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

Platform evolution and consumer experience

• Focused on removing friction and stigma in healthcare by leveraging technology for awareness and accessibility.

• Built a proprietary EMR system to connect patients and providers, enhancing convenience and personalization.

• Over 55% of subscribers now use personalized products, up from less than 20% two years ago.

• Transparent subscription pricing model covers medication, provider access, and follow-up care.

• HSA support for weight management was introduced, with plans to expand value-added services.

Growth drivers and category expansion

• Growth in core specialties like men's dermatology remains robust, with 55% year-over-year growth.

• Learnings from established categories are applied to new ones, driving triple-digit growth in newer specialties.

• Mental health and weight loss categories benefit from structured data and personalized treatment tools like MedMatch.

• Weight loss offerings include oral medications and GLP-1s, with a $100M revenue run rate achieved in seven months.

• Plans to introduce one to two new categories per year, focusing on chronic, top-of-mind conditions like low testosterone and menopausal support.

Technology, verticalization, and data

• Vertical integration includes in-house EMR, affiliated pharmacies, and a new peptide facility to enhance control and speed of innovation.

• AI and data are used to match users with effective treatments and provide proactive, personalized health insights.

• At-home lab diagnostics will deepen personalization and reduce friction for users.

• Platform investments aim to expand from hundreds to thousands of SKUs, increasing personalization and user engagement.