Hyperfine (Nasdaq: HYPR) grows Q2 2026 revenue 44.8% as cash rises to $43.5M
Rhea-AI Filing Summary
Hyperfine, Inc. reported higher revenue and system placements for the second quarter ended June 30, 2026. Revenue was $3.9 million, up 44.8% from $2.7 million a year earlier, alongside 12 commercial Swoop® systems sold versus 8 in 2025. Gross profit rose to $2.0 million with a 50.7% gross margin. Operating expenses totaled $10.4 million, with lower research and development spending, and the company recorded a net loss of $9.3 million, or $0.09 per share, similar to the prior year.
Cash and cash equivalents were $43.5 million as of June 30, 2026, up from $35.1 million at year-end, primarily reflecting financing activities completed during the first half of 2026. Management continues to expect 2026 revenue of approximately $20–$22 million and cash burn of approximately $26–$28 million. Hyperfine also reported CE Mark and UKCA approvals and the European launch of its next-generation Swoop® portable MRI system, plus record U.S. scan volumes.
Positive
- Q2 2026 revenue grew 44.8% year over year to $3.9 million, alongside an increase in Swoop® system sales to 12 units from 8 a year earlier.
- Management expects full-year 2026 revenue of $20–$22 million, a 55% increase at the midpoint versus 2025, and projects full-year cash burn of $26–$28 million, a 10% decline at the midpoint.
- Hyperfine obtained CE Marking and UKCA approval for its next-generation Swoop® system and latest Optive AI™ software and launched the system in Europe with initial systems sold.
Negative
- Hyperfine remains loss-making, reporting a Q2 2026 net loss of $9.3 million and forecasting full-year 2026 cash burn of $26–$28 million.
Filing Explained
By June 30, ATM stock issuance had diluted existing holders absent offsetting changes, while debt proceeds added borrowing; proceeds were $11,375 thousand and $13,641 thousand.
Hyperfine used this Form 8-K to report its second-quarter results and related material financing activity; the financing was already recorded for the six months ended
The cash-flow statement records
At
8-K Event Classification
Key Figures
Key Terms
CE Marking regulatory
gross margin financial
warrant liabilities financial
at-the-market offering program financial
portable, ultra-low-field, magnetic resonance brain imaging system medical
Earnings Snapshot
Management expects full-year 2026 revenue of approximately $20 to $22 million and cash burn of approximately $26 to $28 million, representing 55% revenue growth and a 10% decline in cash burn at the respective midpoints compared to full-year 2025.
AI-generated analysis. How Rhea-AI works. Not financial advice.
FAQ
How did Hyperfine (HYPR) perform financially in Q2 2026?
What guidance did Hyperfine (HYPR) give for full-year 2026 revenue and cash burn?
What is Hyperfine (HYPR)'s cash and debt position as of June 30, 2026?
How many Swoop systems did Hyperfine (HYPR) sell in Q2 2026, and how is adoption trending?
What recent regulatory milestones has Hyperfine (HYPR) achieved for the Swoop system?
What are the key operating expense trends for Hyperfine (HYPR) in Q2 2026?
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): |
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Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
Securities registered pursuant to Section 12(b) of the Act:
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Trading |
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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).
Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.
Item 2.02 Results of Operations and Financial Condition.
On August 6, 2026, Hyperfine, Inc. issued a press release announcing its results for the second quarter ended June 30, 2026 and providing a business update. A copy of the press release is furnished as Exhibit 99.1 hereto.
The information in this Current Report on Form 8-K (including Exhibit 99.1) shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as expressly set forth by specific reference in such a filing.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
Exhibit Number |
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Description |
99.1 |
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Press Release dated August 6, 2026 |
104 |
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Cover Page Interactive Data File (embedded within the Inline XBRL document) |
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The press release may contain hypertext links to information on our website. The information on our website is not incorporated by reference into this Current Report on Form 8-K and does not constitute a part of this Form 8-K.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
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HYPERFINE, INC. |
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Date: |
August 6, 2026 |
By: |
/s/ Brett Hale |
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Brett Hale |
Exhibit 99.1
Hyperfine, Inc. Reports Second Quarter 2026 Financial Results
GUILFORD, Connecticut, August 6, 2026 (GLOBE NEWSWIRE) – Hyperfine, Inc. (Nasdaq: HYPR), the groundbreaking health technology company that has redefined brain imaging with the first FDA-cleared AI-powered portable magnetic resonance (MR) brain imaging system—the Swoop® system—today announced second quarter 2026 financial results and provided a business update.
