Hyperfine — Third Quarter 2026 Earnings Summary

Financial Performance

• Preliminary, unaudited Q3 2026 revenue is expected to be approximately $6.0 million, representing 53% sequential growth compared to Q2 2026.
• Preliminary, unaudited revenue for the nine months ended September 30, 2026, is expected to be approximately $13.8 million, a 66% increase compared to the same period in 2025.
• Preliminary, unaudited net cash burn (excluding financing proceeds) for Q3 2026 is expected to be approximately $5.6 million, a 29% sequential improvement compared to Q2 2026.
• Preliminary, unaudited net cash burn (excluding financing proceeds) for the nine months ended September 30, 2026, is expected to be approximately $22.2 million, an 8% improvement compared to the nine months ended September 30, 2025.
• Q3 2026 preliminary revenue is expected to exceed preliminary net cash burn for the first time.
• Preliminary, unaudited cash and cash equivalents as of September 30, 2026, are expected to be approximately $37.9 million.
• The company did not raise any financing proceeds during Q3 2026.

Guidance and Future Outlook

• Management reaffirms full-year 2026 revenue guidance of approximately $20 to $22 million, representing 55% growth at the midpoint compared to full-year 2025.
• Management reaffirms full-year 2026 net cash burn guidance (excluding financing proceeds) of approximately $26 to $28 million, representing a 10% decline at the midpoint compared to full-year 2025.
• Complete Q3 2026 financial results are expected to be provided during the earnings call on November 9, 2026.

Business Segments and Product Lines

• Strong momentum was reported across three commercial verticals: health systems, office-based/wellness/longevity, and mobile settings.
• Growth drivers include new and follow-on orders from health systems, expansion across hospital sites of care, and the rollout of the Model 2 Swoop system in international markets.
• The Swoop system is the first FDA-cleared AI-powered portable MRI system for the brain.

Other Key Points

• The company is entering the "decade of brain health" with a focus on accessible brain imaging integrated into the AI ecosystem.
• Preliminary financial information is unaudited and subject to completion of quarter-end closing procedures; actual results may differ.
• Net cash burn is a non-GAAP measure calculated as the change in cash and cash equivalents less net financing proceeds.
• The company has not provided a reconciliation of full-year 2026 net cash burn guidance to the forward-looking net change in cash and cash equivalents due to the unpredictability of future financing proceeds.