2024-03-12 16:33:15 ET
Summary
- Hims & Hers Health, Inc. has grown from a startup ($82m revenues in 2019) to a multi-billion-dollar company ($872m revenues in 2023) with more than 1.5 million subscribers; showcasing its scalability and product development.
- Hims & Hers Health achieved its first GAAP profitable quarter and provided strong 2024 guidance.
- Hims & Hers has improved its marketing efficiency, reducing the payback period for marketing expenses, demonstrating effective customer acquisition strategies.
- Hims & Hers Health is now focused on personalized healthcare solutions and innovation, using AI to enhance services and expand its offerings, catering to a broad and growing customer base.
I first owned Hims & Hers Health, Inc. (HIMS) in early 2021, when the company completed its merger with the SPAC, Oaktree Acquisition Corp. SPACs' growing bad reputation, in combination with the falling market, forced me to exit my low-conviction positions, including HIMS.
Last Spring, someone from my team brought Hims & Hers back to my attention, so I started to dig in. I decided to do a deep dive into the company to determine if there was enough upside to justify a position. I missed the big move off the May 2022 lows, when the stock was in a $3-4 range; I started building my position in the $8s last summer (I probably added to my position a dozen or so times over the past ~6 months). ...
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Pills Pay The Bills: Mini Deep Dive On Hims & Hers Health