Hims & Hers Health Inc. (HIMS) experienced a significant pre-market plunge of 16.09% on Tuesday, as investors reacted negatively to the company's first-quarter 2026 financial results.

The telehealth company reported a quarterly loss of $0.40 per share, dramatically missing analyst expectations for a profit. Revenue for the quarter came in at $608.1 million, falling short of consensus estimates. More critically, the company swung to a net loss of $92.1 million, compared to net income in the same period last year.

The earnings miss was driven by several factors, including approximately $33 million in restructuring costs tied to write-downs of its compounded GLP-1 supply chain. This followed a strategic pivot to focus on selling FDA-approved branded weight-loss medications, which increased expenses. The company also reported an 8% year-over-year decline in U.S. revenue, though this was partially offset by international growth.