Hyperfine, Inc. SEC 10-Q Report
Nov 13, 2025, 16:37 GMT-52 min read
 HYPR-4.55%
Hyperfine, Inc., a leading innovator in medical imaging technology, has released its Form 10-Q report for the third quarter of 2025. The report provides a comprehensive overview of the company's financial performance and operational highlights, reflecting both challenges and strategic advancements in the business.
Financial Highlights
Total Sales: $3.4 million for the three months ended September 30, 2025, a decrease of 5.7% compared to the same period in 2024, primarily driven by decreases in Swoop® system units sold offset by an increase in average selling price.
Total Sales: $8.3 million for the nine months ended September 30, 2025, a decrease of 21.8% compared to the same period in 2024, primarily driven by decreases in Swoop® system units sold.
Gross Margin: $1.8 million for the three months ended September 30, 2025, a decrease of 3.1% compared to the same period in 2024.
Gross Margin: $4.1 million for the nine months ended September 30, 2025, a decrease of 19.9% compared to the same period in 2024.
Loss from Operations: $(8.9) million for the three months ended September 30, 2025, an improvement of 18.6% compared to the same period in 2024.
Loss from Operations: $(29.4) million for the nine months ended September 30, 2025, an improvement of 9.4% compared to the same period in 2024.
Net Loss and Comprehensive Loss: $(11.0) million for the three months ended September 30, 2025, an increase of 6.71% compared to the same period in 2024.
Net Loss and Comprehensive Loss: $(29.7) million for the nine months ended September 30, 2025, a decrease of 2.2% compared to the same period in 2024.
Net Loss Per Common Share: $(0.14) for the three months ended September 30, 2025, consistent with the same period in 2024.
Net Loss Per Common Share: $(0.38) for the nine months ended September 30, 2025, compared to $(0.42) for the same period in 2024, reflecting a slight improvement.
Business Highlights
Revenue Segments: Device sales decreased by 4.7% for the three months ended September 30, 2025, compared to the same period in 2024, primarily due to a decrease in units sold, partially offset by an increase in average selling price. Service sales also decreased by 10.5% for the same period, driven by the expiration of subscription service contracts that were replaced by standard service and support contracts with a lower annual price.
Geographical Performance: The company has begun commercializing its Swoop® system in international markets, including Canada, certain European markets, Australia, and New Zealand. The Swoop® system has received regulatory authorizations in these regions, enabling broader commercial expansion.
Sales Units: Total Swoop® system units sold were 8 units for the three months ended September 30, 2025, compared to 13 units for the same period in 2024. For the nine months ended September 30, 2025, 22 units were sold compared to 39 units in the same period in 2024.
New Product Launches: The company launched its next-generation Swoop® system powered by Optive AI™ software, which features innovations engineered to deliver the highest signal-to-noise ratio and exceptional image quality for low-field MRI.
Future Outlook: The company plans to continue investing in the development of its products and services, commercial expansion, and international market penetration. It aims to leverage its strengths in AI and cloud technology to explore the Swoop® system’s role as a brain imaging clinical decision support platform. |
