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Hyperfine (HYPR) investor relations material
Hyperfine Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Launched next-generation Swoop® system and Optiv/Optive AI software, expanding into neurology offices and receiving strong initial feedback and clinical validation.
Achieved strong commercial traction with rapid adoption in hospitals and offices, supported by robust clinical evidence and positive market feedback.
Platform technology addresses large unmet needs in brain health, with expansion opportunities for additional anatomies and global reach.
Expanded international presence with CE and UKCA Mark approvals for latest software in Europe, UK, Canada, Australia, and New Zealand.
Deployed systems in low- and middle-income countries through Bill & Melinda Gates Foundation grants.
Financial highlights
Q3 2025 revenue reached $3.4 million, up 27% sequentially from Q2 2025, with eight units sold and strong next-gen system mix.
Gross margin was $1.8 million (53.8%), a record and up 450 basis points from Q2 2025, driven by higher ASP.
Net loss for Q3 2025 was $11.0 million ($0.14 per share), compared to $9.2 million ($0.12 per share) in Q2 2025; includes $2.3 million non-cash warrant liability change.
Cash and cash equivalents as of September 30, 2025, were $21.6 million, with $20.1 million gross equity financing in October 2025 extending runway into H2 2027.
R&D expenses were $4.0 million in Q3 2025, down from $4.5 million in Q2 2025; SG&A was $6.7 million, up from $6.4 million.
Outlook and guidance
Q4 2025 revenue expected at $5–$6 million, representing 60% sequential and 137% year-over-year growth at midpoint.
Full-year 2025 revenue guidance: $13–$14 million; gross margin for 2025 raised to 49–51%, a 430 bps year-over-year increase.
Full-year 2025 cash burn expected at $29–$31 million, a 22% year-over-year decline.
Cash runway now projected into the second half of 2027.
Ongoing focus on commercial execution, cost control, and international expansion.
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