Federal Policy

Hims & Hers Cuts Full-Year EBITDA Forecast, Shares Decline

The revision narrows the telehealth company's projected profitability window at a moment when federal regulators are actively reshaping the compounded drug market that drove much of its recent...

The Congressional Times · August 10, 2026

Hims & Hers Health reduced the upper end of its adjusted EBITDA forecast for full-year 2026, the company disclosed in statements reported by Bloomberg on August 10, 2026. The company did not specify a revised figure in the Bloomberg summary, and the precise numerical range of the updated guidance would be found in the company's 8-K filing with the Securities and Exchange Commission or its most recent earnings release on SEC EDGAR. Shares fell following the announcement, according to Bloomberg reporting.

The forecast reduction carries federal policy relevance because Hims & Hers derived a substantial portion of its recent revenue from compounded semaglutide and tirzepatide products — GLP-1 receptor agonists that the FDA had permitted compounding pharmacies to produce during declared shortage periods for Ozempic and Wegovy. The FDA officially removed semaglutide from its drug shortage list in February 2025, according to FDA shortage database records, triggering enforcement actions against compounders. Hims & Hers disclosed its exposure to that regulatory transition in its 2024 annual report filed with the SEC.

Congress has taken notice of the compounded drug market broadly. The Senate HELP Committee held hearings in 2025 examining FDA oversight of 503B outsourcing facilities, and multiple members introduced legislation — including S. 2347, the Pharmacy Compounding Clarity Act — seeking to codify stricter limits on compounded versions of commercially available branded drugs. Whether any such legislation advances in the current session remains unresolved, and no final floor vote has been scheduled as of the date of this report per the Congressional Record.

From a federal contracting and coverage standpoint, CMS reimbursement policy for GLP-1 drugs under Medicare Part D, as revised by the Inflation Reduction Act drug negotiation provisions, could further affect demand dynamics for telehealth platforms offering weight-loss prescriptions. CMS published its Medicare Drug Price Negotiation Program selected drug list in 2024, though GLP-1 drugs were not in the first negotiation cycle. The agency's future selections would be disclosed through the Federal Register.

What remains unknown is the specific revised EBITDA guidance range Hims & Hers communicated and the company's internal forecast for compounding-related revenue as a percentage of total sales going forward. Those figures would be disclosed in the company's 8-K filed with the SEC following the earnings call, and in any forward guidance materials published on the investor relations section of the company's website. The Congressional Times will update this report upon review of those filings.

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