Hinge Health (HNGE)

Market Price (8/28/2026): $92.13 | Market Cap: $7.3 BilSector: Health Care | Industry: Health Care Technology

Hinge Health (HNGE)

Market Price (8/28/2026): $92.13
Market Cap: $7.3 Bil
Sector: Health Care
Industry: Health Care Technology

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

Strong revenue growth
Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is 50%

Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 40%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 39%

Megatrend and thematic drivers
Megatrends include Digital Health & Telemedicine. Themes include Telehealth Platforms, Remote Patient Monitoring, and Wearable Health Devices.

Trading close to highs
Dist 52W High is 0.0%, Dist 3Y High is 0.0%

Expensive valuation multiples
P/EBITPrice/EBIT or Price/(Operating Income) ratio is 78x, P/CFOPrice/(Cash Flow from Operations). CFO is cash before capital expenditures. is 25x, P/EPrice/Earnings or Price/(Net Income) is 67x

Stock price has recently run up significantly
6M Rtn6 month market price return is 113%

Significant share based compensation
SBC/Rev LTMShare Based Compensation / Revenue (Sales), Last Twelve Months (LTM) is 11%

Valuation getting more expensive
P/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is 117%

Yield minus risk free rate is negative
ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -2.9%

Key risks
HNGE key risks include [1] intense competition and market commoditization threatening its premium pricing position and technological advantages, Show more.

0	Strong revenue growth Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is 50%
1	Attractive cash flow generation CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 40%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 39%
2	Megatrend and thematic drivers Megatrends include Digital Health & Telemedicine. Themes include Telehealth Platforms, Remote Patient Monitoring, and Wearable Health Devices.
3	Trading close to highs Dist 52W High is 0.0%, Dist 3Y High is 0.0%
4	Expensive valuation multiples P/EBITPrice/EBIT or Price/(Operating Income) ratio is 78x, P/CFOPrice/(Cash Flow from Operations). CFO is cash before capital expenditures. is 25x, P/EPrice/Earnings or Price/(Net Income) is 67x
5	Stock price has recently run up significantly 6M Rtn6 month market price return is 113%
6	Significant share based compensation SBC/Rev LTMShare Based Compensation / Revenue (Sales), Last Twelve Months (LTM) is 11%
7	Valuation getting more expensive P/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is 117%
8	Yield minus risk free rate is negative ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -2.9%
9	Key risks HNGE key risks include [1] intense competition and market commoditization threatening its premium pricing position and technological advantages, Show more.

HNGE in ETFs

Weight = HNGE's share of each fund

VTI0.00%

ITOT0.00%

IWM0.11%

VB0.04%

IHF0.42%

NUSC0.26%

IWO0.22%

VTWO0.10%

+6 more covered ETFs

Valuation & Metrics

FYE: 12/31	Forward FYE		Now	Historical (CYE & TTM)
	2027	2026	8/28/26	2025	2024	2023
Share Price			$92.13	$46.45	�	�
Mkt Cap ($ Bil)			7.3	3.7	-	-
+ Debt ($ Bil)			0.0	0.0	0.0	0.0
- Cash ($ Bil)			0.4	0.4	0.5	0.4
TEV ($ Bil)			6.9	3.7
Valuation Ratios
P/S	6.7	8.5	10.1	6.3	-	-
P/EBIT	—	—	77.7	-6.8	-	-
P/E	26.7	38.2	66.7	-7.0	-	-
P/FCF	—	—	25.6	22.4	-	-
Sector Ratios (* = sector average)
P/S *			4.3	4.1	3.9	4.2
P/EBIT *			-2.1	-1.7	-1.5	-1.5
P/E *			-2.0	-1.8	-1.6	-1.7
P/FCF *			-2.1	-1.8	-1.5	-1.6

FYE: 12/31	Forward FYE		Now
	2027	2026	8/28/26
Share Price			$92.13
Mkt Cap ($ Bil)			7.3
+ Debt ($ Bil)			0.0
- Cash ($ Bil)			0.4
TEV ($ Bil)			6.9
Valuation Ratios
P/S	6.7	8.5	10.1
P/EBIT	—	—	77.7
P/E	26.7	38.2	66.7
P/FCF	—	—	25.6
Sector Ratios (* = sector average)
P/S *			4.3
P/EBIT *			-2.1
P/E *			-2.0
P/FCF *			-2.1

