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1. Company Snapshot

1.a. 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.

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1.b. Last Insights on HYPR

Hyperfine, Inc.'s recent performance was driven by several positive developments. The company secured FDA clearance for its next-generation Swoop system, powered by Optive AI software, which delivers a substantial leap in image quality for ultra-low-field MR imaging. Additionally, Hyperfine announced the first commercial sales of the next-generation Swoop system to top U.S. hospitals following FDA clearance. Furthermore, the company made key executive appointments to strengthen its leadership position in AI-powered portable MRI, and secured FDA clearance for a new next-generation Swoop system with Optive AI software, bringing a transformative leap in image quality with enhanced usability and comfort.

1.c. Company Highlights

2. Hyperfine's Q3 2025 Earnings: A Transformative Quarter

Hyperfine reported revenue of $3.4 million, a 27% sequential increase, and expanded gross margins to a record 54%, driven by a record average selling price of $361,000. The company's EPS loss was $0.11, slightly wider than the estimated loss of $0.1. The significant reduction in cash burn, down 27% sequentially, excluding financing, and the recent capital raise of over $20 million, extending the cash runway into 2027, are positive indicators. With the current P/S Ratio of 7.95, investors are pricing in significant growth expectations.

Publication Date: Nov -20

📋 Highlights
  • Revenue Growth:: Q3 revenue reached $3.4M, up 27% sequentially, driven by next-gen subsystem and Optive AI launches.
  • Gross Margin Expansion:: Gross margins hit a record 54%, supported by a $361,000 average selling price.
  • Cash Burn Reduction:: Cash burn declined 27% sequentially, with a $20M capital raise extending cash runway to 2027.
  • Commercial Pipeline Strength:: 2025 revenue guidance set at $5–6M, with 49–51% gross margin and a robust sales pipeline across three verticals.
  • International Expansion:: CE and UKCA approvals secured for Optive AI, with plans to launch in 10 European languages by year-end.

Business Progress and Pipeline Growth

The company has made significant strides in its commercial verticals, including hospital, office, and international markets. The next-generation subsystem and Optive AI software have triggered an activation of commercial deals, with interest from multiple sites of care. As Brett Hale mentioned, the fourth quarter is expected to be the second quarter of the launch for the next-generation technology, with a subset of the converted hospital deals to land in Q4. The robust pipeline, with a growth rate exceeding previous quarters, is a positive sign for future revenue growth.

Guidance and Future Outlook

Hyperfine guided 2025 revenue to be between $5 to $6 million, with a gross margin range of 49% to 51%. The company's cash burn is expected to be between $29 million to $31 million. Analysts estimate next year's revenue growth at 35.4%. The company's diversified pipelines across geographies and verticals, including US hospital deals, US office deals, and international business, are expected to drive growth. Maria Sainz refrained from providing 2026 guidance, choosing to reserve commentary until the beginning of 2026 with a closed Q4.

Valuation and Growth Expectations

With a P/E Ratio of -2.11 and an EV/EBITDA of -1.6, the market is pricing in significant growth expectations. The P/B Ratio of 3.15 and P/S Ratio of 7.95 indicate that investors are expecting substantial revenue and earnings growth in the future. The company's ROE and ROIC are negative, but this is expected given the company's current stage of growth. As the company continues to execute on its commercial launch and growth trajectory, investors will be watching closely for progress in the coming quarters.

3. NewsRoom

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Hyperfine, Inc. to Participate in Upcoming Piper Sandler 37th Annual Healthcare Conference

Nov -20

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Hyperfine Awarded $3.7 Million Grant to Advance Global Brain Health

Nov -19

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Head to Head Review: Hyperfine (NASDAQ:HYPR) vs. Vasamed (OTCMKTS:VSMD)

Nov -16

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Hyperfine, Inc. (HYPR) Q3 2025 Earnings Call Transcript

Nov -14

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Hyperfine, Inc. (HYPR) Reports Q3 Loss, Tops Revenue Estimates

Nov -14

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Hyperfine, Inc. Reports Third Quarter 2025 Financial Results

Nov -13

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Hyperfine Announces First Patients Enrolled in PRISM PMR to Evaluate the Use of Next-Generation Swoop® System in the Operating Room Setting

Oct -21

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Hyperfine Announces Pricing of $17.5 Million Public Offering

Oct -16

4. Business Breakdown

4.a. Revenues by Country

4.b. Revenues by Segment

5. Expected revenues mid-term growth (9.38%)

6. Segments

Service

Expected Growth: 10.27%

Hyperfine, Inc.'s 10.27% growth is driven by increasing adoption of its portable MRI technology, expanding into new markets, and growing demand for point-of-care diagnostics. Additionally, strategic partnerships, innovative product offerings, and cost-effective solutions contribute to the company's rapid growth.

