Hyperfine, Inc. reported a total revenue of $3.4 million for the third quarter of 2025, a decrease of 5.7% compared to $3.6 million in the same period of 2024. For the nine months ending September 30, 2025, revenue was $8.3 million, down 21.8% from $10.6 million in the prior year. The decline in revenue was primarily attributed to a decrease in the number of Swoop® system units sold, which fell from 13 units in Q3 2024 to 8 units in Q3 2025, and from 39 units in the first nine months of 2024 to 22 units in 2025. Despite the drop in unit sales, the average selling price of the devices increased, partially offsetting the revenue decline.
The company's net loss for the third quarter of 2025 was $11.0 million, compared to a loss of $10.3 million in the same quarter of 2024. For the nine-month period, the net loss was $29.7 million, slightly improved from a loss of $30.3 million in the previous year. Operating expenses decreased by 16.3% in Q3 2025, totaling $10.8 million, down from $12.9 million in Q3 2024, driven by reductions in research and development costs and general administrative expenses. The company reported a gross margin of $1.8 million for the third quarter, reflecting a gross margin percentage of 53.8%, compared to 52.4% in the prior year.
In terms of strategic developments, Hyperfine received FDA clearance for its next-generation Swoop® system powered by Optive AI™ software in May 2025, which is expected to enhance imaging capabilities and reduce scan times. The company has also expanded its international presence, obtaining marketing authorizations in several countries, including Canada, the European Union, and Australia. As of September 30, 2025, Hyperfine had cash and cash equivalents of $21.6 million, down from $37.6 million at the end of 2024, reflecting ongoing investments in product development and commercialization efforts.
Operationally, Hyperfine's customer base remains concentrated, with four customers accounting for significant portions of revenue in the latest quarter. The company continues to focus on expanding its market share in both domestic and international markets, leveraging its innovative technology to address unmet healthcare needs. The company anticipates that its ongoing product enhancements and strategic partnerships will drive future growth, although it acknowledges the challenges posed by market conditions and competition.
Looking ahead, Hyperfine expects to continue incurring losses as it invests in research and development and expands its sales and marketing efforts. The company has filed a shelf registration statement to raise additional capital, which it may utilize to support its operations and growth initiatives. Management remains optimistic about the long-term potential of the Swoop® system and its ability to transform brain imaging in various healthcare settings.
About Hyperfine, Inc.
Hyperfine, Inc. develops portable, AI-powered ultra-low-field MRI systems for brain imaging. Its flagship Swoop® system offers diagnostic-quality images at a lower cost and with greater accessibility, enabling bedside scans in diverse healthcare settings worldwide. Focused on expanding access to MRI, the company serves hospitals, clinics, and emergency departments, improving early diagnosis, patient safety, and workflow efficiency through innovative, user-friendly technology.
About 10-Q Filings
A 10-Q form is an important financial report that public companies in the United States must submit every three months. It gives a clear picture of a company's financial health and recent performance.
Key points about the 10-Q:
- Frequency: Companies file it three times a year, covering the first three quarters. The fourth quarter is covered in a more comprehensive annual report.
-
Content: It includes:
- Financial statements showing the company's current financial position
- Updates from management on the performance and projections of the business
- Information about potential risks the company faces
- Details on how the company is run internally
- Deadline: Must be filed within 40 or 45 days after the quarter ends, depending on the size of the company.
Our Methodology
AssetRoom is committed to providing timely summaries of news from public companies. We use AI to generate these summaries quickly, but they are not reviewed by human experts.
Our method:
- Data Collection: We continuously monitor for new filings (currently limited to US-listed stocks).
- AI-Powered Analysis: Our advanced AI system processes each filing, identifying key information and extracting relevant data.
- Summary Generation: The AI creates a concise, easy-to-understand summary of the filing, highlighting the most important points.
- Publication: The summary is immediately published on our platform, allowing users instant access to the latest information.
- Email users: We distribute round-up emails according to our users preferences, keeping them in the loop with the companies they follow.
Feedback & Corrections
Spot an error or have a suggestion? Contact us.