Education
About Us
Working with TipRanks
Follow Us
Hyperfine (HYPR)
NASDAQ:HYPR
Top Page
Hyperfine
(NASDAQ:HYPR)
54Neutral
Positive Factors
Growth Drivers
Management pointed to several new growth drivers in the second half of the year.
Installation Performance
The company installed 13 new systems, above expectation of 10 at an ASP of $233K.
Partnerships
HYPR is partnering with NVIDIA to develop future technologies that incorporate NVIDIA's advanced artificial intelligence (AI) capabilities with the Swoop system.
Product Launch
HYPR expects to accelerate the launch in neurology offices, noting positive feedback from early pilot centers.
Negative Factors
Market Environment
HYPR reported Q3 revenues ahead of expectations and tightened 2024 guidance to $14-14.5M revenue.
Sales Cycle
The company is seeing an elongation in their selling cycle, as compared to prior quarters, due to a softer capital environment for US hospitals.
Hyperfine (HYPR) vs. S&P 500 (SPY)
Market Cap
$71.19M
Dividend YieldN/A
Average Volume (3M)1.87M
Price to Earnings (P/E)―
Beta (1Y)1.34
Revenue Growth35.67%
EPS Growth13.34%
CountryUS
Employees131
SectorHealthcare
Sector Strength76
IndustryMedical Equipment & Supplies
Share Statistics
EPS (TTM)-0.57
Shares Outstanding62,404,736
10 Day Avg. Volume4,175,570
30 Day Avg. Volume1,871,299
Financial Highlights & Ratios
PEG RatioN/A
Price to Book (P/B)N/A
Price to Sales (P/S)5.06
Price to Cash Flow (P/CF)-2.00
P/FCF Ratio0.00
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
$1.25Price Target Upside-2.34% Downside
Rating ConsensusHold
Number of Analyst Covering2
Hyperfine Business Overview & Revenue Model
Company DescriptionHealthCor Catalio Acquisition Corp is a blank check company.
How the Company Makes MoneyHyperfine makes money through the sale and leasing of its Swoop Portable MR Imaging System. The company's revenue model includes direct sales to hospitals and healthcare facilities, as well as leasing arrangements that provide a recurring revenue stream. Additionally, Hyperfine generates income from ongoing service and maintenance contracts, ensuring optimal performance and longevity of their imaging systems. Strategic partnerships with healthcare providers and collaborations with research institutions also contribute to its revenue, expanding its market reach and fostering innovation in portable medical imaging solutions.
Hyperfine Financial Statement Overview
Summary
Hyperfine demonstrates strong revenue growth and a solid equity position with no debt burden. However, the company is facing significant profitability challenges due to continuous net losses and negative cash flows. The high equity ratio and absence of debt provide stability, but negative ROE and cash flow issues indicate the need for improved operational efficiency and profitability.Income Statement
Hyperfine's income statement shows significant revenue growth over the years, with the latest revenue of $12.89 million compared to $0.29 million in 2020. However, the company continues to operate at a loss, with a net loss of $40.72 million for 2024. The gross profit margin has improved to 45.7% in 2024 from a negative margin in earlier years, but net profit margins remain substantially negative. The EBIT and EBITDA margins are also deeply negative, indicating ongoing operational challenges. The revenue growth is a positive sign, but the persistent losses are a major concern.30
Negative
Balance Sheet
The balance sheet of Hyperfine shows a relatively strong equity position with stockholders' equity at $49.04 million by the end of 2024. The company has no debt, resulting in a debt-to-equity ratio of 0, which is a positive aspect. However, the return on equity is negative due to significant net losses. The equity ratio stands at 83.2%, indicating a strong capital structure. The absence of debt and a high equity ratio are strengths, yet the negative ROE reflects profitability challenges.55
Neutral
Cash Flow
