HIMS
Not bad for a telehealth side quest
Hims & Hers just gave investors a pretty classic mixed bag: revenue and adjusted EBITDA both beat expectations, the stock wobbled anyway, and then Needham stepped in waving a fresh Buy rating and a higher $42 price target.
The big takeaway? This is still a growth story, not a sleepy healthcare utility. Revenue rose 38.2% year over year to $753.2 million, while adjusted EBITDA hit $60.3 million, both topping consensus. That’s the kind of print that tells you the business isn’t running out of steam just because the market got picky.
The GLP-1 plot twist
A big chunk of the excitement is still coming from weight-loss demand and Hims’ renewed partnership with Novo Nordisk. That helped domestic revenue re-accelerate 16% year over year, while the recently acquired Eucalyptus added $40 million and sent international revenue into superhero-movie sequel territory — up 1,641%.
Management also raised full-year revenue guidance to $3.1 billion-$3.3 billion from $2.8 billion-$3 billion. Sure, the company narrowed adjusted EBITDA guidance too, which can make the margin crowd twitch. But Needham’s take is basically: “yes, they’re spending more now, but they’re doing it to build a much bigger business later.”
Big picture
If you own HIMS, this is the kind of update that keeps the bull case alive: faster growth, stronger demand, and more room to invest in international expansion and AI features. If you don’t, well, the market is still clearly debating whether this is a durable platform or just a very expensive glow-up. Big picture: the story is getting bigger, but so is the bill.