Hyperfine, Inc. HYPR
We are an innovative health technology business with a mission to revolutionize patient care globally through accessible, affordable, clinically relevant artificial intelligence ("AI")-powered portable ultra-low-field ("ULF") magnetic resonance ("MR") brain imaging. Our Swoop® Portable MR Imaging® System ("Swoop® system") produces high-quality images at a significantly lower magnetic field strength than conventional magnetic resonance imaging ("MRI") scanners. Our Swoop® system is designed to transform brain MR for the patient, the clinician and the provider, enabling a highly differentiated patient-friendly experience, timely imaging for clinicians, and favorable economics for hospital administrators. The Swoop® system is a portable, ULF MRI device for producing images that display the internal structures of the head where full diagnostic examination is not clinically practical. When interpreted by a trained physician, these images provide information that can be useful in determining a diagnosis. Healthcare professionals can use the Swoop® system to make effective clinical diagnoses and decisions in various care settings where conventional MRI devices are inaccessible and/or when they are not readily available. The portable design of our Swoop® system make it safely and readily accessible anywhere in a hospital, clinic, physician's office, or patient care site and it does not require any special facilities accommodations. The easy to use, iPad-based interface makes its operation easy to learn and it does not require specialized personnel to operate safely. ULF MR does not expose patients to harmful ionizing radiation and compares favorably in this regard to X-ray computed tomography ("CT") or positron emission tomography ("PET").
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 |
|---|---|---|---|---|---|---|---|
| Revenue | $13.6M | $12.9M | $11.0M | $6.8M | $1.5M | $294.0K | — |
| Cost of revenue | $6.8M | $7.0M | $6.3M | $5.9M | $2.7M | $771.0K | — |
| Gross profit | $6.8M | $5.9M | $4.8M | $907.0K | -$1.2M | -$477.0K | — |
| R&D | $17.5M | $22.5M | $22.5M | $28.2M | $25.8M | $14.6M | — |
| SG&A | $16.3M | $17.5M | $20.3M | $32.4M | $27.5M | $5.9M | — |
| Total operating expenses | $43.8M | $49.1M | $52.9M | $74.8M | $63.7M | $23.0M | — |
| Operating income | -$37.1M | -$43.2M | -$48.1M | -$73.9M | -$64.9M | -$23.5M | — |
| Pre-tax income | -$35.6M | -$40.7M | -$44.2M | -$73.2M | -$64.9M | -$23.4M | — |
| Income tax | $0 | $0 | $0 | $0 | $0 | — | — |
| Net income | -$35.6M | -$40.7M | -$44.2M | -$44.2M | -$64.9M | -$23.4M | — |
| EPS, basic | -0.43 | -0.56 | -0.62 | -1.04 | -17.57 | — | — |
| EPS, diluted | -0.43 | -0.56 | -0.62 | -1.04 | -17.57 | -15.38 | — |
| Shares, diluted (wtd. avg.) | 81.8M | 72.4M | 71.3M | 70.4M | 3.7M | — | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 |
|---|---|---|---|---|---|---|---|
| Cash and equivalents | $35.1M | $37.6M | $75.8M | $118.2M | $191.2M | $64.3M | $26.4M |
| Receivables | $5.3M | $6.0M | $3.2M | $2.1M | $553.0K | $174.0K | — |
| Inventory | $7.1M | $5.8M | $6.6M | $4.6M | $4.3M | $1.7M | — |
| Total current assets | $50.9M | $53.7M | $88.9M | $128.7M | $197.5M | $68.3M | — |
| Property, plant and equipment | $2.5M | $3.1M | $3.0M | $3.2M | $3.8M | $1.9M | — |
| Total assets | $55.3M | $58.9M | $94.2M | $134.1M | $202.5M | $71.5M | — |
| Accounts payable | $4.1M | $1.6M | $1.2M | $678.0K | $2.2M | $948.0K | — |
| Total current liabilities | $11.7M | $8.7M | $8.8M | $8.8M | $15.7M | $4.1M | — |
| Total liabilities | $14.3M | $9.9M | $9.8M | $10.3M | $16.2M | $4.3M | — |
| Retained earnings | -$330.0M | -$294.4M | -$253.7M | -$209.5M | -$136.3M | -$71.5M | — |
| Total equity | $41.0M | $49.0M | $84.4M | $123.7M | $186.2M | -$61.1M | -$39.9M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 |
|---|---|---|---|---|---|---|---|
| Operating cash flow | -$27.9M | -$38.8M | -$41.8M | -$72.3M | -$47.2M | -$21.5M | — |
| Depreciation and amortisation | $1.1M | $1.0M | $1.1M | $1.0M | $726.0K | $289.0K | — |
| Stock-based compensation | $2.8M | $4.4M | $4.7M | $4.5M | $6.9M | $1.1M | — |
| Capital expenditure | $1.2M | $383.0K | $804.0K | $585.0K | $2.7M | $1.6M | — |
| Investing cash flow | -$1.2M | -$383.0K | -$804.0K | -$585.0K | -$2.7M | -$1.6M | — |
| Financing cash flow | $27.5M | $1.0M | $174.0K | $7.0K | $176.8M | $60.9M | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001193125-26-114044.
Plot the figures US dollars
- Revenue
- Gross profit
- Net income
| Fiscal year | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|
| Revenue | — | $294.0K | $1.5M | $6.8M | $11.0M | $12.9M | $13.6M |
| Gross profit | — | -$477.0K | -$1.2M | $907.0K | $4.8M | $5.9M | $6.8M |
| Net income | — | -$23.4M | -$64.9M | -$44.2M | -$44.2M | -$40.7M | -$35.6M |
Recent filings and events
- Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
- Shareholder vote The results of the annual meeting or a special vote. Item 5.07
- Results announced Item 2.02
- Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
- Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
- Results announced Item 2.02
- New debt or obligation The company has taken on debt or a comparable obligation. Item 2.03
- Unregistered share sale Shares issued outside a registered offering. Dilution, and for a small company often the way it is funded. Item 3.02
- Results announced Item 2.02
- Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
- Material agreement signed Item 1.01
- Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.
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