HIMS: Napoleon Begins His March Towards Russia?

Post-Q4 Earnings Commentary

Disclaimer: All information provided herein by Cedar Grove Capital Management, LLC (“Cedar Grove Capital”) is for informational purposes only and does not constitute investment advice or an offer or solicitation to buy or sell an interest in a private fund or any other security. An offer or solicitation of an investment in a private fund will only be made to accredited investors pursuant to a private placement memorandum and associated documents.

Cedar Grove Capital may change its views about or its investment positions in any of the securities mentioned in this document at any time, for any reason or no reason.

Students can get access to our research at a reduced rate by clicking here.

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Hims and Hers Health (HIMS) has been quite the story this year and it’s barely been two months. We’ve put together our report post-Q4 earnings for you all, highlighting our skepticism of management achieving guidance without massively abusing the personalized loophole.

We are short HIMS and our 20-page report highlights the six topics we break down as you can see on page 1.

As a reminder, the work we share with you all is work that we’re incredibly proud of. Our coverage of this name has been very thorough, well thought out, and backed by data and in-depth research, coupled with working at their competitor previously.

If you have enjoyed our continued coverage, and this report as well, please consider sharing our newsletter with others who are looking for high-quality work.

As always, if you have any questions, don’t hesitate to reach out.

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Please find the downloadable report after the disclaimer below.

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Until next time,

Paul Cerro | Cedar Grove Capital

Personal Twitter: @paulcerro

Fund Twitter: @cedargrovecm

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Disclaimer: All information provided herein by Cedar Grove Capital Management, LLC (“Cedar Grove Capital”) is for informational purposes only and does not constitute investment advice or an offer or solicitation to buy or sell an interest in a private fund or any other security. An offer or solicitation of an investment in a private fund will only be made to accredited investors pursuant to a private placement memorandum and associated documents.

Cedar Grove Capital may change its views about or its investment positions in any of the securities mentioned in this document at any time, for any reason or no reason. Cedar Grove Capital may buy, sell, or otherwise change the form or substance of any of its investments. Cedar Grove Capital disclaims any obligation to notify the market of any such changes.

The enclosed material is confidential and not to be reproduced or redistributed in whole or in part without the prior written consent of Cedar Grove Capital. The information in this material is only current as of the date indicated and may be superseded by subsequent market events or for other reasons. Statements concerning financial market trends are based on current market conditions, which will fluctuate. Any statements of opinion constitute only current opinions of Cedar Grove Capital which are subject to change and which Cedar Grove Capital does not undertake to update. Due to, among other things, the volatile nature of the markets, and an investment in the fund/partnership may only be suitable for certain investors. Parties should independently investigate any investment strategy or manager, and should consult with qualified investment, legal and tax professionals before making any investment.