Hinge Health, Inc. (HNGE) Q3 2025 Earnings Call Transcript
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Nov 04 2025
0mins
Should l Buy HNGE?
Source: SeekingAlpha
Revenue $154 million for Q3, representing 53% year-over-year growth. This growth was attributed to strong billings performance and the continued strength of underlying fundamentals.
Last 12 Months Calculated Billings $624 million, up 50% compared to the same period last year. This reflects the strength of current execution and opportunities in automating healthcare services.
Gross Margin 83% this quarter, up from 79% in Q3 of last year. The improvement reflects the scalability of the technology-driven care model.
Operating Margin 20%, a significant improvement from negative 4% in Q3 last year. This improvement is driven by investments in automation and AI, which are creating operational leverage.
Free Cash Flow $81 million this quarter compared to $28 million in Q3 of 2024. This represents a free cash flow margin of 53%, highlighting operational efficiency and a strong business model.
Eligible Lives Growth in eligible lives contributed to the strong billings performance, reflecting a healthy client base and successful launches of new clients.
Yield Targeted enrollment initiatives doubled enrollees compared to Q3 2024, contributing to strong engagement and excellent yield performance.
Average Selling Price Remained essentially flat for the year, with 48% of eligible lives opting for the new engagement-based pricing model.
Operating Expenses 63% of revenue in Q3, down from 83% in the same quarter last year, demonstrating improved operational efficiency.
Income from Operations $30 million, with a 20% operating margin, a substantial improvement from negative 4% in Q3 2024.
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Analyst Views on HNGE
Wall Street analysts forecast HNGE stock price to rise
14 Analyst Rating
14 Buy
0 Hold
0 Sell
Strong Buy
Current: 39.470
Low
59.00
Averages
64.50
High
72.00
Current: 39.470
Low
59.00
Averages
64.50
High
72.00
About HNGE
Hinge Health, Inc. leverages software, including artificial intelligence (AI), to largely automate care for joint and muscle health. The Company has designed its TrueMotion platform to address a spectrum of musculoskeletal (MSK) care from acute injury to chronic pain, to post-surgical rehabilitation. Members receive personalized and automated MSK care through its AI-powered motion tracking technology. It offers electrical nerve stimulation wearable device Enso, all designed and monitored by its AI-supported care team of licensed physical therapists, physicians, and board-certified health coaches. Its platform offers a range of support with multiple programs across many affected areas to provide a continuum of care from prevention to treatment of acute injury and chronic pain, as well as surgery decision support and post-surgical recovery. Enso delivers electrical nerve stimulation designed to provide non-addictive and non-invasive pain relief.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Hinge Health Surges 15% After Beating Q4 Earnings Expectations
- Earnings Beat: Hinge Health reported Q4 earnings of $0.49 per share, surpassing analyst expectations of $0.43, with sales reaching $170.7 million, exceeding the forecast of $156.8 million, indicating strong market performance and profitability.
- Significant Sales Growth: Q4 sales surged 46% year-over-year, with gross margins expanding by 200 basis points, demonstrating Hinge's substantial progress in treating musculoskeletal conditions and enhancing its competitive position in the market.
- Strong Cash Flow: Free cash flow increased by 65% to $61.5 million, reflecting the company's conservative approach to capital expenditures, allowing investors to rely on accurate cash flow figures and bolstering investor confidence.
- Optimistic Future Outlook: Hinge forecasts a 39% sales growth in Q1 2026, aiming for approximately $737 million in annual sales, with management projecting non-GAAP earnings growth to exceed sales growth, highlighting the company's potential for continued expansion.
See More
Hinge Health Surpasses Q4 Earnings Expectations, Stock Jumps 15%
- Earnings Beat: Hinge Health reported Q4 earnings of $0.49 per share, exceeding analysts' expectations of $0.43, with sales reaching $170.7 million, surpassing the forecast of $156.8 million, indicating robust performance in the healthcare platform sector.
- Significant Sales Growth: The company experienced a 46% year-over-year sales increase, with gross margins expanding by 200 basis points, demonstrating substantial market expansion and improved profitability in treating musculoskeletal conditions.
- Strong Free Cash Flow: Hinge's free cash flow increased by 65% to $61.5 million, reflecting effective capital expenditure management and enhancing investor confidence in its financial health.
