On the eve of Q1 results

Analyst views

StockStory: HIMS is listed as a potential Russell 2000 outperformer, compared with Herbalife (weak organic growth) and Jackson Financial (shrinking margins), and is seen as having the most breakout potential of the three.

Price action

On 5 May the S&P 500 and Nasdaq both hit record highs, while HIMS fell 3.79% the same day to close at $26.37. Selling pressure ahead of the results is clear, and shorts are reluctant to close out early.

Q1 earnings preview

Date

11 May 2026

EPS consensus

$0.03-0.04 (2 weeks ago $0.05-0.06; down 80% to 83% year on year)

GLP-1 gap

A gap of about $65 million still to be filled

Revenue threshold

$620 million

Subscriber threshold

2.5 million subscribers (the floor for holding the narrative together)

Watch items

• Subscription growth (whether it can rebound quarter on quarter)
• Progress in the shift to branded drugs
• Whether peptide revenue appears for the first time
• Labs user data

Short interest

About 34% of the float (2-3 days to cover). If the Q1 numbers hit the mark, short covering could be sharply volatile.

Valuation snapshot

2026 EV/revenue

2.3x

Forward P/E

53x