Device

Expected Growth: 8.5%

Hyperfine's device growth is driven by increasing demand for portable MRI systems, advancements in AI-powered imaging, and expanding access to healthcare in emerging markets. Additionally, the device's low cost, ease of use, and ability to provide real-time imaging results contribute to its rapid adoption in various medical settings.

7. Detailed Products

Swoop

Portable MRI system designed for point-of-care imaging, providing high-quality images in a compact and affordable package

Swoop™ Imaging Software

Advanced software platform for image acquisition, processing, and analysis, providing high-quality MRI images

Hyperfine Cloud

Cloud-based platform for data management, analysis, and collaboration, enabling secure and efficient data sharing

Hyperfine AI

Artificial intelligence and machine learning algorithms for image analysis and interpretation, enhancing diagnostic accuracy

8. Hyperfine, Inc.'s Porter Forces

Forces Ranking

Threat Of Substitutes

Hyperfine, Inc. operates in a niche market with limited substitutes, but the threat of substitutes is still present due to the evolving nature of the industry.

Bargaining Power Of Customers

Hyperfine, Inc. has a diverse customer base, which reduces the bargaining power of individual customers, and the company's products are highly specialized, making it difficult for customers to switch to alternative suppliers.

Bargaining Power Of Suppliers

Hyperfine, Inc. relies on a few key suppliers for critical components, which gives them some bargaining power, but the company's strong relationships with suppliers and its ability to negotiate contracts mitigate this risk.

Threat Of New Entrants

The market for Hyperfine, Inc.'s products is attractive, and the company's intellectual property and expertise in the field create barriers to entry, but the threat of new entrants is still high due to the rapidly evolving nature of the industry.

Intensity Of Rivalry

Hyperfine, Inc. operates in a competitive market, but the company's unique products and strong brand recognition help to differentiate it from competitors, reducing the intensity of rivalry.

9. SWOT Analysis

10. Capital Structure

10.a. Balance Sheet

10.b. Weighted Average Cost of capital

Value
Debt Weight 0.29%
Debt Cost 3.95%
Equity Weight 99.71%
Equity Cost 8.01%
WACC 8.00%
Leverage 0.30%

11. Quality Control: Hyperfine, Inc. passed 3 out of 9 key points

12.a Historical Valuation

12.b Price/Earnings Ratio

12.c Margin Valuation

12.d Peers Valuation

Peers Group Analysis

Stock-Card
Hyperfine

A-Score: 4.7/10

Value: 6.8

Growth: 7.4

Quality: 4.0

Yield: 0.0

Momentum: 9.0

Volatility: 0.7

1-Year Total Return ->

Stock-Card
Treace Medical Concepts

A-Score: 4.4/10

Value: 7.4

Growth: 3.3

Quality: 4.6

Yield: 0.0

Momentum: 8.0

Volatility: 3.0

1-Year Total Return ->

Stock-Card
AdaptHealth

A-Score: 4.3/10

Value: 8.0

Growth: 6.4

Quality: 3.7

Yield: 0.0

Momentum: 4.0

Volatility: 3.7

1-Year Total Return ->

Stock-Card
Apyx Medical

A-Score: 3.9/10

Value: 6.8

Growth: 2.9

Quality: 3.6

Yield: 0.0

Momentum: 9.5

Volatility: 0.7

1-Year Total Return ->

Stock-Card
Cytosorbents

A-Score: 3.4/10

Value: 7.6

Growth: 4.7

Quality: 3.9

Yield: 0.0

Momentum: 3.0

Volatility: 1.0

1-Year Total Return ->

Stock-Card
Cutera

A-Score: 2.8/10

Value: 10.0

Growth: 1.6

Quality: 5.2

Yield: 0.0

Momentum: 0.0

Volatility: 0.0

1-Year Total Return ->

Peers Metrics

12.e Scoring Insights

12.f DCF BETA

Parameters

Short Term Growth

Short term Time

Long-Term Growth

WACC

Target Price

1.08$

Current Price

1.08$

Potential

-0.00%

Expected Cash-Flows