HNGE on NYSE
Hinge Health, Inc.
American computer processing and data preparation services company.
Price unavailable
Last updated Oct 18, 2026.
Overview
Compare with Sohu, Applied Digital Corp. or IBEX Ltd, or pick any stock.
Financials
From the company’s reports to the SEC. Every number links to the filing it came from.
Key numbers, fiscal 2025
79.6%Gross margin2
-92.9%Operating margin2
-89.9%Net margin2
50.6%Revenue growth, 20252
-295.7%Return on equity2
$170.7MFree cash flow2
Where the money goes
Where each dollar of revenue went, fiscal 2025
- Cost of revenue20¢$119.6M
- Research and development63¢$368.1M
- Other costs17¢$99.1M
- Income tax0¢$998.0K
Out of $587.9M in revenue.2 The company lost money this year.
Where each dollar of operating cash went, fiscal 2025
- Capital spending0¢$708.0K
- Share buybacks38¢$65.0M
- Kept or used elsewhere62¢$105.7M
Out of $171.4M of cash from operations.2
Financial statements
Every line of the income statement as filed: the last 3 fiscal years, latest first.2
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Revenue | $587.9M | $390.4M | $292.7M |
| Cost of revenue | $119.6M | $90.5M | $98.6M |
| Gross profit | $468.2M | $299.9M | $194.2M |
| Research and development | $368.1M | $100.8M | $110.1M |
| Sales and marketing | $317.0M | $167.1M | $147.6M |
| General and administrative | $329.5M | $63.9M | $67.0M |
| Total operating expenses | $1.0B | $331.8M | $324.7M |
| Loss from operations | -$546.4M | -$31.9M | -$130.5M |
| Other income, net | $19.1M | $20.7M | $22.0M |
| Net loss before income taxes | -$527.3M | -$11.3M | -$108.5M |
| Provision for (benefit from) income taxes | $998.0K | $677.0K | -$405.0K |
| Net loss | -$528.3M | -$11.9M | -$108.1M |
| Adjustment to reflect deemed contribution from Series D and Series E redeemable convertible preferred stock extinguishment | $104.2M | $0 | $0 |
| Net loss attributable to common stockholders | -$424.1M | -$11.9M | -$108.1M |
| Net income (loss) per share attributable to common stockholders, basic (in usd per share) | -$7.77 | -$0.88 | -$8.31 |
| Net income (loss) per share attributable to common stockholders, diluted (in usd per share) | -$7.77 | -$0.88 | -$8.31 |
| Weighted average shares attributable to common stockholders, basic (in shares) | 54.6M shares | 13.6M shares | 13.0M shares |
| Weighted average shares attributable to common stockholders, diluted (in shares) | 54.6M shares | 13.6M shares | 13.0M shares |
| Unrealized gain (loss) on marketable securities, net of taxes | -$88.0K | $8.0K | $135.0K |
| Comprehensive loss | -$528.3M | -$11.9M | -$108.0M |
No quarter-by-quarter statement was filed.