“Q2 was another strong quarter for Hyperfine, marked by solid growth in placements and revenue, continued gross margin expansion, disciplined operating expense management, and a strengthened balance sheet. One year into the launch of the next-generation Swoop® system and our entry into the neurology office market, we are seeing broader use across care settings and international markets. We are executing on our strategy to expand MRI access across sites of care, increase the clinical utility of our technology, and broaden our international reach. With record U.S. scan volume, continued momentum across hospital and office settings, and international commercial progress, portable brain MRI is moving from early adoption toward broader mainstream clinical use,” said Maria Sainz, Chief Executive Officer and President of Hyperfine, Inc.
Recent Achievements and Business Highlights
Second Quarter 2026 Financial Results
2026 Financial Guidance
1Cash burn is calculated as change in cash and cash equivalents less net financing proceeds.
Conference Call
Hyperfine, Inc. will host a conference call at 1:30 p.m. PT/ 4:30 p.m. ET on Thursday, August 6, 2026 to discuss its second quarter 2026 financial results and provide a business update. Those interested in listening should register online by visiting https://investors.hyperfine.io/ and clicking on News & Events. Participants are encouraged to register more than 15 minutes before the start of the call. A live and archived audio webcast will be available through the Investors page of Hyperfine, Inc.’s corporate website at https://investors.hyperfine.io/.
About Hyperfine, Inc. and the Swoop® Portable MR Imaging® Systems
Hyperfine, Inc. (Nasdaq: HYPR) is the groundbreaking health technology company that has redefined brain imaging with the Swoop® system—the first U.S. Food and Drug Administration (FDA)-cleared, portable, ultra-low-field, magnetic resonance brain imaging system capable of providing imaging at multiple points of professional care. The mission of Hyperfine, Inc. is to revolutionize patient care globally through transformational, accessible, clinically relevant diagnostic imaging. Founded by Dr. Jonathan Rothberg in a technology-based incubator called 4Catalyzer, Hyperfine, Inc. scientists, engineers, and physicists developed the Swoop® system out of a passion for redefining brain imaging methodology and how clinicians can apply accessible diagnostic imaging to patient care. For more information, visit hyperfine.io.
The Swoop® Portable MR Imaging® systems are FDA cleared for brain imaging of patients of all ages. They are portable, ultra-low-field magnetic resonance imaging devices for producing images that display the internal structure of the head where full diagnostic examination is not clinically practical. When interpreted by a trained physician, these images provide information that can be useful in determining a diagnosis. The Swoop® system also has CE Mark in the European Union and UKCA Mark in the United Kingdom. The Swoop® system is commercially available in a select number of international markets.
Hyperfine, Swoop, and Portable MR Imaging are registered trademarks of Hyperfine, Inc.