FYE: 12/31	HNGE [1]	S&P 500 [2]
REVENUE GROWTH
LTM Revenue [3]	$720.1 Mil	—
FY 2026 Sales	$859.3 Mil	—
FY 2027 Sales	$1.1 Bil	—
FY 2026 Sales Growth	19.3%	—
FY 2027 Sales Growth	26.5%	12.7%
EARNINGS
LTM Net Income (GAAP) [3]	$109.1 Mil	—
FY 2026 Net Income (Non-GAAP)	$190.6 Mil	—
FY 2027 Net Income (Non-GAAP)	$272.9 Mil	—
FY 2027 Net Income Growth	43.2%	18.7%
FY 2026 EPS (Non-GAAP)	$2.35	—
FY 2027 EPS (Non-GAAP)	$3.13	—
FY 2027 EPS Growth	33.1%	—
VALUATION
FY 2026 P/S	8.5	1.8
FY 2027 P/S	6.7	—
FY 2026 P/E	38.2	8.4
FY 2027 P/E	26.7	—

[1] HNGE forward figures are analyst consensus for the next two fiscal years (fiscal year end 12/31). Net Income and EPS are non-GAAP (adjusted) consensus. P/S and P/E divide the current market cap by the consensus figure.
[2] S&P 500 figures are the SPY ETF's holdings-weighted forward aggregate. P/S and P/E reflect FY1/FY2 consensus blended to the 12-month window ending 8/31/27 (~one year forward), shown when ≥90% of index weight has estimates. Growth is the aggregate next-fiscal-year vs current-fiscal-year (FY1→FY2) change. Index-level dollar Sales, Net Income and EPS are not applicable.
[3] LTM = reported trailing-twelve-month actuals (GAAP).

	HNGE	S&P 500
REVENUE GROWTH	VERY GOOD
Rev LTM ($ Bil)	0.7
Rev Chg Q	53.0%	9.3%
Rev Chg LTM	49.8%	8.3%
Rev Chg 3Y Avg	46.6%	5.9%
PROFITABILITY	GOOD
Op Inc LTM ($ Bil)	0.1
CFO LTM ($ Bil)	0.3
Net Inc LTM ($ Bil)	0.1
Op Mgn LTM	13.0%	18.5%
CFO/Rev LTM	40.4%	21.8%
Net Inc Mgn	15.1%	13.2%
VALUATION	VERY HIGH
P/S	10.1	3.3
P/CFO	25.0	15.5
P/FCF	25.6	20.3
P/E	66.7	23.3
STABILITY	VERY GOOD
Debt/Equity	0.00	0.19
Cash/Assets	0.47	0.06

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Metric	Value	Date	Source
Number of Clients	2560	9302025	Link
Lifetime Members	surpassed 1.5 million	11042025	Link
LTM Calculated Billings	624.2 million USD	9302025	Link
Client Retention Rate	98%	12312024	Link
Net Dollar Retention	117%	12312024	Link
Fortune 100 Clients	49% of Fortune 100	12312024	Link
Fortune 500 Clients	42% of Fortune 500	12312024	Link
Number of Members	532000	12312024	Link
Contracted Lives	20 million	12312024	Link
Health plan and PBM partners	50+	10232025	Link

Price Chart

No Events

Why The Stock Moved

Qualitative Assessment

AI Analysis | Feedback

Updated on 8/27/2026

Hinge Health (HNGE) stock has gained about 110% since 4/30/2026 because of the following key factors:

1. Exceptional Fiscal Q2 2026 Financial Performance and Upbeat Full-Year Guidance.

Hinge Health reported robust fiscal Q2 2026 results (ended June 30, 2026), with revenue surging 53% year-over-year to $213 million, surpassing expectations. Non-GAAP income from operations also saw a significant increase of 136% to $61.5 million in fiscal Q2 2026. The company further fueled investor confidence by raising its full-year fiscal 2026 revenue guidance to a midpoint of $858 million, reflecting 46% year-over-year growth, up from previous expectations.

