Hims House

Episod

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  Enhanced Group CEO: Hot peptide summer is coming — but likely not till 2027 07.08.2026 54min

  Max's recent essays on peptides:https://maximilianbmartin.substack.com/p/six-peptides-one-signal-washingtonhttps://maximilianbmartin.substack.com/p/the-peptide-moment-is-here-enhancedIn episode 76 of Hims House, Jonathan Stern hosts Maximilian Martin, CEO of Enhanced Group ( $ENHA ), the newly public company behind the Enhanced Games and the Live Enhanced telehealth platform. Martin grades the inaugural games ten weeks out — 42 athletes, 21 personal bests, one world record, and $32M in contracted sponsorship — and argues the 40% stock price selloff that occurred after the Games is misplaced. He recounts his week in Washington D.C., around the FDA compounding advisory committee, where six of seven peptides were recommended, and explains why Enhanced will wait on FDA’s formal rulemaking to start selling peptides. He concedes peptides are essentially a “commodity”, so the edge has to come from brand and personalized protocols. Also covered: whether big pharma is quietly slowing things down, how big the market for peptides could be, and Enhanced’s recent supplements launch in 33 new countries. 00:00 - Sponsor: Superpower 
01:38 - The Enhanced Games: an honest scorecard
06:35 - Why $ENHA stock fell 40%
10:13 - The athlete-led flywheel
11:52 - Why he flew to Washington for peptides
18:07 - Six of seven peptides recommended
20:21 - How long will FDA rulemaking take? 
22:51 - Where the peptide moat actually is
30:16 - Is big pharma slowing down peptide approval?32:14 - Being first vs being best
40:33 - Could peptides be a $10B market in 2027? 
46:00 - Enhanced now live in 33 new markets
50:25 - Life as a public company CEODisclaimer: This podcast is for informational and entertainment purposes only. Nothing discussed should be considered financial, investment, or legal advice. Always consult with a qualified professional before making financial decisions.
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  🚨 FDA committee votes "YES" on 6 of 7 peptides — here's what happens next, with Dr. Alex Tatem 27.07.2026 59min

  In episode 75 of Hims House, Jonathan Stern talks with Dr. Alex Tatem, a board-certified urologist who has worked with peptides for 12 years and paid his own way to Silver Spring, MD, to testify on all 7 peptides before the FDA's Pharmacy Compounding Advisory Committee. The panel overruled the FDA's own scientists and recommended six of seven for the 503A Bulks List — DSIP the lone no — and Tatem describes what the national media coverage missed: specifically, briefing documents that omitted the peptide data entirely. He explains why the recommendation isn't binding, why a final rule could take months or years, and how limits on route of administration could hollow out the win. On the business side: why Hims and Noom will wait for final rulemaking while smaller players roll the dice, the API landscape, and the market dynamics of BPC-157 once approved. 00:00 - Sponsor: Superpower01:37 - What it was like in the room of the FDA05:53 - Briefing documents OMITTED the data11:33 - The one "NO" vote17:33 - Why the win isn't binding21:33 - Rulemaking timeline: likely months or years24:19 - RFK vs the FDA bureaucracy28:06 - Who will sell peptides before final rulemaking31:34 - Hims likely won't 34:43 - Peptide marketing claims 40:18 - Every raw material (API) comes from China45:23 - BPC under $100 a month? 48:29 - Where was Ro?50:08 - The best argument *against* peptides55:12 - Peptides will be an economic gold rushDisclaimer: This podcast is for informational and entertainment purposes only. Nothing discussed should be considered financial, investment, or legal advice. Always consult with a qualified professional before making financial decisions.
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  The FDA peptides vote is days away. This insider expects approval 15.07.2026 1j 1min