Forward-Looking Statements
This press release includes “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Actual results of Hyperfine, Inc. (the “Company”) may differ from its expectations, estimates and projections and consequently, you should not rely on these forward-looking statements as predictions of future events. Words such as “expect,” “estimate,” “project,” “budget,” “forecast,” “anticipate,” “intend,” “plan,” “may,” “will,” “could,” “should,” “believes,” “predicts,” “potential,” “continue,” and similar expressions (or the negative versions of such words or expressions) are intended to identify such forward-looking statements. These forward-looking statements include, without limitation, expectations about the Company’s financial and operating results, including, the Company’s expected revenue and cash burn for the full year 2026, the Company's cash runway, the Company’s goals and commercial plans, including the Company’s commercial rollout of the Company’s Optive AITM software and next generation Swoop® system, the acceleration of the adoption of the Swoop® system across multiple sites of care in the hospital, neurology office and international markets, the benefits of the Company’s products and services, progress on improvements and advancements in the Company’s products and services, and the Company’s future performance, including its financial performance, and its ability to implement its strategy. These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from the expected results. Most of these factors are outside of the Company’s control and are difficult to predict. Factors that may cause such differences include, but are not limited to: the success, cost and timing of the Company’s product development and commercialization activities, including the degree that the Swoop® system is accepted and used by healthcare professionals; the Company’s ability to grow and manage growth profitably and retain its key employees; changes in applicable laws or regulations; the ability of the Company to raise financing in the future; the ability of the Company to obtain and maintain regulatory clearance or approval for its products, and any related restrictions and limitations of any cleared or approved product; the ability of the Company to identify, in-license or acquire additional technology; the ability of the Company to maintain its existing or future license, manufacturing, supply and distribution agreements and to obtain adequate supply of its products; existing and potential future National Institutes of Health funding pressures; existing and potential future effects from U.S. export controls and tariffs; the ability of the Company to compete with other companies currently marketing or engaged in the development of products and services that the Company is currently marketing or developing; the size and growth potential of the markets for the Company’s products and services, and its ability to serve those markets, either alone or in partnership with others; the pricing of the Company’s products and services and reimbursement for medical procedures conducted using the Company’s products and services; the Company’s ability to successfully complete and generate positive data from the PRIME study, ACTION PMR study, Contrast PMR study, CARE PMR study and NEURO PMR study; the Company’s ability to generate clinical evidence of the benefits of the Company’s products and services and to progress
on product advancements and improvements; the Company’s estimates regarding expenses, revenue, capital requirements and needs for additional financing; the Company’s financial performance; and other risks and uncertainties indicated from time to time in the Company’s filings with the Securities and Exchange Commission, including those under “Risk Factors” therein. The Company cautions readers that the foregoing list of factors is not exclusive and that readers should not place undue reliance upon any forward-looking statements which speak only as of the date made. The Company does not undertake or accept any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements to reflect any change in its expectations or any change in events, conditions or circumstances on which any such statement is based.
Investor Contact
Webb Campbell
Gilmartin Group LLC
webb@gilmartinir.com
HYPERFINE, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED BALANCE SHEETS
(in thousands, except share and per share amounts)
(Unaudited)
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June 30, |
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December 31, |
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ASSETS |
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CURRENT ASSETS: |
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Cash and cash equivalents |
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$ |
43,458 |
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$ |
35,085 |
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Restricted cash |
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1,306 |
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957 |
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Accounts receivable, less allowance of $495 and $1,372 as of June 30, 2026 and December 31, 2025, respectively |
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4,217 |
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5,254 |
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Unbilled receivables |
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1,572 |
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1,268 |
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Inventories |
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6,789 |
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7,090 |
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Prepaid expenses and other current assets |
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1,899 |
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1,255 |
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Total current assets |
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59,241 |
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50,909 |
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Property and equipment, net |
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2,262 |
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2,549 |
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Other long term assets |
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1,496 |
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1,804 |
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Total assets |
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$ |
62,999 |
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$ |
55,262 |
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LIABILITIES AND STOCKHOLDERS’ EQUITY |
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CURRENT LIABILITIES: |
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Accounts payable |
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$ |
2,422 |
