Key Takeaways HIMS adds Europe via ZAVA acquisition, eyes Canada in 2026 with weight-loss-focused expansion.HIMS hit 2.4 million subscribers in Q2 2025, with 30.8% year-over-year growth and rising per-user revenue.AMWL boosts software to 57.1% of revenue, aided by its MHS contract expansion.Virtual healthcare is rapidly evolving, with Hims & Hers Health, Inc. (HIMS) and American Well Corporation (AMWL) , popularly known as Amwell, at the forefront. HIMS is a consumer-focused digital health platform that off ...

Core Insights - Hims & Hers Health reported Q2 2025 GAAP revenue of $544.8 million, a 73% increase year-over-year, but fell short of the consensus estimate of $551.7 million by 1.2% [1][5] - The company achieved a diluted GAAP earnings per share of $0.17, reflecting a significant year-over-year increase of 183.3% from $0.06 in Q2 2024 [2][6] - Subscriber count reached 2.44 million, marking a 30.8% increase from 1.86 million in Q2 2024, with a 30% rise in monthly online revenue per average subscriber to $74 [2][7] Financial Performance - Adjusted EBITDA rose to $82.2 million, more than doubling from $39.3 million in Q2 2024, indicating improved operational leverage [2][6] - Free cash flow turned negative at $(69.4) million, a significant decline from positive $47.6 million in Q2 2024, raising concerns about cash efficiency [2][9] - Gross margin decreased from 81% in Q2 2024 to 76% in Q2 2025, attributed to changes in product mix and increased costs [6][14] Business Model and Strategy - Hims & Hers Health operates a subscription-based digital healthcare platform, providing telehealth consultations, prescription treatments, and personalized health products [3][4] - Recent strategic priorities include expanding personalized care offerings, increasing specialty support, and investing in technological infrastructure [4][8] - The company is focusing on recurring subscription revenue, with online revenue growing 75% year-over-year, while wholesale revenue declined by 10% [7] Market Expansion and Future Outlook - The company maintains its full-year 2025 revenue guidance of $2.3 billion to $2.4 billion and adjusted EBITDA of $295 million to $335 million [13] - Upcoming initiatives include expanding international presence and launching new specialties such as low testosterone and menopause support [13][14] - The partnership with Novo Nordisk for weight loss treatments is expected to enhance customer options and brand validation [11][12]

