Diagnostics Complement Hone's Model
Hone Health
The key distinction is that Hone monetizes treatment, not just information. Diagnostic startups like Superpower and Function sell a consumer the test, the dashboard, and a prevention plan, while Hone keeps billing month after month for doctor oversight, repeat lab work, dose changes, and shipped prescriptions. That makes these businesses more complementary than competitive, because they sit upstream of the point where a patient starts ongoing medication management.
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Hone built around testosterone therapy as an ongoing care workflow. The customer gets labs, sees a clinician, starts medication, adjusts dosage over time, and pays a recurring subscription plus medication add ons. That treatment loop pushed Hone to $55M annualized revenue by the end of 2023 and later to $113.5M ARR by September 2025.
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Function and Superpower are structured differently. Function charges $499 per year for broad biomarker testing, then upsells scans and specialty panels, while Superpower centers on preventive diagnostics and tailored health plans. Both are built to help a user understand what is happening in the body, not to run a long term prescription relationship.
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Specialized hormone clinics are the closer competitive set. Midi shows what that looks like on the womens side, clinicians ordering labs and imaging, prescribing hormone therapy, shipping medications, and managing follow ups. That is much nearer to Hone's operating model than a longevity diagnostics membership is.
The market is moving toward a stack where diagnostics firms generate demand and treatment platforms capture the higher value recurring care layer. As Hone expands from TRT into weight loss, thyroid, longevity, and womens health, it is becoming less a single condition clinic and more a medication driven health optimization company with multiple entry points.