Hims & Hers Health (HIMS) 4 Nov 242024 Q3 Earnings call transcript

Ladies and gentlemen, thank you for standing by. My name is Krista, and I will be your conference operator today. At this time, I would like to welcome everyone to Hims & Hers Third Quarter 2024 Earnings Conference Call. [Operator Instructions]

I would now like to turn the conference over to Bill Newby, Head of Investor Relations. begin. may you Bill,

of and XXXX the the Earnings this a we everyone, our find Health at website market & Third released investors.hims.com. copy letter, shareholder Quarter Call. quarter's you welcome afternoon, can Hims on to Hers closed, which Good Today, after

Co-Founder Chief Chief call and Financial with our Dr. is Medical Officer; Executive Patrick Andrew today the Chief Yemi our Officer. Officer; On Dudum, Carroll, me and Okupe, our

you vary Andrew, of Please among our Before safe to statements of to in they I whether this after remind We over competitors a future events, need relate assumptions and Certain legal materially. forward-looking projections reports factors based to XX-Q obligation that statements. changes other and of information, to discussion take and I this current filed call, any subject publicly market, hand for risks of uncertainties to future and declarations. as new see results risk in cautionary on, forward-looking actual most our that are otherwise. harbor to cause expectations it regulatory recently update XX-K statement are and could things, made presentation statements as forward-looking result constitute results a no or and

shareholder certain presentation, financial GAAP measures you have today's tables In we We most will press directly comparable contained and non-GAAP refer to release measures. financial letter. also to today's the the reconciliation in

this After website be find the information as archived link investors.hims.com. will the XX can You webcast at well months. for today's this a to as call, webcast on

to turn will I the with And over call Andrew. that,

a several feel expanded quarter as that of better consumers including millions our last capabilities speed on We power progress from continued the value, into platform the through momentum help across further considerable half, Strong made breadth to health. great and and world-class dimensions of transparency platform, of and to needs, provided the we Bill. personalized second Thanks, the consumers can way. with address concerns lastly, technology customized enables to across unique that providers solutions them their our specialties and by which address they more in personalized access solutions the convenience our

our as Ongoing into $XXX points XX%, EBITDA, surpassed XX% disciplined results. mission revenue million is success A million XX Year-over-year delivery enabled the $XX margin. quarter-over-quarter in the adjusted growth to revenue business a we in to accelerated approach to us quarter. in exceptional against reflecting adjusted EBITDA investment surpass translating in

subscribers solution. market with strategy Our the mass third prices high-quality of We north utilizing a subscribers and personalized resonate million XX% consumers. solutions of offering to quarter ended personalized at of X over continues with

We believe there are X personalized of primary adoption factors driving rapid solutions.

the first specialties. personalized continuous The new solutions is within of expansion

access loss. weight we and During the dosing to quarter, third for titration launched schedule semaglutide personalized within

broader access second draw platform a treatments and both includes is across within scaling specialties. of personalized compelling on our in The of multi-condition This address that that to users. available the solutions number set concerns multiple

our underlying The near of and we're unmatched. our factors, be these high them And for customers a at solutions price chewable future, offer more capabilities third now to strengthening to can solution believe proposition expand, is that gummy. we finally, access and a selection topical or solutions that via is in form unlocking points, utilized value as the able accessible wider

outcomes. with developments achieving allows ultimately will these Each we more positive a needs, support of and of believe their us which treatments service broader sticking set to consumer consumers

has Hers this eventually it and impact All benefited innovation, believed that match, we're if dermatology, point. across brand. the area surpass, [indiscernible] in that becoming subscribers business inflection of at specialties as Hims surpassed have the specialties the we the from of the this brand is Hers such our our I've not to increasingly potential have brand, an always the significant as on quarter size of is Hers it seeing XXX,XXX third clear

of health, disparities fibroids menopausal clinic therapy women. personalized health that In us patients addition for response narrowing has Including Officer recently dermatology. Chief of management, the More weight Jessica endometriosis, Dr. a years mind women. XX she sexual top of are for Medical to Shepherd, for has joined this nearly who Shepherd accelerating OB/GYN, to as served Dr. across run across issues solutions health, health and trajectory, excited Hers. announce we has offered recently, and hormonal A board-certified

of level historically most privileged continues available has Our to been strides only of expanding access to in to segments society. platform unlocking make care significant a the that

and most we ability from to As the in have personalized available from loss. at increase our less income our the across ended care XXX,XXX the the America. communities market mass XX,XXX as prices. weight made average on high-quality with subscribers some quarter and platform platform over to $XX,XXX, of with We've continues subscribers to solutions ZIP those nearly of are below seen where household joining seeing increased access affluent third populations reach an an We individuals vulnerable scale, platform codes is we retaining in on

others many healthy, medical that to finally, teachers spend loss lives and us that of communities, lives care. communities X,XXX This keeping individuals Similarly, weight and roadblocks see from of and save Medicare military the XXX,XXX end lack first Over in case barriers where seeking seeing keep with their loss, of safe face older increase And are often mobility of we caring in issues, safe. over for to access of of often an educate treatment. the nearly our accessing financial we country age includes solution. our at a personnel XX, our responders subscribers subscribers quarter are constraints when those weight and coverage veterans who and as present