Core Points - The Ordinary Annual General Meeting of Equasens Group was held on June 25, 2025, with a quorum of 88.83% of shares with voting rights present [1] - The meeting approved the separate parent company and consolidated financial statements for the 2024 financial year [1] Voting Results Summary - **Resolution One**: Approval of the annual financial statements received 13,170,684 votes in favor, with no votes against and 2,441 abstentions [1] - **Resolution Two**: Discharge of directors and Statutory Auditors received 12,831,312 votes in favor, 339,266 votes against, and 2,547 abstentions [1] - **Resolution Three**: Approval of the consolidated financial statements received 13,170,684 votes in favor, with no votes against and 2,441 abstentions [1] - **Resolution Four**: Appropriation of earnings and setting the dividend received 13,138,631 votes in favor, 34,494 votes against [1] - **Resolution Five**: Agreements and commitments under Articles L. 225-38 received 13,101,211 votes in favor, 59,549 votes against, and 12,365 abstentions [2] - **Resolution Six**: Approval of compensation information for corporate officers received 12,507,815 votes in favor, 665,242 votes against, and 68 abstentions [2] - **Resolution Seven**: Approval of compensation for Mr. Thierry Chapusot received 13,115,547 votes in favor, 57,510 votes against, and 68 abstentions [2] - **Resolution Eight**: Approval of compensation for Mr. Denis Supplisson received 10,782,118 votes in favor, 2,390,939 votes against, and 68 abstentions [2] - **Resolution Nine**: Approval of compensation for Mr. Grégoire de Rotalier received 10,782,118 votes in favor, 2,390,939 votes against, and 68 abstentions [2] - **Resolution Ten**: Approval of compensation for Mr. Damien Valicon received 10,762,253 votes in favor, 2,410,804 votes against, and 68 abstentions [2] - **Resolution Eleven**: Approval of the compensation policy for Mr. Thierry Chapusot for 2025 received 13,115,547 votes in favor, 57,510 votes against, and 68 abstentions [3] - **Resolution Twelve**: Approval of the compensation policy for Mr. Denis Supplisson for 2025 received 10,545,572 votes in favor, 2,454,875 votes against [3] - **Resolution Thirteen**: Approval of the compensation policy for Mr. Grégoire de Rotalier for 2025 received 10,537,207 votes in favor, 2,463,240 votes against, and 172,678 abstentions [3] - **Resolution Fourteen**: Approval of the compensation policy for Mr. Damien Valicon for 2025 received 10,537,207 votes in favor, 2,463,240 votes against, and 172,678 abstentions [3] - **Resolution Fifteen**: Approval of the compensation policy for Directors received 13,127,845 votes in favor, 45,212 votes against, and 68 abstentions [3] - **Resolution Sixteen**: Setting total annual compensation for Directors for 2025 received 13,127,845 votes in favor, 45,212 votes against, and 68 abstentions [3] - **Resolution Seventeen**: Authorization to repurchase own shares received 11,297,178 votes in favor, 1,875,947 votes against [3] - **Resolution Eighteen**: Powers for formalities received 13,173,125 votes in favor, with no votes against or abstentions [3] Company Overview - Equasens Group, a leader in digital healthcare solutions, employs over 1,300 people across Europe and has been in operation for over 35 years [4][5] - The company specializes in providing applications that support healthcare professionals, including electronic equipment, digital solutions, and healthcare robotics [5][6] - Equasens Group is listed on Euronext Paris and included in various indexes such as MSCI GLOBAL SMALL CAP and CAC SMALL [7]

Core Insights - Virtual healthcare services, or telehealth, are becoming a standard in the digital healthcare space, with companies like Hims & Hers Health, Inc. (HIMS) and Teladoc Health, Inc. (TDOC) emerging as key players [1][2] Group 1: Hims & Hers Health, Inc. (HIMS) - HIMS is expanding into new specialty areas that can be treated effectively via telehealth, including weight loss, sleep disorders, and hypertension, which are prevalent among its customer base [3] - The company has announced a collaboration with Novo Nordisk to enhance accessibility and affordability of obesity care [4] - Over 65% of new subscribers in 2024 benefited from personalized products, supported by the MedMatch AI tool for customized treatment plans [5] - HIMS has shown strong stock performance, rallying 158.5% over the past year, compared to TDOC's decline of 44.3% [9] Group 2: Teladoc Health, Inc. (TDOC) - TDOC is broadening its virtual care offerings across the healthcare continuum, including primary care, chronic care, and mental health management [6] - The company has established a global distribution network, facilitating partnerships with insurers and expanding its services internationally [7] - TDOC aims to enhance its capabilities through selective acquisitions, such as the agreement to acquire Catapult Health [8] - Despite its growth, TDOC's stock has underperformed, with a decline of 29.7% over the past three months [9] Group 3: Stock Performance & Valuation - HIMS is trading at a forward price-to-sales (P/S) ratio of 3.1X, above its three-year median of 2.2X, while TDOC's forward sales multiple is at 0.5X, below its median of 1.2X [10] - The Zacks Consensus Estimate for HIMS' 2025 earnings per share suggests a 166.7% improvement from 2024, while TDOC's estimate implies an 85% improvement in loss per share [12][15] - Analysts' average price target for HIMS is $27.50, indicating a potential decline of 53.5%, while TDOC's average target is $10.90, implying a decline of 19.3% [16][18] Group 4: Investment Outlook - HIMS is viewed as a more stable investment opportunity with strong profitability and user engagement, earning a Zacks Rank 2 (Buy) [21] - TDOC, with a Zacks Rank 3 (Hold), is expanding but faces challenges in its business environment, making HIMS a more compelling choice for investors seeking lower execution risk [22]