Hyperfine (HYPR) AI Stock Analysis

• Market Cap: $108.83M
• Dividend Yield: N/A
• Average Volume (3M): 762.74K
• Price to Earnings (P/E): ―
• Beta (1Y): 1.04
• Revenue Growth: -20.10%
• EPS Growth: 7.87%
• Country: US
• Employees: 111
• Sector: Healthcare
• Sector Strength: 45
• Industry: Medical - Devices
• EPS (TTM): -0.14
• Shares Outstanding: 82,113,370
• 10 Day Avg. Volume: 1,646,855
• 30 Day Avg. Volume: 762,741
• PEG Ratio: 0.16
• Price to Book (P/B): 1.30
• Price to Sales (P/S): 4.94
• P/FCF Ratio: -1.63
• Enterprise Value/Market Cap: 0.59
• Enterprise Value/Revenue: 6.02
• Enterprise Value/Gross Profit: 13.05
• Enterprise Value/Ebitda: -1.56
• 1Y Price Target: $2.00
• Price Target Upside: 61.29% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 1
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 59 Neutral
• Price Target: $1.50 ▲(20.97% Upside)

The score is held back primarily by weak financial performance (volatile/declining TTM revenue, large operating losses, and substantial cash burn). Offsetting this are improving operational indicators from recent updates and the earnings call (record gross margin, stronger revenue trajectory, better cash-burn control, and extended runway), plus supportive technical momentum; valuation remains constrained by ongoing losses and no dividend yield.

Positive Factors

High Gross Margins

Sustained mid-to-high 40s gross margins (record ~54%) indicate strong unit economics for a medical device business. Durable gross margin supports future operating leverage as volumes scale, improving the pathway to profitability even if operating expenses remain elevated in the near term.

No Reported Debt

A zero-debt balance sheet provides financial flexibility for an early-stage hardware company, lowering default risk and enabling management to fund commercialization via equity or cash reserves. This structural strength helps absorb sales variability and invest in product rollout without immediate interest burden.

New Product Traction & Pipeline

Successful next‑gen product and AI software launches, higher average selling prices, and an expanding sales pipeline imply durable commercial momentum. Product improvements plus regulatory approvals for international rollout underpin longer‑term adoption across hospitals and outpatient settings.

Negative Factors

Large Ongoing Cash Burn

Persistent, sizable negative operating and free cash flow demonstrates structural cash consumption. Even with periodic financings, continued high burn constrains the timeline to self‑funded growth, increases refinancing risk, and forces dilution unless revenue scales meaningfully or margins offset fixed costs.

Revenue Volatility and Low Scale

A small, volatile revenue base limits the company’s ability to absorb R&D and SG&A, delaying operating leverage. Structural commercialization risk remains until recurring revenue and unit placements reach scale, making profitability dependent on sustained, predictable adoption over multiple quarters.

Eroded Shareholder Equity

Material equity erosion from cumulative losses signals persistent unprofitability and likely dilution to finance operations. This erosion reduces the company’s capacity to fund growth organically, pressures long‑term shareholder value creation, and increases reliance on external capital for strategic initiatives.

Hyperfine Business Overview & Revenue Model

Company Description

Hyperfine, Inc. provides imaging, monitoring, and magnetic resonance imaging products. It offers Swoop Portable MR imaging system to address an unmet need in point-of-care medical imaging through a combination of hardware and software services. The company was incorporated in 2014 and is based in Guilford, Connecticut.

How the Company Makes Money

Hyperfine generates revenue through the sale and leasing of its Swoop Portable MRI systems to hospitals, clinics, and healthcare providers. The company also earns income from the provision of maintenance, support services, and software updates for its imaging systems. Additionally, Hyperfine has established partnerships with healthcare institutions and organizations that contribute to its credibility and market reach, as well as collaborations that may yield further revenue opportunities through research and development initiatives.

Hyperfine Financial Statement Overview

Summary

Mixed fundamentals: gross margin is solid (mid-40% range) and debt is $0, but TTM revenue is volatile/declining sharply and profitability is very weak (deeply negative EBIT and net margins). Cash flow remains a major risk with sizable operating and free-cash-flow burn and an unfavorable recent FCF growth trend, alongside a materially reduced equity base over time.

Income Statement

TTM (Trailing-Twelve-Months) revenue is about $10.6M and declined sharply versus the prior period (revenue growth rate: -190.8%), signaling demand volatility and/or commercialization headwinds. Profitability remains very weak: gross margin is ~46% (healthy for a device business), but operating losses are outsized (EBIT margin ~-292%) and net losses remain heavy (net margin ~-378%), implying operating expenses are far above the current revenue base. While gross margin has improved materially from earlier years, the company has not yet demonstrated operating leverage or a credible path to break-even in the reported numbers.

Balance Sheet

The balance sheet is a relative bright spot: TTM total debt is $0 (and was minimal in prior annual periods), indicating very low leverage and limited near-term debt pressure. However, equity has declined meaningfully over time (from ~$186.2M in 2021 to ~$26.9M TTM), consistent with cumulative losses and potential dilution/erosion of capital. Returns on equity are deeply negative (TTM ROE ~-104%), highlighting that shareholder capital is being consumed rather than compounded, even though headline leverage risk is low.

