HIMS

"So, you add all of that up and you look at a company trading for three and a half times sales. I think that is an absolute steal."

"If Hims and Hers is able to become the global platform for healthcare, that is where this isn't just a 7.9 billion company. This is a trillion dollar plus company."

"Hims and Hers is the company revolutionizing healthcare and that's presenting a 10x, maybe even 100x opportunity for investors."

"including him and hers, my biggest position in that portfolio, showing you exactly what I'm buying every single month."

"And if you come in for ED or you come in for weight loss, you find out, you know what, there's some dermatology solutions that may work for me. Mental health, hormones, labs, these specializations are expanding."

"The third one is my biggest holding. This is Hims and Hers. Hims and Hers is one company that I think is going to be a household name in the medical industry come five even 10 years from now."

"But look, the enterprise value under $5 billion right now. Price earnings multiple on a forward basis is seven. Seven for a company that's growing still in the mid- teens. Price to free cash flow is about five. They're buying back stock. They're acquiring companies to expand their business internationally. Love the value play for Lyft. But I own both of these in a basket in the Ace Metro portfolio because I think owning both of them just gives you exposure to both the leader in the industry whic"

"This is early on in [314s] these days. But this is all a land grab. [316s] That's exactly what Hims and Hers is [317s] doing."

"This was the [220s] way that I think of him and hers is that [222s] this is an aggregator in healthcare."

"Remember, this was [89s] kind of the dark days for Hims and Hers [91s] when the stock was dropping like a rock."

"The stock [629s] starting to come back a little bit. But if we do see a [632s] growth rate of 40 50% which we probably [636s] will later this year with eucalyptus now [638s] on board that is going to be a big deal [639s] for the stock."

"What hims and hers would [163s] do is they would say if this is the [164s] number of subscribers that we have on [165s] the platform."

"This morning, HMS and Hers announced [1s] that they've officially closed the [2s] acquisition of Eucalyptus."

"My name's Travis Hoyam. Thanks [51s] for watching Asymmetric Investing. And [52s] if you want more from me, including the [54s] stocks that I'm buying each month, check [56s] out Asymmetric Investing, my newsletter."

"When I bought HIMS in 2023, it was within six months of profitability."

"If you followed [325s] this channel for a while, you know that [326s] him and hers is also one of my favorite [328s] stocks. And I wanted to highlight it [329s] here because we're starting to get some [331s] data about the second quarter and what [333s] the momentum is in the business. And [334s] this is both credit card data and then [336s] also app download data."

"I think what management is telling us is they want a little bit more cushion to be able to make these moves."

"So, I'm not a huge fan of convertible debt offerings in general. I know that this is something in particular tech companies really like because it's potentially less diluted than just selling your stock, but I don't love having this debt on the balance sheet because if things don't go well, it can be a real hindrance to the business because it can be a downward spiral for a business."

"The volatility for Hims & Hers stock continued over the past week."

"As I'm recording, stock's trading for a little over $22 per share."

"I'm not going to dig too much into Hims & Hers, but if you follow this channel, you know this is one of my favorite stocks just because it has the kind of optionality that I like, asymmetric investing."

"So the seven stocks that we went over today, Uber and Lyft on holding, Alphabet, Hims & Hers, Duolingo and Zeta Global."

"Uber and Lyft, on holding Alphabet, Hims & Hers, Duolingo, and Zeta Global. There's a little bit of AI sprinkled in there, but there's a value AI as opposed to the companies that are really, really hyped by the market today."

"Hims and Hers is one of my biggest positions there."

"I think this is the long-term goal for HS and Hurst."

"And I think him and hers is heading in the right direction."

"So now again when you go to the numbers for the quarter revenue growth not all that great because we got not only a tough comp from the first quarter of 2025 we also don't have the impact of that Nova Nordisk agreement quite yet."

"Shares of Hims and Hers are down 14% in early trading on Tuesday after the company reported earnings after the market closed yesterday."

"So if you are a long-term investor, him and hers is doing the right things."

"This for a company that has grown revenue at a compound annual growth rate of 40% over the past 3 years."

"Him stock, whole different industry now at this point in time, right? Talking about teleaalth, this stock's down 47% over the past year."

"I believe the stock is undervalued. I think it should trade at at least three to five times sales, especially three to five times 2030 sales. So, I think the stock is undervalued. I think one times sales is ridiculous. I think over time it should trade at five to seven times sales, especially as the NVO partnership expands and they can offer more benefits to those people in the Hims health membership as lab expands in general."

"So, to me that's a good proposition and you're getting all of this at about two and a half times sales for a company that does not have any more, you could say, friction with MVO. They're not fighting big pharma, they're actually partnering up with big pharma. So, that was a major concern that's gone. Yet, Hims is still trading lower than what it was like in April at two and a at 2.4 times sales."