  In episode 74, Jonathan Stern sits down with Dr. Jesse Morse, a board-certified family and sports medicine physician, longtime peptide prescriber who helped assemble safety evidence for the upcoming PCAC review. They discuss the FDA briefing recommending against adding seven peptides to the 503A bulks list and how the 2023 restrictions pushed demand into gray and black markets. Morse breaks down the 7 peptides under review -- BPC-157, TB-500, KPV, MOTS-c, DSIP, Epitalon, and Semax -- including their proposed uses, safety concerns, and his approval odds for each. The conversation also covers peptide efficacy standards, the politics behind the FDA process, and why U.S.-made API could become a major advantage for Hims & Hers.00:00 - Sponsor: Superpower01:37 - FDA briefing document 03:24 - Getting peptides back in front of the FDA08:58 - Prescribing peptides back in 201712:42 - Peptides safety data16:08 - BPC-157 deep-dive and odds for approval22:56 - TB-500 deep-dive26:15 - Approval odds for the other 5 peptides31:02 - Peptide efficacy data 34:40 - FDA politics and final decisions40:30 - Peptides market size42:48 - Training the doctors47:20 - Shipping hurdles and gray-market risk53:25 - Why peptides could reshape healthcareDisclaimer: This podcast is for informational and entertainment purposes only. Nothing discussed should be considered financial, investment, or legal advice. Always consult with a qualified professional before making financial decisions.
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  Ryan MacDonald: Peptides could be a $30B+ market, and Hims is positioned to win meaningful share 07.07.2026 1j

  In Hims House episode 73, Jonathan Stern talks with Needham’s Ryan MacDonald, the lead Hims & Hers analyst with a $35 price target and Buy rating. They break down the latest peptide news, how the FDA/PCAC process actually works, and why peptides may be more of a 2027 revenue story for major telehealth platforms like Hims. They also size the peptide opportunity, debate Hims’ potential share, and dig into GLP-1s, the Novo partnership, branded vs compounded economics, competition, valuation, short interest, insider signals, and the catalysts that matter most. 00:00 - Sponsor: Superpower01:58 - FDA briefing document breakdown04:15 - The timeline of peptide approval 09:50 - Category 1 vs 503A Bulks List 11:34 - When will telehealths start to sell peptides? 14:25 - Sizing the peptide market19:31 - Hims’ peptide share21:55 - Peptide pricing & margins24:45 - Peptides likely a 2027 revenue story 29:58 - Hims-Novo deal check-in32:11 - Branded vs compounded GLP-1s margins35:27 - Pills vs injectables40:43 - International42:04 - Hims' moat46:22 - 2030 targets and valuation models50:32 - Shorts, insiders, and catalystsDisclaimer: This podcast is for informational and entertainment purposes only. Nothing discussed should be considered financial, investment, or legal advice. Always consult with a qualified professional before making financial decisions.
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  🚨 EXCLUSIVE: Hims board member David Wells on why he bought $1.2M of Hims 01.07.2026 51min

  In episode 72 of Hims House, Jonathan Stern interviews David Wells, Hims board member and former Netflix CFO, about his recent $1.2 million open-market purchase of Hims shares. Wells explains why he believes the company is at an inflection point after the Novo dispute and why the market may be missing the larger healthcare platform story. He discusses Hims’ mission, the broken cost and access structure of U.S. healthcare, and why he focuses more on longer-term cohorts and customer value than quarter-to-quarter CAC. The conversation covers the GLP-1 transition, peptides, acquisition pace, Andrew Dudum’s leadership, remote culture, AI, wearables, and what Hims can learn from Netflix’s disruption playbook. Wells also breaks down 10b5-1 insider selling plans, the promise of preventative scans, and why poor execution is the bear case that matters most.00:00 - Sponsor: Superpower01:07 - Meet David Wells02:30 - Why he bought $1.2M in shares05:58 - Building a mission-driven company09:03 - Why he accepted the offer to join the board10:45 - Financial metrics David is tracking12:53 - Novo deal + GLP-1s15:13 - Peptides: best, not first19:45 - M&A and execution risk20:40 - What CEO Andrew Dudum does well22:30 - Remote impact on company culture24:22 - AI, tech, and wearables29:55 - Lessons from Netflix36:17 - Insider sales 10b5-1 explained45:37 - Short interest and the bear case48:23 - Hims in 2030Disclaimer: This podcast is for informational and entertainment purposes only. Nothing discussed should be considered financial, investment, or legal advice. Always consult with a qualified professional before making financial decisions.
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  Hedge funder Ignacio Canto on retail cults, Hims as Costco + Netflix, and why Hims has 10x upside 24.06.2026 1j 7min

