Hyperfine, Inc. reported a decline in financial performance for the second quarter of 2025, with total revenues of $2.7 million, down 25.8% from $3.6 million in the same period last year. For the first half of 2025, revenues totaled $4.8 million, a decrease of 30.2% compared to $6.9 million in the first half of 2024. The decline was primarily attributed to a reduction in the number of Swoop® system units sold, which fell from 13 units in Q2 2024 to 8 units in Q2 2025, although this was partially offset by an increase in the average selling price of the devices. The company reported a net loss of $9.2 million for the quarter, a slight improvement from a loss of $10.2 million in Q2 2024.
In terms of operational metrics, Hyperfine's total sales for the six months ended June 30, 2025, were $4.8 million, down from $6.9 million in the prior year. The cost of sales also decreased, reflecting a reduction in both device and service costs, which contributed to a gross margin of $1.3 million for the quarter. Operating expenses were reduced to $10.9 million from $12.6 million in Q2 2024, driven by lower research and development costs, which fell by 23.8% year-over-year. The company’s accumulated deficit increased to $313.1 million as of June 30, 2025.
Strategically, Hyperfine has made significant advancements in its product offerings, receiving FDA clearance for its next-generation Swoop® system powered by Optive AI™ software in May 2025. This new software is designed to enhance image quality and reduce scan times, which the company believes will improve adoption rates among healthcare providers. The Swoop® system has also received marketing authorization in several international markets, including Canada and the European Union, which is expected to support future revenue growth.
The company’s cash position as of June 30, 2025, was $25.4 million, down from $37.6 million at the end of 2024. Hyperfine has indicated that it expects to continue incurring significant cash burn as it invests in research and development and expands its commercialization efforts. The company has filed a shelf registration statement to raise up to $150 million, which it may utilize to support its operations and growth initiatives. Looking ahead, Hyperfine aims to broaden its market presence both domestically and internationally, focusing on increasing the adoption of its Swoop® system in various healthcare settings.
About Hyperfine, Inc.
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