Key Takeaways
- Hims & Hers has engaged 800,000 users in its weight loss programme by the second quarter of 2025, signalling significant market penetration.
- The programme demonstrates strong efficacy, with users achieving an average 10.5% weight loss on oral medications and 12.2% on GLP-1 therapies over 12 months.
- Data suggests superior user adherence, with a 25% discontinuation rate at six months, far below the 80% typical for branded GLP-1s in traditional healthcare settings.
- Strong user growth and efficacy metrics underpin prior revenue guidance of over $750 million from weight loss in 2025, though regulatory risks for compounded drugs remain a headwind.
Newly released metrics on user participation in Hims & Hers Health’s weight loss programme underscore a significant scale-up, with 800,000 individuals having engaged by the second quarter of 2025. This volume not only highlights the platform’s rapid adoption in a competitive telehealth landscape but also points to sustained demand for accessible weight management solutions amid broader market enthusiasm for GLP-1 therapies.
Scaling User Base and Its Revenue Implications
The enrolment of 800,000 participants in the weight loss plan by mid-2025 reflects a deliberate push into personalised health offerings, particularly as telehealth providers vie for share in the burgeoning obesity treatment sector. This figure, representing a substantial cohort, suggests Hims & Hers has effectively capitalised on digital accessibility to draw in users seeking alternatives to traditional clinic-based care. Analysts have noted that such user growth could translate into recurring revenue streams, especially if retention rates hold steady against industry benchmarks where dropout often exceeds 50% within the first year.
Expanding on this, the data implies a potential for layered monetisation. With oral medications achieving an average 10.5% body weight reduction, and GLP-1 options delivering 12.2% at the 12-month mark, these outcomes could bolster subscriber loyalty. Historical comparisons reveal that earlier quarters saw Hims & Hers guiding for over $750 million in weight loss revenue for 2025, predominantly from oral and liraglutide products. If the current user base sustains, this could amplify those projections, potentially pushing total revenue growth beyond the 53% year-on-year increase anticipated excluding GLP-1 contributions.
Efficacy Metrics in Context: Oral vs. GLP-1 Performance
The reported 10.5% average weight loss via oral medications positions the Hims & Hers programme as a viable entry-level option, appealing to cost-conscious consumers wary of injectable therapies. This metric aligns with clinical expectations for non-GLP-1 orals. Yet, it is the 12.2% reduction at 12 months for GLP-1 users that stands out, surpassing some real-world averages for compounded semaglutide variants.
| Metric | Hims & Hers Programme | Industry Benchmark |
|---|---|---|
| Average Weight Loss (GLP-1s, 12 months) | 12.2% | ~10-12% (real-world) |
| Average Weight Loss (Orals) | 10.5% | 5-15% |
| Discontinuation Rate (6 months) | 25% | ~80% (branded GLP-1s) |
Such results could mitigate concerns over adherence, a perennial issue in weight loss regimens. Internal analyses from Hims & Hers indicate that personalised plans reduce side effects and improve retention. This efficacy edge might explain the platform’s ability to attract 800,000 users, fostering a flywheel effect where positive outcomes drive word-of-mouth referrals and lower customer acquisition costs.
Market Sentiment and Competitive Positioning
Investor sentiment around these metrics appears cautiously optimistic, with some accounts labelling the data a “strong validation” of the digital-first model. Analysts have expressed bullish views, citing the potential for Hims & Hers to capture a larger slice of the GLP-1 market, which is projected to exceed $100 billion globally by 2030. This contrasts with more tempered takes that highlight regulatory risks around compounded medications, though the user scale is seen as a defensive moat.
Comparatively, the 12.2% GLP-1 weight loss figure edges out some peers. Hims & Hers’ advantage may lie in its holistic approach—combining medication with app-based coaching—which the data suggests enhances outcomes. This could differentiate it from pure-play pharmaceutical giants, whose supply constraints have opened doors for telehealth disruptors.
Broader Implications for Valuation and Growth Trajectory
With the stock closing at $62.55 on 3 August 2025, down 5.48% from the previous session amid broader market volatility, these metrics arrive just ahead of the company’s next earnings release. The high trading volume suggests heightened interest in updates on weight loss metrics.
| Metric | Value (as of 3 August 2025) |
|---|---|
| Closing Share Price | $62.55 |
| 52-Week Range | $13.47 – $72.98 |
| EPS (Trailing 12 Months) | $0.68 |
| Forward EPS (Estimate) | $0.46 |
| P/E Ratio (Current Year) | ~60x |
Looking backward, Q2 2024 filings showed subscriber growth accelerating 40% year-on-year, a trend that the 800,000-user milestone extends into 2025. If these efficacy rates persist, analysts project weight loss to contribute over 30% of total revenue by year-end. However, risks linger: pricing adjustments could compress margins if not offset by volume. Still, the data’s implication of durable user engagement positions Hims & Hers to weather competitive pressures.
In a market where weight loss solutions are as much about lifestyle integration as pharmacology, these figures hint at a compounding advantage. The results not only validate the programme’s clinical backbone but also suggest scalability that could underpin mid-teens EBITDA margins, as guided in prior quarters. Investors eyeing the upcoming earnings might find in this data a prelude to reaffirmed guidance.
Potential Headwinds and Strategic Outlook
Yet, the narrative is not without caveats. The 800,000-user base, while impressive, must contend with evolving FDA scrutiny on compounded GLP-1s, which has historically introduced volatility. Sentiment from market analysis warns of potential supply chain disruptions, though the company’s pivot to orals diversifies this risk. Forward-looking models estimate 2026 revenue at $2.5 billion if GLP-1 adoption mirrors current trajectories, but this hinges on maintaining efficacy without escalating side effects.
Ultimately, these metrics illuminate Hims & Hers’ bet on democratised access. By the second quarter of 2025, the programme’s reach and results could redefine telehealth’s role in chronic care, provided execution matches the promise. As the sector matures, this data serves as a benchmark for what personalised plans can achieve, potentially pressuring incumbents to innovate or collaborate.
References
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