Hims & Hers: Growth, Strategic Partnerships, And Operational Leverage (Upgrade)

  • Hims & Hers Health's rapid revenue and subscriber growth, plus improving cash generation, highlight strong business momentum and brand strength. Gross margins have declined due to lower-margin obesity products, but SG&A as a percentage of revenue is improving, supporting better operating leverage. The recent Novo Nordisk collaboration and capital raise position Hims for expansion, though reliance on GLP-1 drugs and competition are key risks.