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Hims & Hers reported third-quarter 2026 revenue of $890.4 million, up 49% from a year earlier, while its net result shifted to a $33 million loss. The company narrowed its full-year revenue outlook to $3.13 billion-$3.15 billion and lowered its Adjusted EBITDA guidance to $257 million-$277 million.
Hims & Hers Health reported $890.4 million in third-quarter 2026 revenue, up 49% from a year earlier, and a $33 million net loss. The company also reported lower gross margin and cash flow than a year earlier and forecast full-year Adjusted EBITDA of $257 million to $277 million. Subscribers reached nearly 2.8 million.
Revenue for the quarter ended September 30, 2026, was $890.373 million, compared with $598.976 million in the same quarter of 2025. The company reported 2.788 million subscribers at quarter-end, 13% more than a year earlier. Monthly revenue per average subscriber was $105, up from $81, according to the company’s results.
Growth differed by geography. U.S. revenue rose 21% to $657.1 million, while revenue from the rest of the world increased 321% to $233.3 million. Chief Financial Officer Yemi Okupe said international revenue grew by more than 300% year over year. The company did not provide a breakdown in the supplied results of which markets or services accounted for the international increase.
Profitability measures were mixed. Gross margin fell to 57% from 74% a year earlier. Hims & Hers reported a $33.0 million net loss, versus $15.8 million of net income in the third quarter of 2025. Adjusted EBITDA, a non-GAAP measure, was $82.4 million, compared with $78.4 million. Net cash from operating activities fell to $65.4 million from $148.7 million, and free cash flow was $26.0 million versus $79.4 million. The company provided reconciliations for its non-GAAP measures in its release.
Growth Meets Margin Pressure
The results show higher sales and a larger subscriber base alongside lower gross margin and reduced cash generation compared with a year ago. The release reports these figures but does not specify how investors are weighing them or detail the cost of delivering the growth.
The company forecast full-year revenue of $3.13 billion to $3.15 billion and Adjusted EBITDA of $257 million-$277 million. It said it intentionally paced marketing spending ahead of planned fourth-quarter platform expansions. That is management’s explanation; the release does not quantify how much the spending decision affected quarterly results or forecast profitability.
Revenue outside the United States was $233.3 million of the quarter’s $890.4 million total, and the company reported that international revenue increased 321% year over year. The release provides these geographic figures but does not connect them to the company’s growth outlook.
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Company’s 2026 Outlook
The third-quarter results cover the three months ending September 30, 2026. For the first nine months of the year, Hims & Hers reported revenue of $2.252 billion, up 30% from $1.730 billion in the comparable period of 2025. Its nine-month subscriber count at period-end was also 2.788 million, 13% above the prior-year figure.
The company’s new full-year forecast calls for $3.13 billion-$3.15 billion in revenue and $257 million-$277 million in Adjusted EBITDA, corresponding to an 8%-9% Adjusted EBITDA margin. For the fourth quarter, it forecast revenue of $875 million-$895 million and Adjusted EBITDA of $70 million-$90 million, or an 8%-10% margin. The release describes these projections as forward-looking statements and cautions that actual results may differ materially.
CEO Andrew Dudum said the company is expanding available treatments and specialties and rolling out an AI-supported customer experience. Those are management’s descriptions of its plans, not reported outcomes in the quarterly financial figures. The company said it would discuss its results on a conference call scheduled for November 9 at 5 p.m. Eastern Time.
“Today, customers want real choice, real value, and a care team that knows them.”
— Andrew Dudum, Hims & Hers co-founder and chief executive
Costs Behind Growth Remain Unclear
The release reports the decline in gross margin and cash flow but does not, in the supplied material, explain the specific drivers behind those changes. It also does not provide a detailed account of how revenue growth, marketing costs, or geographic expansion contributed to the quarter’s net loss.
Management’s guidance is forward-looking, and the company warned that actual results could differ materially. Hims & Hers did not reconcile its projected Adjusted EBITDA to projected net income or loss, saying it could not predict certain reconciliation components with reasonable certainty without unreasonable effort. The release describes planned platform expansions but does not provide a quantified financial contribution for them.
Fourth-Quarter Results Will Test Outlook
Hims & Hers scheduled a conference call to review the results for November 9, 2026, at 5 p.m. ET, with access information and a live webcast listed in its investor release. The company’s next reported quarter will show whether it reaches its fourth-quarter forecast of $875 million-$895 million in revenue and $70 million-$90 million in Adjusted EBITDA.
The company has said it plans fourth-quarter platform expansions but has not supplied a more detailed timetable or quantified financial contribution for them in the provided release. Its next results will report the company’s financial and subscriber figures for the period.
Key Questions
How much revenue did Hims & Hers report for Q3 2026?
The company reported $890.373 million in revenue for the quarter ended September 30, 2026, up 49% from $598.976 million in the third quarter of 2025.
Did Hims & Hers make a profit in the quarter?
No. Hims & Hers reported a $33.0 million net loss, compared with net income of $15.8 million in the same quarter a year earlier. Adjusted EBITDA was $82.4 million; it is a non-GAAP measure.
How many subscribers did the company have?
Hims & Hers reported 2.788 million subscribers at the end of September 2026, up 13% year over year.
What is the company’s 2026 financial outlook?
Hims & Hers forecast full-year revenue of $3.13 billion to $3.15 billion and Adjusted EBITDA of $257 million to $277 million. It cautioned that actual results may differ materially from its forward-looking guidance.
Why did the company say it paced marketing spending?
CFO Yemi Okupe said marketing spending was paced ahead of several planned fourth-quarter platform expansions. The release does not state how much that decision changed third-quarter expenses or results.
Source: investors.hims.com