that as is value technology scale ability importantly, supported service bring to to it personalized and month. advancing initiative, loss our our allows our solutions type launched and a September $XX compounded us military, as offer to which weight per veterans, of XX, scale, proud to U.S. is continuously incredibly by low GLP-X first appreciation on I'm access nurses for more this responders teachers, consumers Underpinning platform. of

demand, ability on Our a platform generally have disruption sitting hours follow-up standard weeks. to which our loss or platform mental health concerns seamlessly and care access of in Access like comfort a areas traditional enabling beneficial days is high-touch care Consumers opposed providers of small weight especially is loss and by own us waiting minimizing high the or the time and to outside address home, their on only accessible from working room. message of hours, within as historically commuting providers to population. in income from democratize to a

and kind of into is Dr. some drawing the touch briefly for personalized Carroll, by has of to outcomes. translated success the of we patient Chief over believe new dynamics in Officer, Patrick like support through believe talk this it our specialties. We remarkable to higher platform the we're Medical and critical our pass to some positive customers adherence seeing to providing I'd

Andrew. Thanks,

XX deepest and of offer hurdles with care providers own again the medical of of level for desires was running that overseeing are care. and one course Over deeper to of health have heard their the and include, several technological them the platforms impact practice There need for patients spend years time unfortunately only that tools a my providers. a medical designed increased again institutions, I of recent numerous result tasks first, operate are which nonintuitive day across administrative navigating patients providers for providers to on as These medical and lose that from the years. a in with not time medical or disability many inefficient more

to ability unlocked to Hims remove an This touch traditionally care patients. providing on through ability patients deeper & has particularly care innovative higher Hers these to business been as and to weight practices a providers transformational areas thoughtful for such exceptional hurdles offer centered loss. of has technology level in medical

the impact on ability a society. We GLP-Xs have believe have tremendous to

engagement unlocking of further than that by them with result affordable to intolerable treatment. weeks. continuing from after prevent weeks Studies effects That XX% their barriers less the loss, patients side XX% falls potential. gastrointestinal frequency shown muscle issues providers several and lack desired X than of solutions less medication and to number of XX full access in However, like substantial have of

with we strong platform, GLP-X Hers the proactive with their a drivers We XX% of Across are completing retention care, believe of in X X engagement there XX compounded check rates of continuation with subscription. primary observed engaging continuing seen At the patients platform weeks, through weeks, have By for are we the provider. & XX% GLP-X patients results. Hims of solutions. or including great these

by By engagements the First, least weeks, our provider patients we've engagements. platform provider weeks, consistent had on X XX have platform enables of an X at communication. and with had typically the average X

consumer incredibly in their once challenging the Once patients at typical a still setting. at of of brick-and-mortar service to average scale patient schedule, to average would This level month. reaches offer titration end engage be least of with the on providers the the

with concerns the Hims providers Second, on them help removes to leverage Hers to on and structured products dynamics providers. administrative highlight EMR our tools individual nodes patients that technology address and overhead and data on risk better platform proprietary Providers flag to our programmatically patient access automate and on needs. equips certain tools have with platform & for them important

results ways MedMatch as balance such loss proprietary schedule and medication with our weight AI the effect technology capabilities providers in support titration side Additionally, including Hims management, adjustments. to identifying by & Hers,

population patients Standard challenges breadth means individuals expect American or and However, our of we serve for personalized side to the effects the diarrhea nausea, across doses work dosages. a on of wide sarcopenia, broader obesity like are concerns doses and options a platform can patients. millions Third, that the providers there who stand of common many with muscle diversity have from benefit set many loss vomiting, of given personalized will

customer accomplishing program and reached who personalized goals. patients than and a on loss check-in, thousand these who reached XX,XXX reported are their XX-day the data, indicating those seeing several based check-in of on their more have Finally, they excited are continue to have results are XX-day subscribers from weight

have on their in their We first initial X.X% seen weight lose weeks. X of body average of customers

benefits have continue personalized are who available consumers their medication report weight. care platform customers clinical X-week While we X.X% We positive mark, body seeing reached more of their believe and through the and have with schedules the are as lost our the solutions clear of outcomes. initial

While mental laying are capabilities weight excited that specialties expect the expand in we over foundation are health am with that innings, and loss early our by both their will time. we I

Dr. insights, for Thanks those Carroll.

by excited how together. of and As so the the of over built momentum I'm years XXXX, are months we we've last all X seeing are final the the we pieces coming enter

leader scaled continues technology increasingly a becoming Each and Our and pillars, strategic with leading subscribers in a how are the over excellence solutions. the to a is known see respect connect We innovative pace. services increased enabling brand, rapid a benefit our us way rapidly platform, to brand that to specialty is products and weight the as loss bring with in at in of high-quality to clinical trusted personalized year. course coalescing value has customers our last our of this

to I'm that together obesity impressed come step preventable to and team company Americans the with an deaths integral X.X our to year. that access how a part solutions the grateful taking of weight management can each in reducing enable contributes million play toward has

