Hims & Hers Health (HIMS) Canaccord Genuity 44th Annual Growth Conference & Private Company Showcase 2024 summary

Strategic priorities and platform overview

• Focus on leveraging technology to increase convenience, transparency, affordability, and personalization in healthcare, spanning mental health, sexual health, dermatology, and weight management.

• Platform enables rapid access to providers and personalized treatments, driving consistent user growth.

• Operational efficiencies and vertical integration, including in-house EMR and pharmacy acquisitions, support innovation and cost control.

• High emotional resonance of treated conditions and broad demographic reach contribute to platform resiliency in various macro environments.

• Affordability and convenience are competitive advantages, with pricing often matching or beating traditional care settings.

Personalization and product innovation

• Consumer feedback drives development of new form factors and multi-condition treatments, such as combining men's sexual health and hair loss solutions.

• Over 40% of users now choose personalized solutions, up from less than 15% two years ago.

• Verticalized pharmacy operations enable mass market pricing and value-added services, including loyalty programs and bundled offerings.

• Recent launches include weight management offerings starting at $79 for orals and $199 for injectables.

GLP-1 treatments and future outlook

• GLP-1s have driven significant user growth and awareness, positioning weight management as a medical condition.

• Platform's ability to personalize dosages and offer a breadth of options is expected to sustain growth post-GLP-1 shortage.

• Acquisition of a 503B facility will enable expansion into new specialties and further operational efficiencies.

• Gross margins improved by 10 points from Q4 2021 to Q4 2023 due to operational optimization and verticalization.