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Hinge Health, Inc.
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$5.2B
Market Cap
P/E
PEG
-132.4%
ROCE
N/M
ROE
0.02
D/E
-92.9%
OPM
0.0%
% from 52W High
92
α RS
🔍 HNGE is showing a high-conviction setup because it matches 4 of 39 tracked screener presets, Sector RRG has Health Care in the Leading quadrant with the trail still strengthening, RS Rating is 92 (top decile vs market), and it has maintained a 5-day Near 52-Week High momentum persistence. Net: Broad signal stack, not a recommendation. ? Conviction RRG RS Rating Momentum Streaks
Sources
Conviction 4/39 · Health Care in Leading quadrant · RS Rating 92 · Near 52-Week High streak: 5d
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🌏 Global Investor Returns
Currency-adjusted total returns for HNGE including FX impact
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📈 Price History
Ratio Health
Excellent
Good
Average
Poor
By Category
📊 Sector Averages
About

Hinge Health, Inc. focuses on building a health system that scales and automates the delivery of care using technology. 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.

Key Ratios Snapshot
📈 Growth Pattern
📊 Quick Scorecard
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⭐ Superinvestors Holding HNGE
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Manager Shares Value % of Fund Period
Steve Cohen Point72 Asset Management 347.2K $13.4M 0.02% Mar 2026
Jim Simons Renaissance Technologies LLC 274.1K $10.6M 0.02% Mar 2026

SEC Form 13F data. 45-day lag from quarter end.

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📊 MIXED Q1 revenue $182M (47% YoY), launched Migraine Care program with 125 clients, 2M+ lives.
Revenue & Profitability
Q1 2026 revenue was $182 million, up 47% YoY from $124 million. LTM calculated billings reached $770 million (up 52% YoY). Operating income was $46 million (25% margin), well above guidance of $30-$32 million. Free cash flow was $42 million (23% margin). Full-year 2026 revenue guidance raised to $798-$804 million (from $732-$742 million) and operating income guidance raised to $205-$215 million (26% margin at midpoint).
Outlook
Management is optimistic, citing strong pipeline creation in Q1 2026 (substantially higher than Q1 2025) and continued strength in demand across client verticals. They see no impact from AI-driven employee displacement. Medicare expansion via the CMS ACCESS model was considered but not pursued due to concerns about removing clinical oversight for vulnerable populations.
Growth Drivers
Key growth levers include the massive, under-penetrated MSK market (only ~1% of PT market captured), the new Migraine Care program (1 in 6 U.S. adults affected), and Hinge Select (in-person provider network, now 4,100 locations). SMB pipeline was up over 100% YoY in Q1. Yield improvement (to slightly north of 4%) from better enrollment and post-enrollment engagement also drives growth.
Balance Sheet & CapEx
Not discussed in this earnings call.
Margins
Gross margin was 85% in Q1 2026 (up 400 bps from 81% in Q1 2025), driven by care team efficiency gains from AI. Operating margin reached 25% (up from 12% YoY). Management expects gross margin to hover around 85% due to increased Enso device distribution, but sees further operating leverage. Full-year 2026 operating margin guidance midpoint is 26%, up from previous 21%.
Key Risks
Management did not explicitly flag risks but noted they chose not to participate in the CMS ACCESS model due to concerns that it would remove clinical oversight for Medicare patients. No other risks were raised by analysts in Q&A.
Generated by AI · Q1 2026 results · Not investment advice
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✓ 📞 Earnings Call Transcripts (5 quarters) submit a missing quarter
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📞 Earnings Call Transcripts (5)
Q2 2026 Q2 2026 2026-08-04
Q2 2026 saw 53% revenue growth, margin expansion, and strong free cash flow, driven by robust enterprise and SMB performance, new product launches in migraine and GI, and the acquisition of Cylinder Health. Guidance for 2026 was raised, with continued focus on multi-product expansion and capital returns.
Q1 2026 Q1 2026 2026-05-05
Q1 2026 saw revenue and profitability far exceed expectations, driven by strong demand, AI-enabled efficiency, and rapid adoption of new offerings like Migraine Care. Guidance for 2026 was raised significantly, reflecting robust pipeline growth and expanding client base.
Q4 2025 Q4 2025 2026-02-10
Delivered record 2025 results with 51% revenue growth, 31% free cash flow margin, and strong client expansion. Guidance for 2026 projects 25% revenue growth and continued profitability, supported by AI-driven efficiency and new product launches.
Q3 2025 Q3 2025 2025-11-04
Q3 revenue grew 53% year-over-year to $154M, with gross margin at 83% and operating margin at 20%. Strong client growth, robust free cash flow, and AI-driven efficiency led to raised full-year guidance and continued investment in R&D and new products.
Q2 2025 Q2 2025 2025-08-05
Q2 2025 saw 55% year-over-year revenue growth to $139M, with strong operating and free cash flow margins. Guidance for 2025 was raised, driven by higher eligible lives, improved yields, and product innovation, including the launch of Hinge Select.
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📊 Analysis Methodology

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Financial Model
Projections are built from each company's audited annual financials (Income Statement, Balance Sheet, Cash Flow) over the last 5 fiscal years. Forward assumptions — revenue growth %, EBITDA margin, D&A (USD millions), interest expense, tax rate, and capex — are AI-generated using historical context and refreshed twice a year: after the December results season and after the September/Q4 results season.

DCF Valuation
Fair Value = Σ(FCFt / (1+WACC)t) + Terminal Value. Terminal Value uses the Gordon Growth Model: FCF5 × (1+g) / (WACC−g). Default WACC: 10% (US risk-free ~4.5%, equity risk premium ~5.5%). Default terminal growth: 3% (long-run US nominal GDP proxy).

CAGR Tracker
Expected 5-year CAGR = (DCF Fair Value / Current Price)1/5 − 1. Assumes fair value is reached in exactly 5 years — a mechanical estimate only.

Data Sources & Limitations
Financial statements sourced from public filings. Prices updated daily. Forward assumptions are AI-generated. All monetary values in USD millions. Non-US ADR companies may have currency conversion inaccuracies. Models are point-in-time and do not update intra-quarter or account for M&A, macro shocks, or extraordinary items.

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Investment Risk:
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No Investment Recommendation:
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Information Sources:
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