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the voicing months, our name decrease consumers seeing been come total have through recent brand have a XX,XXX of GLP-X In X obtain we consumers the increase, that reports number not over weeks. in treatments. frustration to from are their And unable of platform last

day fact, X,XXX have obtain nearly a on week, to last we that brand name from indications single unable individuals GLP-Xs. saw In been

actively part and communicating voices ensure and we that their dynamics their across bodies share doing we state experience regulatory with to to are are platform. are our our heard customers are the seeing legislative Consumers federal of and the and

in principles a resolved. the Our success weight specialties to provide that belief path for the is continue unlocked other shortage loss is that to succeed ultimately when have

a program building requirements different per be behind a that last holistic underlying solutions including We low breadth individual's to weight weight needs gain. an of as access launched aimed durable. for a while drivers can $XX Having consumer solutions oral-based as to fulfill us expand loss and that increasingly specialty to enables at addressing personalized to month, continues November access the

platform. the results our personalized weight XX% expanded GLP-Xs of part using the population. have of program of loss average customers the GLP-Xs weight customers to least The on holistic medications self-reported by utilizing portion are being life-changing loss American Our reported numbers oral of potentially and the a solutions at addition compounded on for access unlocked that offering broader these as further

generic first the to in platform bring plan we Next, XXXX. the GLP-X in the Liraglutide, market to

over to for confirmed and as next already completing validation have supplier months, as of well and We a certificates few batch authenticity. addition confirming test finish expect the core this

us Our providers for with with match goals. appropriate options individual's help products need. balance enables most providers like loss consumers with ability technology as their GLP-X platform their support effectively and to frequent can side solution with progress in communication personal weight maintain they patients identifying Consumers' to an concerns them clinical their help effect the treatment to

affordable in We continuing are we ability our significant consumers long by at access solutions prices has to bring The the scale. enabled enable continue to expect to actively to to high-quality, personalized over quickly democratizing to on us weight facilities, us term. invest XXX(a) offering will which achieve solutions the platform loss personalized value

of that U.S. aspiration having & for wellness Hers needs. can with me provides their front personalized ambitious Hims our using household fulfill this on execution health the and every confidence in Continued we

With financials to over Yemi in detail. to the our for of and through the greater will I year pass outlook remainder walk it that,

will Thanks, year overview by has to I third transformational momentum shaped a several financial exceptional quarter our outlook date, with Andrew. then across start discuss updated To areas performance of up our providing XXXX. XXXX of for and our be business. an

there our see to personalized for what are quarter. platform prices. It clear is We as for well increasingly at trajectory excited in is brings accelerate third the strong high-quality that solutions already was that becoming value demand consumer accessible as tremendous a the

driver out across revenue of Expansion our quarter platform. channel. third subscriber online the XX% with strength of base of quarter, revenue increased $XXX.X Online the year. the was our million, million, In ongoing primary up year-over-year the coming of to $XXX.X to third continues from last growth XX% online remain

net subscriber quarter. Our the at over added in a base level grew record with subscribers pace XXX,XXX third

quarter with last over a the subscribers, year. increase of from ended XX% third quarter million We representing X the

coming resulting GLP-X related of our our subscriber While offerings. non-GLP-X is is offering the users majority coming to growth incremental in the platform, our from

Our excluding grew subscriber XX% approximately GLP-Xs, base, year-over-year.

continued Our can to continued success portfolio growing subscriber innovation base our across attributed solutions. personalized our at be largely of

pleased value year-end, goal consumers X care over early. We of are of solutions quarter achieve the our million and a to bringing by personalized to

solutions We are seeing platform personalized reflected value the two on the to customers ways. of primary in

meet struggled The first broader have through a needs. find treatments ability their is drive clinical of an may to audience historically to users that who

come of us with set Personalized requirements, concerns to solutions broader enable reach a different clinical consumer phenotypes goals. and that

meet factors have and solutions individual to from messaging form more their we dosages, able innovative through to personalized access believe in relative provide in years interested earlier subscribers example, new can For suffered third needs. of XX% with quarter, we loss are to and differentiated number to innovation grow continue from the and preventative on to measures. benefited of that for solution individuals journey in continued and hair clinical the a to customers' North this

satisfaction. part reflects which design The feedback solutions. across we them a greater we process second affordable that from consumer increasing drift to personalized the adopting of through With User believe way core value our personalization higher seeing prices, retention, higher factors is individual of adhering prevent or at are demonstrate we for customization clinical a specialties. is many needs seeing are for treatment retention around

of personalized some points solution by are the a mix than utilizing seeing dermatology, For increase increased points XX% more XX example, of we the those subspecialties approximately annual year-over-year in of year-over-year to as women's retention XX specialty.

one from another this been that offset contributor subscriber specialty monthly benefits dynamic, a weight to personalized quarter mechanisms. to toward loss online XX% has monthly offerings We average the compound in continue driver $XX. innovation to which last the for a specialties carry continued migration lower in A shift personalization headwinds per online been across average subscriber clinical continued revenue commitments our to per two increased has of price. longer-duration success towards key increase believe needs, in relative more in year premium average has through Monthly with the revenue third that future. individual and these will The

have average $XX product from weight depending $XX Firstly, our and other carry offerings. on specialty ranged per offerings solutions to higher loss our Historically, to price duration. a monthly relative month