Hyperfine's cash flow statement reveals negative free cash flow, with a free cash flow of -$39.15 million in 2024. Operating cash flow exceeds net income, suggesting decent cash conversion efficiency, but both metrics are negative. The company has been investing less over time, which may impact future growth prospects. While the company has managed to finance operations without debt, the continuous negative cash flows pose a risk to long-term sustainability.40
Negative
| Breakdown | ||||
| Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|
| Income Statement | Total Revenue | |||
| 12.89M | 11.03M | 6.81M | 1.50M | 294.00K | Gross Profit |
| 5.89M | 4.76M | 907.00K | -1.17M | -477.00K | EBIT |
| -43.22M | -48.12M | -73.87M | -64.87M | -23.49M | EBITDA |
| -43.22M | -47.06M | -72.86M | -64.14M | -23.20M | Net Income Common Stockholders |
| -40.72M | -44.24M | -72.45M | -64.83M | -23.36M |
| Balance Sheet | Cash, Cash Equivalents and Short-Term Investments | |||
| 37.65M | 75.18M | 117.47M | 188.50M | 62.68M | Total Assets |
| 58.90M | 94.20M | 134.05M | 202.47M | 71.53M | Total Debt |
| 0.00 | 185.00K | 0.00 | 0.00 | 178.00K | Net Debt |
| -37.65M | -75.00M | -117.47M | -188.50M | -62.50M | Total Liabilities |
| 9.86M | 9.80M | 10.33M | 16.25M | 132.58M | Stockholders Equity |
| 49.04M | 84.40M | 123.72M | 186.23M | -61.05M |
| Cash Flow | Free Cash Flow | |||
| -39.15M | -42.61M | -72.92M | -49.89M | -23.09M | Operating Cash Flow |
| -38.77M | -41.81M | -72.34M | -47.18M | -21.52M | Investing Cash Flow |
| -383.00K | -804.00K | -585.00K | -2.71M | -1.57M | Financing Cash Flow |
| 1.02M | 174.00K | 7.00K | 176.77M | 60.94M |
Hyperfine Technical Analysis
Negative
1.28
Price Trends
1.07
Negative
1.01
Negative
1.01
Negative
Market Momentum
-0.03
Negative
45.10
Neutral
47.39
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HYPR, the sentiment is Negative. The current price of 1.28 is above the 20-day moving average (MA) of 0.98, above the 50-day MA of 1.07, and above the 200-day MA of 1.01, indicating a bearish trend. The MACD of -0.03 indicates Negative momentum. The RSI at 45.10 is Neutral, neither overbought nor oversold. The STOCH value of 47.39 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for HYPR.
Hyperfine Risk Analysis
Hyperfine disclosed 76 risk factors in its most recent earnings report. Hyperfine 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
Hyperfine Peers Comparison
Overall Rating
UnderperformOutperform
Sector (49)
Financial Indicators
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
68 Neutral | $2.31B | 67.01 | 19.39% | ― | 82.74% | ― | |
61 Neutral | $3.19B | ― | -75.27% | ― | 20.13% | 10.05% | |
54 Neutral | $71.19M | ― | -53.93% | ― | 35.67% | 13.34% | |
49 Neutral | $6.86B | 0.01 | -55.93% | 2.48% | 24.36% | -2.88% | |
43 Neutral | $2.14B | ― | -46.67% | ― | 18.82% | 19.76% | |
36 Underperform | $438.04K | ― | 52.08% | ― | -32.57% | -15.03% |
* Healthcare Sector Average
Performance Comparison
HYPR
Hyperfine
0.91
-0.27
-22.88%
CUTR
Cutera
0.02
-1.96
-98.99%
NVCR
NovoCure
19.36
5.82
42.98%
IRTC
Irhythm Technologies
101.66
-2.59
-2.48%
TMDX
TransMedics Group
67.69
-5.89
-8.00%
Hyperfine Earnings Call Summary
Earnings Call Date: Mar 17, 2025 | % Change Since: 0.00% | Next Earnings Date: May 8, 2025
Earnings Call Sentiment Neutral
Hyperfine showed strong revenue growth and improved gross margins, reduced its cash burn, and demonstrated strategic expansion into international and office markets. However, it faced challenges with decreased quarterly revenue, U.S. sales delays, and continued net losses. The positive aspects were balanced with significant challenges.Highlights
Revenue Growth and Gross Margin Expansion
For the full year 2024, Hyperfine reported $12.9 million in revenue, representing a 17% year-over-year increase. Gross profit for 2024 was $5.9 million, a 24% increase over 2023, with a full-year gross margin of 46%, up 300 basis points from 2023.
