CompetitionAmazon's entrance into these markets signals growing competition for customers and is expected to impact the prices that HIMS can charge, HIMS' ability to grow and capture new customers, and HIMS' LTV/CAC.
Regulatory UncertaintyThe FDA reviewing its decision to remove tirzepatide from the shortage list shows that the question of potential duration for HIMS' compounded GLP-1s sales, and the inherent uncertainties around supply shortages, will remain in focus and continue to cause stock volatility.
Revenue DurabilityThere is uncertainty around the longer-term opportunity for HIMS to benefit from compounded semaglutide, with concerns about the durability of the business post-shortage persisting.