$XX our $XXX per management starts per weight and at offering at oral Our generally GLP-X month. month, offering starts

had and existing are our weight subscribers subscribers multispecialty solutions come weight loss adopting with to preexisting and are solutions across of the for weight subscribers & other a Hims many loss the subscribers subsequently XX% platform initially Secondarily, loss a to specialties In relationship specialties. XX,XXX adopting loss quarter, other were customers that Hers. acquired third solution of weight

conditions the two subscribers inclusive treatment on been of for single adoption multi-specialty treated largely on or the Increased nearly a capabilities. XXX,XXX quarter, with third more multi-condition subscribers organic. In platform, subscribers were has for

our to number of expect multi-condition consumer As to subscribers and specialties on enabled across we of the of continue benefits. advancements the to as believe has variety XXXX, subscribers platform. multi-condition broaden allocation drive our potential experience to increase. simultaneously receive expect the continue to we growth. elevate margin solutions In immense us users the treatments, this technological multi-specialty while for execution accelerating robust number personalized profile revenue a retention capital of we through higher elevate Effective multiple maintain carries We to framework

in $XX.X was more In EBITDA year-over-year to to quarter, than margin X an margin last as expected Xx associated degradation with increasing adjusted product launches. expanded gross points year. operating the XX% nearly third in expenses Adjusted efficiency million, gains new offset relative EBITDA

loss degradation. driver margin Scaling was the third quarter-over-quarter XX% margin X primary of weight of quarter. points the specialty in Gross declined the and was this

last we are cycle. common early dynamic life offerings an a margins As quarter, lower often in we see highlighted

automation gross cost Management from and the As enabled to margin from to to future. in our pressure offset are to we these gross operating structure of a we continues margin us offset the headwinds. verticalization, portion headwinds of efficiencies offering scale expect able unlock and

as expenses to improved G&A year-over-year see points opportunity of and costs X XX%. costs and year-over-year X continued for quarter-over-quarter G&A points percentage as of in but mid-term, the revenue to may XX%. X and fluctuate X a point improved we points revenue support Operations quarter-to-quarter, from a quarter-over-quarter percentage leverage.

routing We and we like efficiency expect as and leverage the areas continued performance customer gains efficiencies the long these our further improve over scale support term clever teams. benefit technologies from in care to of mid- to

as X our emphasis percentage favorable newer a with a the for as a groups along new record row. retention rates. company growing XX%, in points marking our revenue The of improved maturation history enhancing to public is on personalized solutions, year-over-year Marketing the a to second quarter introduced customer in pricing models of

Additionally, we cost-effective are Hers & acquiring Hims the channels seeing continued customers brands as more of success grows. in through awareness

As driving these and feel both are comfortable loyalty. experiences, categories in expand we more where customer factors consumers their discussing growth

was offset our a third tax last the possibility this $XX.X in in income period to increased deferred a our and the assets. valuation resulting benefit $XX.X million partially quarter by Net tax of utilization due release highlighted included quarter profitability, likelihood improving long-term expense. I around Recall million certainty tax related the current in tax of allowance the to

was across shareholders flow result taxes business the were balance further continues million valuation $XX.X and tax a the return by invest before in income to in for the improving strengthen us execution income putting Our to strategically our cash the great which impacted third Excellent position capital growth, sheet. to which release. quarter, dynamics, in effects, allowance total excludes

to strategic of a we the flow market increase third and balance and we value and make be of by $XXX quarter-over-quarter to short-term cash quarter, between free on enabled disconnect nearly million. quarter believe intrinsic saw investments our million to million in stock. cash what investments third value meaningful our $XX.X us the sheet In Solid $XX the

average authorization. million repurchase price allocated to on the repurchase at of X.X At we an result, our million quarter. share remaining a $XX $XX of million $XXX during $XX.XX there the end quarter, the As share shares were million

balance capital additional into how like priorities reiterate Before going insight our remainder and allocation give sheet. the the into year, of to we our outlook for intend our utilize I'd to

tens Given the is positioned millions we to of the individuals. momentum of are model we continue to business, seeing help our across believe

that our our first our the has needs such, platform As growing in capabilities to place ensuring the necessary remains priority in meet subscribers. of

go While during we moderate focus. expect quarters, been significant CapEx more has will further These fourth investment the as the we investment primarily investments evolve of for two capabilities. through our quarter areas last X

to increasing clinical individuals their a First, solution to address to designed capacity our provide uniquely more personalized access needs. with

second, position investments available facilities. variety increasing form each to the of level these affiliated at of our of expect to options We will treatments factors, expanding customers; dosage us and multi-condition continue automation the our

expect to solutions consumers allowing while efficiency strengthening We for drive value unlock to platform. access available increasingly to and greater population our of us an our allow these investments wider the on competitive portion more the position

opportunities through explore to continue of evolution will the M&A platform We to expect our strategic transactions.

bar this high towards in the feel balance extremely we XXXX accelerate a an provide the will deploy that is high-value our like of our set we to our With example willingness great assets outlook. regard, Medisource final While sheet I'd to strategy. our acquisition backdrop, update that for corporate

the range In to a year-over-year we are the representing revenue XX% anticipating in $XXX of fourth increase million $XXX to million, of XX%. quarter,

