Hims & Hers Health delivered fourth-quarter earnings that exceeded Wall Street expectations, but investors punished the stock as full-year 2026 revenue guidance came in largely in line with forecasts. The telehealth company reported Q4 earnings per share of $0.08, beating analyst estimates of $0.05, while revenue reached $617.8 million, slightly below consensus expectations of $618.7 million.

For 2026, Hims & Hers projected revenue between $2.7 billion and $2.9 billion, compared with Wall Street estimates of $2.75 billion, and adjusted EBITDA of $300 million to $375 million. The company's first-quarter outlook proved particularly disappointing, with revenue guidance of $600 million to $625 million falling short of analyst expectations of $653.9 million. The company also forecast first-quarter adjusted EBITDA of $35 million to $55 million.

The results come amid ongoing challenges in Hims & Hers' weight-loss medication segment, following a government ban on bulk sales of copycat drugs and subsequent FDA scrutiny. The company faces lawsuits from Novo Nordisk after withdrawing its obesity pill earlier this month. With shares down more than 53% in 2026 and over 69% in the past year, the stock's decline reflects investor concerns about regulatory pressures and competitive dynamics in the telehealth market.