Hyperfine, Inc., a health technology company, engages in the production, supply, service, and commercialization of magnetic resonance imaging (MRI) products. Its Swoop ...
Hyperfine, Inc. (Nasdaq: HYPR) is a pioneering health technology company founded in 2014 by Dr. Jonathan Rothberg, a serial entrepreneur known for founding innovative companies. The company is headquartered in Guilford, Connecticut, and focuses on revolutionizing patient care by making MRI technology more accessible and affordable. Its flagship product, the ...Hyperfine, Inc. (Nasdaq: HYPR) is a pioneering health technology company founded in 2014 by Dr. Jonathan Rothberg, a serial entrepreneur known for founding innovative companies. The company is headquartered in Guilford, Connecticut, and focuses on revolutionizing patient care by making MRI technology more accessible and affordable. Its flagship product, the Swoop® Portable MR Imaging System, operates at a lower magnetic field strength than conventional MRI scanners, enabling point-of-care brain imaging in settings like intensive care units, emergency departments, neurology offices, and stroke centers.
The company also offers complementary services and software, including the Hyperfine Image Viewer, a cloud-based picture archiving and communication system, and has recently launched AI-powered software to enhance image quality and clinical utility. Hyperfine sells its products through direct sales and distributors in the United States, Canada, the United Kingdom, other European and Middle Eastern markets, Australia, and New Zealand.
As of the latest data, Hyperfine has approximately 102 full-time employees. Financially, the company is pre-profitability, with negative margins and cash flows, but it has a strong current ratio and minimal debt. The company is led by CEO Maria Degois Sainz, who was appointed in October 2022. Hyperfine continues to expand its global reach, recently launching its next-generation Swoop system in Europe and introducing it in India. With a mission to democratize access to advanced diagnostic imaging, Hyperfine is at the forefront of transforming neurocritical care and expanding the use of MRI technology worldwide.
YoYYoY means Year-over-Year. It compares the latest annual value with the previous annual value to show long-term trend strength.
QoQQoQ means Quarter-over-Quarter. It compares the latest quarter with the immediately previous quarter to show short-term momentum changes.
RevenueThe total money that came through the front door from selling things, before paying a single bill. Think of it as the grand total of every credit card swipe from customers. (YoY compares this year to last year's performance, while QoQ compares the current three months to the previous three).
$13.6M
+5.2%
+0.0%
Net IncomeThe absolute bottom line. If the company paid every single supplier, employee, banker, and tax collector, this is the actual money left in their pocket at the end of the day.
$-35.6M
+12.6%
-7.8%
Gross MarginThe basic markup. If they sell a $100 pair of sneakers, this percentage tells you how much of that price tag is profit right after paying for the rubber and shoelaces, but before paying for things like store rent or TV commercials.
+49.8%
+8.9%
+0.0%
Operating MarginThe 'day job' efficiency score. Out of every dollar a customer spends, this shows how many cents the company keeps after making the product AND paying for all the everyday corporate overhead (like salaries, marketing, and keeping the lights on).
-273.4%
+18.5%
+1.1%
Net MarginThe final take-home percentage. When you strip away every conceivable cost, tax, and interest payment, this is the exact number of cents the company truly gets to keep from every dollar in sales.
-262.3%
+17.0%
-7.8%
Free Cash FlowThe holy grail of corporate cash. It's the spendable, physical money left over after the business pays for its daily operations AND buys the big, expensive upgrades (like new factories or servers) it needs to survive. This is the 'free' money they can use to pay dividends or buy back stock.
$-29.1M
+25.6%
+21.1%
FCF MarginThe ultimate cash conversion rate. It shows how good the company is at turning regular sales directly into cold, hard, spendable cash. A high percentage means the business is an absolute cash-printing machine.
-214.8%
+29.3%
+21.1%
Debt / EquityThe financial risk gauge. It compares how much of the company's empire was built using borrowed money (loans) versus the owners' own money (shareholders). A high number means they are heavily leveraged and playing a riskier game; a low number means they are playing it safe.
0.8%
+39.6%
-6.1%
Current RatioThe 12-month survival check. It simply compares the cash they have right now (plus things they can quickly turn into cash) against the immediate bills they absolutely must pay this year. A score above 1 means they have enough in the wallet to cover the upcoming bills without panicking.
4.34x
-29.5%
+11.5%
Total AssetsThe absolute size of the company's empire. It bundles together absolutely everything of value they own—from the cash in the register and the inventory in the warehouse, to the software patents in the vault and the factories on the ground.
Operator: Good afternoon, and welcome to Hyperfine's Second Quarter 2026 Earnings Conference Call. [Operator Instructions] As a reminder, this call is being recorded. I would now like to turn the call over to Webb Campbell from Gilmartin Group for introductory disclosures.
Webb Campbell: Thank you for joining today's call. Earlier today, Hyperfine, Inc. released financial results for the quarter ended June 30, 2026. A copy of the press release is available on the company's website as well as sec.gov. Before we begin, I'd like to remind you that management will make statements during this call that include forward-looking statements within the meaning of the federal securities laws and made pursuant to the safe harbor provision of the Private Securities Litigation Reform Act of 1995. Any statements contained in this call that relate to expectations or predictions of future events, results, or performance are forward-looking statements. All forward-looking statements include, without limitation, those related to our operating trends and future financial performance, expense management, market opportunity, commercial and international expansion, regulatory approvals, and product development, are based upon our current estimates and various assumptions. These statements involve material risks and uncertainties that could cause actual results or events to materially differ from those anticipated or implied by these forward-looking statements. Accordingly, you should not place undue reliance on these statements. For a list and description of the risks and uncertainties associated with our business, please refer to the risk factors section of our latest periodic filing with the Securities and Exchange Commission. This conference call contains time-sensitive information and is accurate only as of today's live broadcast. Hyperfine, Inc. disclaims any intention or obligation, except as required by law, to update or revise any financial projections or forward-looking statements, whether because of new information, future events, or otherwise. With that, I will turn the call over to Maria Sainz, President and Chief Executive Officer.
Maria Sainz: Good afternoon, and thank you for joining us on the call. With me today is our Chief Administrative Officer and Chief Financial Officer, Brett Hale. The second quarter was another strong quarter for Hyperfine as we continue to execute across our commercial, operational, and financial priorities. Second quarter revenue was $3.9 million, our second highest quarter ever, up approximately 45% year over year, bringing our first half revenue to $7.8 million. We sold 12 systems in the quarter, up 50% year over year, with a majority of placements coming from our next-generation system and a high percentage of international sales. We also delivered our 4th consecutive quarter of gross margin above 50% and improved our cash burn both year over year and sequentially. Mid last year, we launched our next-generation Swoop system …
