Hims House

In Episode 27 of Hims House, Jonathan Stern, Patrick Lester, and Louis Stevens discuss the blockbuster news of Hims partnering with Novo Nordisk to sell branded GLP-1 medication Wegovy for $599 a month. They delve into the deal terms, initial market reaction, and the potential long-term impacts on Hims as the direct-to-consumer telehealth leader. The conversation also touches on the possibility of future partnerships, notably with Eli Lilly, and how Hims' business model and profit margins might evolve.00:00 Introduction01:46 Patrick's Perspective on the Deal08:09 Louis' Return and Reflections09:58 Comparing Hims to Netflix and Long-term Prospects15:46 Impact on Bear Thesis and Revenue Projections21:12 Understanding Hims as an AI-Orchestrated General Physician27:01 Wall Street's Obsession with GLP-1s31:30 Margin Impact of the Novo Deal40:01 Future Partnerships and 2025 OutlookDisclaimer: This podcast is for informational and entertainment purposes only. Nothing discussed should be considered financial, investment, or legal advice. Always consult with a qualified professional before making financial decisions Get full access to Hims House at himshouse.substack.com/subscribe

In this episode of Hims House, Jonathan Stern and Patrick Lester sit down with Martin Shkreli — one of the sharpest and most controversial voices in healthcare. They break down what’s driving Hims’ explosive revenue growth and why the company remains so widely misunderstood. The conversation covers the “Netflix of Healthcare” analogy, GLP-1 compounding and IP risk, and questions around long-term sustainability. Shkreli also breaks down the stock dynamics behind Hims’ unusually high short interest, how hedge funds and quants are positioned, and what the holder list — including Citadel, Farallon, and Renaissance — reveals about how the smartest players on Wall Street are positioned. The episode closes on valuation, scale, and why management execution is likely to be the single most important factor in how the Hims story plays out.00:00 Introduction04:00 The Netflix of Healthcare05:52 Positive Second Derivative Revenue Growth07:33 Founder-Led Companies09:13 Comparing Hims to Google15:30: The Importance of Management20:15 Hims As Big As UnitedHealthcare?24:50 GLP-1s and Hims25:45 Why Big Stock Price Swings are Bullish27:30 The Rise of Eli Lilly and GLP-1s34:55 Ozempic Growth and Patent Challenges36:01 The Complexities of Pharma Patents44:50 Would Novo Sue Hims?45:40 Hims, AI, and the Future of Healthcare Platforms50:30 It's Time for a Healthcare Social Platform55:19 The Debate on OTC Drugs and Healthcare Access58:00 Stock Dynamics: Short Interest, Institutional Ownership, Retail Interest01:06:06 Addressing the Top Bear Arguments01:08:29 Insider Sales01:13:24 Top Institutional Holders: Citadel, Farallon, Renaissance, and More01:25:03 Hims ValuationDisclaimer: This podcast is for informational and entertainment purposes only. Nothing discussed should be considered financial, investment, or legal advice. Always consult with a qualified professional before making financial decisions. Get full access to Hims House at himshouse.substack.com/subscribe

Raul Shah, the owner of DocShah Financial, discusses his investment insights into Hims & Hers, drawing lessons from Christopher Mayer's book on 100-baggers. He addresses key bear theses, including customer acquisition costs and legal risks, while emphasizing the need for a Chief Technology Officer to drive AI advancements. Raul shares his long-term outlook on Hims, highlighting the difference between stock price and true valuation, and offers a mix of optimism for the company’s future and humorous anecdotes about investor celebrations.

In this episode of Hims House, Jonathan Stern and Patrick Lester are joined by Alex Beinfield, founder & CIO of Blue Duck Capital, for a wide-ranging conversation on markets, healthcare, and the future of HIMS. They kick off by unpacking the market implications of Trump’s tariffs, with ripple effects for global trade and the pharmaceutical sector. The conversation then turns to HIMS. Alex shares what first got him excited about the company back in 2020, and why he’s still bullish today. He breaks down HIMS’ long-term potential and competitive moats in telehealth—from its DTC strength and brand equity to its mission of solving one of the biggest pain points in modern life. They also discuss how shifts in healthcare policy — the “Make America Healthy Again” agenda — could shape the company’s path forward.01:22 Tariff Turmoil02:32 Market Reactions and Predictions08:05 Impact on Hims and the Pharmaceutical Industry12:43 Blue Duck Capital's Unique Approach19:00 Alex's Investment Journey with Hims24:03 The Pain Points in Healthcare24:40 Reinitiating a Position in Hims25:37 The Impact of RFK Jr. on Healthcare Policy28:25 Hims' Growth and Market Position29:34 Regulatory Environment Under the New Administration33:58 Hims' Competitive Moats41:12 GLP-1 and the Bigger Picture45:44 Valuation and Price Targets Get full access to Hims House at himshouse.substack.com/subscribe

