# Hinge Health, Inc. (HNGE)

> Source: Nexqual · https://nexqual.com/HNGE · data as of 2026-10-22 20:00 UTC · cite as "Nexqual, Hinge Health, Inc. (HNGE), nexqual.com/HNGE" · informational, not investment advice.

**Price:** USD 109.93 (-1.85% on the day) · last close of Oct 22, 2026; US market pre market, not a live price. Prev close 112 · day 108.5–113.48 · 52w 30.08–113.48 · market cap $8.87B · NYQ

## Key facts
- Last four reported quarters (through Jun 30, 2026): revenue $720M, net income $109M (15.1% margin), free cash flow $290M (SEC filings).
- Valuation: P/E 81.3x.
- 1 of 80 tracked superinvestors hold HNGE (13F, Q2 2026): 0 new, 1 added, 0 reduced, 0 unchanged.
- Analysts: Buy (mean 1.65 on a 1–5 scale) (17 analysts), mean target USD 112.13 (range 90–140).
- Total return with dividends: 1Y +121.9% vs S&P 500 +14.9%; 5Y +173.7% vs S&P 500 +80.3%.
- Next earnings: 2026-11-02, EPS estimate USD 0.6, revenue estimate $225M.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|
| Revenue | $293M | $390M | $588M | $720M |
| Gross profit | $194M | $300M | $468M | — |
| Operating income | -$131M | -$31.9M | -$546M | $93.7M |
| Net income | -$108M | -$11.9M | -$528M | $109M |
| EPS (diluted) | -$8.31 | -$0.88 | -$7.77 | — |
| Free cash flow | -$65.9M | $48.0M | $171M | $290M |
| Gross margin | 66.3% | 76.8% | 79.6% | — |
| Operating margin | -44.6% | -8.2% | -92.9% | 13.0% |
| Net margin | -36.9% | -3.1% | -89.9% | 15.1% |
| Revenue growth | — | +33.4% | +50.6% | — |
| Cash + short-term investments | $235M | $467M | $364M | — |
Fiscal years end Dec. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jun 30, 2026)
P/E 81.3x · P/S 12.3x · P/FCF 30.6x · P/B 25.8x · FCF yield 3.27% · Earnings yield 1.23%

## Superinvestors (SEC 13F-HR, Q2 2026)
1 of 80 tracked investors hold HNGE. Each row is the investor's latest 13F; change is vs their prior-quarter share count.
| Investor | Firm | % of portfolio | Value | Change |
|---|---|---|---|---|
| First Eagle Investment | First Eagle Investment Management | 0.06% | $35.7M | Added +27.7% |

## Analysts
Consensus Buy (mean 1.65 on a 1–5 scale), 17 analysts; mean target USD 112.13 (low 90, high 140).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-10-16 | Keybanc | Target raised | Overweight | $125 → $140 |
| 2026-10-12 | Barclays | Target raised | Overweight | $100 → $110 |
| 2026-09-30 | Needham | Target raised | Buy | $97 → $115 |
| 2026-09-22 | Baird | Target raised | Neutral | $85 → $90 |
| 2026-09-08 | Stifel | Target raised | Buy | $96 → $115 |
| 2026-08-11 | Truist Securities | Target raised | Buy | $85 → $112 |
| 2026-08-05 | RBC Capital | Target raised | Outperform | $75 → $110 |
| 2026-08-05 | Citizens | Target raised | Market Outperform | $96 → $107 |
| 2026-08-05 | Wells Fargo | Target raised | Overweight | $90 → $103 |
| 2026-08-05 | Evercore ISI Group | Target raised | Outperform | $100 → $105 |
| 2026-08-05 | Barclays | Target raised | Overweight | $97 → $100 |
| 2026-08-05 | Needham | Target raised | Buy | $76 → $97 |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-23) | 5Y (from 2025-05-19) |
|---|---|---|
| Total return | +121.9% | +173.7% |
| S&P 500 (SPY) | +14.9% | +80.3% |
| Per year | +122.5% | +102.4% |
| Volatility (annualized) | 53.4% | 62.7% |
| Max drawdown | -41.7% (Nov 2025→Feb 2026) | -47.2% (Aug 2025→Feb 2026) |

## Peers (Health Information Services)
HQY (HealthEquity, Inc.) USD 100.97 +3.16% · TEM (Tempus AI, Inc.) USD 63.81 -5.83% · BTSG (BrightSpring Health Services, I) USD 60.86 -2.41% · DOCS (Doximity, Inc.) USD 33.68 +0.30% · WAY (Waystar Holding Corp.) USD 28.98 +0.49% · HTFL (Heartflow, Inc.) USD 55.43 -0.70%

## More
Full page: https://nexqual.com/HNGE · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Company outlook (8-K filed 2026-08-04)

- "Financial Outlook: We are providing the following guidance for our third quarter 2026 and full year 2026: • Q3 2026: We expect revenue to be between $223 million and $225 million, reflecting year-over-year growth of 45% at the midpoint."
- "We expect non-GAAP income from operations to be between $61 million and $63 million, reflecting year-over-year growth of 104% and non-GAAP operating margin of 28% at the midpoint. • Full Year 2026: We are raising our revenue guidance to be between $856 million and $860 million, reflecting year-over-year growth of 46% at the midpoint."
- "We are raising our non-GAAP income from operations guidance to be between $236 million and $244 million, reflecting year-over-year growth of 101% and non-GAAP operating margin of 28% at the midpoint."

Analysts expect $224.8M for the current quarter, +0.3% vs the guidance midpoint $224.0M. Source: https://www.sec.gov/Archives/edgar/data/1673743/000162828026052558/hnge-q2202684xex991.htm

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-09-30) | $0.60 | $0.68 | -12.6% | $224.8M | 13 |
| Next quarter (ends 2026-12-31) | $0.66 | $0.80 | -17.7% | $239.6M | 13 |
| Current fiscal year (ends 2026-12-31) | $2.40 | $2.60 | -7.7% | $860.6M | 14 |
| Next fiscal year (ends 2027-12-31) | $3.06 | $3.40 | -10.1% | $1.09B | 13 |