Hinge Health, Inc. Financials
This page shows Hinge Health, Inc. (HNGE) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 3 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Financial Health Signals
Based on FY2025 annual data. Scores normalized against common benchmarks. How we calculate these scores
Hinge Health, Inc. has an operating margin of -92.9%, meaning the company retains $-93 of operating profit per $100 of revenue. This below-average margin results in a low score of 0/100, suggesting thin profitability after operating expenses. This is down from -8.2% the prior year.
Hinge Health, Inc.'s revenue surged 50.6% year-over-year to $587.9M, reflecting rapid business expansion. This strong growth earns a score of 100/100.
Hinge Health, Inc. has a moderate D/E ratio of 3.17. This balance of debt and equity financing earns a leverage score of 37/100.
Hinge Health, Inc.'s current ratio of 1.47 means current assets barely cover short-term liabilities. This tight liquidity results in a low score of 25/100, which could limit financial flexibility.
Hinge Health, Inc. converts 29.0% of revenue into free cash flow ($170.7M). This strong cash generation earns a score of 98/100.
Hinge Health, Inc. generates a -295.7% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 0/100.
Hinge Health, Inc. passes 4 of 9 financial strength tests. 2 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), both operating efficiency signals pass.
For every $1 of reported earnings, Hinge Health, Inc. generates $-0.32 in operating cash flow ($171.4M OCF vs -$528.3M net income). This mixed ratio suggests some earnings may rely on non-cash accounting items.
Key Financial Metrics
Earnings & Revenue
Hinge Health, Inc. generated $587.9M in revenue in fiscal year 2025. This represents an increase of 50.6% from the prior year.
Hinge Health, Inc.'s EBITDA was -$541.2M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 1984.9% from the prior year.
Hinge Health, Inc. reported -$528.3M in net income in fiscal year 2025. This represents a decrease of 4326.9% from the prior year.
Hinge Health, Inc. earned $-7.77 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 783.0% from the prior year.
Cash & Balance Sheet
Hinge Health, Inc. generated $170.7M in free cash flow in fiscal year 2025, representing cash available after capex. This represents an increase of 256.0% from the prior year.
Hinge Health, Inc. held $208.0M in cash against $0 in long-term debt as of fiscal year 2025.
Hinge Health, Inc. had 0 shares outstanding in fiscal year 2025. This represents a decrease of 100.0% from the prior year.
Margins & Returns
Hinge Health, Inc.'s gross margin was 79.7% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is up 2.8 percentage points from the prior year.
Hinge Health, Inc.'s operating margin was -92.9% in fiscal year 2025, reflecting core business profitability. This is down 84.8 percentage points from the prior year.
Hinge Health, Inc.'s net profit margin was -89.9% in fiscal year 2025, showing the share of revenue converted to profit. This is down 86.8 percentage points from the prior year.
Hinge Health, Inc.'s ROE was -295.7% in fiscal year 2025, measuring profit generated per dollar of shareholder equity.
Capital Allocation
Hinge Health, Inc. invested $368.1M in research and development in fiscal year 2025. This represents an increase of 265.1% from the prior year.
Hinge Health, Inc. spent $65.0M on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding.
Hinge Health, Inc. invested $708K in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents a decrease of 31.9% from the prior year.
HNGE Income Statement
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | N/A | $154.2M+10.9% | $139.1M | N/A | N/A | $100.6M+12.0% | $89.8M | N/A |
| Cost of Revenue | N/A | $28.0M-32.2% | $41.3M | N/A | N/A | $21.4M-8.0% | $23.2M | N/A |
| Gross Profit | N/A | $126.2M+29.1% | $97.8M | N/A | N/A | $79.3M+19.0% | $66.6M | N/A |
| R&D Expenses | N/A | $31.9M-88.6% | $280.0M | N/A | N/A | $23.8M-4.6% | $24.9M | N/A |
| SG&A Expenses | N/A | $36.9M-85.3% | $251.2M | N/A | N/A | $14.7M+2.7% | $14.4M | N/A |
| Operating Income | N/A | -$6.1M+99.0% | -$580.7M | N/A | N/A | -$3.8M+78.1% | -$17.6M | N/A |
| Interest Expense | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Income Tax | N/A | $206K+163.2% | -$326K | N/A | N/A | $1.1M+207.2% | $361K | N/A |
| Net Income | N/A | -$1.8M+99.7% | -$575.7M-3458.7% | $17.1M | N/A | $341K+102.6% | -$12.9M+51.2% | -$26.5M |
| EPS (Diluted) | N/A | $-0.02+99.8% | $-13.10 | N/A | N/A | $0.01+101.0% | $-0.96 | N/A |
HNGE Balance Sheet
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $744.8M-3.3% | $769.8M+11.0% | $693.7M | N/A | $673.3M | N/A | N/A | N/A |
| Current Assets | $533.9M-19.0% | $658.9M+10.1% | $598.4M | N/A | $583.4M | N/A | N/A | N/A |
| Cash & Equivalents | $208.0M-20.4% | $261.3M+10.2% | $237.2M | N/A | $300.8M+12.4% | $267.5M+13.1% | $236.6M | N/A |
| Inventory | $15.6M+13.2% | $13.8M-1.3% | $14.0M | N/A | $10.9M | N/A | N/A | N/A |
| Accounts Receivable | $66.1M-23.9% | $86.8M-12.6% | $99.3M | N/A | $42.5M | N/A | N/A | N/A |
