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Hinge Health, Inc. Class A
(NYSE:HNGE)
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Rating:73Outperform
Price Target:
$129.00
▲(47.68% Upside)
Action:Reiterated
Date:10/29/26
The score is driven primarily by strong financial momentum (high growth, high gross margins, low leverage, and surging cash generation) and a very positive earnings update with raised guidance and expanding operating income. Offsetting factors are a stretched valuation (high P/E, no dividend yield provided) and a technically extended setup (overbought signals), alongside ongoing questions about earnings quality given the prior period’s large net loss despite strong cash flow.
Positive Factors
Rapid Revenue Growth
Sustained revenue growth at this pace indicates strong customer adoption and expanding commercial reach. Raised full-year guidance reinforces management confidence in the trajectory, supporting continued investment in the platform and improving the company’s ability to build durable scale.
Negative Factors
Severe Earnings Volatility
The sharp deterioration in accounting profitability creates uncertainty about normalized earnings and the durability of current margins. Even with strong cash generation, a large net loss may reflect significant costs or charges that could continue to obscure the company’s underlying economic performance.
Read all positive and negative factors
Positive Factors
Negative Factors
Rapid Revenue Growth
Sustained revenue growth at this pace indicates strong customer adoption and expanding commercial reach. Raised full-year guidance reinforces management confidence in the trajectory, supporting continued investment in the platform and improving the company’s ability to build durable scale.
Read all positive factors
Hinge Health, Inc. Class A (HNGE) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$9.22B
Dividend YieldN/A
Average Volume (3M)1.86M
Price to Earnings (P/E)84.9
Beta (1Y)1.68
Revenue Growth49.76%
EPS GrowthN/A
CountryUS
Employees1,437
SectorHealthcare
Sector Strength45
IndustryMedical - Healthcare Information Services
Share Statistics
EPS (TTM)1.35
Shares Outstanding62,468,720
10 Day Avg. Volume1,965,813
30 Day Avg. Volume1,855,055
Financial Highlights & Ratios
PEG Ratio>-0.01
Price to Book (P/B)9.72
Price to Sales (P/S)6.26
P/FCF Ratio21.54
Enterprise Value/Market Cap0.71
Enterprise Value/Revenue9.08
Enterprise Value/Gross Profit10.75
Enterprise Value/Ebitda63.14
Forecast
1Y Price Target
$112.00Price Target Upside28.22% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering14
EPS Forecast (FY)2.32
Revenue Forecast (FY)$860.59M
Hinge Health, Inc. Class A Business Overview & Revenue Model
Company Description
Established in 2012 and headquartered in San Francisco, California, Hinge Health, Inc. creates specialized healthcare software solutions for musculoskeletal and joint health. Their advanced platform is designed to comprehensively manage a spectrum...
How the Company Makes Money
Public, company-specific details sufficient to describe Hinge Health, Inc. (HNGE) revenue model and key revenue streams are not available in the information provided here; therefore, this data point is null....
Hinge Health, Inc. Class A Earnings Call Summary
Earnings Call Date:Aug 04, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Nov 02, 2026
Earnings Call Sentiment Positive
The call presents a strongly positive operational and financial story: high top-line growth (+53% Q2 revenue), substantial billings momentum (+52% LTM billings), marked margin and free cash flow expansion (operating margin +1,000 bps YoY; free cash flow 3x YoY), raised guidance, and concrete product/TAM expansion (Migraine traction and the $105M Cylinder acquisition to enter GI). Key risks are manageable near-term execution items — integrating Cylinder, some non-recurring margin tailwinds (tariff refund), reliance on continued yield improvements for upside, and heightened competitive noise. Overall, the positives (growth, profitability, cash generation, product traction, and clinical evidence) materially outweigh the near-term integration and concentration risks.Positive Updates
Strong Revenue Growth and Guidance Raise
Q2 revenue of $213 million, up 53% year-over-year (vs $139M in Q2 2025), beating prior guidance of $200M-$202M. Full-year 2026 revenue guidance raised to $856M-$860M (midpoint $858M, +46% YoY). Q3 2026 guidance of $223M-$225M (midpoint $224M, +45% YoY).
Negative Updates
Cylinder Integration and Near-term Profitability Pressure
Cylinder is a younger, less-mature business running at a modest loss historically; the company expects integration work (product/tech stack harmonization over ~9–12 months) and initial integration costs. Cylinder's 2026 contribution is modest ($7M-$8M for ~4 months) with material expansion expected further out (notably 2028 after a full selling season).
Read all updates
Q2-2026 Updates
Positive
Negative
Strong Revenue Growth and Guidance Raise
Q2 revenue of $213 million, up 53% year-over-year (vs $139M in Q2 2025), beating prior guidance of $200M-$202M. Full-year 2026 revenue guidance raised to $856M-$860M (midpoint $858M, +46% YoY). Q3 2026 guidance of $223M-$225M (midpoint $224M, +45% YoY).
