Hinge Health, Inc. Class A (HNGE)
NYSE:HNGE
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Hinge Health, Inc. Class A
(NYSE:HNGE)
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Rating:64Neutral
Price Target:
$48.00
▲(22.48% Upside)
Action:ReiteratedDate:02/17/26
The score is driven primarily by solid financial health (low leverage and strong cash flow) and a constructive earnings call with confident 2026 guidance and improving profitability outlook. Offsetting these are weak GAAP-based valuation (negative P/E) and mixed technical momentum (below key moving averages with negative MACD).
Positive Factors
Cash Generation
Sustained, material free cash flow provides durable financial flexibility: it funds reinvestment in product and sales, supports share repurchases or strategic M&A, and reduces reliance on external financing. Strong cash conversion also underpins operational resilience across cycles.
Negative Factors
GAAP Earnings Volatility
A sharp GAAP loss driven by large non‑cash or one‑time items creates uncertainty about normalized profitability and earnings quality. This divergence complicates forecasting, could constrain strategic choices if repeated, and may affect stakeholder trust and reporting comparability.
Read all positive and negative factors
Positive Factors
Negative Factors
Cash Generation
Sustained, material free cash flow provides durable financial flexibility: it funds reinvestment in product and sales, supports share repurchases or strategic M&A, and reduces reliance on external financing. Strong cash conversion also underpins operational resilience across cycles.
Read all positive factors
Hinge Health, Inc. Class A (HNGE) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$3.09B
Dividend YieldN/A
Average Volume (3M)1.10M
Price to Earnings (P/E)―
Beta (1Y)1.61
Revenue Growth50.67%
EPS Growth-578.00%
CountryUS
Employees1,514
SectorHealthcare
Sector Strength45
IndustryMedical - Healthcare Information Services
Share Statistics
EPS (TTM)0.49
Shares Outstanding55,816,216
10 Day Avg. Volume789,492
30 Day Avg. Volume1,098,932
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 Cap0.94
Enterprise Value/Revenue4.91
Enterprise Value/Gross Profit6.16
Enterprise Value/Ebitda-5.48
Forecast
1Y Price Target
$59.50Price Target Upside51.82% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering14
EPS Forecast (FY)1.94
Revenue Forecast (FY)$736.57M
Hinge Health, Inc. Class A Business Overview & Revenue Model
Company Description
Hinge Health, Inc. develops health care software for joint and muscle health. The company designs its platform to address a musculoskeletal care, acute injury, chronic pain, and post-surgical rehabilitation. It also provides various administrative...
How the Company Makes Money
Publicly verifiable details about Hinge Health, Inc. Class A (HNGE)’s specific revenue model (e.g., pricing structure, exact revenue streams, customer mix, contract terms, or partnership economics) are not available in the information provided her...
Hinge Health, Inc. Class A Earnings Call Summary
Earnings Call Date:Feb 10, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:May 07, 2026
Earnings Call Sentiment Positive
The call emphasized strong operational and financial momentum: robust revenue growth, high margins, exceptional free cash flow generation, meaningful AI-driven efficiency gains, high retention, and large commercial expansion (24.6M contracted lives). Management provided confident 2026 guidance while noting deliberate investments and conservatism (e.g., limited near-term revenue from Hinge Select and flat ASP assumptions). Key risks and watch items include slower guided growth in 2026 versus 2025, still-low engagement yield relative to long-term benchmarks, delayed monetization of Hinge Select, and potentially confusing buyback disclosures that reduced cash. Overall, positive execution and durability of the business were the dominant themes, with a few strategic and timing-related caveats to monitor.Positive Updates
Strong Revenue Growth
Q4 revenue of $171M, up 46% year-over-year; full year 2025 revenue of $588M, up 51% year-over-year; LTM calculated billings of $671M, up 44% year-over-year.
Negative Updates
Slower Growth Assumed for 2026
Management guided to ~25% year-over-year revenue growth for full year 2026 (midpoint), down from 51% growth in 2025, reflecting deceleration versus last year.
