Key Highlights

  • Total revenues were USD 6.0 million, compared with USD 3.4 million.
  • Gross Margin rose to 56.7% from 53.8%.
  • Net loss was USD 6.0 million, compared with USD 11.0 million.
  • Cash and cash equivalents were USD 37.9 million.

Hyperfine, Inc. (NASDAQ:HYPR) reported third quarter 2026 total revenues of USD 6.0 million, compared with USD 3.4 million in the third quarter of 2025. Reported EPS was negative USD 0.06 and Revenue was USD 5.96 million, compared with estimates of EPS of negative USD 0.08 and revenue of USD 5.84 million.

For the nine months ended September 30, 2026, total revenues were USD 13.8 million, compared with USD 8.3 million for the same period of 2025.

Revenue and Gross Profit

Device sales increased by USD 2.4 million, or 81.4%, in the quarter, and service sales increased by USD 0.2 million, or 31.3%. For the nine months, device sales increased by USD 5.1 million, or 78.4%, and service sales increased by USD 0.4 million, or 21.3%.

Cost of device sales increased by USD 1.0 million, or 72.4%, in the quarter and by USD 2.1 million, or 62.4%, for the nine months. Gross Profit increased by USD 1.5 million, or 83.0%, to USD 3.4 million, compared with USD 1.8 million, and gross margin increased to 56.7% from 53.8%. For the nine months, gross profit increased by USD 3.3 million, or 80.9%, to USD 7.3 million, and gross margin increased to 53.3% from 49.1%.

Operating Expenses and Net Loss

Loss from operations was USD 7.3 million, compared with USD 8.9 million, a decrease of 18.6%. The company said the improvement reflected the 83.0% increase in gross profit, while total operating expenses decreased by 1.2%. For the nine months, loss from operations decreased by USD 5.1 million, or 17.4%, to USD 24.3 million.

Research and development expenses decreased by USD 2.0 million, or 14.7%, for the nine months, driven primarily by a USD 1.1 million decrease in salaries and benefits on lower headcount and a USD 0.9 million increase in grant fulfillment credits. General and administrative expenses decreased by USD 0.1 million, or 2.4%, in the quarter, driven primarily by a USD 0.5 million decrease in allowance for Credit losses, partially offset by a USD 0.4 million increase in salaries and benefits.

Interest expense increased by USD 0.5 million in the quarter and by USD 1.2 million for the nine months. The change in Fair Value of Warrant liabilities increased by USD 3.8 million in the quarter and by USD 1.3 million for the nine months. Net loss and comprehensive loss was USD 6.0 million, compared with USD 11.0 million, a decrease of 45.7%, and USD 23.9 million for the nine months, compared with USD 29.7 million.

Liquidity

The company reported cash and cash equivalents of USD 37.9 million as of September 30, 2026, and an accumulated Deficit of USD 353.9 million. Net cash used in Operating Activities for the nine months was USD 22.4 million, due primarily to the net loss of USD 23.9 million and changes in operating Assets and liabilities of USD 1.3 million, partially offset by non-cash items of USD 2.8 million. The non-cash items were primarily stock-based compensation expense of USD 2.5 million, Depreciation expense of USD 0.8 million and amortization of Debt discount and issuance costs of USD 0.2 million, partially offset by a USD 0.7 million gain on the change in fair value of warrant liabilities.

Devices, Warrants and Cash Burn

Hyperfine's gross margin of 56.7% and net loss of USD 6.0 million sit alongside USD 37.9 million in cash. The filing discloses device and service sales changes, the warrant Liability fair value change and the nine month Cash Flow components.