HIMS Retail Traders Flip Bullish After Q2 Print: Hims & Hers Keeps $225M Buyback Ready For Stock ‘Disconnect’

Hims called Wegovy pill demand “staggering” and plans new testosterone and peptide treatments.

• The company ended Q2 with over $840 million in cash and short-term investments.
• Its AI weight-loss service tripled messaging and cut non-clinical tasks by nearly 50%.
• Hims & Hers raised its 2026 revenue outlook above estimates and reaffirmed its 2030 targets.

Retail-trader sentiment around Hims & Hers Health, Inc. (HIMS) flipped bullish after its second-quarter (Q2) results as investors looked beyond weaker profitability to the telehealth firm’s raised guidance and $225 million in unused share-buyback capacity.

HIMS stock rose 1% on Monday to close at $31.77 before reversing course after the results, sliding 6% in extended trading.

Hims & Hers Holds $225M Buyback 

Hims & Hers said the remaining authorization allows it to act when the company believes the share price no longer reflects the underlying business. “We also have $225 million remaining on our share repurchase program, which continues to give us the ability to act when we believe the market value of our stock disconnects from its intrinsic value,” CFO Yemi Okupe said on the earnings call.

The company ended the quarter with more than $840 million in cash and short-term investments after paying about $225 million upfront for Eucalyptus. It also secured a $400 million receivables facility and completed a convertible debt offering exceeding $400 million. CEO Andrew Dudum said: “We’re playing offense, and we have the balance sheet and cost structure to sustain it in a way others cannot.”

Hims & Hers Targets New Treatments

Dudum said Hims & Hers remains “extremely excited” about its relationship with Novo Nordisk, calling the Wegovy pill’s launch “staggering.” He said Hims & Hers is the largest or among the largest platforms helping patients access the drug, which has “opened up the floodgates” for consumers concerned about injections and pricing. 

Hims & Hers plans to build on the momentum with oral and injectable testosterone therapies and permitted peptides, including sermorelin, glutathione and NAD+, by year-end. It is awaiting final Food and Drug Administration (FDA) rules on other peptides, including BPC-157.

Meanwhile, Hims & Hers’ AI-native weight-loss service tripled customer messaging, answered 80% of questions and cut non-clinical tasks by nearly 50%. The company expects its AI investment to pay back within 12 to 18 months and could use the savings to lower prices or add customer tools.

HIMS Q2 Review

Hims’ Q2 revenue rose nearly 40% to $753 million, beating the $730.1 million consensus, as Hims & Hers added about 300,000 subscribers to approach 3 million globally. “We have never been better positioned to move faster or go further than we are today,” Dudum said.

Adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) fell to $60.3 million from $82.2 million but topped the $47.26 million estimate. Gross margin declined to 64%, while the company posted an $86 million net loss, including about $81 million in acquisition, restructuring and legal costs. Free cash flow was negative $68 million, but Hims expects it to turn positive again in the second half.

Hims & Hers raised its 2026 revenue outlook to $3.1 billion to $3.3 billion, above the $3.05 billion consensus, and projected adjusted EBITDA of $275 million to $325 million. Third-quarter revenue guidance of $880 million to $900 million also topped the $862.7 million estimate. The company reaffirmed its 2030 targets of at least $6.5 billion in revenue and $1.3 billion in adjusted EBITDA.

How Do Retail Traders Feel About HIMS?

On Stocktwits, retail sentiment for HIMS flipped to ‘bullish’ from ‘bearish’ levels a day ago amid a 1,193% surge in 24-hour message volumes.

One user said, “$HIMS I can see we close green tomorrow everyone buying the dip !”

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Another user said, “$HIMS This feels like the good ole days when they were serious sandbaggers.  It's getting fun again.  Their guidance implies Q4 revenue of 950 mil, which means it will likely be their first billion $ quarter.  They should achieve the 2030 target at least a year early.”

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HIMS stock has declined 39% over the past year.

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