Hims & Hers Health: GLP-1 Drama Ending Signals Return To Growth

Hims & Hers Health has returned to growth mode after volatility from the GLP-1 transition, yet trades near multi-year lows. The online health platform guided up 2026 revenues to $3B, exceeding consensus, and does not yet reflect the Eucalyptus acquisition. The company faces short-term margin pressure from branded GLP-1 drugs and international scaling, but the long-term target remains at least 20% EBITDA margins in 2030.