Read all positive updates
Company Guidance
Hinge Health raised its outlook, guiding Q3 revenue to $223–225M (midpoint $224M, +45% YoY) and Q3 operating income to $61–63M (≈28% operating margin at the midpoint); for full-year 2026 it now expects revenue of $856–860M (midpoint $858M, +46% YoY) and operating income of $236–244M (≈28% operating margin at the midpoint, up from prior $217–227M / ~27%); management expects yield ≈4.45% for the year, ASP roughly flat, eligible lives tracking in line, diluted shares to finish 2026 at 85–87M, Cylinder Health to contribute roughly $7–8M of revenue for the remaining ~4 months of 2026, and the board approved a $300M share repurchase authorization.Hinge Health, Inc. Class A Financial Statement Overview
Summary
Income Statement
36
Negative
Balance Sheet
74
Positive
Cash Flow
78
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 |
|---|---|---|---|---|
Income Statement | ||||
| Total Revenue | 720.06M | 587.86M | 390.40M | 292.73M |
| Gross Profit | 608.59M | 469.30M | 300.59M | 194.18M |
| EBITDA | 103.59M | -535.89M | -18.48M | -124.89M |
| Net Income | 109.07M | -528.26M | -11.93M | -108.14M |
Balance Sheet | ||||
| Total Assets | 827.40M | 744.76M | 673.26M | 622.53M |
| Cash, Cash Equivalents and Short-Term Investments | 389.39M | 363.86M | 466.57M | 423.36M |
| Total Debt | 5.88M | 8.04M | 11.07M | 15.73M |
| Total Liabilities | 483.07M | 366.23M | 256.56M | 195.25M |
| Stockholders Equity | 344.33M | 378.54M | 416.70M | 427.28M |
Cash Flow | ||||
| Free Cash Flow | 287.33M | 170.73M | 45.23M | -68.52M |
| Operating Cash Flow | 290.79M | 171.44M | 49.00M | -63.91M |
| Investing Cash Flow | -19.75M | -113.76M | 18.31M | 1.50M |
| Financing Cash Flow | -222.34M | -150.47M | -2.20M | -3.00M |
Hinge Health, Inc. Class A Technical Analysis
Positive
87.35
Price Trends
98.17
Positive
89.30
Positive
67.06
Positive
Market Momentum
5.21
Negative
67.50
Neutral
89.92
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HNGE, the sentiment is Positive. The current price of 87.35 is below the 20-day moving average (MA) of 106.58, below the 50-day MA of 98.17, and above the 200-day MA of 67.06, indicating a bullish trend. The MACD of 5.21 indicates Negative momentum. The RSI at 67.50 is Neutral, neither overbought nor oversold. The STOCH value of 89.92 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for HNGE.
Hinge Health, Inc. Class A Risk Analysis
Hinge Health, Inc. Class A disclosed 83 risk factors in its most recent earnings report. Hinge Health, Inc. Class A reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 2 New Risks
1.
We are expanding into migraine care, a new therapeutic area for us, and our migraine care program may not achieve the clinical outcomes, member engagement, or commercial success we anticipate. Q2, 2026
2.
The expansion of HingeSelect to include orthopedic surgery introduces new clinical, operational, and commercial risks that could adversely affect our business. Q2, 2026
Hinge Health, Inc. Class A Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
73 Outperform | $9.22B | 84.90 | 30.25% | ― | 49.76% | ― | |
68 Neutral | $1.15B | 275.85 | 1.84% | ― | 47.63% | ― | |
56 Neutral | $1.55B | -9.90 | -11.63% | ― | -2.38% | 32.73% | |
56 Neutral | $2.74B | 95.51 | 0.01% | ― | 24.10% | 84.08% | |
55 Neutral | $216.52M | -2.67 | -33.27% | ― | -19.00% | 40.98% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
44 Neutral | $1.43M | -0.05 | -400.87% | ― | -9.31% | 89.42% |
* Healthcare Sector Average
HNGE
Hinge Health, Inc. Class A
114.32
63.98
127.10%
TDOC
Teladoc
8.51
0.37
4.55%
AMWL
American Well
12.73
7.64
150.10%
PRVA
Privia Health Group
21.48
-3.28
-13.25%
VSEE
VSee Health
1.78
-77.42
-97.75%
OMDA
Omada Health, Inc.
18.73
-6.94
-27.04%
Hinge Health, Inc. Class A Corporate Events
Business Operations and Strategy
Hinge Health Expands Corporate Footprint with Major SF Lease
Positive
Aug 21, 2026
On August 18, 2026, Hinge Health, Inc. signed a long-term lease for about 119,278 rentable square feet of office space at 300 Mission Street in San Francisco, California, marking a significant physical expansion of its operations. The lease, which...
Business Operations and StrategyStock BuybackFinancial DisclosuresM&A Transactions
Hinge Health Posts Record Q2 Results, Raises Outlook
Positive
Aug 4, 2026
Hinge Health, Inc. is a San Francisco-based digital health company focused on scaling and automating the delivery of care using an AI-powered model, connected hardware and expert clinicians. The company specializes in musculoskeletal programs and ...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.