Cash Flow

Cash generation is weak and remains a key risk: TTM operating cash flow is about -$31.1M and TTM free cash flow is about -$32.2M, reflecting ongoing cash burn. Free cash flow trends are also unfavorable in the most recent period (TTM free cash flow growth: -842.2%), suggesting burn accelerated versus the comparison period. A positive note is that free cash flow roughly tracks reported net loss (TTM free cash flow to net income ~1.04x), implying losses are not being significantly masked by non-cash accounting—however, the absolute level of cash outflow remains substantial.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	10.59M	12.89M	11.03M	6.81M	1.50M	294.00K
Gross Profit	4.88M	5.89M	4.76M	907.00K	-1.17M	-477.00K
EBITDA	-40.87M	-42.22M	-47.06M	-72.86M	-64.14M	-23.20M
Net Income	-40.05M	-40.72M	-44.24M	-73.16M	-64.83M	-23.36M
Balance Sheet
Total Assets	41.51M	58.90M	94.20M	134.05M	202.47M	71.53M
Cash, Cash Equivalents and Short-Term Investments	21.56M	37.65M	75.18M	118.24M	188.50M	62.68M
Total Debt	0.00	269.00K	185.00K	0.00	0.00	178.00K
Total Liabilities	14.64M	9.86M	9.80M	10.33M	16.25M	4.29M
Stockholders Equity	26.87M	49.04M	84.40M	123.72M	186.23M	67.23M
Cash Flow
Free Cash Flow	-32.23M	-39.15M	-42.61M	-72.92M	-49.89M	-23.09M
Operating Cash Flow	-31.10M	-38.77M	-41.81M	-72.34M	-47.18M	-21.52M
Investing Cash Flow	-1.13M	-383.00K	-804.00K	-585.00K	-2.71M	-1.57M
Financing Cash Flow	8.27M	1.02M	174.00K	7.00K	176.77M	60.94M

Hyperfine Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 1.24
• 50DMA: Positive
• 100DMA: Negative
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

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 1.24 is above the 20-day moving average (MA) of 1.16, above the 50-day MA of 1.07, and above the 200-day MA of 1.06, indicating a neutral trend. The MACD of 0.02 indicates Positive momentum. The RSI at 48.25 is Neutral, neither overbought nor oversold. The STOCH value of 19.53 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for HYPR.

Hyperfine Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
FONR	66 Neutral	$116.86M	16.74	4.34%	―	3.36%	-21.15%
HYPR	59 Neutral	$108.83M	-2.14	-94.03%	―	-20.10%	7.87%
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%
RBOT	45 Neutral	$13.88M	-0.22	-148.93%	―	―	15.03%
ICCM	45 Neutral	$40.73M	-2.32	-157.91%	―	-18.96%	8.98%
VVOS	43 Neutral	$14.16M	-0.76	-335.47%	―	18.76%	60.09%

Hyperfine Corporate Events

Hyperfine Announces Strong Preliminary Q4 2025 Revenue Growth

On January 12, 2026, Hyperfine reported preliminary, unaudited financial results for the fourth quarter and full year ended December 31, 2025, highlighting a record fourth-quarter revenue of about $5.3 million, up 127% year-on-year and 54% sequentially, driven by placements across hospital, neurology office and international markets. For full-year 2025, revenue is expected to reach approximately $13.5 million, a modest 5% increase over 2024, while preliminary net cash burn excluding financings improved, declining 30% year-on-year in the fourth quarter to about $5.7 million and 22% for the full year to about $29.9 million, leaving the company with an estimated $35.1 million in cash and cash equivalents at year-end; these trends suggest strengthening commercial traction for its next-generation Swoop® system and Optive AI™ software alongside tighter cash management, though figures remain subject to final audit and a full earnings release expected in March 2026.

The most recent analyst rating on (HYPR) stock is a Buy with a $2.00 price target. To see the full list of analyst forecasts on Hyperfine stock, see the HYPR Stock Forecast page.

Hyperfine Expands ATM Equity Offering With New Sales Agent

On December 29, 2025, Hyperfine, Inc. amended and restated its existing at-the-market equity offering arrangement, expanding its distribution syndicate by adding BTIG, LLC as an additional sales agent alongside B. Riley Securities, Inc., while keeping all other material terms unchanged. Under the revised agreement and a newly filed prospectus supplement tied to its effective shelf registration, the company may, at its discretion, sell up to $50 million of Class A common stock through the agents, who will receive up to a 3% commission, and Hyperfine has simultaneously terminated an earlier prospectus supplement dated November 22, 2023, under which it had previously sold 3,464,325 shares for approximately $4.35 million in gross proceeds.

The most recent analyst rating on (HYPR) stock is a Buy with a $2.00 price target. To see the full list of analyst forecasts on Hyperfine stock, see the HYPR Stock Forecast page.