Want to see HNGE full AI Analyst Report?
Top Page
Hinge Health, Inc. Class A
(NYSE:HNGE)
Select Model
Select Model
Rating:73Outperform
Price Target:
$91.00
▲(110.06% Upside)
Action:Reiterated
Date:06/30/26
HNGE scores well overall primarily due to improving cash generation, low leverage, and a highly positive earnings-call read-through with raised guidance and margin expansion. Offsetting these strengths are elevated earnings-quality concerns from the prior sharp net-loss deterioration and limited valuation support given a negative P/E, while technical signals cannot be fully assessed due to missing indicator data.
Positive Factors
Material improvement in cash generation
A sustained swing to strong operating and free cash flow provides durable internal financing for growth initiatives, reduces dependence on external capital, and supports capital returns and strategic device investment. Strong FCF underpins resilience even if GAAP earnings remain volatile.
Negative Factors
Severe earnings volatility and large 2025 accounting loss
A dramatic swing to a very large net loss raises earnings‑quality concerns: substantial non‑cash charges, one‑time items, or a cost ramp cloud the view on normalized margins. This complicates multi‑period forecasting, capital allocation, and investors' ability to rely on reported earnings sustainability.
Read all positive and negative factors
Positive Factors
Negative Factors
Material improvement in cash generation
A sustained swing to strong operating and free cash flow provides durable internal financing for growth initiatives, reduces dependence on external capital, and supports capital returns and strategic device investment. Strong FCF underpins resilience even if GAAP earnings remain volatile.
Read all positive factors
Hinge Health, Inc. Class A (HNGE) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$6.87B
Dividend YieldN/A
Average Volume (3M)2.22M
Price to Earnings (P/E)―
Beta (1Y)1.42
Revenue Growth49.78%
EPS Growth-477.12%
CountryUS
Employees1,514
SectorHealthcare
Sector Strength45
IndustryMedical - Healthcare Information Services
Share Statistics
EPS (TTM)-6.58
Shares Outstanding54,655,926
10 Day Avg. Volume1,721,639
30 Day Avg. Volume2,218,391
Financial Highlights & Ratios
PEG Ratio>-0.01
Price to Book (P/B)9.72
Price to Sales (P/S)6.26
P/FCF Ratio21.54
Enterprise Value/Market Cap0.73
Enterprise Value/Revenue7.75
Enterprise Value/Gross Profit9.58
Enterprise Value/Ebitda-9.59
Forecast
1Y Price Target
$84.00Price Target Upside93.91% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering15
EPS Forecast (FY)2.59
Revenue Forecast (FY)$821.03M
Hinge Health, Inc. Class A Business Overview & Revenue Model
Company Description
Established in 2012 and headquartered in San Francisco, California, Hinge Health, Inc. creates specialized healthcare software solutions for musculoskeletal and joint health. Their advanced platform is designed to comprehensively manage a spectrum...
How the Company Makes Money
null...
Hinge Health, Inc. Class A Earnings Call Summary
Earnings Call Date:May 05, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Aug 04, 2026
Earnings Call Sentiment Positive
The call conveyed strong operational and financial momentum: a material revenue beat, double-digit growth in billings, substantial margin expansion, strong free cash flow, raised full-year guidance, rapid client uptake of the new migraine program following FDA clearance, and expanding commercial traction (including SMB and Hinge Select). Headwinds and risks include limited near-term revenue from migraine (meaningful benefit expected in 2027), concentration of new bookings in the back half of the year, continued device-related cost pressures as Enso distribution scales, and a deliberate decision to forgo the CMS ACCESS program. Overall, the positives (robust growth, margin expansion, guidance raise, product and commercial wins) substantially outweigh the near-term lowlights and risks.Positive Updates
Revenue Beat and Strong Top-Line Growth
Q1 revenue of $182M, up 47% year-over-year from $124M, materially above company guidance of $171M–$173M.
Negative Updates
Limited Near-Term Revenue from Migraine
Company expects minimal revenue contribution from the newly launched migraine program in 2026, with more meaningful impact anticipated beginning in 2027.
Read all updates
Q1-2026 Updates
Positive
Negative
Revenue Beat and Strong Top-Line Growth
Q1 revenue of $182M, up 47% year-over-year from $124M, materially above company guidance of $171M–$173M.
