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HNGE

Hinge Health, Inc.

HNGE

Hinge Health, Inc. • NYSE
$48.91 ▼ -2.28% (-1.14)
Market Cap $3.85 B
52w High $62.18
52w Low $33.42
Dividend Yield 0%
P/E -8.97
Volume 961.42K
Outstanding Shares 78.72M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $154.211M ▲ $132.292M ▼ $-1.844M ▲ -1.196% ▲ $-0.023 ▲ $-374K ▲
Q2-2025 $139.098M ▲ $677.097M ▲ $-575.651M ▼ -413.846% ▼ $-7.38 ▼ $-574.634M ▼
Q1-2025 $123.825M ▲ $85.465M ▲ $17.139M ▼ 13.841% ▼ $1.55 ▲ $19.44M ▼
Q4-2024 $117.256M ▲ $74.767M ▼ $27.116M ▲ 23.125% ▲ $0.35 ▲ $26.259M ▲
Q3-2024 $100.615M $83.146M $341K 0.339% $0.004 $1.544M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $480.027M ▲ $769.802M ▲ $361.93M ▲ $407.872M ▲
Q2-2025 $413.257M ▼ $693.654M ▼ $320.002M ▲ $373.652M ▼
Q1-2025 $470.737M ▲ $712.534M ▲ $273.712M ▲ $438.822M ▲
Q4-2024 $468.373M ▲ $675.481M ▲ $258.779M ▲ $416.702M ▼
Q1-2024 $423.356M $0 $-427.278M $427.278M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-1.844M ▲ $82.398M ▲ $-58.757M ▼ $531K ▲ $24.172M ▲ $81.281M ▲
Q2-2025 $-575.651M ▼ $20.225M ▲ $4.021M ▲ $-75.558M ▼ $-51.312M ▼ $18.398M ▲
Q1-2025 $17.139M ▲ $4.925M ▲ $-21.331M ▼ $4.104M ▲ $-12.302M ▲ $4.168M ▲
Q1-2024 $-26.464M $-32.659M $16.23M $59K $-16.37M $-33.608M

Five-Year Company Overview

Income Statement

Income Statement Revenue is growing at a healthy pace, and the core business is clearly scaling. The company has moved from sizable losses toward nearly breakeven results on an operating and EBITDA basis in the most recent year. Net losses have shrunk sharply, and per‑share results have improved by a wide margin. That said, Hinge Health is still not consistently profitable yet, so its story is one of strong growth with improving but not fully proven earnings power.

Balance Sheet

Balance Sheet The balance sheet looks relatively strong for a young digital health company. Total assets have increased, with a meaningful portion sitting in cash, giving the company a useful financial cushion. Debt levels are very low, so the business is not heavily reliant on borrowing. Shareholders’ equity is stable, indicating that prior losses have not yet caused serious erosion of the capital base. Overall, HNGE appears conservatively financed with room to invest and absorb setbacks.

Cash Flow

Cash Flow Cash generation has improved notably. The business has flipped from using cash in day‑to‑day operations to generating cash, and free cash flow is now positive, helped by minimal spending on physical assets. This suggests the model is becoming more self‑funding and less dependent on outside capital. However, the track record is still short, so it remains to be seen if positive cash flow is durable through different growth and investment phases.

Competitive Edge

Competitive Edge Hinge Health operates in a fast‑growing niche of digital musculoskeletal care and has built a meaningful competitive position. Its strengths include proprietary motion‑tracking technology, a large base of employer and health plan clients, and deep integrations that make it easy for enterprises to adopt the platform. The company offers an end‑to‑end solution rather than a point product, which helps it stand out against other digital MSK providers. Scale, data, and established relationships form a real but evolving moat; at the same time, the broader digital health space is crowded and competitive, so ongoing execution will matter a lot.

Innovation and R&D

Innovation and R&D Innovation is a core pillar of Hinge Health. The company leverages computer vision and AI to track movement, generate objective joint‑health scores, and power an AI assistant that supports patients and clinicians. It combines this technology with a hybrid care model that includes physical therapists, coaches, and physicians, aiming for highly personalized care. The HingeSelect in‑person provider network further extends the digital experience into the physical world. Management appears focused on expanding AI capabilities, entering new geographies, and potentially applying its platform to additional conditions over time, which could open new growth paths but will also require sustained investment and careful execution.

Summary

Hinge Health is a high‑growth, technology‑driven healthcare company that has rapidly improved its financial profile: revenue is rising, losses are narrowing, and cash flows have turned positive, all supported by a cash‑rich, low‑debt balance sheet. Strategically, it benefits from proprietary technology, a comprehensive care model, and strong employer and health plan relationships, giving it a credible competitive edge in digital MSK care. At the same time, it remains a relatively young, still‑unproven public company in a dynamic and competitive sector. Its long‑term success will likely hinge on sustaining client growth, maintaining clinical and cost advantages, successfully rolling out new AI features and global expansion, and converting today’s improving metrics into durable profitability over time.

NEWS

November 24, 2025 · 11:00 AM UTC

Hinge Health Reduces MRIs and X-Rays for Back Pain by 60%

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November 12, 2025 · 9:00 AM UTC

Hinge Health announces $250 million share repurchase program

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November 4, 2025 · 4:05 PM UTC

Hinge Health reports third quarter 2025 financial results

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October 21, 2025 · 11:00 AM UTC

Hinge Health unveils new AI-powered care tools

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October 1, 2025 · 5:00 PM UTC

Hinge Health to announce third quarter 2025 financial results on November 4, 2025

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