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  "documentTitle": "Hims & Hers Health, Inc. (HIMS)",
  "authorId": "54_Spruce_Point_Capital",
  "authorName": "Spruce Point Capital Management",
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  "sourceTypeLabel": "Short seller",
  "presentationDate": "2023-07-13 00:00:00",
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  "notes": "The slide uses a grid of six screenshots of previous charts, each marked with a large red 'X' to signify the cessation of reporting.",
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      "text": "HIMS has gradually reduced its level of business and financial disclosure since the SPAC transaction. This behavioral pattern is consistent with companies that we've analyzed in the past that have delayed bad news for investors.",
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      "text": "HIMS has gradually reduced its level of business and financial disclosure since the SPAC transaction. This behavioral pattern is consistent with companies that we've analyzed in the past that have delayed bad news for investors. We believe the primary reason for less disclosure by HIMS is the increasing difficulty executing on new categories and increasing CAC pressures.",
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      "kind": "source-note",
      "text": "Source: HIMS Q3 2022 Investor Presentation, HIMS Q4 2021 Investor Presentation, HIMS Q3 2021 Investor Presentation, HIMS SPAC Transaction Presentation, HIMS March 2022 Investor Presentation",
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      "kind": "title",
      "text": "Spruce Point Often Finds That Reduced Disclosures Precede Major Financial And Business Issues",
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      "text": "Disclosures That Have Disappeared From HIMS Presentations",
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