Every line of the balance sheet as filed: the last 4 fiscal years (annual) or 4 quarters (quarterly), latest first.2
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 |
|---|---|---|---|---|
| Cash and cash equivalents | $208.0M | $300.8M | $235.0M | |
| Short-term marketable securities | $155.9M | $165.8M | ||
| Accounts receivable, net of allowance for credit losses of $6,092 and $6,470 as of December 31, 2025 and 2024, respectively | $66.1M | $42.5M | ||
| Deferred commissions | $31.3M | $18.6M | ||
| Inventory | $15.6M | $10.9M | ||
| Prepaid expenses and other current assets | $57.0M | $44.9M | ||
| Total current assets | $533.9M | $583.4M | ||
| Long-term marketable securities | $113.2M | $0 | ||
| Goodwill | $64.1M | $61.6M | ||
| Intangible assets, net | $2.5M | $1.8M | ||
| Property, equipment and software, net | $10.5M | $7.4M | ||
| Operating lease right-of-use assets | $6.9M | $9.6M | ||
| Other assets | $13.7M | $9.4M | ||
| Total assets | $744.8M | $673.3M | ||
| Accounts payable and accrued liabilities | $57.3M | $27.9M | ||
| Operating lease liabilities | $4.2M | $3.8M | ||
| Deferred revenue | $300.9M | $217.6M | ||
| Total current liabilities | $362.4M | $249.3M | ||
| Operating lease liabilities, noncurrent | $3.8M | $7.3M | ||
| Total liabilities | $366.2M | $256.6M | ||
| Redeemable convertible preferred stock, $0.00001 par value; 4,330,341 shares of Series E authorized, 2,581,837 shares of Series E preferred stock issued and outstanding as of December 31, 2025, 48,190,771 shares authorized and 48,150,146 shares issued and outstanding as of December 31, 2024; aggregate liquidation preference of $200,000 and $845,478 as of December 31, 2025 and 2024, respectively | $199.9M | $851.3M | $851.3M | $851.3M |
| Common stock, value | $0 | |||
| Additional paid-in capital | $1.2B | $88.1M | ||
| Accumulated other comprehensive gain (loss) | -$20.0K | $68.0K | ||
| Accumulated deficit | -$1.1B | -$522.7M | ||
| Total stockholders equity (deficit) | $178.7M | -$434.6M | -$424.0M | -$318.1M |
| Total liabilities, redeemable convertible preferred stock and stockholders equity (deficit) | $744.8M | $673.3M | ||
| Allowance for credit losses on accounts receivable | $6.1M | $6.5M | $3.4M | $983.0K |
| Temporary equity, shares authorized (in shares) | 48.2M shares | |||
| Temporary equity, shares issued (in shares) | 48.2M shares | |||
| Temporary equity, shares outstanding (in shares) | 2.6M shares | 48.2M shares | 48.2M shares | 48.2M shares |
| Liquidation Preference | $845.5M | |||
| Common stock, par value (in usd per share) | $0.00 | $0.00 | ||
| Common stock, shares authorized (in shares) | 0 shares | 98.1M shares | ||
| Common stock, shares issued (in shares) | 0 shares | 16.4M shares | ||
| Common stock, shares outstanding (in shares) | 0 shares | 16.4M shares |
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 |
|---|---|---|---|---|
| Cash and cash equivalents | $208.0M | $300.8M | $235.0M | |
| Short-term marketable securities | $155.9M | $165.8M | ||
| Accounts receivable, net of allowance for credit losses of $6,092 and $6,470 as of December 31, 2025 and 2024, respectively | $66.1M | $42.5M | ||
| Deferred commissions | $31.3M | $18.6M | ||
| Inventory | $15.6M | $10.9M | ||
| Prepaid expenses and other current assets | $57.0M | $44.9M | ||
| Total current assets | $533.9M | $583.4M | ||
| Long-term marketable securities | $113.2M | $0 | ||
| Goodwill | $64.1M | $61.6M | ||
| Intangible assets, net | $2.5M | $1.8M | ||
| Property, equipment and software, net | $10.5M | $7.4M | ||
