Hyperfine (HYPR) Q1 2026 earnings summary

Executive summary

• Q1 2026 revenue reached $3.9 million, up 83% year-over-year, marking the second-highest quarter ever, driven by higher device sales and increased average selling price.

• Sold 10 Swoop® system units in Q1 2026, a 67% increase from the prior year period.

• Achieved CE and UKCA marks for the next-gen Swoop system and Optive AI software, with expanded regulatory clearances in the US, EU, UK, and India.

• Significant progress in clinical studies, including over 50% enrollment in the Contrast PMR study and launch in India with first clinical use at AIIMS, New Delhi.

• Extended cash runway into 2028 with $15 million debt financing.

Financial highlights

• Q1 2026 revenue was $3.9 million, up from $2.1 million in Q1 2025, an 83% increase.

• Gross profit was $2.0 million (51% margin), up from $0.9 million (41% margin) year-over-year.

• R&D expenses decreased 24% to $3.8 million; SG&A expenses remained flat at $6.7 million.

• Net loss was $8.6 million ($0.09/share), improved from $9.4 million ($0.12/share) in Q1 2025.

• Cash and equivalents stood at $40.8 million as of March 31, 2026, including $15 million from a new debt facility.

Outlook and guidance

• 2026 revenue guidance reiterated at $20–$22 million, with 55% year-over-year growth at midpoint.

• Gross margin expected to be 50–55% for 2026, with second half margins exceeding first half.

• Full-year cash burn expected at $26–$28 million, a 10% decline year-over-year.

• Cash runway extends into 2028, excluding potential additional $25 million in growth capital.

• Management expects continued investment in R&D and commercial expansion, with ongoing negative cash flows until sales generate sufficient gross profit.