EBITDA the to between margin $XX million, expect $XX midpoint XX% We to an ranges. adjusted adjusted be both representing at EBITDA of of million

increase anticipating $X.XXX of For XX% billion year, are to year-over-year we $X.XX billion, representing between a of the to XX%. full revenue

will imply adjusted revenue million. EBITDA margin adjusted of These XXXX expect of at between ranges be EBITDA we and the adjusted Lastly, EBITDA $XXX $XXX ranges. both XX% million midpoint an and

with to no to X the more fourth in of in relative quarter points significant Embedded this our to as to us portion XXXX. investment will margins the than prior for dynamics to of leverage per XX%, business EBITDA least annum in to educate drive well marketing achieve and adjusted general expectation our awareness at spend confidence goal of as marketing build outlook continue and A for X increased brand solutions Current our space. in of the Americans evolving momentum of the later an quarters. be provides management weight on substantial is

weight in to expected quarter degradation specialty continues margin the traction. gross our gain fourth is loss as Continued

expect to of other the enable new platform specialties. our GLP-X such will users to weight as We we enable and loss demand as the through will us platform in solutions across pharmacies solutions believe reaccelerate to will of an fulfill that liraglutide. increasing of investment we capabilities bring for tens bring to Capital us investments portion benefit invest affiliated start to our of XXXX, these in in our millions

Our business has and our subscription majority our always relationships than now platform, revenue. revenue our ever, centered our focus on derived recurring but centered of The strategy more is the is subscription of from subscribers. retaining our expanding around with acquiring,

order As longer result, no XXXX will average we after report filing. XX-K on a and orders value our

the Our to XXXX. trajectory investments for the business continue excellent we the in short More and consumers capabilities phenomenal to a XXXX breadth solutions. platform as coming has organization. across as as nothing foundation setting of of and are talent The in robust more been trajectory our well in technological expand due execution are capabilities current to

technology's patients the our treating administrative platform to result burdens. under a ability handling of drawing providers world-class focus help as versus are We them on

Exiting benefiting the is year potential the across is clear platform signal resonating with personalized and more consumers from benefiting platform over our that X subscribers a from on the our can strategy many America. bring solutions million

Hims these member the drive from be commitment to team at incredible ability ongoing results possible and not & Hers. would Our dedication without every

operator great feel the will it well to turn as them thank for the health. mission over that, us power to like customers, I all of of our for now better questions. of supporting the partners With as world shareholders in and I'd helping our

of [Operator Instructions] Bank question Your from line first of Allen Lutz America. comes with the

think fine? in that either but providing members caught on prepared the you are the would the remarks, quarter, or didn't I contribution revenue what I was be it GLP-X

We Thanks the of question, Yemi. subscriber provided the This growth for base, Allen. excluding year-over-year rate GLP-Xs. the is

So that was of XX% north year-over-year. number

it. ultimately mentioned And belief Got the can Okay. continue then a succeed resolved. is Andrew, when shortage we to you that

a of form opportunities letter. the You like you mentioned factors. now? describe in shareholder us different GLP-X looks the you You year from a But different to mentioned of think kind lot what business do can

business mentioned You world growing.

we You next that mentioned the maybe How the liraglutide. way about should you're think about time thinking this business year?

Allen. Thanks, Yes.

all of assortment. we're like breadth the at within of a portfolio looking diverse think the product I specialties, our

oral That medicines And so we to on business fastest loss when run of the the had business platform. for loss of million we you business, look which $XXX business, $XX weight is rate weight per that GLP-X the delivering launched, XX% the at month. the

like which platform are liraglutide, to have then generic now coming XXXX. medications in the medications You

You to semaglutide, the have side effects like of when mitigate off-brand muscle the comes those and to patients need medications hyper-personalize to and it for on-patent ability loss that vomiting. nausea millions of

So year the And across a a quite dynamic of those now. all whether enable of next avenues different of will composition really, not think business that months we of weight. or in durable shortage think, or that years or I couple is regardless from happens

with I the think XXX(a) that when I people there's million care these personalization. side has that on. given country that many clinical the XXX respect patient. think And medications, That's the expect And suffering our the will personalization legislators, side is level the millions fully need drug to it's the system rate of need in the high precedent very equipped for the existed a to north really regulators, for talking many, specifically very, deliver on the the effect years. GLP-X for been and of personalization health patients really from compounding that we company, well necessary and you're platform this over of of long about obesity haul

comes question Canaccord. Ripps next Maria from line the with of Your

Congrats the quarter. Great. strong on

for question a Patrick, is actually. this and First,

the during GLP-X were personalize the the secondly, treatment, given platform? the patients drop duration these rates about of observing reasons titration talked healthy initial Health broadly, you And initial are retention about more maybe on key average to some of of sort that sort out patients the especially the of period are So especially Blue Intelligence driving the compared during study. that thinking you of are to some you're to of how period schedule? able you then treatment, What

week, let the study on comes call. the the first astounded. question, white we When really and to the numbers out quite Maria, it the take paper last Yes, me GLP-X passing put are

on treatment are brick-and-mortar XX% to of you getting and XX-point As & in adherence. traditional or this the type retaining around the XX% of that Hims delta the just in platform that mentioned, a treatment relative personalized clinical hearing system Hers a That's patients reported. been on has

at And over also the adherence public of the data course year, when look on the low. GLP-X staggeringly is you data the

actually You're The relatively very are XX% talking reasons these for but material. being straightforward, about people XX% to retained.