  In Hims House episode 71, Jonathan Stern sits down with hedge fund manager Ignacio Canto -- founder & portfolio manager at X-Square Capital, which held over 420k Hims shares as of Q1. Canto traces his interest back years, through personal product discovery and his late father's perspective as a urologist, and frames Hims as a platform business attacking a broken, expensive, and slow healthcare system. He explains why he never considered selling through the Novo Nordisk lawsuit, then lays out the moats he cares about: network effects, data ownership, proprietary wearables, and a retail following that grants rare access to cheap equity capital. He compares Hims to a mix of Costco + Netflix, makes a Tesla-style case for why the retail cult is itself part of the thesis, and argues geographic expansion widens the TAM and helps surface winning verticals. He flags regulation and competition as the main risks, but sees logarithmic upside that makes any linear price target a trap -- and thinks the stock could eventually command a 10x price-to-sales.00:00 - Sponsor: Superpower 01:38 - Why he never considered selling03:41 - Buying the collapse into the teens06:29 - Why Hims first caught his eye10:37 - Healthcare is broken and overpriced12:50 - Why Ignacio has added to his position since 202421:41 - Why price targets aren't right for Hims27:42 - Retail cults38:40 - Hims as Costco + Netflix41:33 - Why Hims should own the wearable 44:25 - Regulation as a bear case46:09 - Competition: Ro, Amazon, and others55:30 - Why Hims could command a 10x P/S ratio
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  Hedge fund manager Imran Khan bought more Hims at its most hated moment -- here's why 16.06.2026 53min

  In Hims House episode 70, Jonathan Stern sits down with hedge fund manager Imran Khan, founder and CIO of Proem Asset Management and a Hims shareholder (110,000 shares as of March 31). Khan lays out his investment framework -- long-term growth potential, execution track record -- and argues that Hims' core asset is its loyal customer base and its ability to stack new products and services on top of it, with execution as the main bear case. Drawing on his years at Snap as Chief Strategy Officer, he explains why markets overreact in both directions and why investors should follow the numbers rather than the narrative. They dig into the risks of hiring big-company executives, the limited visibility into product progress, and gross margins hitting an all-time low (which Khan sees as non-structural for Hims). The discussion widens to SpaceX's IPO, software vs semis in the AI capex cycle, Duolingo as a "learning social network," buybacks and insider buying, and the dangers of excessive leverage and round-the-clock markets.00:00 - Sponsor: Superpower 02:07 - Conviction to double down on Hims04:32 - How being an operator reshaped his investing06:51 - Inside the Proem portfolio09:38 - The bull case for Hims14:15 - Why founder focus matters15:45 - Execution is the whole bear case17:45 - The LTV and CAC flywheel21:56 - The risk of hiring big-company execs27:03 - Is the pace of product development too slow?29:51 - Let the numbers speak31:10 - Gross margins heading the wrong way? 32:59 - What SpaceX's IPO does to markets35:33 - Software versus semis in the AI cycle38:51 - Duolingo as a learning social network42:45 - Buybacks and why insider buys don't excite him44:28 - Why memory names may go higher45:23 - The value of sell-side research48:31 - Why he loves being an investor (and spectating) 50:55 - Managing risk and avoiding leverage52:26 - Leverage, 24/7 markets, and closing advice Disclaimer: This podcast is for informational and entertainment purposes only. Nothing discussed should be considered financial, investment, or legal advice. Always consult with a qualified professional before making financial decisions.
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  Cremieux - Half of America could be on GLP-1s by 2030 (and why peptides are probably overhyped) 10.06.2026 48min

  In episode 69 of Hims House, Jonathan Stern welcomes back researcher and data analyst Cremieux to take stock of the GLP-1 and peptides market. Cremieux points to Epic's new EHR dashboard as the best live read on adoption, backing estimates that roughly one in eight adults are on GLP-1s and one in five have tried them -- with cost and stigma holding back uptake until semaglutide generics arrive around 2031. They also dig into the next wave of GLP-1s, spotlighting glucagon combos like servadutide and mazdutide for dramatic liver-fat reductions, plus retatrutide's standout weight-loss numbers. Cremieux pushes back on the claim that retatrutide preserves muscle and throws cold water on peptide hype, especially BPC-157, while flagging thymosin alpha-1 as the one with the most real clinical support. They close on why wearables rarely change behavior, and whether Ro will ever go public. 00:00 - Sponsor: Superpower 01:37 - What America looks like in 203003:58 - How many Americans are on GLP-1s today? 05:46 - Why price still keeps people off GLP-1s06:32 - Generic GLP-1s in 203109:30 - The next-generation of GLP-1s11:02 - GLP-1 effect on fatty liver disease15:48 - Could the FDA fast-track retatrutide? 17:15 - The oral GLP-1 war: Wegovy Pill vs Foundayo21:04 - Is it a myth that reta preserves muscle? 25:05 - ADA conference takeaways 27:23 - Why GLP-1s are likely safe over the long term31:55 - BPC-157's thin evidence + cancer risk35:12 - Which peptides actually have the most evidence38:20 - Peptides market dynamics41:29 - Why wearables usually don't change behavior46:10 - Will Ro go public? Disclaimer: This podcast is for informational and entertainment purposes only. Nothing discussed should be considered financial, investment, or legal advice. Always consult with a qualified professional before making financial decisions.
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  Sagar & Sahil Chopra - Founders of Empower Sleep on AI-powered sleep care and the Hims opportunity 26.05.2026 54min