2. Strategic Expansion into Gastrointestinal (GI) Care via Acquisition.

Hinge Health diversified its offerings by signing a definitive agreement to acquire Cylinder Health for $105 million in cash. This strategic move expanded Hinge Health's multi-condition platform beyond musculoskeletal care, adding nearly 100 new clients and 2 million covered lives in the rapidly growing GI health market, indicating future growth opportunities.

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Stock Movement Drivers

Fundamental Drivers

The 108.2% change in HNGE stock from 4/30/2026 to 8/27/2026 was primarily driven by a 68.2% change in the company's P/S Multiple.

(LTM values as of)	4302026	8272026	Change
Stock Price ($)	44.60	92.85	108.2%
Change Contribution By:
Total Revenues ($ Mil)	588	720	22.5%
P/S Multiple	6.1	10.2	68.2%
Shares Outstanding (Mil)	80	79	1.0%
Cumulative Contribution			108.2%

LTM = Last Twelve Months as of date shown

Market Drivers

4/30/2026 to 8/27/2026

	Return	Correlation
HNGE	108.2%
Market (SPY)	7.3%	27.6%
Sector (XLV)	17.5%	15.7%

Fundamental Drivers

The 166.0% change in HNGE stock from 1/31/2026 to 8/27/2026 was primarily driven by a 103.0% change in the company's Total Revenues ($ Mil).

(LTM values as of)	1312026	8272026	Change
Stock Price ($)	34.90	92.85	166.0%
Change Contribution By:
Total Revenues ($ Mil)	355	720	103.0%
P/S Multiple	6.7	10.2	51.0%
Shares Outstanding (Mil)	69	79	-13.2%
Cumulative Contribution			166.0%

LTM = Last Twelve Months as of date shown

Market Drivers

1/31/2026 to 8/27/2026

	Return	Correlation
HNGE	166.0%
Market (SPY)	11.7%	28.6%
Sector (XLV)	11.3%	12.9%

Fundamental Drivers

The 106.6% change in HNGE stock from 7/31/2025 to 8/27/2026 was primarily driven by a 0.0% change in the company's P/E Multiple.

(LTM values as of)	7312025	8272026	Change
Stock Price ($)	44.95	92.85	106.6%
Change Contribution By:
Total Revenues ($ Mil)	�	720	0.0%
Net Income Margin (%)	�	15.1%	0.0%
P/E Multiple	�	67.2	0.0%
Shares Outstanding (Mil)	69	79	-13.2%
Cumulative Contribution			0.0%

LTM = Last Twelve Months as of date shown

Market Drivers

7/31/2025 to 8/27/2026

	Return	Correlation
HNGE	106.6%
Market (SPY)	23.0%	25.9%
Sector (XLV)	33.3%	7.3%

Fundamental Drivers

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Market Drivers

7/31/2023 to 8/27/2026

	Return	Correlation
HNGE
Market (SPY)	74.4%	25.6%
Sector (XLV)	33.9%	6.1%

Return vs. Risk

Price Returns Compared

	2021	2022	2023	2024	2025	2026	Total [1]
Returns
HNGE Return	-	-	-	-	24%	95%	141%
Peers Return	-46%	-65%	-39%	-63%	-28%	32%	-96%
S&P 500 Return	27%	-19%	24%	23%	16%	12%	104%
Monthly Win Rates [3]
HNGE Win Rate	-	-	-	-	50%	62%
Peers Win Rate	31%	25%	44%	33%	28%	50%
S&P 500 Win Rate	75%	42%	67%	75%	67%	50%
Max Drawdowns [4]
HNGE Max Drawdown	-	-	-	-	-	-37%
Peers Max Drawdown	-74%	-69%	-71%	-76%	-74%	-40%
S&P 500 Max Drawdown	-5%	-25%	-10%	-8%	-19%	-9%

[1] Cumulative total returns since the beginning of 2021
[2] Peers: TDOC, AMWL, DRIO.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 8/27/2026 (YTD)

HNGE has limited trading history. Below is the Health Care sector ETF (XLV) in its place.

