A moat shows up in the margins

Is the gross margin above its rivals’, year after year?

76¢

64¢

Q2 2025Q2 2026


Q2 2025	76¢
Q2 2026	64¢

Hims & Hers: cents kept from each sales dollar after product costs

Why it matters

A moat that doesn’t show in the margins is just a story. Hims now keeps 12 cents less of each sales dollar: one to watch.

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