Hims & Hers eyes peptides as weight-loss boom broadens

Hims & Hers has turned weight loss into a growth engine, but the bigger question now is whether the company is building a parallel health system or just a more profitable version of telehealth. The San Francisco-based company reported 2024 revenue of $1.5 billion, up 69% from a year earlier, with net income of $126 million and 2.2 million subscribers. Even without GLP-1 products, revenue rose 43% year over year to more than $1.2 billion, showing that the business has broadened beyond one drug class.

That momentum is now colliding with a more complicated policy landscape. Hims & Hers said in February 2025 that it acquired a California peptide facility to strengthen its domestic supply chain and support future work in preventive health, metabolic optimization, cognitive performance, recovery science and biological resistance. In April 2026, chief medical officer Dr. Pat Carroll said the company believed people deserved a “responsible pathway” to peptide therapy and was exploring expansion aligned with FDA guidance. The move signals an ambition that goes well beyond convenience branding, and into the territory of primary care, longevity medicine and chronic-condition management.

The U.S. Food and Drug Administration has made that transition harder to ignore. On April 1, 2026, the agency said the national tirzepatide shortage had been resolved and reminded compounders that compounded drugs generally cannot be regular copies of commercially available products unless a prescriber documents a significant patient-specific difference. The agency also scheduled a Pharmacy Compounding Advisory Committee meeting for July 23 and 24, 2026, adding another regulatory checkpoint for telehealth companies that built businesses around cheaper copycat GLP-1s.

Hims’ relationship with Novo Nordisk has also reshaped the company’s weight-management strategy. On March 9, 2026, Novo dropped its legal proceedings against Hims after the companies reached an agreement under which Hims would sell Novo’s branded medicines, stop advertising compounded GLP-1 drugs and offer Ozempic and Wegovy at the same price as other telehealth platforms. In March 2026, Hims said it would offer the FDA-approved Wegovy pill and injections. Within six weeks, the company said it had fulfilled more than 125,000 Wegovy orders.

For patients, the shift could mean broader access to branded obesity treatment through a cash-pay channel that is often faster than traditional care. But it also raises an equity question: whether telehealth startups are expanding access for people shut out of the health system, or simply selecting patients with the ability to pay and the conditions most likely to drive revenue. Andrew Dudum has described 2026 as “the year of the consumer in healthcare,” and Hims is betting that consumers will keep choosing a system that packages treatment, refill and follow-up into one digital storefront.