"So, I believe the stock is undervalued, and I believe the report was okay. And that was my opinion on Hims."

"Q2 is going to grow 25 to 28%. Not not declining for. They guided 25 to 28% growth in Q2."

"Hims just reported earnings. The stock is down 10% in the after hours, as always, cuz if you've been following Hims on a good day, it goes down 10%. On a bad day, it goes down 20%. It's been really bad."

"Well, their guidance is 7% for Q2 and overall fiscal year 2026, it's going to end up at about 11%, which is where it was on average. It was 11 to 13%. It's going to get back to 11% for the full year as the company starts to reap the benefits of the NVO partnership because the $150 membership fee is really high margin for Hims & Hers Health."

"4%? That's That's really, really bad. But, it gets even worse. If you look at the United States revenues, it declined 8%."

"But, I still believe investors are missing the overall picture. And this is mainly the fact that Hims has stopped compounding those GLP-1s and stopped selling those pills that allows a high margin stocks that they were selling, they stopped doing it in February, March."

"Hims is expected to to grow about 25 to 28% in the quarter and end the year with 19 to 28% growth. That looks much better to me and we're getting all of that now with again the international markets."

"So, yes, the report wasn't the best. I'm not going to lie to you. Them declining in the United States was not good at all. And it wasn't the best report I can imagine. But, I don't think it was as bad as a lot of us were expecting. Like, Hims House was expecting them to miss. They didn't miss, and they raised guidance, you know. So, to me, it looks good. Not not not ideal, but it's looking better, and the picture is looking clearer."

"Now, in the first 6 weeks of launch, Hims sold 125,000 orders."

"My name is Travis Williams. Thanks for watching Asymmetric Investing. And if you want more from me, check out Asymmetric Investing. My newsletter is a link on the screen and a link in the show notes. I also want to tell you about this video sponsor, Fiscal AI. I'm going to actually be in Fiscal AI throughout this video. And the reason is this is the best place to do all of your fundamental research. And here's the amazing thing. It's less than 20 minutes after the numbers came out from Hims and "

"I think this is one of the things that if you're looking at him and hers as a platform company, as a company that can can grow for many, many years to come, this is what you want to see is just more and more products, more modalities that they're going to be selling into. And that's how you get this strong growth rate."

"If you are a long-term investor, I think you look at these results and you see a lot of things moving in the right direction"

"The first quarter of 2025 was the last quarter that HIMS and hers could compound GLP1s legally. They were still under exemption at that point. So, we weren't in this kind of gray area that we were for the rest of 2025. So, want to have that little bit of context because when you see 4% growth year-over-year, you might go, "Oh my gosh, this company is not growing at all. What is going on?" This will make a little bit more sense as we go to things like guidance, but this will pick up in the second"

"I like that we saw the increase in guidance because if things weren't looking good, that wasn't going to change. But with the Nova Nordisk lawsuit behind us with those branded products now on the platform with potential tailwinds from peptides later this year or into 2027, I think Kim and Hers is still well positioned."

"This was actually increased hundred million dollars from just a quarter ago so now expecting $2.8 billion worth of revenue to $3 billion worth of revenue adjusted IBITA."

"I think that plays out in the guidance but you kind of have to squint to find that in the numbers."

"You're getting towards they typically sand sandbag these numbers a little bit. So, you're looking at potentially 25 to 30% growth is kind of where I would put the bar for 2026. That may be a little bit disappointing if you were a shareholder a year or two ago, but 30% growth is going to be 10x over the next 10 years. I mean, that's over 10x at that growth rate. So, that's a really, really good growth rate if you can sustain it long term."

"Management also said they are on track for hitting this long-term 2030 target of $6.5 billion worth of revenue, $1.3 billion worth of adjusted IBITA. If they can do that, this will be a phenomenal investment long-term."

"No question the revenue growth growing from 111% down to 4% is not good and has not been good for the stock. But if this turns in the second half of this year to being a 30 plus% revenue growth company, if these operating margins, by the way, gross margins coming down too, so we might see gross margin pressure as they move to more of these branded products."

"This is one of my biggest positions in the asymmetric portfolio."

"And remember, none of this guidance includes anything from peptides because we don't know what's going to happen with that. Are they going to be legalized in July? Is him and hers going to have a product to actually sell by the end of the year? We don't even know that yet. So, the increase in guidance doesn't include potential tailwinds from peptides, something I know that has gotten a lot of attention in the market recently."

"Hims and Hers does have $751 million worth of cash. There is debt on the balance sheet that was raised uh about a year ago, but there is that cash available to expand the business."

