ODR Daily Brief: 2026-08-15
Industry intelligence for the people who run hormone, peptide, and GLP-1 clinics. One read, then back to work.
3 items. 4-minute read.
Lead story
Hims scales TRT and waits on peptide compounding
Hims & Hers reported second-quarter results on August 10, 2026. Revenue was $753.2 million, up 38% from a year earlier. Subscribers ended the quarter at 2.891 million, up 19%. Monthly revenue per average subscriber rose 21% to $92. U.S. revenue grew 16% to $621.8 million. The remaining $131.4 million came from outside the U.S. after the June close of Eucalyptus.
Gross margin fell to 64% from 76%. The company posted a net loss of $86.3 million against net income of $42.5 million a year earlier. Full-year 2026 revenue guidance is $3.1 billion to $3.3 billion.
On the call, as recapped by Yahoo the same day, Hims said testosterone is scaling faster than any specialty outside weight loss. It plans injectable and oral TRT on the platform by year-end. Peptides stay gated. The company said it will offer them if FDA allows compounding, with a verified supply chain ready, and glutathione in the meantime as an already-allowed peptide before year-end.
The largest cash-pay telehealth platform is scaling TRT and waiting on FDA before it ships a peptide line.
Our take. Hims told the street it will sell TRT by year-end and peptides only if FDA allows compounding. Why wait, if the July vote already settled it? Because a recommendation is not a listing, and Hims is not going to be the shop that ships first on a gray lane. The largest cash-pay telehealth platform is treating the gate as real. Clinics still selling the seven as if July 24 changed the vial are competing with a company that said it will not.
The Signal
Regulatory
Louisiana told its boards they cannot block peptide practice that already clears federal rules
AmSpa on August 13 walked Louisiana SB 253, now in effect. Occupational boards must allow licensees with prescriptive authority to provide peptides, and licensed pharmacists to compound or dispense them, when the product ships from an FDA-registered 503B or a 503A pharmacy that is in compliance with federal rules. The law does not expand scope of practice. It does not put any peptide on the 503A bulks list. A Louisiana clinic still needs a federal path for the vial.
Also on the wire
PCAC's July vote is still a recommendation. Holland & Knight on August 4 recapped the July 23-24 meeting. The committee recommended six of seven nominated peptides for the 503A bulks list. Emideltide failed. These are recommendations. FDA decides later, by notice-and-comment rulemaking or a change in the statute. Nothing a pharmacy may compound changed because of the vote.
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Filed by the ODR desk.
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ODR is industry intelligence, not legal or medical advice. Decisions about your practice belong with your counsel and your medical director.