Event	XLV	S&P 500
2025 US Tariff Shock
% Loss	-11.7%	-18.8%
% Gain to Breakeven	13.3%	23.1%
Time to Breakeven	142 days	79 days
2022 Inflation Shock & Fed Tightening
% Loss	-13.8%	-24.5%
% Gain to Breakeven	15.9%	32.4%
Time to Breakeven	166 days	427 days
2020 COVID-19 Crash
% Loss	-27.9%	-33.7%
% Gain to Breakeven	38.8%	50.9%
Time to Breakeven	77 days	140 days
Q4 2018 Fed Policy Error / Growth Scare
% Loss	-15.0%	-19.2%
% Gain to Breakeven	17.6%	23.8%
Time to Breakeven	191 days	105 days
2015-2016 China Devaluation / Global Growth Scare
% Loss	-15.9%	-12.2%
% Gain to Breakeven	18.9%	13.9%
Time to Breakeven	165 days	62 days
2011 US Debt Ceiling Crisis & European Contagion
% Loss	-15.8%	-17.9%
% Gain to Breakeven	18.8%	21.8%
Time to Breakeven	153 days	123 days

Compare to TDOC, AMWL, DRIO

In The Past

State Street Health Care Select Sector SPDR ETF's stock fell -11.7% during the 2025 US Tariff Shock. Such a loss loss requires a 13.3% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

HNGE has limited trading history. Below is the Health Care sector ETF (XLV) in its place.

Event	XLV	S&P 500
2020 COVID-19 Crash
% Loss	-27.9%	-33.7%
% Gain to Breakeven	38.8%	50.9%
Time to Breakeven	77 days	140 days
2008-2009 Global Financial Crisis
% Loss	-37.9%	-53.4%
% Gain to Breakeven	61.1%	114.4%
Time to Breakeven	767 days	1085 days

Compare to TDOC, AMWL, DRIO

In The Past

State Street Health Care Select Sector SPDR ETF's stock fell -11.7% during the 2025 US Tariff Shock. Such a loss loss requires a 13.3% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

About Hinge Health (HNGE)

Business Description Analogies Products Customers Suppliers Management Key Risks Emerging Threats Market Size Revenue Drivers Capital Allocation

Hinge Health (HNGE) is a digital health company focused on transforming musculoskeletal (MSK) care by leveraging technology to improve outcomes, experience, and costs. The company's vision is to build a new health system that scales and automates care for joint and muscle health, addressing everything from acute injury and chronic pain to post-surgical rehabilitation. By automating most aspects of care and developing novel billing methods, Hinge Health aims to overcome common healthcare challenges where new technologies often fail to lower costs or improve clinical outcomes effectively.

The core of Hinge Health's offering is a personalized, largely automated MSK care platform accessible through an on-demand app. Key technologies include their AI-powered motion tracking system, TrueMotion, and a proprietary FDA-cleared electrical nerve stimulation wearable device, Enso. This technology is supported by an AI-assisted care team comprising licensed physical therapists, physicians, and health coaches. The platform significantly reduces human care team hours—by approximately 95% compared to traditional physical therapy according to 2024 estimates—while delivering engaging, easy-to-use, and accessible exercise therapy that can improve pain and function and reduce the need for surgeries.

Hinge Health primarily serves self-insured employers, including a significant portion of Fortune 100 and Fortune 500 companies, as well as public sector entities and labor unions. The company employs an efficient go-to-market strategy, working directly with clients and partnering with major health plans, pharmacy benefit managers (PBMs), and third-party administrators (TPAs) to streamline adoption. With a recurring revenue business model based on average three-year contracts, Hinge Health boasts a high client retention rate of 98% and a net dollar retention of 117% as of December 31, 2024, demonstrating strong client satisfaction and growth potential within its vast addressable market.

