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Hims & Hers completed the Eucalyptus acquisition on June 2, 2026. The close upgrades the scale story, but the real proof still has to show up in international revenue mix, retention, margins, and cash flow.
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Primary-source Coverage Bootstrap of Hims & Hers, covering revenue scale, subscriber growth, GLP-1 mix shift, international expansion, cash generation, and the proof gates needed before higher conviction.
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