Shares of telehealth provider Hims & Hers Health (NYSE:HIMS) dropped more than 6% in U.S. premarket trading on Tuesday, pressured partly by weaker-than-anticipated guidance for the current quarter.
The company expects first-quarter 2026 revenue to come in between $600 million and $625 million, below analyst consensus forecasts of $653.9 million. Adjusted EBITDA for the period is projected in a range of $35 million to $55 million.
For the full year 2026, Hims & Hers guided revenue of $2.7 billion to $2.9 billion, broadly in line with consensus expectations of $2.75 billion. Adjusted EBITDA is anticipated to reach between $300 million and $375 million.
“1Q26 guidance implies a meaningful sequential ramp over the course of 2026. Notably, management expects [year-on-year] growth in both Weight Loss and non-Weight Loss businesses in 2026. The after-market trading […] likely reflects limited visibility beyond 1Q,” analysts at Truist Securities said in a note.
Fourth-quarter earnings per share totaled $0.08, exceeding analyst estimates of $0.05. Revenue reached $617.8 million, slightly below consensus expectations of $618.7 million, while subscriber numbers increased 13% year-on-year to 2.5 million.
The results arrive as the stock continues to face pressure linked to regulatory scrutiny and intensifying competition within the weight-loss treatment market.
After a government ban on bulk sales of copycat drugs, Hims & Hers shifted toward offering more personalised formulations based on the active ingredient used in Novo Nordisk’s Wegovy. However, the company’s attempt to introduce lower-cost compounded versions of Wegovy at an introductory price of $49 per month was halted earlier this month after the U.S. Food and Drug Administration warned it could pursue legal action against the company and similar providers. Hims & Hers is also dealing with lawsuits filed by Novo.
According to a Reuters report, short interest in Hims & Hers reached its highest level in at least a year in January. The company’s shares have declined more than 53% so far in 2026 and are down over 69% over the past 12 months.