BIG NUMBER
2.6 million. That’s how many people subscribe to Him & Hers for personal health, skin care, hair loss treatments and weight-loss management, according to the company’s first quarter results, up 9% year-over-year.
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Key background
Hims & Hers Health operates as a subscriber-based telehealth platform offering prescription and wellness products, and has been closely watched as a major player in the market for compounded GLP-1 weight-loss medications. The company has faced scrutiny over its marketing and prescribing practices as regulators have intensified oversight of telehealth providers. The lawsuit could become one of the most significant consumer-protection cases in the telehealth space and could decide how online healthcare companies design patient intake forms, subscription billing, cancellation flows and advertising technology going forward.
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What to watch for
Hims & Hers’ next earnings report is scheduled for Aug. 10.
TANGENT
Much of Hims & Hers marketing strategy centers on celebrity endorsement and influencer marketing. The company has partnered several high-profile celebrities as brand ambassadors and creative partners over the years, including Kristen Bell, Rob Gronkowski, Miley Cyrus and Alex Rodriguez. The FTC complaint notes that Hims has relied heavily on paid social media influencers, particularly on YouTube, and that some of those influencers described Hims’ services as “discreet,” reinforcing the company’s privacy-focused marketing.
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