaglutide injection products were no longer in shortage, and in February 2026 it said it intended to take action against non-FDA-approved GLP-1 drugs that were mass-marketed by companies including Hims. That pressure helps explain why the company is leaning harder into customized, subscription-style care rather than one-size-fits-all wellness sales.

Hims said its second-quarter and full-year outlook excludes any contribution from its proposed acquisition of Australia-based Eucalyptus, which it expects to close in mid-2026, subject to regulatory approvals. It also plans to move from quarterly shareholder letters to an annual letter while keeping quarterly earnings calls and releases. Longer term, the company said it expects to return to profitability in 2027 and still sees at least $6.5 billion in revenue and $1.3 billion in adjusted EBITDA by 2030, a sign that management believes the business can scale well beyond today’s GLP-1 reset.