- Optimistic Future Outlook: The company forecasts a 39% sales growth in Q1 2026, aiming for annual sales of approximately $737 million, with management projecting a 29% growth in non-GAAP earnings, indicating sustained growth potential.
See More
Hinge Health Reports Strong Q4 Earnings, Exceeds Expectations
- Strong Performance: Hinge Health reported adjusted earnings per share of 49 cents for Q4, surpassing the expected 39 cents, with sales reaching $170.73 million, a 46% year-over-year increase, highlighting the company's robust position in pain management.
- Margin Improvement: The gross margin rose to 84% from 82% a year ago, while the adjusted gross margin reached 85%, indicating ongoing enhancements in cost management and profitability.
- Client and Member Growth: The number of clients increased by 25% year-over-year to 2,830, and membership grew by 47% to 782,890, reflecting significant market penetration and demand for services.
- Positive Outlook: Hinge Health expects Q1 2026 sales between $171 million and $173 million, exceeding the consensus of $160.28 million, demonstrating strong commercial momentum and sustained profitability.
See More
Hinge Health Reports Strong Q4 2025 Earnings with 46% Revenue Growth
- Significant Revenue Growth: Hinge Health reported $171 million in Q4 revenue, a 46% year-over-year increase, with full-year revenue reaching $588 million, reflecting a 51% growth compared to 2024, showcasing strong momentum in the digital health sector.
- Expanded Client Base: By the end of 2025, the company had over 2,800 clients covering nearly 25 million contracted lives, with 53% of clients from the Fortune 100, indicating a significant penetration among large enterprises.
- Effective AI Tools: The rollout of the AI assistant Robin resulted in a 28% reduction in care team time per asynchronous session, while achieving a 92% member satisfaction rating, which not only improved service efficiency but also enhanced customer loyalty.
- Optimistic Future Outlook: The CFO projected Q1 2026 revenue to be between $171 million and $173 million, representing a 39% year-over-year growth, with full-year revenue guidance of $732 million to $742 million, reflecting strong confidence in future growth.
See More
Analysis of After-Hours Trading Performance of Multiple Companies
- Robinhood Revenue Decline: Robinhood's Q4 revenue of $1.28 billion fell short of the $1.34 billion expected by analysts, with transaction revenue also missing at $776 million, leading to a 7% drop in stock price, reflecting market concerns over its profitability.
- Lyft's Poor Performance: Lyft's stock dropped 15%, as its Q4 bookings of $5.07 billion met expectations, but its first-quarter adjusted EBITDA guidance of $120 million to $140 million fell short of the $139.8 million consensus, indicating pressure on profitability.
- Mattel's Disappointing Guidance: Mattel's stock plummeted 25%, with full-year adjusted earnings guidance ranging from $1.18 to $1.30 per share, significantly below the $1.77 expected by the market, and Q4 results also missed expectations, highlighting weakness in the toy market.
- Cloudflare's Strong Outlook: Cloudflare's stock surged 10% after projecting Q1 revenue between $620 million and $621 million, exceeding the $614 million consensus, and its Q4 results also surpassed analyst expectations, showcasing strong growth potential in the cloud networking market.
See More
HINGE HEALTH REPORTS Q4 NON-GAAP DILUTED EARNINGS PER SHARE OF $0.49
- Financial Performance: Hinge Health reported a Q4 non-GAAP diluted net income per share of $0.49.
- Market Position: The company continues to strengthen its position in the digital health sector, focusing on innovative solutions for musculoskeletal care.
See More
Hinge Health Surges 15% After Beating Q4 Earnings Expectations
- Earnings Beat: Hinge Health reported Q4 earnings of $0.49 per share, surpassing analyst expectations of $0.43, with sales reaching $170.7 million, exceeding the forecast of $156.8 million, indicating strong market performance and profitability.
- Significant Sales Growth: Q4 sales surged 46% year-over-year, with gross margins expanding by 200 basis points, demonstrating Hinge's substantial progress in treating musculoskeletal conditions and enhancing its competitive position in the market.
- Strong Cash Flow: Free cash flow increased by 65% to $61.5 million, reflecting the company's conservative approach to capital expenditures, allowing investors to rely on accurate cash flow figures and bolstering investor confidence.
- Optimistic Future Outlook: Hinge forecasts a 39% sales growth in Q1 2026, aiming for approximately $737 million in annual sales, with management projecting non-GAAP earnings growth to exceed sales growth, highlighting the company's potential for continued expansion.
