Hims & Hers Health Is Building The Next Global Primary-Care Network
Summary
- Hims & Hers delivered hyper-growth in Q1, doubling revenue and expanding margins, with strong subscriber growth and rising spend per member.
- The Zava acquisition transforms Hims into a pan-European telehealth leader, tripling its addressable market and leveraging local licenses for rapid expansion.
- Europe's single-payer systems and Zava's infrastructure enable stickier subscriptions, higher retention, and margin expansion through private-label generics and AI-driven data advantages.
- Despite risks from regulation, integration, and competition, Hims trades at a discount to its growth profile; Zava is a true inflection point with significant upside potential.
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