| Operating lease right-of-use assets | $6.9M | $9.6M | ||
| Other assets | $13.7M | $9.4M | ||
| Total assets | $744.8M | $673.3M | ||
| Accounts payable and accrued liabilities | $57.3M | $27.9M | ||
| Operating lease liabilities | $4.2M | $3.8M | ||
| Deferred revenue | $300.9M | $217.6M | ||
| Total current liabilities | $362.4M | $249.3M | ||
| Operating lease liabilities, noncurrent | $3.8M | $7.3M | ||
| Total liabilities | $366.2M | $256.6M | ||
| Redeemable convertible preferred stock, $0.00001 par value; 4,330,341 shares of Series E authorized, 2,581,837 shares of Series E preferred stock issued and outstanding as of December 31, 2025, 48,190,771 shares authorized and 48,150,146 shares issued and outstanding as of December 31, 2024; aggregate liquidation preference of $200,000 and $845,478 as of December 31, 2025 and 2024, respectively | $199.9M | $851.3M | $851.3M | $851.3M |
| Common stock, value | $0 | |||
| Additional paid-in capital | $1.2B | $88.1M | ||
| Accumulated other comprehensive gain (loss) | -$20.0K | $68.0K | ||
| Accumulated deficit | -$1.1B | -$522.7M | ||
| Total stockholders equity (deficit) | $178.7M | -$434.6M | -$424.0M | -$318.1M |
| Total liabilities, redeemable convertible preferred stock and stockholders equity (deficit) | $744.8M | $673.3M | ||
| Allowance for credit losses on accounts receivable | $6.1M | $6.5M | $3.4M | $983.0K |
| Temporary equity, shares authorized (in shares) | 48.2M shares | |||
| Temporary equity, shares issued (in shares) | 48.2M shares | |||
| Temporary equity, shares outstanding (in shares) | 2.6M shares | 48.2M shares | 48.2M shares | 48.2M shares |
| Liquidation Preference | $845.5M | |||
| Common stock, par value (in usd per share) | $0.00 | $0.00 | ||
| Common stock, shares authorized (in shares) | 0 shares | 98.1M shares | ||
| Common stock, shares issued (in shares) | 0 shares | 16.4M shares | ||
| Common stock, shares outstanding (in shares) | 0 shares | 16.4M shares |
Cash flow is reported year to date, not quarter by quarter, so there are no separate quarterly figures.
Every line of the cash flow as filed: the last 3 fiscal years, latest first.2
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Net loss | -$528.3M | -$11.9M | -$108.1M |
| Depreciation and amortization | $5.1M | $6.0M | $5.6M |
| Stock-based compensation | $643.0M | $739.0K | $1.6M |
| Amortization of deferred commissions | $46.7M | $29.9M | $20.3M |
| Accretion of discounts and amortization of premiums on marketable securities, net | $361.0K | $537.0K | -$10.8M |
| Excess and obsolete inventory charge | $0 | $1.8M | $10.3M |
| Non-cash operating lease expense | $3.4M | $3.6M | $3.3M |
| Provision for credit losses | $3.1M | $5.4M | $4.9M |
| Deferred income taxes | $53.0K | -$585.0K | -$473.0K |
| Other | $1.0K | $7.0K | $65.0K |
| Accounts receivable | -$26.6M | -$1.3M | -$23.1M |
| Deferred commissions | -$63.6M | -$38.5M | -$27.8M |
| Inventory | -$4.8M | $608.0K | $10.6M |
| Prepaid expenses and other current assets | -$15.8M | -$9.2M | $5.7M |
| Other assets | -$181.0K | $377.0K | $677.0K |
| Accounts payable and accrued liabilities | $29.4M | -$11.0M | $11.6M |
| Operating lease liabilities | -$3.7M | -$4.7M | -$4.1M |
| Deferred revenue | $83.2M | $77.2M | $36.0M |
| Net cash provided by (used in) operating activities | $171.4M | $49.0M | -$63.9M |
| Purchase of property and equipment | -$708.0K | -$1.0M | -$2.0M |
| Capitalized internal use software | -$5.4M | -$2.7M | -$2.6M |
| Purchases of marketable securities | -$472.3M | -$324.5M | -$453.3M |
