The Short Thesis on HIMS is crumbling

Another stellar quarter blows the shorts out of the water

Hims & Hers (HIMS) produced another blowout quarter with revenue up 111% and adjusted EBITDA almost tripling. Before we analyse the result, we start with taking on the short thesis as 33% of the float is short, according to the latest figures.

We think that all possible short arguments have lost much of their logic after Q1/25, if they had any to start off with…