Cash Burn Reduction and Financial Strengthening
Hyperfine reduced its net cash burn by 9% in 2024, and completed a reorganization to lower operating costs, raising $6 million through a direct offering. The cash runway is extended to the end of 2026.
FDA Clearance and Software Releases
Two new AI-powered software releases are planned for 2025, expected to significantly improve image quality. The first technology update is anticipated by mid-2025, with the images comparable to conventional 1.5 Tesla MRI systems.
International and Office Market Expansion
In 2024, Hyperfine expanded its commercial focus internationally, securing 13 distributors across Europe, the Middle East, and Asia. Plans are in place to launch into neurology offices by mid-2025, enhancing market reach.
Lowlights
Decline in Quarterly Revenue and U.S. Hospital Sales Delays
Q4 2024 revenue was $2.3 million, down from $2.7 million in Q4 2023, due to longer deal timelines with U.S. hospitals and lower average selling prices from international deals.
Underperformance and Sales Team Reorganization
The U.S. field team experienced uneven performance, leading to a 50% replacement of underperforming regions. This may impact sales momentum as new team members ramp up.
Continued Net Losses
Net loss for Q4 2024 was $10.4 million, slightly improved from a $10.7 million loss in Q4 2023. For the full year, the net loss was $40.7 million, compared to a $44.2 million loss in 2023.
Company Guidance
During the Hyperfine Fourth Quarter 2024 Earnings Call, guidance for 2025 highlighted several key financial and strategic metrics. The company anticipates a revenue increase of 20% to 30% over 2024, with an expected first-half revenue of approximately $6 million. Gross margins are projected to range between 47% and 52%, with aims to surpass 50% sustainably as volume growth is realized. Hyperfine plans to reduce total cash burn to between $25 million and $27 million, a 32% decline at the midpoint compared to the previous year. The company is also focusing on expanding its commercial presence in the neurology office setting, multiple hospital sites, and international markets, contributing to a diversified revenue stream. Hyperfine's cash runway is secured until the end of 2026, aided by a recent $6 million financing, and the company is maintaining a disciplined spending strategy as it transitions to a commercial-stage entity.Hyperfine Corporate Events
Product-Related AnnouncementsExecutive/Board ChangesBusiness Operations and Strategy
Hyperfine Achieves Key Milestones for 2025 Growth
Positive
Feb 11, 2025
In the fourth quarter of 2024, Hyperfine achieved several milestones to support its growth in 2025. These accomplishments include receiving accreditation for its ultra-low-field MRI technology from the Intersocietal Accreditation Commission, obtaining CE approval for its AI-powered brain imaging software, and expanding global market reach with new distribution partnerships. The company also presented scientific abstracts and data at notable conferences, highlighting the potential value of its Swoop® system in patient management and appointed new executives to drive its adoption in hospital and neurology office settings.
Glossary
OutperformA stock rated as "Outperform" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock is likely to deliver higher returns compared to the average returns of other stocks in the same sector or market index. Investors might consider this stock a good buying opportunity.
NeutralA stock rated as "Neutral" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly attractive nor unattractive for investment. Investors may consider holding onto the stock, as it is not expected to either significantly outperform or underperform the market.
UnderperformA stock rated as "Underperform" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock may deliver lower returns compared to the average returns of other stocks in the same sector or market index. Investors might consider selling the stock or avoiding it as an investment.
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.