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Fellow investors,
HIMS reported another stellar earnings report yesterday and unlike last time, Andrew's comments did not send the stock into a freefall (yet). Solid beats on both the top and bottom lines were great but expected. However, the real improvements came from the incremental increase in guidance, adoption of personalized treatment offerings, and the company surpassing 2 million subscribers for the first time.
However, not everything is good, so while there is plenty to cheer for, we did highlight some KPIs that we’re tracking and release our math on presumed GLP-1 revenue contribution and what marketing spend tells us about net subscriber growth.
We’ve attached the cover page to our report, with the rest available to paid investors below the paywall for download. As always, if you have any questions, be sure to reach out.
Disc: We’re long HIMS.
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