Il Makiage parent Oddity takes aim at Hims with new telehealth skincare platform Methodiq

Oddity, parent of Il Makiage, launched Methodiq — a telehealth medical‑skincare brand with 28 prescription and OTC products priced roughly $29–$59 targeting acne, hyperpigmentation and eczema — leveraging its AI/computational‑imaging and biotech investments (Voyage81, Revela/Oddity Labs) to address a projected $113bn medical‑skincare market and directly compete with Hims. Methodiq combines facial scans and clinician review (U.S.‑based doctors, not all board‑certified dermatologists) with curated prescription kits such as Clindalaq (tretinoin plus agents to reduce irritation) and a chat‑based follow‑up model; Oddity says initial sales will be small and aren’t included in its 2025/2026 guidance, though it sees long‑term upside if it expands beyond dermatology. Key risks include heavy regulation, competitive telehealth dynamics, scalability and patient safety/consent concerns highlighted by recent scrutiny of peer telehealth providers, making execution and trust critical for realizing the brand’s revenue potential.

Analysis

Oddity, parent of Il Makiage, launched Methodiq, a telehealth medical‑skincare brand with 28 prescription and OTC products priced at roughly $29–$59 targeting acne, hyperpigmentation and eczema. The platform integrates Voyage81’s AI computational imaging and Revela/Oddity Labs’ biotech with a facial‑scan plus clinician‑review model and aims to monetize Oddity’s stated 60 million user base while addressing a Research and Markets–estimated $113 billion medical‑skincare market. The move positions Oddity as a direct competitor to telehealth dermatology players such as Hims.

Methodiq delivers recurring kits that can include standard medications (for example doxycycline) and proprietary formulations such as Clindalaq (tretinoin combined with hydrocortisone, aloe and vitamin E) and offers chat‑based follow up; clinicians will be U.S.-based but not all will be board‑certified dermatologists. Management excluded Methodiq from its 2025/2026 guidance, expecting initial sales to be small, while describing longer‑term “enormous” revenue potential and benchmarking the category against Hims’ stated ambitions. CNBC product testing noted formulation and sensory differences versus generic pharmacy creams that could aid consumer adoption.

Key risks are regulatory scrutiny of pharmaceutical telehealth, scaling safety and clinician oversight, competitive intensity, and reputational exposure highlighted by a Wall Street Journal investigation into Hims’ patient side effects. Sentiment signals are mildly positive for ODD (0.3) and negative for HIMS (−0.4) with a modest market‑impact score (0.32), indicating limited immediate market reaction but significant medium‑term binary outcomes tied to safety and compliance. Near‑term catalysts to watch are Oddity’s upcoming 2025 Q3 results and early Methodiq adoption, unit economics and adverse‑event reporting.

Key Decisions for Investors

• Monitor Oddity’s 2025 Q3 results and any disclosed Methodiq KPIs (units sold, repeat kit rates, conversion from existing users, and patient adverse event reports) before increasing exposure to ODD
• Prioritize assessment of Methodiq’s clinical and regulatory controls (safety reporting, prescribing oversight, compliance with state telemedicine/pharmacy rules) and treat failure to demonstrate robust protocols as a sell or reduce trigger
• Consider limited, size‑constrained exposure to ODD for long‑term optionality given its AI/biotech assets, hedge around regulatory and reputational event risk, and avoid meaningful position increases until product adoption and unit economics are visible
• Reassess HIMS exposure in light of WSJ scrutiny and negative sentiment; wait for clearer safety disclosures or corrective actions before adding to positions