You these person single effects. tries who side have experiencing nearly every medication

is bear very of widespread loss great gastrointestinal they many got those patients, can't muscle nausea, side effects. You've vomiting, for concern, And issues.

about And what's is of Hims really combination got the powerful so factors. the Hers platform I think you've &

the got provider You've communication.

this providers set the optimized side in effect, where are the communication dosing, is month, is treatment to robust underpinning to MedMatch to slower the every a optimize regimen right a talking could you've that be providers for day the treatment prescription them really got titration patients these single technology adjust helping from As patient's dose needs X, mentioned, for adjust and patient's able for titrate, allowing that of in so to order and start engaging schedule we've with set preferences. any

outcome is high-touch of for rate, going side going this better that effect and ultimately the specialties, continued to then really technology a and dosages. for the much capabilities to given personalization these see allow of under outcomes. on for wide more we the treatment and specific, provider range to think hood, expand the I obviously, of QX, to letting And patients, expand I key This better you'll have it's other platform the in driver the be the nuance continue in a result us adherence. And allows and understanding think of has clinical more in the personalized then in but like

providing with factors Maria, the to having then take really second in is your is of durations platform. driving providers And are brand, really that the part longer The To this comfort question. also seeing mentioned a the the to commit act retention the with partner and transparency the stronger Yemi. consumers as upfront across consumers greater are What that Andrew on care platform. is we

the on for spectrum duration right consumers sits like seeing higher the consumer. And that across now GLP-X so I at of currently the think roughly we typical months X solutions, the around end are adopt

with the from Daniel comes Citi. question next of line Your Grosslight

Congrats on strong the quarter.

you you would folks are in that personalized noted for around math that, call less XX% of my GLP-X and a your make numbers, dosing shareholder and I think, titration little it on on that correct. letter You GLP-Xs than which the is mentioned, XX,XXX introduced if the

you'll abate, that So able your then XX,XXX more around these that personalization compound around continue it I GLP-X that the more get once heard to is -- is to to wanted I understanding to to personalized it correctly, on go titration kind And just personalized dosages be the -- carve-out? that schedule? be that titrated that, shortages confirm of able on enough

Thanks, Daniel.

put was for to patient I don't the that that in patients was think we number study I but GLP-Xs, outcomes specific XX,XXX, think personalized the doses it Regarding out exact of on -- on aggregate. specifically the on

to across us patients I specialties, the think for that of our are many nature That's coming comes type you the years, and more for person us. personalization. given more of to know, as business,

I think catering those so our platform to needs. to will continue invest in And

on which can shortage necessary well and the allowed of can be it not factor, for can doses, for therapy. always There's combination are allowed and in very necessary, compounding whether or be this The for not or the and has personalization it flexibility. clinical exemption be when documented form in outlined a compounding exemption, aspects clinically

compound We treatment is believe that built specifically for. type much of down what that a exemption effects center the for dosing to mitigate right this very is side of

think are right? there's some clinical those outcomes personalization it, and overwhelmingly were we Maria, white effects for side struggling, these of of back level also with these people go about the talking really like of benefits to the most many and this it around medicine see awareness stop, papers we and and taking and When of of public stopped on right? reasons. adherence data They I in widespread platform the you the clinical just

well-respected well very really the parties the compounding level that think is it's the within respected And so very care, bound exemption. precedents, the much all ability we customize of also across believe And we very of industry. the in to

that up increasing was Yes. recently the the investments to that on about make and compounding you Makes in And you you operational fourth mean running get GLP-Xs? do were quarter? pharmacy of need the of that and acquisition closed, talking the sense. XXX(b) a to I on And that what bulk then CapEx

question, Yes. Dan. Thanks for the

through So of look expanding make it to at it automation. playbook stands today, leveraging have we of as that the scale the GLP-Xs overall that produce capacity does acquisition course the on that I We are over think well with know think next just quarters when we I the will Medisource, to we as the capability have GLP-Xs. looking platform. the Really investments the the of our efficiency is as of couple

the in quarters And so more coming on that something we past, in do and the drive across utilized and deploying front. that that expect that the efficiency we've more to other playbook specialties knowledge to

think With areas. across really respect to diversified that your be question, second CapEx I will the several

clinical resonating clear received it with given that the address produces consumers overwhelmingly to that have needs. We unique fact are signal their advantages personalization

And million so remarks, now benefiting are have of subscribers base. half I from subscriber than think over personalized as X we that mentioned we the in solutions, prepared the more

but a as to of the we verticalizing addition we're widen GLP-X can also have look capacity, personalized to have, can options So the also, coming both personalized that the aperture going start result, we to to, options breadth the quarters. operation, from that in in

those CapEx so And that really would say I a mix elements. the is across

Percher comes Your next line the Eric from Nephron Research. of with question

towards on I move environment think there difference as do XXX(b) And major the is And changes? the for in follow long-term, how that the you need to regulatory investments like near as to any line. I'd mean to those two you in term. efficiency XXX(a)? heard, if I XXX(a) on the flex just about ability

question, Thanks Yes. the for Eric.

we're same I able time. walk going to chew to and need gum that the be at think to really,

