Hims & Hers Eyes Vertical Integration

Hims & Hers hit regulatory hurdles.

Weight loss woes. Shares of the telehealth company plunged nearly 30% after the FDA removed shortage status on GLP-1 drugs, barring the sale of cheaper, compounded versions.

Shifting focus. Hims beat Q4 earnings projections with $481M in revenue (up 95% YoY), but after Q1, it will stop selling compounded semaglutide — which generated $225M in 2024.

Even without, Hims forecasts $725M in 2025 weight loss revenue. Retooling, it expects new treatments and acquisitions to bolster its bottom line.

• It’s adding generic liraglutide and expanding its oral weight loss medication portfolio.
• Hims acquired Trybe Labs, entering at-home blood testing and personalized treatment plans.
• The company purchased a California-based peptide facility to enhance its supply chain and offer new meds.

Long game. Cutting its losses, Hims is expanding into preventative wellness—challenging specialized care providers—by providing testosterone, menopause, and longevity treatments within its platform. Streamlining coaching, it’ll pursue AI dietitians, trainers, and therapists.

Looking ahead: Positioning itself as the “anti-healthcare” system, Hims is investing in vertical integration and owned infrastructure to capitalize on America’s institutional frustrations.