Hims & Hers Health Q2 Earnings Call Highlights

Hims & Hers Health Q2 Earnings Call Highlights

Hims & Hers Health Q2 Earnings Call Highlights Written by MarketBeat August 10, 2026

Key Points Strong growth led by weight loss and international expansion: Q2 revenue rose nearly 40% year over year to more than $753 million, supported by 300,000 new subscribers and the Eucalyptus acquisition. Hims & Hers raised its 2026 revenue outlook to $3.1 billion–$3.3 billion. AI investment is improving engagement and efficiency: The company’s AI-enabled care experience tripled customer messaging, answered 80% of questions and reduced non-clinical support work by nearly 50%. Management expects these investments to generate returns within 12–18 months. Profitability faces near-term pressure: Adjusted EBITDA was $60 million, while adjusted gross margin fell to 64% and free cash flow was negative $68 million due to branded weight-loss expansion and working-capital needs. Management expects free cash flow to turn positive in the second half and projects Q3 revenue of $880 million–$900 million.

Hims & Hers Health NYSE: HIMS reported second-quarter 2026 revenue of more than $753 million, up nearly 40% from a year earlier, as the telehealth company added 300,000 net new subscribers and ended the period with nearly 3 million subscribers globally. Chief Financial Officer Yemi Okupe said domestic revenue rose 16% year over year to $622 million, while international revenue increased more than 17-fold to $131 million. The company’s June acquisition of Eucalyptus contributed about $40 million of second-quarter revenue, according to Okupe.

The results reflected stronger demand for expanded branded weight-loss offerings, as well as growth across newer categories and overseas markets. Hims & Hers raised its full-year revenue outlook to a range of $3.1 billion to $3.3 billion, representing projected growth of 32% to 41%.

Weight Loss, Subscriber Growth Drive Results Okupe said the company’s decision in March to broaden its branded weight-loss assortment helped reaccelerate growth in the second quarter. While a shift to monthly billing for branded weight-loss products created revenue-recognition headwinds, increased subscriber additions more than offset that effect, he said.

Chief Executive Officer Andrew Dudum said Hims & Hers’ relationship with Novo Nordisk has helped expand access to weight-loss treatments. He described the launch of the Wegovy pill as “staggering” and said the company is among the largest providers helping patients access the product. Dudum also said the company has partnered with Novo Nordisk in international markets, including Germany and the U.K. Hims & Hers said it is seeing retention in branded weight-loss cohorts align with its expectations. Okupe added that early data from a more immersive app experience, AI tools and physical tools such as scales indicate lower cancellation rates among participating subscribers.

The company expects gross-margin pressure to continue in the second half as branded weight-loss products and international revenue account for a larger share of sales. Adjusted gross margin was 64% in the second quarter, down about six percentage points sequentially. Okupe said the company views the margin tradeoff as a deliberate investment to expand its subscriber base and long-term platform scale.

AI Rollout Aims to Improve Engagement and Efficiency Chief Technology Officer Mo Elshenawy said Hims & Hers began a phased rollout of an AI-enabled care experience for Hers weight-loss customers in early July. Customers using the new experience have sent three times as many messages on the platform, with AI ...