Hims & Hers Health, Inc. (HIMS) Stock Price & How to Invest

Hims & Hers Health operates a direct-to-consumer telehealth platform that connects users with licensed providers and ships personalized prescription and over-the-counter products on a subscription basis. Its categories span sexual health, hair loss and dermatology, mental health, and weight management, and the model is built on recurring monthly revenue: most customers are subscribers who refill automatically, which is why the company reports subscriber counts and revenue per subscriber as core metrics. It earns money primarily through these subscriptions and increasingly through higher-priced specialty offerings, and it has invested in owning more of its supply chain, including affiliated pharmacies and a lab and peptide facility.

The company was founded in 2017 by Andrew Dudum, who remains chief executive, and went public in 2021 through a merger with a special-purpose acquisition company. Hims built early scale through aggressive digital marketing around men's wellness, then expanded into women's health and broader categories. In 2024 and 2025 it rode a surge of demand for compounded GLP-1 weight-loss medication, but a 2026 dispute with Novo Nordisk reshaped that business: after litigation, the two companies reached a partnership in which Hims offers branded semaglutide and steps back from marketing compounded versions except where medically necessary.

The GLP-1 category is the clearest risk: the shift from cheaper compounded semaglutide to branded resale, plus ongoing FDA scrutiny of telehealth compounding and marketing claims, can pressure both growth and gross margins, which compressed sharply to around 65 percent in early 2026. Competition is intense and well funded, including Ro, LifeMD, Teladoc, and numerous smaller GLP-1 telehealth providers, which can raise customer-acquisition costs. Growth decelerated to roughly 4 percent year over year in the first quarter of 2026 even as the valuation stayed rich relative to current profitability, so any further slowdown or margin erosion could weigh on the stock. The company also carries dependence on a few high-demand categories and on continued heavy marketing spend.

A simple financial snapshot. These are approximations and refresh quarterly; for current figures see Hims & Hers Health, Inc.'s investor relations page or your broker.

• Revenue (TTM): ~$2.37 billion
• Q1 2026 revenue growth (YoY): ~4%
• Gross margin: ~65% (compressed ~800 bps YoY)
• Subscribers: ~2.6 million (up ~9% YoY)
• Trailing P/E: Not meaningful (roughly breakeven to slightly negative net income TTM); forward P/E ~70x
• Market cap: ~$7-8 billion

Hims reported first-quarter 2026 revenue near $608 million with positive adjusted EBITDA of about $44 million, down roughly 51 percent year over year as gross margin compressed. Net income on a trailing basis was roughly breakeven to slightly negative, so the trailing P/E is not meaningful and the market values the company largely on growth and future profitability. Full-year 2026 guidance was set around $2.8 billion to $3.0 billion in revenue. All figures are approximate and tied to the asOf date; check a current quote and the latest filing before relying on them.

There are three common ways to get HIMS exposure. Buy shares (or fractional shares) directly at any major broker. Hold an ETF that includes it, which spreads the position across many companies. Or build it into a focused thematic basket, so HIMS sits alongside other stocks that express the same thesis.

Walnut takes the basket route. Describe a thesis where HIMS fits (for example “AI infrastructure” or “dividend-growth large-caps”) and the AI proposes 5 to 6 constituents with target weights. You review the plan and fund it through your own broker when you're ready.

Hims & Hers is a subscription telehealth company that sells personalized prescription and wellness products direct to consumers, with revenue of roughly $608 million in the first quarter of 2026 and a subscriber base near 2.6 million. The story now hinges on how durably it can grow recurring subscriptions across more conditions while absorbing a GLP-1 category that shifted from high-margin compounded drugs to lower-margin branded resale. If you believe a consumer-brand telehealth platform can keep compounding subscribers and broaden beyond weight loss, the question becomes sizing and overlap with the rest of your holdings, not timing; the risk is that slowing growth and compressed gross margins leave the valuation looking expensive.

Whether HIMS is worth buying today depends more on your time horizon and what you already hold than on any single call. We walk through valuation, what would have to go right, and the risks in is HIMS a buy?, and where the stock could go from here in the HIMS stock forecast.

For income investors, whether HIMS pays a dividend and how the payout looks is covered in does HIMS pay a dividend?