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Hims & Hers Q3 revenue rises 49% to $890M but gross margin drops and subscribers fall by 100K.

Company Fundamentals
10 Nov 2026, 16:30 WIB
Seeking Alpha
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Bearish
Hims & Hers Q3 revenue rises 49% to $890M but gross margin drops and subscribers fall by 100K.

Hims & Hers reported a 49% increase in Q3 revenue to $890.4 million, driven by a 321% surge in international sales, partly due to the acquisition of Eucalyptus. However, gross margins fell sharply from 73.8% to 57.2%, and the company lost 100,000 subscribers sequentially despite higher revenue per subscriber. Adjusted EBITDA rose modestly by $4 million to $82.4 million, while free cash flow declined significantly to $26 million from $79.4 million. The company faces ongoing regulatory risks and acquisition-related obligations, leading to a downward revision of its full-year outlook and a cautious market valuation.

Following the recent cautious outlook and operational challenges at Hims & Hers, the stock price has dropped notably. On Pluang, HIMS trades at USD 20.56, down 10.37% as of Nov 10, 2026, 21:42 WIB. Despite this decline, the platform shows a strong buy interest with 100% of orders as buys and a typical hold time of 24 days.

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