So we have a very talented the team across board.

also in We million cash concurrently. growing to strength that us of and flow with enable our of north a the portfolio things these $XXX have invest free will sheet balance

the as XXX(a) well in as the would invest both in to continue expect So capabilities we to the XXX(b).

amount With be significantly fact a have can operations, operations are XXX(b)s is party. The reality for the respect XXX(a)s do numerous believe both to efficient we that that than third more the substantial of efficiency across will given efficient we a XXX(a)s that more the efficiency. than years, different generally utilizing drive we two

greater and quarters? So we for that subspecialty see the economics substantial within coming in opportunity efficiency

manufacturer into liraglutide, the generic API that a then injectable? And is of to go a NDA of an identification versus that And have does submission?

across many the of FDA, through of pretty supply open a source independent FDA, offer the of this treatments, chain authentication numbers to testing question. times, to a great that is also Similar the all the with beyond medications that and set DMS the of platform certificate and what APIs safety authentication, through protocols of on Eric, extensive is and of that and batch the goes patients. we goes all is absolutely the we with necessary from We just but in-house third-party that kind the above these clinically comfortable. do standpoint our get both team of

looking similar comes I particular, about liraglutide, will obesity think treatment, exact market. many. of really XX% known. medication in So think to to weight how excited It's and utilized value increasingly type you're that standards the will But when And month, we've that it available. affordability something that customers we something the it. and patients think to The be bringing really oral is medication and we're to And same because it comes for loss pretty to stack. that about same profile for bring when $XX are excited to just of it safety our the that when is across it we process really seeing per achievable comes to that for medications, protocols we're value is same where be offering

Ryan comes of MacDonald the with line question next from Your Needham.

really start despite the to sort to seems of weight Can platform. business sort to now like being would Congrats helpful. to and customers sort the you continues color aware of it funnel looking oral coming be on of on and there really option for well in, of GLP-Xs perform option? you're the in of about or customers the of out, demand? driving a just the Is and the made and talk the of your versus it any loss GLP-Xs availability sort oral what's some great Just quarter. effectively how Maybe GLP-Xs able patients route top oral educated

heard In and clinical Thanks, great and It's offer see to Ryan. looking to as needs. where for they've preferences, patients wide a question. platform be help range identify many services could what of by. something related It I treatments like bit Switzerland, little we excited a we That right try a could is think ways, ourselves they're or them. to a related of personal something be

really speak, there's people Horse, in. to medication So bring Trojan one where so no, to we're leveraging

option treatment incredibly an is as the oral obesity robust business The within we've shared business.

that's special. the quarter, the a to approach we launched the your As doing we last understand fastest driving is It's shared doing hyper-personalization really see factors medication ever which weight mass is oral also the market, is is to on something gain. accessible specialty have underlying to very that rarely alone. what platform And something

resistance, metabolic insulin be binge could this So disorder, dynamics symptoms. eating, depressive and

we've that's very, for Primack, scale expertise that at years. X% Management, a specialist available price of only XX Craig that a is the And point X% SVP in of our for Dr. has been this the or brought Weight masses to achievable. the And lot very to

preferences was have GLP-X $XX the different So injectable month. loss gold I clinical and only a of that different for of think delivering is saying, standard treatment I XX% weight is, This weekly needs. people per different as an

think So incredible attracting naturally just which value, consumers. is I

versus there's profiles oral in safety think, that there's formats very these I and side for to business also, fact effects different known widely have is are studied think the lot of a in I decades. comfort the treatments people. the injectable The medication, also appealing fact an chews oral and been around that

come. regardless So weight GLP-Xs and large we expect of to composition to of the business that business be oral and everything liraglutide a

color the a as follow-up. Maybe Appreciate there, all Andrew.

offering a continue to You mentioned, the business supply obviously branded is how future. in options. number obviously, of going being, way becomes to the the evolve as options available of One

cash insurance? and Or of term taking we to getting As reimbursed investments out the sort on would options is base of start you of any you're in making, infrastructure expect the contemplation you think sort the about even side? about incremental continuing for the as sort there offer building branded the near

Yes. question, Ryan. Great

of now, has simplicity for straightforward I pay patients. been think cash the the relatively right side

brand without the more high-end actual As (sic) very, branded quarter-over-quarter Almost very coverage the see extremely dropping plans in of even obesity you and [ it medication name last getting when nobody low. weeks. coverage most ] know, the and comes coverage couple to are more for is

the of cash-pay think, market I approach. is our simplicity, the probably So

again, choice. platform We bring will to is choice to because, try the more options branded do continue consumers to that and love king

the that more personalized and treatment and offer that said, of some effective liraglutide prepared at really in to in market. oral and accessible GLP-Xs of treatment think treatments, economic with by of semaglutides really that are brackets that like mass care. that now shared the Americans And the really, we're codes we're ZIP thousands struggled something the as is excited we treating I remarks, with But hundreds the in

we're really really a part about. business altruistic so think of increasingly And spirited becoming that I it's the excited

line Aaron comes from of Your next with Kessler question the Research. Seaport

couple A of questions.

