Hims & Hers Jumps Premarket After $1.15B Global Expansion Deal

Hims & Hers Health, Inc. (NYSE: HIMS) saw its stock jump sharply in premarket trading on Thursday after the company announced a landmark agreement to acquire Eucalyptus, a leading international digital health platform, in a deal valued at up to $1.15 billion. The acquisition marks one of the most significant strategic moves in the telehealth company’s history, positioning it to become a truly global consumer health platform.

With operations currently spanning the United States, the United Kingdom, and Canada, Hims & Hers will use the deal to break into new markets including Australia and Japan while deepening its footprint across Europe.

Inside the $1.15B Eucalyptus Acquisition

Announced on February 19, 2026, the acquisition of Eucalyptus is carefully structured to preserve financial flexibility. Hims & Hers will pay approximately $240 million in cash at closing, with the remainder split between deferred payments over 18 months and earnout payments tied to financial milestones through early 2029.

The company retains the option to settle most deferred obligations in cash or stock, with closing expected in mid-2026 pending regulatory approvals.

Eucalyptus brings considerable assets to the table. Founded in 2019, the Australian company has served more than 775,000 customers across five countries and operates consumer health brands including Juniper and Pilot, carrying an annual revenue run-rate exceeding $450 million with triple-digit year-over-year growth in every quarter of 2025.

Following the close, Eucalyptus co-founder and CEO Tim Doyle will become SVP of International at Hims & Hers, overseeing the combined company’s global operations as Eucalyptus brands are gradually integrated into the platform.

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HIMS Stock: Premarket Price, Trends, and Key Levels

HIMS shares rose 7.44% in premarket trading on Thursday, reaching $17.03 as of 7:01 AM EST, rebounding from a closing price of $15.84 on February 18. The move offers some relief for a stock that has been under significant pressure, down more than 51% year-to-date and nearly 73% over the past twelve months, with a 52-week range spanning $15.57 to $70.43.

The company’s underlying fundamentals remain solid, with trailing twelve-month revenue of $2.21 billion, net income of $133.79 million, and $629.74 million in cash on hand – the primary funding source for the acquisition.

Analysts have been cautious recently, with TD Cowen lowering its price target to $20 and Deutsche Bank flagging near-term growth concerns following a reversal in the company’s GLP-1 strategy. Still, the average analyst price target of $29.96 implies significant upside, and the Eucalyptus deal gives investors a new long-term growth narrative heading into earnings on February 23.

Disclaimer: The author does not hold or have a position in any securities discussed in the article. All stock prices were quoted at the time of writing.