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what it is
Hyperfine sells portable brain MRI machines and the software that helps doctors read them.
how it gets paid
Last year Hyperfine made $13M in revenue. Swoop portable MRI systems was the main engine at $10.4M, or 80% of sales.
what just happened
Hyperfine posted $8M in quarterly revenue, while EPS stayed negative at -$0.38.
At a glance
C++ balance sheet — some cracks in the foundation
-$0.56 fy2024 eps est
$2B fy2026 rev est
n/a operating margin
1.2 beta
xvary composite: 41/100 — below average
What they do
Hyperfine sells portable brain MRI machines and the software that helps doctors read them.
Your hospital does not buy a $361,000 scanner casually. That price and 111 employees tell you this is a small, specialized sales fight, not a gadget toss-up. FDA 510(k) clearance (FDA permission to sell) in 2025 keeps the door open.
How they make money
$13M
annual revenue
Swoop portable MRI systems
$10.4M
Optive AI software
$1.0M
Service and support
$0.9M
Installation, training, and other
$0.7M
The products that matter
portable brain imaging system
Swoop portable MRI
8 units last quarter · $361,000 average price
It sold 8 units in Q3 at a record average selling price of $361,000. That tells you hospitals will pay for the product. It does not tell you demand is broad yet.
Q3 revenue driver
imaging analysis software
Optive AI software
FDA cleared in may 2025
The May 2025 clearance matters because HYPR needs more than 8-unit quarters if software is going to become a real second engine.
commercial test
recurring support and software
Service & software
$2.6M · 20% of listed segment revenue
It's $2.6M against $10.4M of system sales. Recurring revenue is present, but it is not carrying the business yet.
20% of mix
Key numbers
-$0.56
fy2024 eps est
$2B
fy2026 rev est
49.1%
gross margin
Gross profit kept about 49.1% of each revenue dollar.
n/a
dividend yield
Financial health
C++
strength
- balance sheet grade C++ — below average — limited financial resources
- risk rank 3 — safer than 50% of stocks
- price stability 5 / 100
C++ — below average. watch for debt servicing and cash burn.
Total return vs. market
Return history isn't available for HYPR right now.
source: institutional data · return history unavailable
What just happened
missed estimates
Hyperfine posted $8M in quarterly revenue, while EPS stayed negative at -$0.38.
The quarter sold 8 systems at a $361,000 average selling price. That points to real hardware demand, but the business is still small.
$8M
revenue
-$0.38
eps
49.1%
gross margin
units sold
8 units sold mattered because at a $361,000 average selling price, that is about $2.9M of hardware revenue in the quarter.
source: company earnings report, 2025
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What could go wrong
the top risk is portable MRI adoption staying too small to fund the business.
med
cash burn keeps mattering
HYPR still carries an fy2024 EPS estimate of -$0.56 and a C++ balance sheet grade. In plain English: losses are ongoing and the funding cushion does not look endless.
If revenue remains around Q3's $3.4M level instead of moving toward the $5M–$6M target, dilution risk gets harder to ignore.
med
hospital adoption stays lumpy
Eight units in a quarter is enough to show real demand exists. It is not enough to prove repeatable procurement cycles across a broad hospital base.
When unit volume is this low, a handful of delayed orders can swing most of the quarter's revenue.
med
software does not become a second engine
Optive AI was FDA cleared in May 2025, but service and software are still only $2.6M versus $10.4M of system sales. The recurring layer is real, just not proven at scale.
If software remains a small add-on rather than a reason to buy the hardware, the margin story stays limited to a small installed base.
A business doing $3.4M in quarterly revenue and targeting $5M–$6M next quarter does not have much room for execution mistakes.
source: institutional data · regulatory filings · risk analysis
Pay attention to
earnings
Q4 and full-year 2025 results
Scheduled for March 18, 2026. Management has already given you the scorecard: $5M–$6M in quarterly revenue.
revenue test
can quarterly revenue clear $5M
Q3 revenue was $3.4M. Moving into the guided range would show adoption is broadening, not just pricing improving.
unit trend
watch unit sales after the 8-unit quarter
The record $361,000 average price helped, but unit count is the cleaner signal. More hospitals ordering is the whole story.
software
does Optive AI change the mix
FDA clearance came in May 2025. If service and software stay near $2.6M while system sales do the work, the platform narrative stays early.
Analyst rankings
risk profile
average
risk rank 3 — typical risk profile — neither especially safe nor risky.
chart momentum
below average
momentum rank 4 — analysts see underperformance risk in the near term.
source: institutional data
Institutional activity
institutional ownership data for HYPR is being compiled.
source: institutional data
Price targets
3-5 year target range
n/a
n/a
$1
current price
n/a
target midpoint · n/a from current
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