Hims & Hers posts $753M in Q2 revenue as it preps for push into peptide market
Digital health and wellness company Hims & Hers is ready to tap into a multi-billion peptide market if U.S. regulators loosen restrictions on manufacturing.
Digital health and wellness company Hims & Hers reported $753 million in revenue for the second quarter, marking a 38% increase compared to the previous year. The revenue surge is attributed to the company's successful pivot from mass-marketed compounded GLP-1 weight loss drugs to FDA-approved branded options. Hims & Hers is now preparing to enter the multi-billion dollar peptide market, contingent on U.S. regulators loosening restrictions on manufacturing.
The company plans to offer well-known peptides like sermorelin, glutathione, and NAD+ by the end of the year. Hims & Hers has recently acquired a California-based peptide manufacturing facility, providing it with a fully verticalized U.S. supply chain. The firm is also developing a comprehensive peptides experience, including U.S.-manufactured products, clinically led guidance, and ongoing blood testing.
The company anticipates these offerings will capitalize on the growing popularity of peptides, driven by the success of FDA-approved GLP-1 weight loss medications like Ozempic and Wegovy.
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