Hims & Hers heads into Q1 earnings after 50 per cent monthly surge

Hims & Hers Health (NYSE:HIMS) will report first-quarter results Monday after the closing bell, the latest test for a telehealth stock that has surged 49.6 per cent over the past month even as analyst price targets sit well below the current share price.

The company is expected to post revenue growth of 5.2 per cent from a year earlier, according to StockStory, a sharp deceleration from the 111 per cent year-on-year growth recorded in the first quarter of 2025. The earlier period captured the rapid scaling of the company’s direct-to-consumer health and wellness offerings, including its weight-loss category, the largest source of new subscribers. Most analysts covering the stock left their estimates unchanged over the past 30 days, which suggests expectations are stable heading into the print.

The company enters Monday’s release on a mixed recent record. In its fourth quarter, reported in February, Hims posted revenue of $617.8 million, up 28.4 per cent year on year, and added 40,000 net new subscribers to reach a total of 2.51 million. Full-year revenue guidance exceeded analyst forecasts, but the company’s first-quarter outlook fell short of expectations at the time. Hims has missed Wall Street revenue estimates multiple times over the past two years, making the Monday print a test of whether the company can reverse that pattern against a slowing growth backdrop.

Results from peers in the healthcare technology segment have pointed in different directions this quarter. GoodRx reported a 4.4 per cent revenue decline that still beat expectations by 4.9 per cent; its stock gained 9.9 per cent after the release. Tandem Diabetes grew revenue 5.5 per cent and exceeded estimates by 3.2 per cent, yet its shares fell 16.3 per cent. The mixed reactions underline the market’s current focus on forward guidance over backward-looking beats. The broader sector is up 6.1 per cent on average over the past month, part of a wider rally that has pushed the S&P 500 and Nasdaq to record highs on earnings optimism.

Hims closed Friday at $29.07, running well ahead of the average analyst price target of $26.04. The gap means the stock is already pricing in an upbeat set of numbers. The rally has been powered by investor optimism that the company’s subscription model, which bundles telehealth consultations with recurring pharmacy fulfilment, can sustain growth as it expands beyond its original sexual health and hair-loss categories into weight loss, dermatology, and mental health treatment.

When the company reports after Monday’s close, attention will centre on subscriber growth trends, the contribution from newer treatment categories, and whether the deceleration from triple-digit to single-digit revenue growth is a one-quarter normalisation or the start of a longer settling pattern. The earnings call should also indicate how Hims plans to navigate growing competition from both established pharmacy chains and well-funded startups. Investors will also watch whether marketing spending, a large expense in recent quarters, begins to moderate as a share of revenue, a metric that would signal improving unit economics even as top-line growth slows.