What explains the volatility in HIMS's R&D spending recently?

The volatility in HIMS's R&D spending can be attributed to several factors: 1. **Strategic Diversification**: HIMS has been expanding its product offerings and telehealth capabilities. This strategic move likely led to a significant increase in R&D expenses as the company invested in new product development and telehealth platform enhancements. 2. **Financial Capacity**: The company's financial position and growth prospects may influence R&D spending. HIMS's strong revenue growth and positive adjusted EBITDA margins could have provided the financial cushion needed to increase R&D expenses. 3. **Regulatory and Market Adaptation**: The FDA's ruling on compounded versions of GLP-1 inhibitors and the introduction of new weight-loss drugs may have prompted HIMS to adjust its R&D focus or accelerate product development in response to regulatory changes and market demands. In conclusion, HIMS's R&D spending volatility is a result of a combination of strategic initiatives, financial capacity, and regulatory and market adaptations.