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$ |
4,051 |
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Deferred grant funding |
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1,306 |
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957 |
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Deferred revenue |
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1,661 |
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1,544 |
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Due to related parties |
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61 |
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50 |
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Accrued expenses and other current liabilities |
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4,179 |
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5,130 |
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Total current liabilities |
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9,629 |
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11,732 |
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Long-term debt, net |
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13,235 |
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— |
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Warrant liabilities |
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2,542 |
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1,730 |
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Long term deferred revenue |
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835 |
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729 |
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Other noncurrent liabilities |
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— |
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66 |
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Total liabilities |
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26,241 |
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14,257 |
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STOCKHOLDERS’ EQUITY |
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Class A Common stock, $0.0001 par value per share; 600,000,000 shares authorized; 90,987,381 and 82,166,458 shares issued and outstanding at June 30, 2026 and December 31, 2025, respectively |
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9 |
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8 |
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Class B Common stock, $0.0001 par value per share; 27,000,000 shares authorized; 15,055,288 shares issued and outstanding at June 30, 2026 and December 31, 2025, respectively |
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2 |
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2 |
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Additional paid-in capital |
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384,684 |
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371,011 |
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Accumulated deficit |
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(347,937 |
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(330,016 |
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Total stockholders’ equity |
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36,758 |
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41,005 |
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TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY |
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$ |
62,999 |
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$ |
55,262 |
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HYPERFINE, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENT OF OPERATIONS AND COMPREHENSIVE LOSS
(in thousands, except share and per share amounts)
(Unaudited)
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Three Months Ended |
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Six Months Ended |
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2026 |
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2025 |
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2026 |
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2025 |
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Sales |
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Device |
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$ |
3,170 |
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$ |
2,128 |
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$ |
6,427 |
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|
$ |
3,650 |
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Service |
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|
734 |
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568 |
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1,380 |
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1,183 |
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Total sales |
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$ |
3,904 |
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$ |
2,696 |
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$ |
7,807 |
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$ |
4,833 |
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Cost of sales |
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Device |
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$ |
1,603 |
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$ |
1,097 |
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$ |
3,249 |
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$ |
2,082 |
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Service |
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321 |
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271 |
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599 |
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540 |
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Total cost of sales |
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$ |
1,924 |
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$ |
1,368 |
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$ |
3,848 |
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$ |
2,622 |
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Gross profit |
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1,980 |
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1,328 |
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3,959 |
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2,211 |
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Operating Expenses: |
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Research and development |
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$ |
3,865 |
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$ |
4,541 |
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$ |
7,710 |
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$ |
9,578 |
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General and administrative |
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3,907 |