update think in the can sub CMO Hers, Just just Dr. with verticals category. help some categories as of of of us Hers quarter joining well. new kind verticals within hair within for an through on kind the some potential those you as the And Shepherd of us of sub traditional -- the of performance new terms provide been within and of including sexual health, dermatology, you've just maybe the maybe of kind just

Thanks, Aaron. Yes.

business, health, the of mental as Hers obesity. health, quite side Shepherd metabolic new an we're mentioned, business, you of it's as growing, aggregate the on dermatology, diversified and house, fastest It's The business So across the Dr. by right? we incredible dramatically excited shared, really is the joining. part

diversity So of actually driving an that. place taking that's incredible amount

of categories Shepherd in categories is spoken that impacts and kind we've all bringing age. the combination the might moves Dr. women that as about Dr. for team related the towards of as XXX(b) expert past that perimenopause, California, these for which are well the as therapy and as that, on Shepherd that of I made, such the hormonal have they menopause, sterile such an think injectables leads in as Medisource onto we've allows

Same thing on the men's side of the business.

wanting We customers that have expect in that years out something business and be something to our the rolling couple for some is really of next been time. that

a verticals that's the come. color bit of new kind to So on maybe little of

With business. our the as core, excluding was subscribers, year-over-year regard growth in GLP-X percent to XX-plus the shared, there Yemi

So is the very core growing robustly.

core, now seeing market really personalization clinical of these the obviously, and add I kind opportunity. when demand You're you across opting more it's exciting is think all-time the we with in, all across even an retention which of customer contributor, personalization, which has stickiness, the new highs XX% which options adherence, for of think a of customers mass scale adoption exciting of been categories of excellence, is XX%, the obesity bringing level

combination those driving a it's of this factors So that are all of growth.

The Kim Cowen. next TD of the line from with question Jonna comes

lower think your pricing creating you will to plan overall? about around you And that side, also, about the you more on as in thinking weight pricing you As loss you XXXX? to price specialty do platform, are as structure lower be able your the well? how And on any focused efficiency

the question. so thanks for Jonna, Yes, much

to that we through consumers. as pass look unlock what for best I do think constantly the efficiency as gains vehicles to we we

out like to per for that low you're in month conditions. and Some the of some rollout roll treatments the products multi-condition seeing of sex newer of for as we $XX this the hair, where were able both in as

creative back test price beyond expand do by we additional pass the we efficiencies, capabilities we additional to unlock can consumers. opportunities have platform the some numerous as also see very we as we technological that a as price specialties. the that lever. to of and We're But value think across I will definitely excited

And GLP-X mentioned it. that of the have. other your one is offerings follow-up, that grow strategy sort users of you just also What you platform? further cross-selling Got are to using

the we into do a treatments. largely it's been across as organically have see date, opting To what users we Yes. are organic. of wide Like breadth that multiple platform, specialties is

today. aggregate. be But for the moving users look that of bundles select can often it points aware to in subscriber easier friction will is to XXXX, through think what that we make we're As largely focus do we growth multiple continued I into

largely, the next be we over organic. go or to would two so in number up. But time quarter And will expect mainly that

Securities. question next of comes Singh with from line Truist Jailendra Your the

Congrats the quarter. like seems other I driven on there. quarter. XX understand quarter? color around the It GLP-X the contribution contribution trying the how said strong additional provide was AOV is to GLP-X contribution in quarter. tailwinds up the any back to trying revenue XX,XXX quarter. Basically, to to subscriber by in the there in related strong was sequentially XX,XXX frame you us count like the much million understand in go pretty the XQ, want Is versus to and GLP-X in just growth to can You

think a few I that kind and I take can of Yes, questions.

the from accelerating So see do I largely see we GLP-X think the growth. said, core. growth that That we coming subscriber

that out of was of GLP-Xs to a a across the result states. fact started broader of roll Some we that number

see aware that more become we consumers of expand adoption as accelerating capabilities platform. we Additionally, the and on the increasing GLP-X offer capabilities, and we those do

revenue ballpark what think the rough on contribution the of monthly looking per count at of I you math subscriber kind within GLP-X like. average the looks and just average the doing of subscriber get the can the approximation

getting comfortable you XX% the XX%, seeing And months? trying for like the GLP-X Okay. of higher the duration? for the subscription of you same comment XX duration treatment people you only in their opting canceled about Are signing the customers Of back for Are earlier duration made X, month. are to going seeing the in I seeing here. remaining Just them understand first renewing mix then X, subscription? to the

Yes.

the we specialties, of user. our other in do what cycle really is see the think of early a most come like on hurdle, given I think life cancellations I the

for a is X-month that. kind in expect particularly in seeing months. of we we're ballpark respect we the to GLP-Xs, see user, to weight, that of do of mentioned starts question milestone, As becomes what or generally the the and a sticky medication overall that platform you would a like duration XX-week cross the earlier, X With duration

to enjoying, enjoying partners providers having mentioned to and them that performance walk consumers just is they're what platform loss some the strong that our Andrew is for. through such that resulting transparency care, through strong really as to results. get effects result, that earlier, that as we're duration how effective really bringing, are typical -- nausea, on a is how providers And muscle in or a act And up consumers manage seeing very testament side the as and walking are signing consumers

the questions conclude that gentlemen, conference that's call. we had your all for you disconnect. And may does And today's time ladies Thank and today. for and you now participation,