Hims & Hers Health, Inc. · NYSE:HIMS
Hims & Hers Health — Q1 2026 Earnings Presentation
39 slides from Hims & Hers Health's earnings presentation, May 11, 2026
Slide 1: Supplemental Presentation: Investor Presentation May 2026
hims hers SUPPLEMENTAL PRESENTATION Investor Presentation May 2026
Slide 2: Safe Harbor Statement
INTRODUCTION Safe Harbor Statement This presentation has been prepared by Hims & Hers Health, Inc. ("we “us “our” *Hims & Hers,’ or the “Company’) This presentation includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the
Slide 3: Feeling good in your body & mind transforms how you show up in life
INTRODUCTION Feeling good in your body & mind transforms how you show up in life hims hers
Slide 4: Our platform democratizes access to high-quality personalized care
INTRODUCTION Our platform democratizes access to high-quality personalized care, by leveraging technology to deliver a frictionless customer experience
Slide 5: Our team is led by a visionary founder and leadership team
INTRODUCTION Our team is led by a visionary founder, with support from a leadership team that has scaled transformative organizations Andrew Dudum Chief Executive Officer & Co-Founder ATOMIC ¢. Dr. Pat Carroll Chief Medical Officer Ww 5 9 Yemi Okupe Chief Financial | Officer Uber Deb Autor Chief Pol
Slide 6: Ability to help over 100 million consumers across specialties and regions
INTRODUCTION We believe we have the abilitytohelp 5 907, spawns, over 100 million consumers across ——————————— Through normalizing and innovating, our platform the specialties and regions we serve can unlock solutions for millions of potential customers a ;- i) : rer Ae. @ Active % f Weight Loss Sex
Slide 7: Our platform has evolved to reach a broader audience
INTRODUCTION Our platform has evolved to reach a broader audience by delivering exceptional service and offering access to data-driven personalized treatment plans eee eee eee eee ee ee EVOLUTION OF PLATFORM eeeeesccceeseseseeesseseeseseeseesesesssee Awareness Exceptional Service Data-informed + On-
Slide 8: We integrate comprehensive data and health insights
INTRODUCTION We integrate and a curation of Comprehensive data gh-to owl and health insights are Mn - B e)ere = Ya ® a Health setpctunya talc — Biological age 48 Ifyou‘d like, leon. ‘= Seta check-in reminder for you + Help you manage side effects hims hers
Slide 9: Our Strategy
Our Strategy :
Slide 10: Our value proposition strengthens with each new subscriber
STRATEGY Our value proposition strengthens with each new subscriber Leading Technology Additional structured data and deeper insights Trusted Brand More subscribers on the platform <4 / Data-driven personalized solutions High quality v and services outcomes Clinical Excellence Innovative Products &
Slide 11: Brand investment positions Hims & Hers as synonymous with access to care
STRATEGY Brand investment positions Hims & Hers to become synonymous with access to high-quality care = Structured Presence in Most Thought Leaders Drive Awareness Distinct Brands Culturally Relevant Across Our for Latest Health with Distinct Moments Specialties Innovations Approaches The'-YeorJoume
Slide 12: Technology platform provides convenient and rapid access to personalized care
STRATEGY 12 Technology platform provides consumers with convenient and rapid access to personalized care euls= Helping people better Providing access to Democratizing access to Reducing the cost and g understand their overall proactive care across a world-class care time required for great | health
Slide 13: U.S. market leadership driven by a growing ability to do more for customers
U.S. market leadership driven by a growing ability to do more for customers, creating underneath More Structured Subscribers hims Hims revenue grew more than 30% year-over-year in 2025 e Hims subscribers addressing multiple conditions have increased by more than 5x in the last two years’ hims hers
Slide 14: Curating innovative solutions leads to deeper customer relationships
