Hims & Hers Q1 2026 Results Expectations: Revenue Growth Deceleration and Weight Loss Expansion

Introduction

Hims & Hers Health, Inc. (NYSE: HIMS) heads into its first-quarter 2026 earnings report at a pivotal moment. The telehealth company is scheduled to release results on Monday, May 11, 2026, after the market closes, and investors are bracing for a very different growth profile than the one they saw a year ago. Wall Street expects revenue of about $616.85 million, implying year-over-year growth of roughly 5.2% to 5.3%—a sharp slowdown from the triple-digit pace Hims & Hers posted in the same quarter last year. Earnings per share are projected at $0.13.

That deceleration is landing just as the company pushes deeper into one of healthcare’s hottest markets: weight loss, particularly GLP-1 treatments. The key question for investors is straightforward: can Hims & Hers turn that expansion into sustainable growth without sacrificing profitability?

Mixed Q4 2025 Results Set the Stage

The setup for this quarter was shaped by Hims & Hers’ fourth-quarter 2025 report, released on February 23, 2026. Revenue rose 28.4% year over year to $617.8 million but came in slightly below analyst expectations of $619.48 million. Earnings told a better story, with EPS of $0.07 beating the Zacks consensus estimate of $0.05.

Still, the market focused elsewhere. Shares fell about 6% in after-hours trading, largely because management’s near-term outlook disappointed. The company guided for Q1 2026 revenue of $600 million to $625 million, below the roughly $653 million consensus estimate at the time. That softer forecast overshadowed a more encouraging full-year 2026 revenue outlook of $2.7 billion to $2.9 billion, modestly ahead of the $2.71 billion consensus.

Under the surface, the business continued to show strength. U.S. revenue increased 16.8% to $554.1 million, while gross profit rose 20.3% to $444.4 million. But for a company long valued on momentum, even a slight slowdown can quickly reshape sentiment.

Weight Loss Expansion and Growth Strategy

Hims & Hers is betting that weight loss can become its next major growth engine. The company has aggressively promoted its GLP-1 offerings, including injectable and oral options, as it expands beyond its core categories such as hair loss, erectile dysfunction, and women’s health.

The opportunity is sizeable. Estimates cited for the digital health obesity market point to rapid growth through the end of the decade and beyond, with forecasts calling for annual expansion in the mid-20% range. Hims & Hers is trying to carve out a meaningful position by using its telehealth platform to connect consumers with licensed healthcare providers for consultations, prescriptions, and ongoing medication management.

That strategy makes sense on paper. The challenge is execution. Weight loss is one of the most competitive corners of digital health, with pressure coming from established pharmaceutical players and a growing field of telehealth rivals.

Key Metrics and Market Expectations

Beyond revenue and EPS, investors will be looking closely at a handful of indicators. Gross margin trends matter, especially after signs of pressure in the prior quarter. Subscription performance and customer acquisition costs should offer a clearer read on whether demand remains durable as growth slows. Investors will also want updates on international expansion, with the company now operating across the U.S., U.K., Canada, Germany, Ireland, France, and Spain.

The stock has been volatile since the Q4 report, reflecting uncertainty around both valuation and near-term growth. TipRanks data shows analysts still hold a Moderate Buy rating, but expectations have clearly reset.

Forward-Looking Implications

This earnings report could help determine whether Hims & Hers is simply entering a more measured phase of growth or facing a deeper shift in its trajectory. Management’s commentary on adoption of weight loss services, competitive positioning, and profitability will likely matter as much as the headline numbers.

The broader telehealth market is evolving quickly, shaped by regulation, reimbursement changes, and intensifying competition. Hims & Hers still has a strong consumer-facing brand and a platform built for accessibility. But with revenue growth cooling, the company now has less room for missteps.

For investors, May 11 is more than just another quarterly report. It is a test of whether Hims & Hers can prove that its next chapter—centered on weight loss and broader healthcare expansion—is compelling enough to reignite confidence.