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|
|
3,859 |
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|
|
8,037 |
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|
|
8,067 |
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Sales and marketing |
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2,677 |
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|
|
2,523 |
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|
|
5,239 |
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|
|
5,063 |
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Total operating expenses |
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$ |
10,449 |
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$ |
10,923 |
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$ |
20,986 |
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$ |
22,708 |
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Loss from operations |
|
$ |
(8,469 |
) |
|
$ |
(9,595 |
) |
|
$ |
(17,027 |
) |
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$ |
(20,497 |
) |
Interest income |
|
$ |
272 |
|
|
$ |
239 |
|
|
$ |
526 |
|
|
$ |
556 |
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Interest expense |
|
|
(533 |
) |
|
|
— |
|
|
|
(616 |
) |
|
|
— |
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Change in fair value of warrant liabilities |
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(571 |
) |
|
|
46 |
|
|
|
(812 |
) |
|
|
1,664 |
|
Other income (expense), net |
|
|
3 |
|
|
|
85 |
|
|
|
8 |
|
|
|
(366 |
) |
Loss before provision for income taxes |
|
$ |
(9,298 |
) |
|
$ |
(9,225 |
) |
|
$ |
(17,921 |
) |
|
$ |
(18,643 |
) |
Provision for income taxes |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
Net loss and comprehensive loss |
|
$ |
(9,298 |
) |
|
$ |
(9,225 |
) |
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$ |
(17,921 |
) |
|
$ |
(18,643 |
) |
Net loss per common share attributable to common stockholders, basic and diluted |
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$ |
(0.09 |
) |
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$ |
(0.12 |
) |
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$ |
(0.18 |
) |
|
$ |
(0.24 |
) |
Weighted-average shares used to compute net loss per share attributable to common stockholders, basic and diluted |
|
|
99,797,156 |
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|
|
78,077,118 |
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|
|
98,751,951 |
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|
|
76,893,733 |
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HYPERFINE, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS
(in thousands)
(Unaudited)
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Six Months Ended |
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2026 |
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2025 |
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Cash flows from operating activities: |
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Net loss |
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$ |
(17,921 |
) |
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$ |
(18,643 |
) |
Adjustments to reconcile net loss to net cash used in operating activities: |
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Depreciation |
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|
538 |
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|
512 |
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Stock-based compensation expense |
|
|
1,550 |
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|
1,492 |
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Loss on disposal of property and equipment, net |
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6 |
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— |
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Change in fair value of warrant liabilities |
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812 |
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(1,664 |
) |
Amortization of debt discount and issuance costs |
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|
129 |
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|
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— |
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Other |
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|
16 |
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|
|
15 |
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Changes in assets and liabilities: |
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Accounts receivable, net |
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1,037 |
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|
|
899 |
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Unbilled receivables |
|
|
(304 |
) |
|
|
457 |
|
Inventory |
|
|
274 |
|
|
|
733 |
|
Prepaid expenses and other current assets |
|
|
(669 |
) |
|
|
(749 |
) |
Other long term assets |
|
|
170 |
|
|
|
(34 |
) |
Accounts payable |
|
|
(1,603 |
) |
|
|
1,339 |
|
Deferred grant funding |
|
|
349 |
|
|
|
130 |
|
Deferred revenue |
|
|
223 |
|
|
|
(230 |
) |
Due to related parties |
|
|
11 |
|
|
|
(2 |
) |
Accrued expenses and other current liabilities |
|
|
(897 |
) |
|
|
(1,404 |
) |
Operating lease liabilities, net |
|
|
3 |
|
|
|
(10 |
) |
Net cash used in operating activities |
|
$ |
(16,276 |
) |
|
$ |
(17,159 |
) |
Cash flows from investing activities: |
|
|
|
|
|
|
||
Purchases of property and equipment |
|
|
(272 |
) |
|
|
(992 |
) |
Net cash used in investing activities |
|
$ |
(272 |
) |
|
$ |
(992 |
) |
Cash flows from financing activities: |
|
|
|
|
|
|
||
Proceeds from issuance of debt, net |
|
$ |
13,641 |
|
|
$ |
— |
|
Proceeds from exercise of stock options |
|
|
254 |
|
|
|
37 |
|
Proceeds from issuance of Class A common stock under “at-the-market” offering program, net |
|
|
11,375 |
|
|
|
835 |
|
Proceeds from issuance of Class A common stock with warrants under February 2025 Offering, net |
|
|
— |
|
|
|
5,184 |
|
Net cash provided by financing activities |
|
$ |
25,270 |
|
|
$ |
6,056 |
|
Net increase (decrease) in cash and cash equivalents and restricted cash |
|
|
8,722 |
|
|
|
(12,095 |
) |
Cash, cash equivalents and restricted cash, beginning of period |
|
|
36,042 |
|
|
|
37,673 |
|
Cash, cash equivalents and restricted cash, end of period |
|
$ |
44,764 |
|
|
$ |
25,578 |
|
Reconciliation of cash, cash equivalents, and restricted cash reported in the balance sheets |
|
|
|
|
|
|
||
Cash and cash equivalents |
|
$ |
43,458 |
|
|
$ |
25,420 |
|
Restricted cash |
|
|
1,306 |
|
|
|
158 |
|
Total cash, cash equivalents and restricted cash |
|
$ |
44,764 |
|
|
$ |
25,578 |
|
Supplemental disclosure of noncash information: |
|
|
|
|
|
|
||
Issuance of warrants in connection with Loan Agreement, net |
|
$ |
495 |
|
|
$ |
— |
|
Initial measurement of warrant liabilities |
|
$ |
— |
|
|
$ |
2,858 |
|
Unpaid purchase of property and equipment |
|
$ |
5 |
|
|
$ |
86 |
|
Noncash acquisition of fixed assets |
|
$ |
27 |
|
|
$ |
— |
|
Unpaid debt issuance and financing costs |
|
$ |
15 |
|
|
$ |
2 |
|