Andrew Dudum, Founder and CEO of Hims & Hers, shares his insights on the rapid growth of his healthcare company, emphasizing the importance of consumer rights and navigating regulatory landscapes. He discusses the evolving market for GLP-1 medications and how Hims utilizes macroeconomic challenges to enhance its competitive edge. Dudum draws fascinating parallels between Hims and giants like Netflix and Amazon. He also shares a heartwarming story about his family's donut shop, George's Donuts and Merriment, in honor of his grandfather.

The FDA's resolution of the semaglutide shortage has sent stock prices soaring. The discussion dives into investment strategies, contrasting short-term excitement with long-term implications for traders. The team's insights on HIMS' recent acquisitions hint at innovative advances in peptide therapy. They also examine the impacts of FDA policies on GLP-1 sales and what to expect from the upcoming earnings report, focusing on patient care and personalized medication strategies. It's a blend of market dynamics and healthcare innovation!

In this episode of Hims House, Jonathan Stern, Louis Stevens, and Dr. H discuss the recent Super Bowl ad for Hims and its widespread media attention. They explore the varied public reception of the ad, its impact on healthcare perceptions, and the spike in app rankings. The episode delves into the growth trajectories of the Hims and Hers brands and scrutinizes the ramifications of the hot CPI report on the financial market. The panel also addresses the stock's peak performance amid high short interest and institutional ownership dynamics, providing a detailed analysis of market reactions and future expectations.00:20 Superbowl Ad Impact03:20 Hers App Success10:02 CPI and Market Analysis19:57 Short Interest and Market Dynamics27:59 Upcoming Catalysts Get full access to Hims House at himshouse.substack.com/subscribe

The discussion kicks off with HIMS' bold strategy of airing a Super Bowl ad, exploring its potential for brand recognition and public perception. The hosts dissect the staggering short interest hovering around 30% and its implications for a possible short squeeze. They draw parallels to the GameStop phenomenon while speculating on the introduction of a testosterone therapy product, discussing its impact on customer retention and market competitiveness. Expect intriguing insights on marketing dynamics and the ever-evolving landscape of healthcare branding!

A former Wall Street analyst breaks down the evolution of Hims & Hers into a consumer-centric healthcare provider. The discussion dives into the impact of recent financial reports and credit card data on the company's revenue forecasts. They explore the complexities of U.S. healthcare, consumer behavior, and the emerging role of AI in healthcare. Predictions for the future of diabetes care and weight loss add intrigue, alongside challenges faced by traditional healthcare models. Unique insights shed light on the potential for international expansion.

In this episode of Hims House, Jonathan Stern, Louis Stevens, and Dr. H are joined by Bayside, a professional lobbyist in Washington D.C., to discuss the upcoming Trump administration and its potential impact on Hims, particularly concerning the semaglutide shortage. Bayside provides a detailed analysis of the semaglutide and tirzepatide shortages, FDA decisions, and political landscape affecting HIMS investors. The discussion expands to consider the potential influence of Elon Musk and Trump on healthcare policy, Greenland acquisition implications, and the roles of RFK and Marty Makary in shaping future healthcare regulations. Dr. H offers insights into the medical necessity of compounded medications and telehealth implications.00:00 Introduction01:05 Semaglutide Shortage Analysis02:48 FDA Decision Timeline06:44 Impact of New Administration10:34 HIMS Sales Strategy Post-Shortage14:29 Legal and Medical Perspectives28:57 Custom Dosage and Medical Necessity29:46 Corporate Practice of Medicine30:28 Patent System and Compounding Controversy31:30 Chevron Doctrine and Legal Battles32:08 Impact on HIMS Stock and Lawsuits34:59 Future of Compounding and Revenue36:58 Elon Musk, Trump, and GLP-1 Pricing42:02 Greenland and Geopolitical Leverage46:46 RFK and Marty McCary's Impact on Healthcare57:46 Conclusion and Future Topics Get full access to Hims House at himshouse.substack.com/subscribe