  In episode 68, Jonathan Stern hosts Sagar and Sahil Chopra, founders of Empower Sleep, to unpack why sleep care is still fragmented, slow, and overly dependent on single-night testing. They explain how Empower uses multi-night diagnostics, wearable integrations, coaches, and clinicians to build a fuller picture of what is actually driving poor sleep. They also discuss how weight loss, GLP-1s, alcohol, congestion, and physiology changes can alter sleep therapy over time. Finally, they explore how Hims could enter sleep through diagnostics, targeted treatments, cash-pay CPAP, and AI-enabled longitudinal care.00:59 - Background on Empower Sleep07:41 - Why sleep care is broken11:12 - The single-night testing flaw15:02 - Medical-grade sensors vs wearables20:08 - Empower’s patient journey28:29 - The sleep market opportunity36:29 - How Hims could enter sleep46:02 - Future of sleep tech Disclaimer: This podcast is for informational and entertainment purposes only. Nothing discussed should be considered financial, investment, or legal advice. Always consult with a qualified professional before making financial decisions.
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  Eli Dorf (Bask Health) - What is Hims’ moat if anyone can launch a telehealth startup overnight? 19.05.2026 55min

  In episode 67 of Hims House, Jonathan Stern hosts Eli Dorf, founder and president of Bask Health. Bask provides the operating infrastructure for telehealth brands to launch quickly, choose pharmacy and clinical partners, route patients, process payments, and fulfill medications. Eli explains why outsourced infrastructure can let small teams scale fast, what Medvi’s rise reveals about the telehealth stack, and why he sees Hims’ strongest moat as brand trust and customer scale rather than pure technology. They also discuss pricing pressure in compounded GLP-1s, FDA enforcement, 503A compounding latitude, and why fragmentation could keep compressing margins. The conversation closes with peptides, LegitScript and payments hurdles, trusted brands, wearables, the health super app race, and whether Ro could go public.00:00 - Sponsor: Superpower02:18 - What Bask Health does03:19 - Launching a telehealth brand overnight07:21 - Can anyone copy Hims?14:28 - Bask's business model16:28 - Fragmentation hits telehealth margins19:48 - Medvi’s cautionary tale21:56 - What are Hims’ real moats25:29 - Data, AI, and wearables26:39 - Should Hims sell hardware?30:15 - FDA pressure on GLP-1s33:44 - Peptides as the next GLP-1 moment36:48 - Payment processing and LegitScript41:05 - Why peptide trust matters43:52 - The health super-app race47:44 - Ro vs Hims50:45 - Will Ro go public?Disclaimer: This podcast is for informational and entertainment purposes only. Nothing discussed should be considered financial, investment, or legal advice. Always consult with a qualified professional before making financial decisions.
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  Brian Birnbaum - Hims & Hers Q1 earnings breakdown and the long-term bull case for Hims 13.05.2026 59min

