Can Weight-Loss Momentum Lift Hims & Hers Stock Before Q2 Earnings?

Hims & Hers Health, Inc. HIMS is scheduled to report second-quarter 2026 results on Aug. 10, after the closing bell.

In the last reported quarter, the company’s loss per share of 18 cents lagged the Zacks Consensus Estimate of earnings per share of 4 cents. Over the trailing four quarters, its earnings outperformed the Zacks Consensus Estimate on one occasion and missed thrice, delivering a negative earnings surprise of 84.7%, on average.

Let’s check out the factors that have shaped HIMS’ performance prior to this announcement.

Factors to Note Before Hims & Hers Reports

Hims & Hers’ second-quarter 2026 results are likely to reflect accelerating demand across its U.S. platform, supported by newer specialties such as testosterone, menopause and Labs, alongside the broader range of branded GLP-1 treatments. During the first quarter, management noted that weight-loss adoption was near record levels, with more than 125,000 Wegovy shipments fulfilled within six weeks and the business tracking toward more than 100,000 new weight-loss subscribers per month. This is likely to have supported subscriber growth and revenues during the to-be-reported quarter.

The weight-loss business is likely to have remained a major growth driver following HIMS’ shift toward branded products. Almost all new weight-loss business was coming through branded offerings, while the launch of generic semaglutide in Canada in May may have further supported international weight-loss demand.

International operations may also have benefited from the June 2 completion of the Eucalyptus acquisition, which marked Hims & Hers’ entry into Australia. The company is likely to have recorded a partial-quarter contribution from its existing brands and customer base, thereby driving up the second quarter of 2026 revenues.

HIMS’ marketing efficiency may have provided some support to profitability in the to-be-reported quarter. Management cited stronger retention, organic cross-selling and lower-cost acquisition channels as drivers of improved marketing efficiency. The company expects these efficiency gains to continue, though with some quarter-to-quarter volatility.

However, second-quarter 2026 margins are likely to have faced pressure from the transition toward one-month weight-loss shipping cycles and the increasing mix of weight loss, Labs and international revenues, which carry lower gross-margin profiles. Continued spending on technology, facilities, operational capabilities and international expansion may also have weighed on profitability during the to-be-reported quarter.

HIMS’ Estimate Picture

For second-quarter 2026, the Zacks Consensus Estimate for revenues is pegged at $690.2 million, implying an improvement of 26.7% from the prior-year quarter’s reported figure.

The consensus estimate for loss per share is pegged at 7 cents.

What Our Model Suggests About Hims & Hers

Per our proven model, a stock with a Zacks Rank #1 (Strong Buy), 2 (Buy), or 3 (Hold), along with a positive Earnings ESP, has higher chances of beating estimates. This is not the case here, as you can see below.

Earnings ESP: Hims & Hers has an Earnings ESP of 0.00%. You can uncover the best stocks to buy or sell before they are reported with our Earnings ESP Filter.

Zacks Rank: The company currently carries a Zacks Rank #3.

You can see the complete list of today’s Zacks #1 Rank stocks here.

HIMS’ Share Price Performance

Over the past three months, Hims & Hers’ shares have gained 7.7%, underperforming Medical Info Systems’ 17.7% gain. HIMS’ shares also underperformed the Zacks Medical sector’s gain of 10.3%, but outperformed the S&P 500’s increase of 2.9%.

Three Months Price Comparison

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Hims & Hers’ peers like Hinge Health, Inc. HNGE and Inspire Medical Systems, Inc. INSP have outperformed the company. However, HIMS’ other peer, Tempus AI, Inc. TEM, has underperformed the company. HNGE, INSP and TEM’s shares are up 42.9%, up 33.1% and down 7.5%, respectively, in the same time frame.

Hims & Hers’ Key Valuation Metric

From a valuation standpoint, HIMS’ forward 12-month price-to-sales (P/S) is 2.1X, a discount to the industry's average of 5.1X and its one-year median of 2.5X.

Image Source: Zacks Investment Research

The company is trading at a discount to its peers, Hinge Health and Tempus AI. However, Hims & Hers is trading at a premium to its peer, Inspire Medical. Hinge Health and Tempus AI’s P/S currently stand at 6.6X and 4.5X, respectively, while the ratio for Inspire Medical stands at 1.9X.

This suggests that investors may be paying a lower price relative to the company's expected sales growth.

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This article originally published on Zacks Investment Research (zacks.com).

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