Hims & Hers Health, Inc. (NYSE:HIMS) announced the launch of Labs, a new way for customers to understand their overall health and identify ways to improve and maintain it.
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Labs measures key markers over time and provides doctor-developed action plans.
With Labs, customers can partner with Hims & Hers for insights for better health in areas such as heart health, metabolism, hormones, inflammation and stress.
Results are easy to understand and paired with doctor-developed action plans with lifestyle guidance and access to personalized treatment plans, if deemed appropriate by a health care provider.
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The company expects to expand the offering over time, with plans to introduce at-home testing devices, additional biomarker tests in areas such as bone and brain health and advanced diagnostics that detect chronic and life-threatening conditions.
With two plans available, eligible customers can choose the level of detail that is right for them and affordably get the insights they need to monitor, maintain, and improve their overall health.
Base includes one yearly blood draw that captures 50 biomarker tests across nine categories and is available for $199 a year.
Advanced includes two yearly blood draws that capture over 120 biomarker tests across 10 key categories and is available for $499 a year.
"You know, the size of this market is, I think, every single person in the country," CEO Andrew Dudum told the Wall Street Journal. He expects the offering to eventually represent a $1 billion business.
The Wall Street Journal reported that under the offering, Hims & Hers customers will access testing at Quest Diagnostics Inc. (NYSE:DGX) 1,000-plus sites around the country, then receive results and consult with providers on the platform for a personalized plan that could include prescriptions, supplements, or nutrition guidance, Dudum said.
A blood draw that captures 50 biomarker tests costs $199 a year, while a plan with two blood draws and 120 biomarker tests is priced at $499. The tests cover areas like heart health, metabolism, hormones, inflammation and stress.
"It's a price point that I think the majority of the country can afford," Dudum said.
The report added that Quest's comprehensive health profile costs $385 and analyzes more than 75 markers.
Hims & Hers Health reported third-quarter revenue of $598.97 million, beating the Street estimate of $580.24 million. Subscribers grew to almost 2.5 million, up 21% year-over-year.
Outlook: Hims & Hers sees fourth-quarter revenue of between $605 million and $625 million, versus the $631.68 million analyst estimate. The company narrowed its fiscal 2025 revenue outlook to a range of $2.335 billion to $2.355 billion, versus the $2.341 billion estimate.
HIMS Price Action: Hims & Hers Health stock is up 4.75% at $37.73 at publication on Friday.
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