Hinge Health Inc
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Hinge Health Inc AI Insights
Informational only. Not investment advice.Snapshot
- Revenue grew 53% YoY (534M TTM) vs industry median 7% - 7x faster growth rate signals category leadership[Total Revenue 1Y Growth]
- FCF of 141M TTM (26% margin) despite -533M net loss - cash generation decoupled from GAAP losses[Free Cash Flow]
- R&D at 357M TTM (67% of revenue) vs 973M total opex - growth investment phase, not structural burn[Research and Development]
Watch Triggers
- Operating Margin: Improves to better than -50% — Would signal R&D leverage kicking in and path to GAAP profitability accelerating
- Total Revenue 1Y Growth: Decelerates below 30% — Growth deceleration without margin improvement would invalidate scale thesis
- Free Cash Flow: Turns negative — FCF is key proof point - negative FCF would signal model deterioration
Bull Case
79% gross margin (vs 54% median) + 53% revenue growth = SaaS-like unit economics in healthcare. FCF positive at 141M proves model works at scale.
Minimal debt (9M, 0.04 D/E) with 261M cash provides 2+ years runway without dilution even at current burn rate.
Bear Case
P/S of 7.3x vs 1.7x median (4.4x premium) prices in perfection. -553M operating loss means years of execution risk ahead.
Operating margin -103% TTM with 973M opex on 534M revenue - must nearly double revenue just to break even on operations.
Bull vs Bear Balance
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Forward Thesis
Path to profitability within 18 months as R&D leverage improves with scale
- 79% gross margin provides operating leverage runway
- R&D as % of revenue should decline with scale
- FCF already positive at 26% margin
Valuation Context
Caveats
HNGE Fundamentals
| Metric | Value | YoY Growth | Industry Percentile |
|---|---|---|---|
$5.81B | — | ||
$5.63B | — | ||
0.00 | — | ||
$646.34M | +49.8% | — | |
$-8.91 | — | ||
-81.6% | -84.5% | — | |
-79.0% | -86.3% | — | |
$202.76M | +144.3% | — | |
519% | — | ||
Beta 5Y (Monthly) | unknown | — |
HNGE Dividend History
HNGE Stock Splits
HNGE SEC Filings
| Filing Date | Report Date | Report Type | Filing Link |
|---|---|---|---|
05/07/26 | 03/31/26 | 10-Q | |
03/03/26 | 12/31/25 | Unknown | |
11/07/25 | 09/30/25 | 10-Q | |
08/11/25 | 06/30/25 | 10-Q | |
05/05/25 | 03/31/25 | S-1/A | |
05/23/25 | 03/31/25 | 424B4 | |
05/23/25 | 12/31/24 | 424B4 | |
05/23/25 | 09/30/24 | 424B4 | |
11/07/25 | 09/30/24 | 10-Q | |
08/11/25 | 06/30/24 | 10-Q | |
05/05/25 | 03/31/24 | S-1/A | |
05/23/25 | 03/31/24 | 424B4 | |
05/23/25 | 12/31/23 | 424B4 | |
05/23/25 | 09/30/23 | 424B4 | |
05/23/25 | 06/30/23 | 424B4 | |
05/23/25 | 03/31/23 | 424B4 |