Hims & Hers Is Quietly Building the Netflix of Healthcare... Their Insane Numbers Just Backed It Up

You ever have that one friend who used to be... rough? Like, truly rough. Hair looked like it lost a fight with a lawnmower, acne doing numbers on their confidence, smelled like a middle school locker room, couldn’t hold a convo to save their life… and then boom. Out of nowhere, they hit the gym, start using moisturizer, learn what a fade is, and suddenly they’re “talking to someone” with a wink? If you can’t tell, I have, and that’s basically what happened to Hims & Hers.

Every time we check in, the company’s leveled up again… inking new deals with Big Pharma, poaching execs from Amazon, and spinning up another subscription to help America’s balding, bloated, and burnt-out masses feel a little more put together. And yet… after dropping a blowout Q1 earnings report, the stock slipped 5% in after-hours trading yesterday.

So what gives? Hims & Hers booked $586 million in Q1 revenue… a 111% jump from last year. Which has to be high up there in history. EPS came in at 20 cents a share. Wall Street was looking for 12. That’s a 300% earnings surge, which (again) is not normal. Adjusted EBITDA, the number nerds go pants off for? $91.1 million, up from $32.3 million last year. No big deal, just tripling profit like a walk in the park.

And we all know how much Wall Street drools at the idea of monthly subscription profits… Well subscriber growth hit 2.4 million people, up 38%, each spending $84/month (up from $55). If you know anything about subscription based businesses, that’s a miracle. And to top it off, they hired Nader Kabbani… the guy who literally helped build Amazon Pharmacy and ran their global COVID vaccine rollout. So, yeah, he knows a thing or two about scaling healthcare logistics.

So… how did the stock dip when they posted earnings that will go down in history? Their guidance is actually realistic. For Q2, Hims said it expects between $530M and $550M in revenue, which falls short of Wall Street’s forecast of $564M. And because the market has the attention span of a TikTok comment section, traders dumped it (as if the earnings was a failure).

But make no mistake about it… this isn’t a miss. It’s a calculated move. A strategic, FDA-compliant, (and most importantly) still extremely profitable move. See, Hims had to stop offering compounded versions of semaglutide (the generic behind Ozempic and Wegovy) after the FDA said the official supply was no longer short. So guess what they did? They locked down a real partnership with Novo Nordisk to sell the actual drug. Then expanded into liraglutide and tirzepatide… aka Zepbound and Mounjaro from Eli Lilly. That’s like getting cut from JV basketball and walking straight into an NBA contract.

CEO Andrew Dudum says more partnerships are on the way… and if his recent track record is any indication, he’s not crying wolf (like another CEO everyone worships… talking about Elon). The company reiterated its full-year revenue guidance of $2.3–$2.4 billion and long-term plans for $6.5 billion by 2030. That’s 22.5% CAGR for revenue and 33% CAGR for EBITDA. Ambitious? Sure. But they’ve hit every milestone so far.

So while the Q2 outlook might seem underwhelming on the surface, it’s not a red flag. It looks more like a short pause to recalibrate after a surge in growth…. and position the company for what’s next. Wall Street seems to be warming back up today… considering the stock is up 4% and climbing.

And analysts are all in on the plan too. Leerink just raised their price target to $42 and TD Cowen bumped theirs to $38.

PS: It’s a mess out there.

One day the market’s ripping, the next day it’s Black Monday all over again. Recent earning’s reports have been a total coin flip. One stock beats and explodes 30%… the next misses by a penny and gets sent to the Shadow Realm. And through it all, everyone’s begging for Jerome Powell to finally cave and cut rates.

But underneath all the panic headlines (“Inflation too sticky!” “Recession imminent!” “Tariffs round 4 incoming!”) something wild is happening…

We’re seeing violent price action. Especially in the small-cap space, where low floats and high anxiety are creating the perfect recipe for 100%+ pops before lunchtime. Some of these names are moving 200%+ in under 24 hours… and to our knowledge, NO ONE else is covering them.

Except us.

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Stock.News has positions in Amazon.