Company research
HIMS
Hims & Hers Health, Inc.
Target quarter: Q3 2026 · Earnings date TBD
At a glance · QW setup
Confidence: Low
The QW Revenue Estimate ($894.5M) is usable, but the evidence is not broad enough for a directional call.
QW Revenue Estimate
$894.5M
Named provider observation · Zacks Consensus Estimate · checked 2026-08-24 · +49.3% YoY
Revision: Unknown
No named-provider KPI estimate for this quarter
Operating requirement
Latest ending subscribers (2026Q2): ~2,891
Evidence
- CaveatMonthly online revenue per avg subscriber accel -25.41 pp vs Street required 11.09 pp
Coverage
- Eligible operating evidence vs Street's requirement
- Direct Street segment KPI consensus
QW Revenue Estimate
Revenue expectation
$894.5M
QW Revenue Estimate · 2026Q3 · +49.3% YoY
A named-provider quarterly revenue observation — not a claim that every vendor publishes one identical “Wall Street consensus.”
- Source
- Zacks Consensus Estimate
- Period
- 2026Q3 / ending 2026-09
- Contributing estimates
- 3
- Observed
- 2026-08-24
- Last verified
- 2026-08-24
- Revision
- Unknown
Operating identity
How this company's revenue is modeled
Hims & Hers online revenue is modeled as average subscribers across the quarter times monthly revenue per average subscriber, times three months. The company defines subscribers as an ending stock; the identity uses the average of sequential period-end counts — not ending subscribers alone.
online_revenue_m ≈ avg(prior_end, end)_subscribers_thousands × monthly_online_rev_per_avg_sub × 3 / 1000
- Street net sales and online revenue are related but not identical.
- Ending-subscriber counts alone do not satisfy the issuer’s average-subscriber definition.
- Must NOT use ending×3 alone — company definition is average subscribers
- Street net_sales used as online-revenue proxy only when validated close
Required operating performance
What that estimate requires
A verified revenue estimate is an outcome. Below is what the underlying business would have to deliver for that estimate to be consistent with the registered operating model.
Street ~894.5 implies required average subscribers under ARPU scenarios using avg(begin,end)×ARPU×3/1000 (identity n=12, median |error| 0.5%).
Model confidence: High · historical n=12
- Latest ending subscribers (2026Q2): ~2,891
- Latest monthly online rev / avg sub (2025Q4): ~$82
Scenario breakdown
- required avg subs at latest arpu → Required average subscribers (thousands): 3,636.2
- required avg subs at trailing median arpu → Required average subscribers (thousands): 3,681.1
- required arpu if avg equals latest ending → Required monthly online rev / avg sub: $103.1
Management guidance
What management says
Direct guidance
Explicit quarterly revenue guidance midpoint
Target period: 2026Q3
- Range
- $880M – $900M
- Mid / point
- $890M
- Vs QW Revenue Estimate
- -0.5%
- As of
- 2026-08-10
Quarter Winner reading
How to read this setup
Supports
No material supporting evidence listed.
Against / uncertainty
- Monthly online revenue per avg subscriber accel -25.41 pp vs Street required 11.09 pp
- Some dispersion, revision, or sensitivity evidence elevates fragility
- 3 analysts on consensus
Still missing
- Eligible operating evidence vs Street's requirement
Since last earnings
Current Evidence
Evidence awaiting review
Candidates were found but are not yet verified as product truth.
Model confidence
How reliable the operating model is
High — The operating relationship is highly stable historically.
Historical check: n=12 · median residual 0.5%
Latest reported
What the business last delivered
- Monthly online revenue per avg subscriber
$82
2025Q4 · YoY +12.3%
- Monthly revenue per average subscriber
$92
2026Q2
- Online revenue
$609.1M
2025Q4 · YoY +29.4%
- Subscribers (thousands)
2,891
2026Q2 · YoY +18.5%
Sources & methodology
Detailed provenance for Street, guidance, operating history, and Current Evidence. Setup classification is not a buy or sell call.
- Revenue estimate (2026Q3): Zacks Consensus Estimate · source · observed 2026-08-24 · verified 2026-08-24
- Management guidance: 2026-08-10
- Operating model: kpi:subscribers_thousands
- Operating model: kpi:monthly_online_rev_per_avg_sub
- Operating model: street_consensus · link
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