"I think what we're seeing here is him and hers is going to be spending more to grow the company in 2026. They're seeing that long-term opportunity, that long-term payoff for things like GLP1s, for things like labs, but that's going to mean less profitability this year."

"One of the things that I was looking at was what happens to the subscriber number. This was pretty solid. 9% growth year-over-year."

"This is a positive cash flow business. So, operations generated $90 million in cash flow in this most recent quarter."

"And then expanding this to be a global platform. We are starting to see that one of the things was Zava was acquired last year and then Eucalyptus is going to be likely closing in the next few months. So, much more of an international business."

"My long-term thesis with Hims & Hers. My name's Travis Hoyam. Thanks for watching Asymmetric Investing, and if you want more from me, check out my newsletter Asymmetric Investing. There's a link in the screen and a link in the show notes. That's where I'm building a portfolio from zero. One of the biggest positions in that portfolio is Hims & Hers."

"Well, part of that is Hims & Hers is getting into higher value higher price point products. Things like GLP-1s. So, ED treatments, maybe hair loss treatments, those are great if we're getting your foot in the door, but the goal is to move up higher in that value chain."

"Hims & Hers is going to be able to track your health over a long period of time. It's going to be able to pull in information from a smart watch, from a Whoop band. I think that's ultimately the future."

"Hims & Hers as a much bigger technology and healthcare platform than what we thought about the company before. It's going to change their economics, it's going to change their incentives, and it's going to change the way that they interact with customers."

"Now, translate that to Hims & Hers. How can Hims & Hers take kind of a similar model into the business? Well, think about the products that Hims & Hers started with."

"Quietly over the past year, Hims & Hers has changed its entire business model, and this is what really could make the company a 10x or 100x stock over the next 10 to 20 years. This is no longer just a pill dispensary."

"And then you get insights on the Hims & Hers app. So, you say, "You know what? This is something that needs attention. Your biomarkers are telling us that you can improve your cholesterol, your testosterone, all kinds of different things that they're testing with these labs." Some things are in optimal condition, some things fall into this red category. Then Hims & Hers can help create an action plan for you."

"I think this is one of the biggest positions in the Asymmetric portfolio. Let me know what you think about Hims & Hers."

"Then you layer on treatments on top of that. So, we talked about weight loss treatments. But, Hims & Hers has ED, hair loss, testosterone. They're adding more and more things that they're able to help their customers with."

"So, now I'll go back to this key performance indicator data. You're seeing the growth in the revenue per average subscriber. You see a little bit of volatility here. This is when the these products went on shortage and Hims & Hers had to stop some of the compounding they were doing in 2025."

"So, you can see where Hims & Hers is trying to become this information layer. They're pulling in information from labs. They're pulling in the information that you're offering up for your healthcare needs in the Hims & Hers app. I can see in the future pulling information from smartwatches and things like that that are tracking your heart rate, that are tracking your stress level, your sleep."

"So, I think this is the vision. This is the business model change for Hims & Hers. No longer is it spending money on customer acquisition to sell them a prescription pill one time. This is now a much bigger vision. Hims & Hers wants to attract customers who are going to be long-term users of the platform, who are going to track their health through labs."

"So, if you go back here to 2023 and early 2024, Hims & Hers monthly online revenue per average subscriber was $55 $53 bouncing in that mid $50 range. That can be a good business, but it was not a high margin business."

"So, now when you go into Hims & Hers Hers labs, you can just talk to an AI and say, "Hey, here What should I be doing to improve these biomarkers?""

"So, how many subscribers does Hims & Hers have? How much does each of those subscribers spend each month? You can even listen to the latest conference call. Hims & Hers earnings is going to be next week."

"Why does this matter for Hims & Hers and their moat around the business in the future and their financials? First of all, how are people going to interact with Hims & Hers?"

"Uh some of you guys love Hims stock. They were buying that one down in the $4 range seemed like forever."

"I think this is one of the best growth and value stocks out there today."

"I think Hims & Hers has that going into the second half of 2026."

"And now Hims & Hers is selling Novo Nordisk's branded GLP-1 products on the platform starting at $150."

"But the reason Hims & Hers stock is up is because the growth story has returned in 2026."

"And then they announced that the Eli Lilly products, GLP-1 products, are going to be available for customers on Hims & Hers as well."

"So there you have it, the five stocks that I'm excited about in May: Hims & Hers, Lyft, Adobe, Alphabet, and On Holding."

"All right, let's start out with Hims & Hers, definitely a stock that is on my watchlist so that I get all the news for the company."

"Hims couldn't quite get it up. Uh yeah, that one down 5.6%."