STRATEGY . More Structured A consistent focus on curating innovative solutions sation “SE and services is leading to deeper customer a relationships and a more diverse customer base Richard Damian Anna LATE 30s MID-40s EARLY 50s Concerns Concerns Concerns Wants to lose weight sustainably Curious abo
Slide 15: An ecosystem that provides value beyond medication
STRATEGY An ecosystem that provides subscribers valuebeyond ~~ medication is proving to be vital in building long-term = sx, x= customer relationships ) Richard LATE 30s Damian MID-40s ye Anna > an = » EARLY 50s . Hits “ aan Insights Progress Support Weight Tracker Weight Loss Habits | 2DayStreck St
Slide 16: Our multi-year investments in infrastructure drive our capabilities
STRATEGY Our multi-year investments in « this Our facility footprint i US now exceeds 1 million square feet Increasing sterile injectable Capacity to support treatments in emerging categories Peptide facility acquired in 2025 y 5038 outsourcing facility acquired in 2024 503A compounding pharmacy acq
Slide 17: Clinical excellence drives high quality outcomes
STRATEGY 7 More Clinical excellence drives high quality outcomes & os Transparency Clinical standards Manufacturing and supply chain ‘Systematic monitoring Certificates of Analysis for GLP-1s of clinical standards Fast & convenient Provider scale high-quality providers across our on avg. from visit
Slide 18: High-quality service levels drive a leadership position
STRATEGY 18 High-quality service levels and a personalized experience across a range of specialties are driving a leadership position Share of Observed Total Sales Share of Observed Total Customers 27.1% 33.2% 32.7% 2021 2022 2023 2024 2025 2021 2022 2023 2024 2025 @ Hims & Hers Health, Inc. — § Thi
Slide 19: Long-Term Vision
Slide 20: Confidence in achieving our 2030 financial targets
VISION Execution and foundational capabilities that are positioned to scale give us confidence in achieving our 2030 financial targets 2030 Revenue 2030 Adjusted EBITDA’ of at least of at least S6.5B+ S1.3B+
Slide 21: Long-term roadmap driven by five key growth levers
VISION Our long-term roadmap will be driven by an ongoing focus across five key growth levers Expansion into new emotionally resonant specialties Deepening personalization Better understand J} your overall health, Elevate the precision of care from beginning to end Strategic Global expansion relatio
Slide 22: Recent acquisitions strengthen our value proposition and long-term vision
VISION Recent acquisitions strengthen our value proposition in the near term, and provide a foundation for our long-term vision CAPABILITIES ceveceeeesccccoee Outsourcing Facility Acquired sep. 2024 503B compounding facility enables launch into new specialties where sterile facilities are required L
Slide 23: Building the world's largest consumer health platform
VISION Strengthening the network effects of our platform by building the world’s largest consumer health platform Western Europe 200M+ Est. population North America 280M+ Est. population Acquired Zava in July 2025, expanding our Western Europe presence, and strengthening it further with Launched H&H
Slide 24: AI support across the entire health journey
VISION 24 Al support across the entire health journey powered by a closed loop network handling tens of millions of customer touchpoints Smarter intake Chatbot powered dynamic intake seamlessly identifies customer's symptoms, goals, and history Labs, biomarkers, and customer-reported data create a r
Slide 25: Financials
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Slide 26: Subscriber count and engagement drive revenue growth
FINANCIALS 26 Our subscriber'count and customer engagement drive revenue growth ay NUMBER OF SUBSCRIBERS' ceseseceseesecesccsesese eeeee REVENUE PER SUBSCRIBER’ eeeee Acquisition Retention Engagement Multi-channel > Multi-condition > Proactive brand development care care companions New specialties a
Slide 27: Historical growth driven by subscribers, new geographies and revenue per subscriber
FINANCIALS Historical growth driven by expanding subscribers, entry into new geographies, and increasing revenue per subscriber u 1 Subscribers’ @ Non-Personal lized (millions) § Personal lized (millions) { +20% | ) ML Q2'24 Q3'24 Q4'24 Q1'25-Q2'25) 325 Q4'25 126 Revenue fo) Monthly rev. per avg. su
