GUILFORD, Conn., March 17, 2025 (GLOBE NEWSWIRE) -- Hyperfine, Inc. (Nasdaq: HYPR), the groundbreaking health technology company that has redefined brain imaging with the first FDA-cleared AI-powered portable magnetic resonance (MR) brain imaging system—the Swoop® system—today announced fourth quarter and full year 2024 financial results and provided a business update. “I am pleased with the many milestones we achieved in the fourth quarter of 2024. These set the stage well for us to execute on our expansio ...

Hyperfine, Inc. HYPR shares are surging on Monday.This medical device company company forged a major partnership with NVIDIA Corp NVDA to advance its portable brain imaging technology.By integrating NVIDIA’s AI knowledge and computing power with Hyperfine's Swoop system, the first FDA-approved AI-driven portable MRI, the collaboration seeks to make brain MRIs quicker, more intelligent, and more affordable worldwide, speeding up brain disease diagnosis.The Swoop system tackles a critical challenge in health ...

Financial Data and Key Metrics Changes - Revenue for Q3 2024 was $3.6 million, representing a 56% year-over-year growth [5][14] - Gross profit for Q3 2024 was $1.9 million, resulting in a record gross margin of 52% [14] - Year-to-date revenue reached $10.6 million, up 27% from the first nine months of 2023 [14] - Net loss for Q3 2024 was $10.3 million, improving from a net loss of $10.8 million in the same period last year [15] - Cash burn for Q3 2024 was $8.9 million, with $45.8 million in cash and cash equivalents as of September 30, 2024 [15] Business Line Data and Key Metrics Changes - Sales of Swoop portable imaging systems drove revenue performance, with healthy contributions from international markets [5] - The company placed 13 systems in the quarter, with a balanced distribution between US and international placements [18] Market Data and Key Metrics Changes - The total addressable market opportunity in the US is over $6 billion for placements in hospitals and office settings [5] - The company is expanding its distribution network in European markets and has obtained CE approval for its latest generation software [12] Company Strategy and Development Direction - The company plans to enhance its commercial capabilities and expand into new sites of care, including neurology offices [12] - Upcoming software releases aim to improve image quality and accelerate adoption of the Swoop system [7][12] - The company is focusing on clinical studies related to Alzheimer's and stroke, highlighting the workflow benefits of its technology [9][11] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the business, citing strong revenue growth and upcoming catalysts for 2025 [13][17] - The company anticipates a narrowing revenue outlook for 2024 to a range of $14 million to $14.5 million, representing approximately 30% year-over-year growth [16] Other Important Information - The company received FDA clearance for its ninth-generation AI-powered software, enhancing imaging capabilities [5][7] - The integration of AI techniques is central to improving image quality and diagnostic value [7] Q&A Session Summary Question: How many capital placements were made in the quarter? - The company placed 13 systems, with a strong balance between US and international placements [18] Question: Why is guidance at the midpoint implying flattish sequential sales in Q4? - The company does not rely on traditional capital budgets for system placements, which affects seasonality [20] Question: When do you expect all US systems to add the latest software upgrade? - The rollout is progressing well, with the majority of accounts expected to be completed by the end of the year [22] Question: Is there a perception difference between US and EU doctors regarding Alzheimer's treatment? - There are similarities in recognizing MRI monitoring as a bottleneck, but European regulators have been more conservative [25] Question: What are the differences in MRI demand and reimbursement between the EU and US? - MRI density and reimbursement vary by country, with the UK facing unique challenges in wait times [26]

Hyperfine, Inc. (HYPR) came out with a quarterly loss of $0.14 per share in line with the Zacks Consensus Estimate. This compares to loss of $0.15 per share a year ago. These figures are adjusted for non-recurring items.A quarter ago, it was expected that this company would post a loss of $0.14 per share when it actually produced a loss of $0.14, delivering no surprise.Over the last four quarters, the company has surpassed consensus EPS estimates just once.Hyperfine, which belongs to the Zacks Medical - Ins ...

Class A common stock, $0.0001 Par Value Per Share HYPR The Nasdaq Stock Market LLC UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 _________________ FORM 10-Q _________________ (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2024 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ___________to_________ | --- | --- ...

GUILFORD, Connecticut, Nov. 12, 2024 (GLOBE NEWSWIRE) -- Hyperfine, Inc. (Nasdaq: HYPR), the groundbreaking health technology company that has redefined brain imaging with the first FDA-cleared portable magnetic resonance (MR) brain imaging system—the Swoop® system—today announced third quarter 2024 financial results and provided a business update. “The Hyperfine team delivered yet another strong quarter of financial performance across revenue growth, gross margin expansion, and disciplined cash management ...

Hyperfine, Inc. (HYPR) recently announced a publication by investigators at Johns Hopkins Hospital and the University of Texas-Houston on using the Swoop system for patients on extracorporeal membrane oxygenation (ECMO) support. The study is titled "Clinical Use of Bedside Portable Ultra-Low-Field Brain Magnetic Resonance Imaging in Patients on Extracorporeal Membrane Oxygenation: Results From the Multicenter SAFE MRI ECMO Study." It was published in the September issue of Circulation. HYPR's Likely Stock T ...

Hyperfine, Inc. (HYPR) , a pioneer in health technology, recently announced promising interim data on the Swoop Portable magnetic resonance (MR) Imaging for acute stroke diagnosis. These findings, presented at the 2024 European Society of Neuroradiology (ESNR) Annual Meeting, underline how the portable ultra-low-field MRI could revolutionize stroke care, particularly in emergency department settings. HYPR's Likely Stock Trend Following the News Following the news, shares of HYPR rose 1.5% at yesterday's clo ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 _________________ Class A common stock, $0.0001 Par Value Per Share HYPR The Nasdaq Stock Market LLC FORM 10-Q _________________ (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2024 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ___________to_________ | --- | --- | --- ...

Hyperfine, Inc. (NASDAQ:HYPR) Q2 2024 Earnings Call August 8, 2024 4:30 PM ET Company Participants Marissa Bych - Investor Relations Maria Sainz - President and Chief Executive Officer Brett Hale - Chief Administrative Officer and Chief Financial Officer Conference Call Participants Yuan Zhi - B. Riley Operator Good afternoon, and welcome to Hyperfine’s Second Quarter 2024 Earnings Conference Call. [Operator Instructions] As a reminder, this call is being recorded for replay purposes. I would now like to tu ...