| Maturities of marketable securities | $368.6M | $346.6M | $459.5M |
| Acquisition of a business | -$4.0M | $0 | $0 |
| Net cash (used in) provided by investing activities | -$113.8M | $18.3M | $1.5M |
| Proceeds from exercise of common stock options | $1.4M | $610.0K | $492.0K |
| Issuance of common stock in connection with the employee stock purchase plan | $8.1M | $0 | $0 |
| Proceeds from issuance of common stock in initial public offering, net of issuance costs | $255.7M | $0 | $0 |
| Tax withholdings on settlement of restricted stock units and performance-based restricted stock units | -$295.2M | $0 | $0 |
| Payment on Repurchase Agreement with Coatue | -$50.0M | $0 | $0 |
| Proceeds from repayment of non-recourse loans to employees | $4.9M | $0 | $0 |
| Repurchase and retirement of common stock | -$65.0M | $0 | $0 |
| Cash paid on settlement of acquisition related holdback | $0 | $0 | -$2.8M |
| Payments for deferred offering costs | -$10.3M | -$2.8M | -$645.0K |
| Net cash used in financing activities | -$150.5M | -$2.2M | -$3.0M |
| Net increase (decrease) in cash | -$92.8M | $65.1M | -$65.4M |
| Cash paid for income taxes | $1.6M | $0 | $0 |
| Property and equipment purchased and unpaid at end of year | $0 | $0 | $36.0K |
| Stock-based compensation capitalized in internal-use software | $1.3M | $0 | $0 |
| Unpaid deferred offering costs at year end | $20.0K | $210.0K | $389.0K |
| Right-of-use assets obtained in exchange for lease obligations | $686.0K | $0 | $1.0M |
| Conversion of redeemable convertible preferred stock for Coatue in connection with initial public offering | $150.7M | $0 | $0 |
| Conversion of redeemable convertible preferred stock for all other in connection with initial public offering | $346.5M | $0 | $0 |
| Adjustment to reflect deemed contribution from Series D and Series E redeemable convertible preferred stock extinguishment | $104.2M | $0 | $0 |
No quarter-by-quarter statement was filed.
Leadership
Who has led Hinge Health, Inc., and when. Pick a name to see everywhere that person has worked.
Chief executive
President
Chief financial officer
- Chief executive officerDaniel Antonio Perez May 21, 2025 to now8
- PresidentJames Pursley May 21, 2025 to now9
- Chief financial officerJames Budge May 21, 2025 to now10
Board members and other officers (6)
- Board memberTyler Sloat Mar 18, 2026 to now11
- Board memberDaniel Antonio Perez May 21, 2025 to now8
- Board memberElliott Robinson May 21, 2025 to now12
- Board memberGabriel M.i. Mecklenburg May 21, 2025 to now13
- Board memberKristina M. Leslie May 21, 2025 to now14
- Board memberTeddie Benjamin Wardi May 21, 2025 to now15
Timeline
- May 21, 2025New chief executive Daniel Antonio Perez becomes CEO8
Filings
281 filings to the SEC since October 2021: 1 annual reports, 4 quarterly reports, 12 major events, 122 insider forms, 28 large holders, 2 private raises, 112 other. The latest 20:
- Oct 14, 2026144 EDGAR
- Oct 14, 2026144 EDGAR
- Oct 14, 2026144 EDGAR
- Oct 14, 2026144 EDGAR
- Oct 13, 20264 EDGAR
- Oct 13, 2026144 EDGAR
- Oct 13, 2026144 EDGAR
- Oct 13, 20264 EDGAR
- Oct 7, 20264 EDGAR
- Oct 6, 2026144 EDGAR
- Oct 6, 20264 EDGAR
- Oct 1, 20264 EDGAR
- Oct 1, 20264 EDGAR
- Sep 30, 2026144 EDGAR
- Sep 30, 2026144 EDGAR
- Sep 30, 2026144 EDGAR
- Sep 30, 2026144 EDGAR
- Sep 23, 20264 EDGAR
- Sep 21, 2026144 EDGAR
- Sep 16, 20264 EDGAR
The 281 filings since October 2021 can be filtered by form type and year here when JavaScript is on.
Every filing from the last three years, summarized. The full record is on SEC EDGAR.
