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David Maris - The billion-dollar opportunity for Hims that Wall Street is "sleeping" on
Description
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 saga
05:49 - The "steelman" for why Hims launched the pill
07:29 - Novo deal economics
14:29 - MEDVi scandal and wild west of GLP-1s
18:19 - Peptides going mainstream
25:57 - July FDA meeting
31:27 - TRT = billion-dollar opportunity
35:31 - Sleep Sleep Sleep Sleep
37:26 - Friction in getting diagnosed
38:04 - The CPAP supply chain problem
39:17 - How Hims could revolutionize sleep
43:04 - Eucalyptus and going global
46:16 - Cruise engineers (wtf are they building?!)
50:25 - Short interest still out of control
55:05 - Voting control and insider selling
59:46 - Valuation and Q1 warning signs
01:03:48 - Should Hims buy a teletherapy?
01:07:12 - Why Maris is long Hims 🔥
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