Hims & Hers agrees to buy Eucalyptus for up to $1.15 billion
Hims & Hers agreed to acquire all issued capital of Australian digital health company Eucalyptus for up to about $1.15 billion, including upfront, deferred and earnout payments. The company may pay part of the deferred and earnout amounts in its Class A common stock, which would add shares outstanding, and closing is expected in the middle of 2026, subject to regulatory and other conditions.
Key points
- Upfront payments of about $240 million are due at closing, with deferred payments of about $710 million and earnout payments of up to about $200 million.
- Hims & Hers may settle up to about 60% of the deferred and earnout payments in Class A common stock at its discretion.
- Closing is anticipated in the middle of fiscal year 2026 and is subject to regulatory approvals, key contract consents and other conditions.
- The company said it expects to fund most of the transaction with existing cash and future U.S. operating cash flow.
The filing
Written by AI on Nov 8, 2026, 12:59 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on February 19, 2026.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.