Hims Secures Drug Supply for Thriving Weight Loss Business

Revenue Growth:
Hims & Hers Health Inc. reported second-quarter sales of $315.6 million, exceeding Wall Street's expectations of $301.3 million.

Forecast Increase:
The company raised its 2024 revenue forecast to $1.37 billion to $1.4 billion, up from the previous range of $1.2 billion to $1.23 billion.

Subscriber Milestone:
Hims signed up 100,000 subscribers, generating $100 million in annual recurring revenue (ARR).

Pharmacy Acquisition:
Hims plans to acquire a 503B pharmacy to ensure a steady supply of weight loss drugs, including compounded GLP-1.

CEO Assurance:
Hims CEO Andrew Dudum reassured investors about the company's ability to maintain drug supply despite potential shortages.

Market Confidence:
Despite signs of easing GLP-1 shortages, Hims remains committed to providing compounded weight loss shots.