Marketing And AdvertisingSignificantly fewer HIMS GLP-1 ads are noticed throughout social media feeds and less on TV, indicating a pullback in GLP-1 marketing spend.
Regulatory RisksIf HIMS does sell personalized semaglutide at scale beyond May 22, expect Novo Nordisk to take legal action and anticipate the FDA will challenge the scale of personalized GLP-1 sales as well.
Revenue ChallengesThe average transaction value decreased m/m for the first time since September, and GLP-1 sales were down meaningfully m/m in March.