Hyperfine (HYPR) Q2 2026 earnings summary

Executive summary

• Achieved Q2 2026 revenue of $3.9M, up 45% year-over-year, with 12 systems sold and strong adoption across hospitals, neurology offices, and international markets.

• Gross margin exceeded 50% for the fourth consecutive quarter, supported by higher device sales and improved operational efficiency.

• Launched next-generation Model 2 Swoop system with Optive AI software, receiving regulatory approvals in the US, EU, UK, and India.

• Strengthened balance sheet with $43.5M in cash and cash equivalents, aided by equity and debt financings.

• Reiterated full-year 2026 guidance, confident in growth, margins, and long-term opportunities.

Financial highlights

• Q2 2026 revenue was $3.9M, up from $2.7M in Q2 2025 (45% increase); first half revenue reached $7.8M, up 62% year-over-year.

• Sold 12 units in Q2 2026 (up 50% year-over-year); device sales grew 49% to $3.2M, service sales rose 29.2% to $0.7M.

• Gross profit for Q2 2026 was $2.0M; gross margin expanded to 50.7% from 49.3% year-over-year.

• Net loss for Q2 2026 was $9.3M ($0.09/share), including a $0.6M non-cash warrant liability loss.

• Operating expenses decreased 4.3% year-over-year, mainly from lower R&D costs; SG&A expenses rose slightly.

Outlook and guidance

• Full-year 2026 revenue expected at $20–$22M, representing 55% growth at midpoint.

• Gross margin guidance for 2026 remains at 50–55%, supported by scale and service revenue growth.

• Total cash burn for 2026 expected at $26–$28M, a 10% year-over-year decline at midpoint.

• Cash runway projected to extend into 2028, supported by balance sheet strength and disciplined spending.

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