  Thanks to our partner:Superpower - https://superpower.comSubscribe to Hims House:https://himshouse.comBrian's excellent essay on Hims:https://thepsychoanalyst.substack.com/p/protect-this-hims-houseFollow us:https://x.com/himshousehttps://x.com/jonathanrsternhttps://x.com/therealbirnbaumIn episode 66 of Hims House, Jonathan Stern hosts Brian Birnbaum, “The Psycho Analyst,” for a post-earnings breakdown of Hims & Hers’ Q1. They unpack the transition to branded GLP-1s, the $608M in revenue (and y/y U.S. revenue decline), lower gross margins, subscriber net new adds, and why guidance matters more than the headline numbers. Brian argues Hims is still a venture-style bet, as they discuss all of the factors that will shape the next phase. They also discuss Ro’s momentum, peptides, Hims as an AI doctor / healthcare "operating system", wearables, insider selling, and valuation. The episode closes with Brian’s broader market outlook and why he remains bullish despite volatility, short pressure, and execution risk. 00:56 - Meet Brian Birnbaum01:51 - Why “The Psycho Analyst”03:03 - Market psychology and Hims04:38 - Q1 numbers that actually matter07:07 - Bullish revenue guidance07:56 - Gross margins10:17 - Testosterone and Wegovy scale13:26 - Branded GLPs14:30 - Subscribers, churn, and Q2 guidance19:02 - Novo lawsuit aftermath21:41 - Volatility and conviction23:53 - Why Brian trusts Andrew25:25 - International risk and Ro pressure28:22 - Ro’s domestic momentum31:08 - Is Ro preparing to IPO?32:14 - Peptides34:39 - Why best beats first36:34 - Speed40:40 - The AI doctor thesis41:19 - Wearables 46:59 - Insider selling50:30 - Valuing a venture-stage public company52:35 - Broader market outlook58:33 - Final takeawaysDisclaimer: This podcast is for informational and entertainment purposes only. Nothing discussed should be considered financial, investment, or legal advice. Always consult with a qualified professional before making financial decisions.$HIMS #hims #peptides #glp1 #retatrutide #tirzepatide #semaglutide
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  Mansi Hukmani - The #1 peptide Substacker on peptide culture, supply-chain race & coming gold rush 30.04.2026 50min

  In episode 65 of Hims House, Jonathan Stern talks with Mansi Hukmani, founder of Chief Longevity Officer, about how peptide culture moved from biohacker circles into the next big frontier for telehealth. Mansi explains how New York, San Francisco, London, and Dubai each approach longevity culture differently, and why distrust in traditional healthcare has helped peptides feel more like a movement than a product category. They discuss her own experience with retatrutide, the coming FDA regulatory milestones, and why reclassification could unleash a wave of clinics, compounders, and telehealth players. The conversation then turns to the real bottleneck: supply chain control, especially China’s dominance in protected amino acids and peptide synthesis. Mansi argues the winners may not be first to market, but first to secure manufacturing, data, and trust at scale. 02:09 - The #1 peptide substacker03:45 - Inside peptide culture06:30 - NAD+ shots and different form factors08:20 - Peptide culture across cities10:54 - Dubai’s longevity gold rush12:21 - Why peptides feel a little like crypto16:41 - Mansi’s peptide experiments19:50 - FDA timeline for peptide reclassification24:46 - Why supply chain wins26:11 - The synthesis bottleneck28:15 - China’s scale advantage30:29 - Why Hims bought CS Bio31:39 - State laws33:57 - Who wins the peptide rush36:51 - Pricing power, tariffs, and trust41:53 - Why gray markets persist45:01 - Peptides with real LTV47:51 - The Flatiron Health for peptides Disclaimer: This podcast is for informational and entertainment purposes only. Nothing discussed should be considered financial, investment, or legal advice. Always consult with a qualified professional before making financial decisions.
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  Enhanced Games - "We're ready to go" on peptides, prepping $1.2B SPAC in May 27.04.2026 1j 14min

  In Hims House episode 64, Jonathan Stern hosts Max Martin & Christian Angermayer, co-founders of Enhanced, ahead of their inaugural May 24 Las Vegas games featuring track, swimming, weightlifting, and a deadlift showdown between Thor Björnsson and Mitchell Hooper. They argue that banning PEDs drives unsafe, hidden use and that openly allowing FDA-approved substances under medical supervision, paired with an IRB-approved clinical study of about 40 athletes at a top Abu Dhabi longevity hospital, is both safer and more honest. Enhanced is also building a consumer health and longevity brand selling supplements (Longer+ and Stronger+), hormone therapy, compounded GLP-1s, and approved peptides, with plans to launch more peptides immediately once the FDA reclassifies them in July. Angermayer also discusses his family office Apeiron, his psychedelics company atai Life Sciences, and the recent White House endorsement of psychedelic therapeutics. The company is going public via SPAC in early-to-mid May at a $1.2B valuation under the ticker ENHA, with founders arguing now is the right time to bring fans along as shareholders.02:40 - The case for allowing PEDs in sports06:19 - Prize money and equal pay10:40 - Humans vs robots? 🤯15:32 - Inside the Abu Dhabi clinical trial20:07 - Why Abu Dhabi24:04 - Launching the consumer health line29:40 - Peptides ready to go32:32 - Sizing the peptide market35:42 - The shift to preventative medicine39:56 - Double digit peptide adoption forecast43:21 - Apeiron and the next human agenda47:53 - Psychedelics x White House boost51:50 - Going public to include fans55:24 - Telehealth megacycle just starting58:15 - Sports as customer acquisition engine01:08:17 - Enhanced’s Longer+ formulation01:10:57 - Biohacking roots and wrap up Disclaimer: This podcast is for informational and entertainment purposes only. Nothing discussed should be considered financial, investment, or legal advice. Always consult with a qualified professional before making financial decisions.
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  David Maris - The billion-dollar opportunity for Hims that Wall Street is "sleeping" on 22.04.2026 1j 9min

