Hims & Hers Health (HIMS) Morgan Stanley Technology, Media & Telecom Conference 2026 summary

Strategic evolution and vision

• Initial focus was on making treatment for stigmatized conditions accessible and raising consumer awareness, evolving to include personalized treatments and broader capabilities.

• Significant investments in technology and CapEx enabled rapid expansion into new specialties and improved operational efficiency.

• Leveraging data and insights from over 2.5 million subscribers to enhance personalized care and outcomes.

• Future strategy emphasizes deepening personalization, leveraging technology, expanding partnerships, and international growth.

• Vision is to become the default brand for health and wellness within three to five years.

Growth initiatives and market expansion

• Expanded into multi-condition offerings and launched three complex specialties in six months, including low testosterone, menopausal support, and diagnostics.

• Acquisitions like YourBio Health and Eucalyptus support diagnostics and international expansion.

• Each new specialty is expected to reach a $100 million+ run rate, with ambitious targets of $6.5 billion revenue and $1.3 billion EBITDA by 2030.

• International strategy is driven by strong domestic cash flow, successful acquisitions, and market learnings, aiming for at least $1 billion in international revenue in the next few years.

• International markets are expected to follow a similar margin expansion curve as the U.S., supported by operational expertise and capital allocation.

Marketing, brand, and consumer engagement

• Shifted to broader brand education, resulting in a 7-point year-over-year improvement in marketing efficiency.

• Investments in brand and proactive health education are expected to yield long-term efficiency gains.

• Super Bowl ad and other campaigns have driven increased traffic and engagement.

• Cross-sell opportunities and diagnostics are expected to further improve marketing efficiency and consumer retention.