Insider trades and holders
Large holders
Investors who own more than 5% must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively. 28 such filings since October 2021, the latest 10:
- Aug 14, 2026SCHEDULE 13G/A
- Aug 14, 2026SCHEDULE 13G/A
- Aug 13, 2026SCHEDULE 13G/A
- Jul 28, 2026SCHEDULE 13G
- Jun 8, 2026SCHEDULE 13G/A
- Apr 27, 2026SCHEDULE 13G
- Mar 27, 2026SCHEDULE 13G/A
- Mar 9, 2026SCHEDULE 13G/A
- Feb 17, 2026SCHEDULE 13G/A
- Feb 17, 2026SCHEDULE 13G/A
From Forms 4 and Schedules 13D and 13G filed with the SEC.
Money raised
Private offerings the company reported to the SEC on Form D.
Held by these funds
The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.
| Fund | Shares | Value | Share of the fund | Change |
|---|---|---|---|---|
| BlackRock, Inc. | 3,570,131 | $296.3M | 0.0% | +2,662,626 |
| 11.2 Capital Management, LLC | 2,464,657 | $204.6M | 100.0% | −1,239,867 |
| Vanguard Portfolio Management LLC | 2,146,032 | $178.1M | 0.0% | +735,345 |
| Deer Management Co. LLC | 1,908,707 | $158.4M | 19.5% | −725,000 |
| Vanguard Capital Management LLC | 1,892,834 | $157.1M | 0.0% | +654,261 |
| Two Sigma Investments, LP | 1,807,895 | $150.1M | 0.1% | +1,424,016 |
| Fuller & Thaler Asset Management, Inc. | 1,712,507 | $142.1M | 0.4% | +57,309 |
| Morgan Stanley | 1,613,901 | $134.0M | 0.0% | +624,312 |
| Franklin Resources Inc | 1,579,056 | $131.1M | 0.0% | +620,523 |
| Jane Street Group, LLC | 1,418,317 | $117.7M | 0.1% | +861,186 |
| Braidwell LP | 1,330,127 | $110.4M | 4.2% | −124,996 |
| Divisadero Street Capital Management, LP | 1,290,623 | $107.1M | 2.5% | +719,964 |
| Walleye Capital LLC | 1,267,650 | $105.2M | 0.5% | +1,160,801 |
| Wellington Management Group Llp | 1,205,584 | $100.1M | 0.0% | +758,594 |
| BIT Capital GmbH | 1,155,203 | $95.9M | 3.3% | −1,154,594 |
| Arrowstreet Capital, Limited Partnership | 1,118,968 | $92.9M | 0.0% | −44,219 |
| Bamco Inc /ny/ | 1,117,678 | $92.8M | 0.1% | −12,375 |
| Marshall Wace, Llp | 1,052,232 | $87.3M | 0.1% | +761,807 |
| Goldman Sachs Group Inc | 1,011,256 | $83.9M | 0.0% | +722,231 |
| State Street Corp | 960,648 | $79.7M | 0.0% | +825,248 |
| Geode Capital Management, LLC | 913,590 | $75.8M | 0.0% | +732,797 |
| First Eagle Investment Management, LLC | 860,284 | $71.4M | 0.1% | +523,342 |
| Oberweis Asset Management Inc/ | 855,476 | $71.0M | 1.5% | +389,710 |
| Bnp Paribas Financial Markets | 851,116 | $70.6M | 0.0% | +349,069 |
| Voya Investment Management LLC | 778,168 | $64.6M | 0.1% | New |
13F reports cover disclosed long positions in U.S. stocks only.
Sources
The numbers on this page point here. Each one links to the record it came from.
- 1
- 2
- 3
- 4
- 5
- 6
- 7
- 8
- 9SEC EDGARJames Pursley, President
- 10SEC EDGARJames Budge, Chief financial officer
- 11SEC EDGARTyler Sloat, Board member
- 12SEC EDGARElliott Robinson, Board member
- 13
- 14SEC EDGARKristina M. Leslie, Board member
- 15SEC EDGARTeddie Benjamin Wardi, Board member