  In this episode of Hims House, Jonathan Stern welcomes back six-time #1 ranked healthcare analyst David Maris to unpack everything that's happened at Hims since last July. They walk through the wild GLP-1 timeline -- the compounded semaglutide pill launch, Novo's lawsuit, FDA/DOJ referral, and surprise Novo partnership -- debating margins, the missing Lilly deal, and what the MEDVi scandal means for the broader compounding market. Maris shares mixed feelings on peptides ahead of the July FDA meeting, and makes the case that TRT and especially sleep are billion-dollar opportunities analysts are ignoring. He also critiques Hims' voting structure and insider selling, weighs in on the stubborn 34% short interest, and closes by revealing he's long Hims as of April 17, 2026, despite worries about what Q1 data is signaling.02:56 - Compounded semaglutide pill saga05:49 - The "steelman" for why Hims launched the pill07:29 - Novo deal economics14:29 - MEDVi scandal and wild west of GLP-1s18:19 - Peptides going mainstream25:57 - July FDA meeting 31:27 - TRT = billion-dollar opportunity35:31 - Sleep Sleep Sleep Sleep37:26 - Friction in getting diagnosed38:04 - The CPAP supply chain problem39:17 - How Hims could revolutionize sleep43:04 - Eucalyptus and going global46:16 - Cruise engineers (wtf are they building?!)50:25 - Short interest still out of control55:05 - Voting control and insider selling59:46 - Valuation and Q1 warning signs01:03:48 - Should Hims buy a teletherapy?01:07:12 - Why Maris is long Hims 🔥Disclaimer: This podcast is for informational and entertainment purposes only. Nothing discussed should be considered financial, investment, or legal advice. Always consult with a qualified professional before making financial decisions.
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  Jonah Lupton - Why peptides are so bullish for Hims & Hers 17.04.2026 58min

  In this episode of Hims House, Jonathan Stern sits down with Jonah Lupton, founder and CIO of FirstWave Capital and one of the largest Hims shareholders to appear on the show, to break down his bull case around peptides. Lupton argues peptides, GLPs, and testosterone make up roughly 80% of his Hims thesis, with AI as the remaining upside. They dig into the FDA's July 23-24 advisory meeting, what reclassification could mean for the gray market, and why a Lilly partnership could be bigger than Novo. Lupton also shares his personal stack, BPC-157, TB-500, NAD+, TRT, and microdosed GLPs, plus the roughly $1,500 - $2,000 a month he spends on all of it. He closes with a long-term model projecting Hims at $15B in revenue by 2035, and flags Bachem as one of the few other public ways to play peptides.02:34 - How Jonah got into peptides03:39 - Current Hims position05:04 - Original Hims thesis in the teens09:12 - FDA peptide timeline & July meeting15:03 - Peptides are "80% of the thesis"18:37 - Jonah's personal peptide stack26:00 - Spending $30K a year on peptides28:47 - Black market and WhatsApp China30:25 - Gray market and the COA problem31:05 - Why Hims wins on legitimacy32:36 - Best, not first32:54 - Frustration with Hims transparency35:28 - Speed vs the Apple approach37:45 - Surviving the Novo scare42:46 - Branded vs compounded future44:41 - Why Lilly matters more than Novo50:18 - Valuation and the 2035 model57:04 - Wrap up and other peptide playsDisclaimer: This podcast is for informational and entertainment purposes only. Nothing discussed should be considered financial, investment, or legal advice. Always consult with a qualified professional before making financial decisions.
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  Geoff Cook (Noom CEO) - The peptide boom and why Noom just acquired a 503A pharmacy 01.04.2026 53min

