Hinge Health, Inc. most recently reported annual revenue of $588.0M, a net loss of $528.0M. Revenue grew at an average annual rate of 41.7% over the last 2 fiscal years. See the full income statement, balance sheet, and cash flow statement below, plus valuation and return ratios.
Hinge Health, Inc.: Revenue rose from $293.0M in 2023 to $588.0M in 2025, a change of +100.7% over 2 years; net profit was positive in 0 of 3 reported years; operating margin moved from -44.6% to -92.9%, a shift of -48.3 percentage points; the most recent year shows a net loss of $528.0M.
Income Statement — 3 Years (USD millions)
Metric
2023
2024
2025
Revenue
$293.0M
$390.0M
$588.0M
Operating Expenses
$423.0M
$422.0M
$1.1B
Operating Profit
$-131.0M
$-32.0M
$-546.0M
Operating Margin
-44.6%
-8.2%
-92.9%
Other Income
$22.0M
$21.0M
$19.0M
Interest
$0
$0
$0
Depreciation
$2.0M
$2.0M
$5.0M
Profit Before Tax
$-109.0M
$-11.0M
$-527.0M
Tax
$370,000
$-6.0M
$-190,000
Net Profit
$-108.0M
$-12.0M
$-528.0M
EPS
$-1.39
$-0.15
$-5.19
Dividend Payout
0.0%
0.0%
0.0%
Quarterly Results — Last 12 Quarters (USD millions)
1 duplicate period label in the source data were collapsed.
Metric
Sep '23
Dec '23
Mar '24
Jun '24
Sep '24
Dec '24
Mar '25
Jun '25
Sep '25
Dec '25
Mar '26
Jun '26
Revenue
$81.0M
$82.0M
$83.0M
$90.0M
$101.0M
$117.0M
$124.0M
$139.0M
$154.0M
$171.0M
$182.0M
$213.0M
Operating Expenses
$104.0M
$112.0M
$114.0M
$107.0M
$104.0M
$96.0M
$111.0M
$720.0M
$160.0M
$143.0M
$150.0M
$172.0M
Operating Profit
$-22.0M
$-30.0M
$-31.0M
$-18.0M
$-4.0M
$21.0M
$13.0M
$-581.0M
$-6.0M
$27.0M
$32.0M
$40.0M
Operating Margin
-27.4%
-37.4%
-38.0%
-19.5%
-3.8%
17.8%
10.6%
-417.4%
-4.0%
16.0%
17.6%
19.0%
Interest
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
Profit Before Tax
$-17.0M
$-25.0M
$-26.0M
$-13.0M
$1.0M
$26.0M
$122.0M
$-576.0M
$-2.0M
$32.0M
$36.0M
$44.0M
Tax
$-190,000
$1.8M
$-600,000
$-2.9M
$76.5M
$-3.6M
$820,000
$60,000
$-12.6M
$380,000
$2.3M
$1.7M
Net Profit
$-17.0M
$-24.0M
$-26.0M
$-13.0M
$0
$27.0M
$121.0M
$-576.0M
$-2.0M
$32.0M
$35.0M
$44.0M
EPS
$-0.21
$-0.31
$-0.34
$-0.14
$0.00
$0.35
$1.55
$-7.38
$-0.02
$0.37
$0.41
$0.53
Over the 3 years reported for Hinge Health, Inc., borrowings decreased from $16.0M in 2023 to $8.0M in 2025, cash stood at $208.0M in the latest year, shareholders' equity was $0, current assets covered current liabilities 1.48 times.
Balance Sheet — 3 Years (USD millions)
Metric
2023
2024
2025
Total Assets
$623.0M
$673.0M
$745.0M
Current Assets
$530.0M
$583.0M
$534.0M
Cash
$235.0M
$301.0M
$208.0M
Inventory
$13.0M
$11.0M
$16.0M
Receivables
$47.0M
$42.0M
$66.0M
Fixed Assets
$22.0M
$17.0M
$17.0M
Capital Work in Progress
$0
$0
$0
Investments
$188.0M
$166.0M
$269.0M
Other Assets
$62.0M
$62.0M
$64.0M
Total Liabilities
$195.0M
$257.0M
$366.0M
Current Liabilities
$184.0M
$249.0M
$362.0M
Borrowings
$16.0M
$11.0M
$8.0M
Other Liabilities
$180.0M
$245.0M
$358.0M
Equity
$0
$0
$0
Reserves
$427.0M
$417.0M
$379.0M
For Hinge Health, Inc., operating cash flow was positive in 2 of 3 reported years; free cash flow in the latest year was $171.0M; free cash flow was positive in 2 of 3 years; financing activities used $416.0M in the latest year, which covers debt repayment, dividends and buybacks.
Cash Flow Statement — 3 Years (USD millions)
Metric
2023
2024
2025
Operating Cash Flow
$-64.0M
$49.0M
$171.0M
Investing Cash Flow
$-3.0M
$15.0M
$-114.0M
Financing Cash Flow
$-3.0M
$-3.0M
$-416.0M
Net Cash Flow
$-65.0M
$65.0M
$-93.0M
Free Cash Flow
$-69.0M
$45.0M
$171.0M
Valuation & Return Ratios
Metric
Value
PEG Ratio
0.96
EV / EBITDA
71.24
FCF Yield
3.78%
Quick Ratio
1.30
Interest Coverage
—
Return 1Y
90.31%
Return 3Y
—
Return 5Y
—
Hinge Health, Inc. (HNGE) financials — frequently asked questions
What is Hinge Health, Inc.'s annual revenue?
Hinge Health, Inc. (HNGE) reported annual revenue of $588.0M in its most recent fiscal year.
What is Hinge Health, Inc.'s net profit?
Hinge Health, Inc. (HNGE) reported a net loss of $528.0M in its most recent fiscal year.
What is HNGE EV/EBITDA?
Hinge Health, Inc.'s enterprise value to EBITDA (EV/EBITDA) ratio is 71.24.