Hims & Hers: The Telehealth Growth Story Younger Investors Can't Afford to Ignore

Down 70% implicit the past twelvemonth -- and down 60% implicit conscionable the past 3 months -- Hims & Hers Health (NYSE: HIMS) banal is successful a funk, and Monday night's net study didn't help.

Shares of the telemedicine institution person slid steadily since the FDA announced aboriginal past twelvemonth that Novo Nordisk's (NYSE: NVO) Wegovy and Ozempic GLP-1 value nonaccomplishment drugs are nary longer successful shortage. Since that quality came out, the penning has seemed to beryllium connected the partition for Hims & Hers Health and its concern of compounding copycat value nonaccomplishment drugs for nonstop merchantability to patients.

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Throw successful a spot of terms contention from branded manufacturers of GLP-1 drugs, Novo Nordisk and Eli Lilly (NYSE: LLY), who person chopped prices arsenic overmuch arsenic 80%, and Hims' maturation slowed importantly successful the 4th fourth of 2025.

Hims & Hers reported its net for Q4 and each of 2025 Monday night. The institution "beat earnings," with quarterly nett of $0.08 per stock but missed somewhat connected sales, reporting $617.8 million. (Wall Street wanted to spot $618.7 million.)

Sales for the 4th grew 28%, which sounds similar a batch -- but comparative to a full-year income maturation complaint of 59%, it appears quarterly maturation got chopped in half. What's more, the slowdown whitethorn beryllium spilling into 2026. While connected the 1 hand, Hims insists it volition bushed forecasts for the year, generating astir $2.8 cardinal successful sales, absorption said its Q1 2026 income volition travel successful betwixt $600 cardinal and $625 cardinal -- missing expert forecasts of $654 million.

Investors were underwhelmed by the report, selling disconnected Hims' banal by much than 8% Monday night. Given determination are besides worries the FDA whitethorn prohibition Hims & Hers from continuing to merchantability GLP-1 compounds, it's understandable investors are nervous.

But here's the thing: While selling copycat Ozempic is simply a large portion of Hims & Hers Health's business, it's acold from the lone happening this healthcare banal does.

In its 10-K filing accompanying the net report, Hims & Hers confirmed it grew income 59% successful 2025, from $1.5 cardinal to $2.3 billion. 40% of income came from the company's Hers brand, and GLP-1 income drove the maturation astatine Hers. But adjacent so, "The bulk of our full United States Revenue came from non-GLP-1 offerings."