  Noom CEO Geoff Cook returns to Hims House to discuss the company's acquisition of Tailor Made Compounding, a 503A pharmacy in 46 states, and what it signals about Noom's expansion beyond weight loss into healthy aging. Cook explains why vertical integration matters now, from supply chain control to faster R&D on peptides, as 14 peptides may soon return to being legal to compound. He shares his outlook on compounded GLP-1 regulation, branded oral offerings like the Wegovy pill, and why DTC-pharma partnerships are set to accelerate. The conversation digs into peptide market sizing, competition dynamics, and Noom's plan to expand at-home biomarker testing past 30 markers. Cook also makes the case for Noom's moat in engagement and behavior change and shares his personal BPC-157 recovery story. 00:00 - Why pharma needs DTC platforms01:12 - Sponsor: Mochi Health03:03 - Noom's 90% revenue growth05:01 - Why Noom bought Tailor Made Pharmacy (503A)07:29 - The case for vertical integration08:56 - Compounded GLP-1s aren't going anywhere16:48 - The Hims-Novo deal19:08 - Noom's pitch to next-gen pharma24:24 - Peptide market sizing25:33 - Why GLP-1 users will buy peptides first27:22 - Ten million potential peptide patients 👀30:09 - When will legalization happen? 31:09 - Tracking the FDA green list34:26 - Who wins when peptides go legal?37:58 - Why Noom won't rush peptide launch39:33 - Geoff's BPC-157 ski injury recovery46:42 - Expanding at-home labs past 30 biomarkers52:47 - Noom IPO coming?!Disclaimer: This podcast is for informational and entertainment purposes only. Nothing discussed should be considered financial, investment, or legal advice. Always consult with a qualified professional before making financial decisions.
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  Sam Koppelman - Why Hunterbrook’s founder says Hims "wiped the floor" with Novo 16.03.2026 37min

  In Hims House episode 60, Sam Koppelman (co-founder of Hunterbrook Media) joins Jonathan Stern to break down the renewed Hims x Novo Nordisk partnership that sent Hims' stock soaring. Koppelman argues CEO Andrew Dudum "wiped the floor" with Novo, essentially conceding nothing beyond dropping compounded GLP-1 ads. They dig into why Novo folded, how FDA enforcement under Marty Makary has been softer than expected, and whether compounded GLP-1s will survive 2026. The conversation also turns to peptides as Hims' next major growth lever, powered by its own manufacturing facility and coming regulatory changes under RFK. Koppelman also discusses Hims vs Ro, and discloses that Hunterbrook Capital is currently long $HIMS.00:00 - Sponsor: Mochi Health02:39 - Hims x Novo are back!07:40 - Why Dudum "wiped the floor" with Novo11:38 - The semaglutide pill controversy13:48 - Branded vs compounded GLP-1s 16:32 - Eli Lilly next?17:36 - FDA enforcement since Makary21:31 - Why peptides could be HUGE30:57 - Hims subscriber growth and outlook33:18 - Ro vs Hims35:45 - Hunterbrook’s current Hims position 👀Disclaimer: This podcast is for informational and entertainment purposes only. Nothing discussed should be considered financial, investment, or legal advice. Always consult with a qualified professional before making financial decisions.
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  🚨 NOVO NORDISK AND HIMS & HERS STRIKE A NEW DEAL — Raul Shah breaks it all down 10.03.2026 1j