Read all positive updates
Company Guidance
The company raised its full-year outlook after a strong Q1: revenue was $182M (+47% YoY vs $124M and above prior guidance of $171–173M), LTM calculated billings were $770M (+52% YoY vs $507M), gross margin was 85% (up 400 bps from 81%), operating income was $46M (25% operating margin, versus prior guidance of $30–32M), and free cash flow was $42M (10x YoY; FCF margin 23%). Q2 guidance is revenue $104M–$196M with income from operations $47M–$49M (25% margin at midpoint), and full‑year 2026 revenue was raised to $798M–$804M (midpoint $801M, ~36% YoY vs prior $732–742M) with operating income $205M–$215M (26% margin at midpoint, up from prior $151–156M). Other key metrics: yield is trending slightly north of 4%, ~80% of contracted lives are on the engagement‑based pricing model, roughly half the guidance upside is from yield and half from lives growth, cash on hand was $407M, the company repurchased 2.5M shares for $105M (diluted share count ~82.4M in Q1; guidance to end 2026 at 82–84M), and Enso device distribution is being increased (2025 was ~2x 2024; 2026 planned ~+40% vs 2025).Hinge Health, Inc. Class A Financial Statement Overview
Summary
Income Statement
36
Negative
Balance Sheet
74
Positive
Cash Flow
78
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 |
|---|---|---|---|---|
Income Statement | ||||
| Total Revenue | 646.34M | 587.86M | 390.40M | 292.73M |
| Gross Profit | 522.41M | 469.30M | 300.59M | 194.18M |
| EBITDA | -521.92M | -535.89M | -22.08M | -128.39M |
| Net Income | -510.27M | -528.26M | -11.93M | -108.14M |
Balance Sheet | ||||
| Total Assets | 728.77M | 744.76M | 673.26M | 622.53M |
| Cash, Cash Equivalents and Short-Term Investments | 317.31M | 363.86M | 466.57M | 423.36M |
| Total Debt | 6.97M | 8.04M | 11.07M | 15.73M |
| Total Liabilities | 417.21M | 366.23M | 256.56M | 195.25M |
| Stockholders Equity | 311.56M | 378.54M | 416.70M | 427.28M |
Cash Flow | ||||
| Free Cash Flow | 206.17M | 170.73M | 45.23M | -68.52M |
| Operating Cash Flow | 209.60M | 171.44M | 49.00M | -63.91M |
| Investing Cash Flow | -44.35M | -113.76M | 18.31M | 1.50M |
| Financing Cash Flow | -267.42M | -150.47M | -2.20M | -3.00M |
Hinge Health, Inc. Class A Risk Analysis
Hinge Health, Inc. Class A disclosed 82 risk factors in its most recent earnings report. Hinge Health, Inc. Class A reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Hinge Health, Inc. Class A Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
73 Outperform | $6.87B | -13.49 | -138.70% | ― | 49.78% | -477.12% | |
70 Outperform | $1.38B | -202.96 | -2.81% | ― | 49.36% | 83.76% | |
63 Neutral | $165.58M | -1.83 | -35.14% | ― | -9.29% | 46.89% | |
61 Neutral | $1.68B | -9.57 | -12.37% | ― | -1.50% | 83.75% | |
59 Neutral | $3.46B | 155.40 | 3.02% | ― | 24.72% | 35.79% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
40 Underperform | $5.39M | -0.21 | 336.68% | ― | 18.05% | 86.68% |
* Healthcare Sector Average
HNGE
Hinge Health, Inc. Class A
88.80
40.87
85.27%
TDOC
Teladoc
9.28
1.01
12.21%
AMWL
American Well
9.91
1.83
22.65%
PRVA
Privia Health Group
27.49
6.60
31.59%
VSEE
VSee Health
0.11
-1.27
-91.96%
OMDA
Omada Health, Inc.
23.28
5.73
32.65%
Hinge Health, Inc. Class A Corporate Events
Business Operations and StrategyFinancial Disclosures
Hinge Health Raises 2026 Outlook Ahead of Investor Day
Positive
Jun 9, 2026
On June 9, 2026, Hinge Health announced it will host its first Investor Day on June 10 at Movement, the company’s annual conference that convenes employers, health plans, consultants, providers and clinical experts to discuss the evolution o...
Executive/Board ChangesShareholder Meetings
Hinge Health Stockholders Reelect Directors, Ratify Deloitte Auditor
Positive
Jun 4, 2026
On June 3, 2026, Hinge Health, Inc. held its 2026 Annual Meeting of Stockholders, where holders of its various share classes voted, with differing voting powers, on board composition and auditor ratification. Stockholders elected Teddie Wardi and ...
Business Operations and StrategyFinancial DisclosuresProduct-Related Announcements
Hinge Health Lifts 2026 Outlook After Record Quarter
Positive
May 5, 2026
Hinge Health reported record first-quarter 2026 results on May 5, posting revenue of $182.3 million, up 47% year over year, with gross margin improving to 85% and GAAP operating income more than doubling to $32.1 million. Non-GAAP operating income...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.