TRT stickiness fuels Hone growth
Hone Health
This claim points to why Hone can spend like a consumer telehealth company but earn back customers more like a chronic care clinic. The average customer is not just buying a one time refill. They are paying a monthly membership, then layering on testosterone and other add ons, while staying engaged because TRT usually involves ongoing blood work, dosage changes, and long duration treatment. That creates a larger revenue stream per patient than ED telehealth, where generic substitutes make switching easy.
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Hone’s base plan starts at $129 per month and add ons like testosterone injections at $28 per month and anastrozole at $22 per month push average order value above $150. That means even before expansion into newer categories, a retained TRT customer is worth materially more than the roughly $99 average monthly order value seen at Hims in earlier comparison sets.
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Retention is stronger because TRT is operationally heavier and clinically stickier. Hone has to coordinate labs, review biomarkers, run physician consults, and adjust dosage over time. Ro and Hims built around simpler, high volume flows where a patient can answer a questionnaire and receive generic ED meds, which contributed to roughly 50 percent yearly churn in those businesses.
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That higher lifetime value becomes a platform advantage. Hone used the recurring blood test and consult relationship that started with TRT to expand into women’s hormones, weight loss, metformin, glutathione, and other longevity products, helping grow estimated ARR from about $55M in 2023 to $113.5M by September 2025.
Going forward, the important question is less whether Hone can keep selling TRT, and more how much of a longitudinal hormone and longevity wallet it can capture from the same patient. The more categories it adds onto the lab plus consult loop, the more its economics should diverge from commodity telehealth and resemble a specialized recurring care model.