Hims & Hers Reports Quarterly and Annual Results Amid Market Pressure

Hims & Hers reports Q4 2025 earnings after a 50% stock drop. Focus is on $1.15B Eucalyptus deal and weight-loss segment challenges from Novo Nordisk lawsuit.

The telehealth company Hims & Hers Health is scheduled to release its fourth-quarter and full-year 2025 financial results after the market closes today, Monday. A conference call for investors will follow at 11:00 PM Central European Time. The timing of this earnings report is particularly critical, as the company's shares have shed nearly half their value over the past 30 days. This steep decline has been driven by regulatory scrutiny and a patent infringement lawsuit filed by Novo Nordisk.

Strategic Acquisition and Regulatory Headwinds

In a significant strategic move aimed at diversifying its geographic reliance, Hims & Hers recently announced an agreement to acquire the Australian digital health provider Eucalyptus for up to $1.15 billion. The transaction structure includes an initial cash payment of $240 million upon closing, which is anticipated in mid-2026. This will be followed by additional guaranteed payments over 18 months and performance-based components extending into early 2029.

Eucalyptus operates several consumer brands, including Juniper, Pilot, and Compound, serving more than 775,000 customers. The platform generates an annualized revenue exceeding $450 million. Following the acquisition's completion, Tim Doyle, the current CEO of Eucalyptus, is set to join Hims & Hers as a Senior Vice President, leading international operations across Australia, the UK, Germany, Japan, and Canada.

The stock's current price of approximately €13.40 places it near a 52-week low, a situation largely attributed to challenges in its weight-loss segment. These challenges involve compounded GLP-1 medications. In early February, the company withdrew a $49 semaglutid-based pill from the market following a regulatory review. Shortly thereafter, the Danish pharmaceutical giant Novo Nordisk initiated legal proceedings alleging patent violations.

Earnings Expectations and Investor Scrutiny

Tonight’s conference call will be closely monitored for management commentary on two key fronts: the integration roadmap for Eucalyptus and the strategic path forward for the domestic weight-management business after recent setbacks. The board has demonstrated confidence by authorizing a new $250 million share repurchase program. Furthermore, institutional investor Vanguard Group increased its stake by 4.5% in the third quarter, holding nearly 19.52 million shares.

Analysts are projecting year-over-year revenue growth of 28.4% for the fourth quarter. This represents a notable deceleration from the robust 49.2% sales increase reported for Q3, which saw revenue reach $599 million. The company's active subscriber base also expanded by 32,000 users during that period, ending at 2.47 million. The upcoming results will reveal whether the company's operational performance can justify the renewed confidence from its board and major investors.