Telehealth start-up Ro has hit record sales every month since expanding pharmacy business pre-pandemic

Telehealth start-up Ro has hit record sales every month since expanding pharmacy business pre-pandemic

Zachariah Reitano

Courtesy of Roman

While stuck at home during the pandemic, consumers are buying more Viagra, birth control, hair-loss treatments and many other medications over the internet. Ro is looking like one of the big winners.

Ro, a start-up that says its product suite spans "diagnosis to delivery," has reached record revenue for four straight months through May, according to a person familiar with the matter. Its pharmacy delivery service, which it piloted in March, has been growing 130% a month, said the person who asked not to be named because the numbers are confidential.

The company, which has been in business for just three years and started out by focusing on men's health, is generating $250 million in annual revenue though it isn't yet profitable, the person said. Hims, its main rival, expects to hit that revenue number as it moves into 2021. The broader category of telehealth is surging this year, with remote health provider Teladoc's stock price more than doubling and rival Amwell confidentially filing for an IPO.

Ro is using the opportunity to beef up its executive team. The company has just hired Stephen Buck, a veteran of the drug supply chain, as a vice president of pharmacy strategy. Buck, who