Read all updates
Q4-2025 Updates
Positive
Negative
Strong Revenue Growth
Q4 revenue of $171M, up 46% year-over-year; full year 2025 revenue of $588M, up 51% year-over-year; LTM calculated billings of $671M, up 44% year-over-year.
Read all positive updates
Company Guidance
Hinge Health guided Q1 2026 revenue of $171M–$173M (about 39% YoY growth at the midpoint) with non‑GAAP income from operations of $30M–$32M (roughly an 18% margin at the midpoint), noting Q1 is their lowest‑margin quarter due to client launches; for full‑year 2026 they expect revenue of $732M–$742M (≈25% YoY growth at the midpoint and $39M above sell‑side consensus) and non‑GAAP income from operations of $151M–$156M (≈21% margin at the midpoint, ~$18M above consensus and ~100 bps better than 2025 despite planned investments). Assumptions include average LTM eligible lives of 24.4M, flat yield and essentially flat average selling price, an anticipated ~100 bps gross margin improvement in 2026, GAAP diluted weighted average shares of 85–87M (excluding buybacks), and an expectation to be GAAP profitable in 2026.Hinge Health, Inc. Class A Financial Statement Overview
Summary
Income Statement
36
Negative
Balance Sheet
74
Positive
Cash Flow
78
Positive
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 |
|---|---|---|---|
Income Statement | |||
| Total Revenue | 587.86M | 390.40M | 292.73M |
| Gross Profit | 468.22M | 300.59M | 194.18M |
| EBITDA | -541.24M | -5.31M | -102.92M |
| Net Income | -528.26M | -11.93M | -108.14M |
Balance Sheet | |||
| Total Assets | 744.76M | 673.26M | 622.53M |
| Cash, Cash Equivalents and Short-Term Investments | 363.86M | 466.57M | 423.36M |
| Total Debt | 8.04M | 11.07M | 15.73M |
| Total Liabilities | 366.23M | 256.56M | 195.25M |
| Stockholders Equity | 378.54M | 416.70M | 427.28M |
Cash Flow | |||
| Free Cash Flow | 170.73M | 45.23M | -68.52M |
| Operating Cash Flow | 171.44M | 49.00M | -63.91M |
| Investing Cash Flow | -113.76M | 18.31M | 1.50M |
| Financing Cash Flow | -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 |
|---|---|---|---|---|---|---|---|
64 Neutral | $3.09B | -6.96 | -132.16% | ― | 50.67% | -578.00% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
44 Neutral | $2.79M | -0.05 | -202.20% | ― | -49.63% | 82.22% | |
42 Neutral | $2.00M | -0.18 | -145.52% | ― | ― | 97.70% | |
40 Underperform | $411.80K | -2.13 | ― | ― | -8.57% | -52.17% | |
40 Underperform | $7.20M | -1.29 | -220.42% | ― | -41.03% | 35.71% |
* Healthcare Sector Average
HNGE
Hinge Health, Inc. Class A
39.19
-0.97
-2.42%
ERNA
Eterna Therapeutics
0.21
-2.59
-92.54%
MSPR
MSP Recovery
0.03
-10.12
-99.72%
BJDX
Bluejay Diagnostics
2.06
-27.94
-93.13%
TIVC
Tivic Health Systems
0.97
-3.78
-79.58%
HSCS
Heart Test Laboratories, Inc.
2.26
-0.52
-18.71%
Hinge Health, Inc. Class A Corporate Events
Business Operations and StrategyStock BuybackFinancial Disclosures
Hinge Health Posts Record 2025 Results With Strong Profitability
Positive
Feb 10, 2026
Hinge Health reported record fourth-quarter and full-year 2025 results on February 10, 2026, highlighted by 46% year-on-year revenue growth in Q4 to $170.7 million, expanded gross margins and sharply higher operating income and cash generation. Fo...
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.