Is HIMS stock worth buying?

Hims & Hers is sitting at an interesting crossroads: strong revenue growth on one side, and regulatory uncertainty around its weight-loss business on the other.

The growth story is still impressive.

In Q2 2026, HIMS generated about $753 million in revenue, up 38% year over year, while subscribers reached nearly 2.9 million.

The company also raised its full-year 2026 revenue guidance to $3.1–$3.3 billion.

But there’s a catch.

HIMS reported an $86.3 million net loss in Q2, while gross margin fell to 64% as the company shifted toward branded GLP-1 medications and invested heavily in growth.

That creates the first big question:

Can HIMS maintain rapid revenue growth while rebuilding margins?

Then there’s the regulatory storm.

The company’s compounded GLP-1 strategy has faced significant scrutiny, pushing HIMS to shift toward FDA-approved weight-loss treatments and its collaboration with Novo Nordisk.

For investors, this creates two very different narratives.

Bull case:

Strong subscriber growth + expanding healthcare categories + international expansion + a growing branded GLP-1 business.

Bear case:

Higher costs + lower margins + regulatory uncertainty + potential pressure on the economics of weight-loss treatments.

So, is HIMS a buy?

I’d call it a high-growth, high-risk story rather than an obvious bargain.

The numbers show that demand is real.

Now investors need to see whether HIMS can convert that demand into sustainable profits.

Would you buy HIMS at current levels, or wait for more clarity on margins and regulation?

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