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Hims & Hers Health Inc
Once upon a time in the bustling landscape of telehealth services, Hims & Hers Health Inc. emerged as a pioneering force, reshaping the narrative around personal wellness and healthcare accessibility. Founded with a direct-to-consumer approach, the company cleverly positioned itself at the intersection of convenience and necessity. Operating primarily through an online platform, Hims & Hers offers a range of health-related products and services targeting conditions often stigmatized or considered sensitive, such as hair loss, erectile dysfunction, skincare, mental health, and more. The company’s business model hinges on its ability to bypass traditional healthcare barriers, providing easy access to licensed healthcare professionals and personalized treatment plans through a seamless internet-based interface.
Their revenue model is multifaceted, but at its core are product sales and subscription services. Customers begin their journey by completing a brief online consultation, which, in many states, can involve a healthcare professional reviewing their information without an in-person visit. Once approved, the company's network of telehealth providers prescribes medications, which are conveniently delivered to customers’ doorsteps. Whether purchasing single products or opting for monthly subscriptions, users are drawn to the discretion and accessibility of the service. Hims & Hers markets its offerings directly through savvy digital campaigns, leveraging the power of modern e-commerce to reach younger demographics who appreciate privacy and efficiency in managing their health. Thus, the company stands as a compelling example of how technology can democratize healthcare, wrapped seamlessly within the bounds of consumer-friendly digital infrastructure.
Once upon a time in the bustling landscape of telehealth services, Hims & Hers Health Inc. emerged as a pioneering force, reshaping the narrative around personal wellness and healthcare accessibility. Founded with a direct-to-consumer approach, the company cleverly positioned itself at the intersection of convenience and necessity. Operating primarily through an online platform, Hims & Hers offers a range of health-related products and services targeting conditions often stigmatized or considered sensitive, such as hair loss, erectile dysfunction, skincare, mental health, and more. The company’s business model hinges on its ability to bypass traditional healthcare barriers, providing easy access to licensed healthcare professionals and personalized treatment plans through a seamless internet-based interface.
Their revenue model is multifaceted, but at its core are product sales and subscription services. Customers begin their journey by completing a brief online consultation, which, in many states, can involve a healthcare professional reviewing their information without an in-person visit. Once approved, the company's network of telehealth providers prescribes medications, which are conveniently delivered to customers’ doorsteps. Whether purchasing single products or opting for monthly subscriptions, users are drawn to the discretion and accessibility of the service. Hims & Hers markets its offerings directly through savvy digital campaigns, leveraging the power of modern e-commerce to reach younger demographics who appreciate privacy and efficiency in managing their health. Thus, the company stands as a compelling example of how technology can democratize healthcare, wrapped seamlessly within the bounds of consumer-friendly digital infrastructure.
Revenue Growth: Hims & Hers reported Q3 revenue of nearly $600 million, up 49% year-over-year, with full-year revenue expected between $2.335 billion and $2.355 billion, reflecting 58–59% annual growth.
Strong Subscriber Gains: The company added over 30,000 subscribers sequentially in Q3, with a 20% year-over-year subscriber base increase and 50% YoY growth in subscribers using personalized solutions.
Profitability: Adjusted EBITDA for Q3 was $78 million, up over 50% YoY, with Q3 margin above 13%. Full-year adjusted EBITDA is guided to $307–317 million (13% margin midpoint).
Margin Leverage: Marketing as a percent of revenue decreased by over 6 points YoY (now at 39%), showing improved efficiency from organic and nonpaid channels.
Product Expansion: Major launches include low testosterone, menopause support, and whole body lab testing, with a longevity specialty targeted for 2026.
GLP-1 Updates: Hims & Hers reduced prices on compounded GLP-1 treatments by up to 20% to broaden access, with near-term margin headwinds expected to normalize in late 2026.
International Growth: The ZAVA acquisition enabled expansion into the UK and Europe; Canada is next, with international markets seen as a $1 billion+ annual revenue opportunity.
2030 Outlook Reaffirmed: Management reiterated confidence in reaching $6.5 billion revenue and $1.3 billion EBITDA targets by 2030.