Hinge Health, Inc. (HNGE) Income Statement
HNGE 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsHNGE revenue and net income
Where HNGE's revenue goes
2025Each bar shows an amount and its share of revenue. HNGE kept −89.9% of revenue as net income.
HNGE profit margins
HNGE growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +50.6% | — | — | — |
| Gross profit | +56.1% | — | — | — |
| Operating income | — | — | — | — |
| Net income | — | — | — | — |
| EPS (diluted) | — | — | — | — |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
HNGE quarterly EPS vs estimates
Hinge Health beat the analyst EPS estimate in 5 of the last 5 quarters. Next report: November 2, 2026 (estimate $0.27).
HNGE income statement
| 2025 | 2024 | 2023 | |
|---|---|---|---|
| Revenue | $587.9M | $390.4M | $292.7M |
| Cost of revenue | $118.6M | $89.8M | $98.6M |
| Gross profit | $469.3M | $300.6M | $194.2M |
| Research & development | $368.1M | $100.8M | $110.1M |
| Sales, general & admin | $639.4M | $227.5M | $214.6M |
| Total operating expenses | $1.02B | $332.5M | $324.7M |
| Operating income | −$546.4M | −$31.9M | −$130.5M |
| Income before taxes | −$527.3M | −$11.3M | −$108.5M |
| Income taxes | $998,000 | $677,000 | −$405,000 |
| Net income | −$528.3M | −$11.9M | −$108.1M |
| EBITDA | −$535.9M | −$18.5M | −$124.9M |
| EPS (diluted) | $1.83 | −$0.15 | −$1.39 |
| Gross margin | 79.8% | 77.0% | 66.3% |
| Operating margin | −92.9% | −8.2% | −44.6% |
| Net margin | −89.9% | −3.1% | −36.9% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $212.8M | $182.3M | $170.7M | $154.2M | $139.1M | $123.8M | $117.3M | $100.6M | $89.8M | $82.7M | $81.5M | $81.4M |
| Cost of revenue | $28.9M | $28.1M | $26.6M | $28.0M | $41.3M | $23.6M | $21.2M | $21.4M | $23.2M | $24.8M | $23.0M | $23.2M |
| Gross profit | $183.9M | $154.2M | $144.2M | $126.2M | $97.8M | $100.2M | $96.1M | $79.2M | $66.6M | $57.9M | $58.5M | $58.1M |
| Research & development | $34.1M | $30.3M | $32.8M | $31.9M | $280.0M | $23.5M | $22.4M | $23.8M | $24.9M | $30.8M | $28.6M | $28.5M |
| Sales, general & admin | $109.5M | $91.8M | $83.5M | $100.4M | $398.5M | $63.6M | $52.3M | $59.3M | $59.2M | $59.6M | $60.4M | $52.0M |
| Total operating expenses | $143.5M | $122.2M | $116.9M | $132.3M | $678.4M | $87.1M | $75.2M | $83.1M | $84.2M | $89.4M | $89.0M | $80.4M |
| Operating income | $40.4M | $32.1M | $27.3M | −$6.1M | −$580.7M | $13.1M | $20.9M | −$3.8M | −$17.6M | −$31.4M | −$30.5M | −$22.3M |
| Income before taxes | $44.4M | $35.9M | $32.2M | −$1.6M | −$576.0M | $122.3M | $26.2M | $1.4M | −$12.6M | −$26.3M | −$24.6M | −$16.7M |
| Income taxes | $740,000 | $814,000 | $122,000 | $206,000 | −$326,000 | $998,000 | −$951,000 | $1.1M | $361,000 | $158,000 | −$437,000 | $32,000 |
| Net income | $43.7M | $35.1M | $32.1M | −$1.8M | −$575.7M | $121.3M | $27.1M | $341,000 | −$12.9M | −$26.5M | −$24.1M | −$16.8M |
| EBITDA | $45.5M | $33.2M | $29.7M | −$4.8M | −$579.3M | $13.6M | $22.7M | −$3.2M | −$17.0M | −$30.8M | −$24.5M | −$16.6M |
| EPS (diluted) | $0.66 | $0.45 | $0.49 | $0.44 | $0.70 | $0.20 | — | — | — | — | — | — |
| Gross margin | 86.4% | 84.6% | 84.4% | 81.9% | 70.3% | 80.9% | 81.9% | 78.8% | 74.2% | 70.1% | 71.7% | 71.4% |
| Operating margin | 19.0% | 17.6% | 16.0% | −4.0% | −417.5% | 10.6% | 17.8% | −3.8% | −19.5% | −38.0% | −37.4% | −27.4% |
| Net margin | 20.5% | 19.3% | 18.8% | −1.2% | −413.8% | 98.0% | 23.1% | 0.3% | −14.4% | −32.0% | −29.6% | −20.6% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in HNGE's financial statements (latest annual report filed March 3, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
HNGE financial results
In fiscal year 2025 (ended December 31, 2025), Hinge Health reported revenue of $587.9 million, up 50.6% from the year before. It had a net loss of $528.3 million, a net profit margin of −89.9%. Diluted earnings per share came to $1.83.
See the HNGE stock overview for the latest quote and news, or the HNGE chart for price history and technical indicators.
HNGE income statement FAQ
What is Hinge Health's annual revenue?
Hinge Health reported total revenue of $587.9 million for fiscal year 2025, which ended on December 31, 2025. That was up 50.6% from $390.4 million the previous year.
Is Hinge Health profitable?
No. Hinge Health reported a net loss of $528.3 million in fiscal 2025, a net profit margin of −89.9%; its operating margin was −92.9%.
What is Hinge Health's gross margin?
Hinge Health's gross margin was 79.8% in fiscal 2025: for every $100 of revenue, Hinge Health kept $80 after the direct cost of its products and services.
How much does Hinge Health spend on research and development?
Hinge Health spent $368.1 million on research and development in fiscal 2025, 62.6% of revenue.
What are Hinge Health's earnings per share?
Hinge Health earned $1.83 per diluted share in fiscal 2025, compared with $-0.15 a year earlier.
When will Hinge Health report its next earnings?
Hinge Health is expected to report results for the quarter ending September 30, 2026 on November 2, 2026 after the market closes.
When does Hinge Health's fiscal year end?
Hinge Health's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on March 3, 2026.