  Thanks to our partner, Mochi Health! https://JoinMochi.comSubscribe to Hims House:https://himshouse.com/subscribeFollow us:https://x.com/himshousehttps://x.com/jonathanrsternhttps://x.com/Raul_DSFJoin the Discord:https://discord.gg/tJqGgVhkEtIn this emergency episode of Hims House, Jonathan Stern is joined by Raul Shah, founder and CEO of DocShah Financial and a longtime HIMS shareholder, to unpack the new HIMS–Novo Nordisk partnership. They break down the deal terms, why Raul thinks it removes the biggest legal and regulatory overhangs and restores the platform thesis, and what both sides get out of it. From there they stress-test every major bear case, discuss margin impacts, future pharma partnerships, buybacks vs. dilution, the peptides opportunity, and long-term valuation math.00:00 - Sponsor: Mochi Health01:14 - Background on DocShah Financial04:12 - The Friday night Bloomberg rumor05:49 - Breaking down the actual deal terms07:48 - Why does this deal make sense for both sides?10:00 - Who won the deal?14:15 - Will the deal actually hold this time?16:50 - Margin impact and platform upside18:41 - Could Lilly or other pharma deals follow?21:47 - The remaining bear theses 23:45 - "Hims is too dependent on GLP-1s"25:30 - "The core business is dead"27:31 - "International expansion won't work"30:46 - "Subscriber growth slowing, CAC rising" 31:33 - Lifetime value vs. customer acquisition cost34:04 - Why did Raul hold through the 2025 drawdown37:22 - Buybacks and capital allocation40:18 - Peptides 42:57 - 2026 priorities44:04 - Does Hims actually have a moat?49:12 - Revenue targets and valuation55:57 - Peptides as a re-rating catalystDisclaimer: This podcast is for informational and entertainment purposes only. Nothing discussed should be considered financial, investment, or legal advice. Always consult with a qualified professional before making financial decisions.
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  Mark Mulhern - Hims & Hers Q4 Earnings Recap & Breakdown 02.03.2026 1j 1min

  In this episode of Hims House, Jonathan Stern sits down with Mark Mulhern (Manu Invests) to break down HIMS’ Q4 and full-year results: $2.35B in 2025 revenue, 59% Q4 growth, and $318M EBITDA—alongside subscriber growth that has slowed to ~flat sequentially. They unpack 2026 guidance of $2.7-$2.8B (excluding the pending Eucalyptus deal) and why total 2026 revenue could still land around ~$3B once Eucalyptus is included. The core debate is around what management didn’t address: the Novo Nordisk patent lawsuit, FDA/DOJ probes, an SEC investigation disclosed in the 10-K, plus the compounded semaglutide pill launch-and-pullback that triggered chaos. They also dig into competitive pressure (Ro and pharma price cuts), the pivot to international + labs as growth levers, the unanswered AI/ML product roadmap, and whether peptides are the next “GLP-1 moment” or just hype.00:00 Sponsor: Mochi Health 01:57 Q4 2025 earnings recap 05:22 2026 guidance & Eucalyptus impact09:34 Unanswered issues: Novo, FDA/DOJ, SEC14:06 Semaglutide pill chaos 19:49 International expansion23:38 U.S. core slowdown24:50 Why Mark still holds HIMS 27:44 Labs: acquisition and flywheel 31:14 Execution on new launches 34:55 Peptides 38:58 What is Hims’ new AI team building?! 41:30 Ranking risks: Novo vs. FDA vs. DOJ vs. SEC44:00 Hims x Lilly? 47:44 Sentiment drag54:48 Valuation and stock price 57:36 2026 predictions Disclaimer: This podcast is for informational and entertainment purposes only. Nothing discussed should be considered financial, investment, or legal advice. Always consult with a qualified professional before making financial decisions.
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  Annanay Kapila - Former quant on why Hims is the most-shorted stock in the S&P MidCap 400 🤯 18.02.2026 1j 1min

  In Hims House episode 57, former quant Annanay Kapila (ex–Tower Research, Cambridge math) breaks down how high-frequency trading actually works and why retail investors shouldn't try to beat HFT firms at their own game. He breaks down QFEX, his new 24/7 exchange built with crypto-style efficiency for traditional markets, and the core case for nonstop trading. The conversation then turns to Hims' extraordinary short interest — roughly 76 million shares, around 44% of float — with Annanay pointing out that theoretically much of it *could* stem from long/short hedge fund mandates, risk-model offsets, and institutional groupthink rather than fundamental bets against the business. They also unpack what large disclosed stakes from firms like Jane Street and JP Morgan actually signal. The episode closes on Annanay’s essay “Prediction Market Paradox” - a dimmer view on prediction markets. 00:00 Sponsor: Mochi Health02:10 High-frequency trading 03:59 Background of a quant 12:47 Why Annanay left Tower to build QFEX 15:28 The case for 24/7 trading18:56 Does HFT “rig” the market?25:45 Why Is Hims so heavily shorted?34:25 How to read short disclosures correctly 37:14 What might trigger shorts to cover?40:15 Hims down 17 out of 18 weeks 🤯41:41 Convertible notes and the anti-squeeze 45:52 What a Jane Street stake really means52:11 Prediction markets Disclaimer: This podcast is for informational and entertainment purposes only. Nothing discussed should be considered financial, investment, or legal advice. Always consult with a qualified professional before making financial decisions.