HNGE · NYSE · Healthcare
Hinge Health, Inc. (HNGE) — Rank #59 by gross profitability (GP/assets 0.57) · ROE -153.4% · Piotroski F-Score 4 / 9.
As-of 2026-10-30 · CIK 0001673743 · all metrics point-in-time as of the filing date.
About
Hinge Health, Inc. focuses on building a health system that scales and automates the delivery of care using technology.
Show moreShow less
It designs its platform to address musculoskeletal system care (MSK), including acute injury, chronic pain, and post-surgical rehabilitation. The company also provides personalized and automated MSK care through AI-powered motion tracking technology and a proprietary electrical nerve stimulation wearable device. It primarily serves self-insured employers.
The company was founded in 2012 and is headquartered in San Francisco, California.
- Industry
- Health Information Services
- Sector
- Healthcare
- State
- DE
- Filer Category
- Emerging growth company
- Fiscal Year End
- December 31
- Website
- hingehealth.com
Company Snapshot
P/S is the primary valuation lens — earnings are reinvested, not available for P/E.
Market Cap
—
P/E (annual)
—
P/S (annual)
—
P/B
—
P/OCF (annual)
—
Shareholder Yield
—
Employees
1,437
Industry
Health Information Services
Exchange
NYSE
10/12
Flags passed
HNGE fails 1 critical flag
Passes 10 of 12 quality flags, 1 caution
- FAILOperating margin declining
Operating margin lower than prior year
- CAUTIONDilution above 2%
Annual share count increase exceeds 2%. May be acceptable for high-growth companies funding talent via stock compensation
- PASSGross margin holding
- PASSFCF not negative from investment
- PASSDisclosure consistent
- PASSRevenue not declining
- PASSFree cash flow intact
- PASSPasses safety gate
- PASSBalance sheet stable
- PASSNo competitive retreat
- PASSSBC not compressing margin
- PASSNo valuation convergence
Strengths Revenue growth accelerating · Deferred revenue growing · Sequential beat (rev + EPS)
A count of the 12 warning flags that could be evaluated. Unweighted: colour follows the worst flag.
Quality Profile
Profitability
1/1 passSafety
1/1 passCash Flow
3/3 passGrowth
1/2 passRevenue growth and the path to profitability (margin trend) are the primary reads at this stage.
Profitability
Does it make money well?
Warning: Operating margin declining · GP/assets 0.57
Gross profitability (GP / assets)
0.57
Primary signal (Novy-Marx).
5th of 14 SIC 7374 peers
Return on equity
-153.4%
Gross margin
79.6%
4th of 14 SIC 7374 peers
Revenue growth (YoY)
50.6%
Gross margin improving
Margin trend vs prior year.
Operating Leverage
| 2023 | 2024 | 2025 | |
|---|---|---|---|
| Revenue vs COGS | |||
| Revenue vs OpEx | |||
| Op. Income vs Revenue |
Cash Flow Health
Is the cash real?
No warning flags · FCF 132% above net income
Free cash flow
$170.73M
Operating cash flow minus capex.
Positive free cash flow
FCF vs net income
132.3%
(FCF − net income) ÷ |net income|. Positive: cash above earnings. Negative: below.
FCF not below net income
Fails when free cash flow is below net income (yellow flag).
Accruals healthy
Cash-backed earnings.
SBC / revenue
109.4%
Stock-based comp intensity.
Balance Sheet Strength
Can it survive a storm?
Caution: Dilution above 2% · net cash $504.91M, F-Score 4/9
Balance-sheet safety
Composite anti-fragile check.
Debt / equity
1.40
9th of 12 SIC 7374 peers (best = lowest)
Current ratio
1.34×
11th of 14 SIC 7374 peers
Quick ratio
1.31×
Net cash
$504.91M
Cash & equivalents minus total debt.
Piotroski F-Score
4 / 9
Fundamental-strength score (0-9).
Valuation
Is the price reasonable?
No warning flags
Capital allocation quality
Composite score
2.0 / 5
Lifecycle Phase History
Price History
Source filings on SEC EDGAR: 10-K annual reports · 10-Q quarterly reports