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  "documentTitle": "Hims & Hers Health, Inc. (HIMS)",
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  "authorName": "Spruce Point Capital Management",
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  "presentationDate": "2023-07-13 00:00:00",
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  "notes": "Includes a quote-based contradiction between the CEO and a former executive.",
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      "text": "While some may argue that HIMS' prescription product pricing includes the cost of the consultation and prescription, we find that HIMS' over-the-counter products, which are highly commoditized with dozens of substitutes, are also priced at unjustifiable premiums.",
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      "text": "price premium: 88%",
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      "text": "While some may argue that HIMS' prescription product pricing includes the cost of the consultation and prescription, we find that HIMS' over-the-counter products, which are highly commoditized with dozens of substitutes, are also priced at unjustifiable premiums.",
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      "text": "We believe our brand is one of the most important long term differentiators.",
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      "text": "Our CEO, our leadership never really seemed that concerned with those direct competitors... they're not really offering anything special.",
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      "text": "\"We believe our brand is one of the most important long term differentiators.\" — CEO Dudum on Q1 2022 Earnings Call; \"Our CEO, our leadership never really seemed that concerned with those direct competitors. The, the viewpoint was that there's plenty of space in the market. We're gonna win the brand battle...Their younger customer base may become a little more price conscious and realize, hey, this is a great brand, but they're not really offering anything special.\" — Spruce Point Interview With Former HIMS Executive",
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      "text": "Source: Spruce Point Research and HIMS Q1 2022 Conf Call",
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      "text": "Price Comparison of Over-the-Counter Products",
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      "text": "Our Belief Is That HIMS' Undifferentiated OTC Products Are Also Priced Uncompetitively",
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