See More
Hinge Health Surpasses Q4 Earnings Expectations, Stock Jumps 15%
- Earnings Beat: Hinge Health reported Q4 earnings of $0.49 per share, exceeding analysts' expectations of $0.43, with sales reaching $170.7 million, surpassing the forecast of $156.8 million, indicating robust performance in the healthcare platform sector.
- Significant Sales Growth: The company experienced a 46% year-over-year sales increase, with gross margins expanding by 200 basis points, demonstrating substantial market expansion and improved profitability in treating musculoskeletal conditions.
- Strong Free Cash Flow: Hinge's free cash flow increased by 65% to $61.5 million, reflecting effective capital expenditure management and enhancing investor confidence in its financial health.
- Optimistic Future Outlook: The company forecasts a 39% sales growth in Q1 2026, aiming for annual sales of approximately $737 million, with management projecting a 29% growth in non-GAAP earnings, indicating sustained growth potential.
See More
Hinge Health Reports Strong Q4 Earnings, Exceeds Expectations
- Strong Performance: Hinge Health reported adjusted earnings per share of 49 cents for Q4, surpassing the expected 39 cents, with sales reaching $170.73 million, a 46% year-over-year increase, highlighting the company's robust position in pain management.
- Margin Improvement: The gross margin rose to 84% from 82% a year ago, while the adjusted gross margin reached 85%, indicating ongoing enhancements in cost management and profitability.
- Client and Member Growth: The number of clients increased by 25% year-over-year to 2,830, and membership grew by 47% to 782,890, reflecting significant market penetration and demand for services.
- Positive Outlook: Hinge Health expects Q1 2026 sales between $171 million and $173 million, exceeding the consensus of $160.28 million, demonstrating strong commercial momentum and sustained profitability.
See More
Hinge Health Reports Strong Q4 2025 Earnings with 46% Revenue Growth
- Significant Revenue Growth: Hinge Health reported $171 million in Q4 revenue, a 46% year-over-year increase, with full-year revenue reaching $588 million, reflecting a 51% growth compared to 2024, showcasing strong momentum in the digital health sector.
- Expanded Client Base: By the end of 2025, the company had over 2,800 clients covering nearly 25 million contracted lives, with 53% of clients from the Fortune 100, indicating a significant penetration among large enterprises.
- Effective AI Tools: The rollout of the AI assistant Robin resulted in a 28% reduction in care team time per asynchronous session, while achieving a 92% member satisfaction rating, which not only improved service efficiency but also enhanced customer loyalty.
- Optimistic Future Outlook: The CFO projected Q1 2026 revenue to be between $171 million and $173 million, representing a 39% year-over-year growth, with full-year revenue guidance of $732 million to $742 million, reflecting strong confidence in future growth.
See More
Analysis of After-Hours Trading Performance of Multiple Companies
- Robinhood Revenue Decline: Robinhood's Q4 revenue of $1.28 billion fell short of the $1.34 billion expected by analysts, with transaction revenue also missing at $776 million, leading to a 7% drop in stock price, reflecting market concerns over its profitability.
- Lyft's Poor Performance: Lyft's stock dropped 15%, as its Q4 bookings of $5.07 billion met expectations, but its first-quarter adjusted EBITDA guidance of $120 million to $140 million fell short of the $139.8 million consensus, indicating pressure on profitability.
- Mattel's Disappointing Guidance: Mattel's stock plummeted 25%, with full-year adjusted earnings guidance ranging from $1.18 to $1.30 per share, significantly below the $1.77 expected by the market, and Q4 results also missed expectations, highlighting weakness in the toy market.
- Cloudflare's Strong Outlook: Cloudflare's stock surged 10% after projecting Q1 revenue between $620 million and $621 million, exceeding the $614 million consensus, and its Q4 results also surpassed analyst expectations, showcasing strong growth potential in the cloud networking market.
See More
HINGE HEALTH REPORTS Q4 NON-GAAP DILUTED EARNINGS PER SHARE OF $0.49
- Financial Performance: Hinge Health reported a Q4 non-GAAP diluted net income per share of $0.49.
- Market Position: The company continues to strengthen its position in the digital health sector, focusing on innovative solutions for musculoskeletal care.
See More