Slide 28: Strong and consistent unit economics
FINANCIALS Strong _and consistent unit economics have provided a foundation to scale with confidence Proven ability to consistently drive <1 yr < lyr Q1 ‘25 Cohort payback period! over the last 5 years less than one year payback period! (in-line with our capital allocation framework) @ = Payback per
Slide 29: Scalability enables consistent Adjusted EBITDA profitability
FINANCIALS 29 The scalability of our model enables consistent Adjusted EBITDA profitability as we invest behind long-term opportunities ) Adjusted EBITDA’ ($ millions) §) Adjusted EBITDA margin’ (percentage) 16% Roughly 300 basis points 13% of market leverage YoY $78 1% $66 $91 Growing scale has ena
Slide 30: New specialties position us to accelerate growth throughout 2026
FINANCIALS New specialties and a more comprehensive personalized experience position us to scale and accelerate growth throughout 2026 19%-28% $2.80-3.00 | Total revenue ($ billions) §) YoY revenue growth 69% 65% $1.48 94% 83% ene $0.87 $0.27 : 2021 2022 2023 2024 2025 2026' labs labs hormone health
Slide 31: International markets becoming a key growth driver
FINANCIALS 31 Significant investment and targeted M&A are enabling international markets to quickly become a key growth driver International Revenue Key Milestones | International revenue ($ millions) Honest Health HEH canada Acquired Jul. 2021 Launched Nov. 2025 Ed *) $55 Qi‘25 Q2 ‘25 Q3 ‘25 Q4'25
Slide 32: Strong balance sheet enabling investment across multiple opportunities
FINANCIALS 32 Strong balance sheet is enabling investment across multiple opportunities, reinforcing our long-term trajectory @ Operating Cash Flow ($ millions) Free Cash Flow’ ($ millions) $1,144 1,068 6 Cash, ST and LT Investments ($ millions) $1 - $751 $227 $254 $300 $323 suas $109 $89 $85 ¢79 $2
Slide 33: 2026 outlook anticipates an accelerating growth profile
FINANCIALS 2026 outlook' anticipates an accelerating growth profile and consistent Adjusted EBITDA generation Q2 2026 FY 2026 2026 underlying themes yy rm + 3 Revenue S680M = S700M $2.8B a $3.0B G@) 85%+ long-term retention Strong unit economics with YoY growth 25% - 28% 19% - 28% jayback period* <
Slide 34: Capital investments in 2026 will focus on higher quality, personalized care
FINANCIALS Capital investments in 2026 will focus on unlocking access to higher quality and more personalized care for millions of individuals expansion Eucalyptus acquisition’ will expand geographic reach, extending our global leadership position We believe we are positioned to scale to >$1B in ann
Slide 35: Appendix
Appendix
Slide 36: Non-GAAP Financial Measures
FINANCIALS Non-GAAP Financial Measures In addition to our financial results determined in accordance with U.S. GAAP, we present Adjusted EBITDA (which is a non-GAAP financial measure), Adjusted EBITDA margin (which is a non-GAAP ratio), and Free Cash Flow (which is a non-GAAP financial measure), eac
Slide 37: Net (Loss) Income to Adjusted EBITDA Reconciliation
APPENDIX Net (Loss) Income to Adjusted EBITDA Reconciliation (S thousands, unaudited) Q2’24 Revenue $315,648 Net (loss) income $13,297 Stock-based compensation $24,042 Restructuring and other related charges = Depreciation and amortization $3,643 Change in fair value of liabilities . Legal settlemen
Slide 38: Operating Cash Flow to Free Cash Flow Reconciliation
APPENDIX 38 Net Cash Provided By (Used in) Operating Activities to Free Cash Flow Reconciliation ($ thousands, unaudited) Q2’24 Q3’24 Q4’24 Q1’25 Q2’25 Q3’25 Q4’'25 Q1’26 ee a ee $53,594 $85,267 $86,385 $109,090 $(19,117) $148,721 $61,312 $89,356 Hegde! i ($3,212) ($3,342) ($24,520) ($55,327) ($46,0
Slide 39: Sources
APPENDIX Sources In order of appearance: Ogunwole, S., Rabe, M., Roberts, A., & Caplan, Z. (2021, August 12). U.S. Adult Population Grew Faster Than Nation's Total Population From 2010 to 2020. The United States Census Bureau. Estimates of the population for the UK, England and Wales, Scotland and N