| Goodwill | $64.1M0.0% | $64.1M0.0% | $64.1M | N/A | $61.6M | N/A | N/A | N/A |
| Total Liabilities | $566.1M+0.8% | $561.8M+8.1% | $519.9M | N/A | $1.1B | N/A | N/A | N/A |
| Current Liabilities | $362.4M+1.5% | $357.1M+13.7% | $314.1M | N/A | $249.3M | N/A | N/A | N/A |
| Long-Term Debt | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Equity | $178.7M-14.1% | $208.0M+19.7% | $173.8M+156.4% | -$308.3M+29.1% | -$434.6M+5.9% | -$461.8M+0.2% | -$462.6M-2.8% | -$450.2M |
| Retained Earnings | -$1.1B+3.0% | -$1.1B-0.2% | -$1.1B | N/A | -$522.7M | N/A | N/A | N/A |
HNGE Cash Flow Statement
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $63.9M-22.5% | $82.4M | N/A | N/A | $38.3M+35.0% | $28.4M | N/A | N/A |
| Capital Expenditures | $408K+684.6% | $52K | N/A | N/A | $157K-50.2% | $315K | N/A | N/A |
| Free Cash Flow | $63.5M-22.9% | $82.3M | N/A | N/A | $38.2M+36.0% | $28.1M | N/A | N/A |
| Investing Cash Flow | -$37.7M+35.8% | -$58.8M | N/A | N/A | -$3.1M-223.2% | $2.5M | N/A | N/A |
| Financing Cash Flow | -$79.5M-15080.2% | $531K | N/A | N/A | -$2.3M-12189.5% | -$19K | N/A | N/A |
| Dividends Paid | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
HNGE Financial Ratios
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | N/A | 81.8%+11.6pp | 70.3% | N/A | N/A | 78.8%+4.6pp | 74.2% | N/A |
| Operating Margin | N/A | -4.0%+413.5pp | -417.4% | N/A | N/A | -3.8%+15.7pp | -19.5% | N/A |
| Net Margin | N/A | -1.2%+412.6pp | -413.8% | N/A | N/A | 0.3%+14.7pp | -14.4% | N/A |
| Return on Equity | N/A | -0.9%+330.4pp | -331.3% | N/A | N/A | N/A | N/A | N/A |
| Return on Assets | N/A | -0.2%+82.8pp | -83.0% | N/A | N/A | N/A | N/A | N/A |
| Current Ratio | 1.47-0.4 | 1.85-0.1 | 1.91 | N/A | 2.34 | N/A | N/A | N/A |
| Debt-to-Equity | 3.17+0.5 | 2.70-0.3 | 2.99 | N/A | -2.55 | N/A | N/A | N/A |
| FCF Margin | N/A | 53.4% | N/A | N/A | N/A | 27.9% | N/A | N/A |
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Frequently Asked Questions
What is Hinge Health, Inc.'s annual revenue?
Hinge Health, Inc. (HNGE) reported $587.9M in total revenue for fiscal year 2025. This represents a 50.6% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Hinge Health, Inc.'s revenue growing?
Hinge Health, Inc. (HNGE) revenue grew by 50.6% year-over-year, from $390.4M to $587.9M in fiscal year 2025.
Is Hinge Health, Inc. profitable?
No, Hinge Health, Inc. (HNGE) reported a net income of -$528.3M in fiscal year 2025, with a net profit margin of -89.9%.
What is Hinge Health, Inc.'s EBITDA?
Hinge Health, Inc. (HNGE) had EBITDA of -$541.2M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
What is Hinge Health, Inc.'s gross margin?
Hinge Health, Inc. (HNGE) had a gross margin of 79.7% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Hinge Health, Inc.'s operating margin?
Hinge Health, Inc. (HNGE) had an operating margin of -92.9% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Hinge Health, Inc.'s net profit margin?
Hinge Health, Inc. (HNGE) had a net profit margin of -89.9% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is Hinge Health, Inc.'s return on equity (ROE)?
Hinge Health, Inc. (HNGE) has a return on equity of -295.7% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Hinge Health, Inc.'s free cash flow?
Hinge Health, Inc. (HNGE) generated $170.7M in free cash flow during fiscal year 2025. This represents a 256.0% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Hinge Health, Inc.'s operating cash flow?
Hinge Health, Inc. (HNGE) generated $171.4M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Hinge Health, Inc.'s total assets?
Hinge Health, Inc. (HNGE) had $744.8M in total assets as of fiscal year 2025, including both current and long-term assets.
What are Hinge Health, Inc.'s capital expenditures?
Hinge Health, Inc. (HNGE) invested $708K in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How much does Hinge Health, Inc. spend on research and development?
Hinge Health, Inc. (HNGE) invested $368.1M in research and development during fiscal year 2025.
What is Hinge Health, Inc.'s current ratio?
Hinge Health, Inc. (HNGE) had a current ratio of 1.47 as of fiscal year 2025, which is considered adequate.
What is Hinge Health, Inc.'s debt-to-equity ratio?
Hinge Health, Inc. (HNGE) had a debt-to-equity ratio of 3.17 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Hinge Health, Inc.'s return on assets (ROA)?
Hinge Health, Inc. (HNGE) had a return on assets of -70.9% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Hinge Health, Inc.'s Piotroski F-Score?
Hinge Health, Inc. (HNGE) has a Piotroski F-Score of 4 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Hinge Health, Inc.'s earnings high quality?
Hinge Health, Inc. (HNGE) has an earnings quality ratio of -0.32x, considered mixed quality. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
How financially healthy is Hinge Health, Inc.?
Hinge Health, Inc. (HNGE) scores 43 out of 100 on our Financial Profile, indicating moderate overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.