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Livongo for musculoskeletal health

Peloton for medical physical therapy

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Digital Musculoskeletal (MSK) Care Service: A comprehensive, AI-powered virtual program that provides personalized and largely automated care for joint and muscle health, spanning prevention, acute injury, chronic pain, and post-surgical rehabilitation.
TrueMotion AI-powered Motion Tracking Technology: An integrated technology within their service that utilizes AI for real-time exercise feedback and tracks member progress, enabling scalable and personalized therapy.
Enso Electrical Nerve Stimulation Wearable Device: A proprietary, FDA-cleared wearable device seamlessly integrated into the service, delivering non-addictive and non-invasive pain relief via electrostimulation.

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Hinge Health (HNGE) primarily sells to other companies.

The company's major customers are:

Self-insured employers, including many of the nation’s leading enterprises across a broad range of industries and sizes. As of December 31, 2024, Hinge Health had active client agreements with 49% of the Fortune 100 companies and 42% of the Fortune 500 companies.
Public sector self-insured employers, such as state and local city governments and labor unions.

While Hinge Health partners with major national health plans and PBMs to facilitate access to clients, and is expanding to serve health plans' fully-insured and Medicare Advantage populations directly, its primary clients are explicitly stated as self-insured employers.

The provided text does not list specific names of the Fortune 100, Fortune 500, or other employer clients. Therefore, specific customer company names and their symbols cannot be provided.

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Daniel Perez, Co-Founder and Chief Executive Officer

Daniel Perez co-founded Hinge Health in 2014. He holds a B.S. in Biology from Westminster University and completed a DPhil (PhD) in Biochemistry from the University of Oxford. Prior to Hinge Health, he co-founded Marblar and the Oxbridge Biotech Roundtable. He was inspired to start Hinge Health with Gabriel Mecklenburg due to their personal experiences with musculoskeletal injuries.

James Budge, Chief Financial Officer

James Budge joined Hinge Health as Chief Financial Officer in March 2023. He brings 25 years of CFO experience across various public and private high-growth technology companies. His previous CFO roles include Automation Anywhere, Pluralsight, Anaplan, Genesys Cloud Services, and Rovi Corporation. Budge has a track record of raising capital, taking companies public, and overseeing numerous acquisitions. He holds a B.S. in Accounting from Brigham Young University. His career has involved accelerating growth for public and late-stage private companies.

Gabriel Mecklenburg, Co-Founder and Executive Chairman

Gabriel Mecklenburg is the Co-Founder and Executive Chairman of Hinge Health, having also served as Chief Operating Officer from October 2014 to February 2021. He co-founded Marblar and Oxbridge Biotech Roundtable Ltd. He holds an M.Sc. in Materials Science from the University of Cambridge and an M. Phil. in Bioengineering from Imperial College London.

Jim Pursley, President

Jim Pursley has served as President of Hinge Health since March 2021. Before joining Hinge Health, he was the Chief Commercial Officer of Livongo Health. He also held various executive positions at Care Innovations and GE HealthCare Technologies. He earned an M.B.A. from Kellogg School of Management at Northwestern University and a B.S. in Management Science and Information Systems from Pennsylvania State University.

Dr. Jeff Krauss, Chief Medical Officer

Dr. Jeff Krauss is the Chief Medical Officer at Hinge Health, a role he assumed in September 2018.

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The key risks to Hinge Health's business include:

Challenges with Healthcare Reimbursement and Regulatory Environment: Hinge Health's business model relies on developing "novel billing methods" and partnering with various entities like health plans and pharmacy benefit managers (PBMs) to navigate the complex healthcare reimbursement framework. The healthcare industry is heavily regulated, and any changes to reimbursement policies, challenges in gaining acceptance for their billing methods, or difficulties in expanding into new, highly regulated segments like fully-insured and Medicare Advantage populations and federal insurance plans, could significantly impact their revenue and growth trajectory.
Dependence on AI-Powered Technology Efficacy and Member Engagement: Hinge Health's core value proposition is built on its AI-powered motion tracking technology (TrueMotion) and proprietary FDA-cleared wearable device (Enso), which largely automate care for joint and muscle health and aim to reduce human care team hours by approximately 95%. A significant risk lies in the continuous efficacy of these technologies in delivering superior clinical outcomes, maintaining high member satisfaction, and sustaining member engagement, particularly given the inherent difficulty of automating unstructured physical tasks in healthcare. Any technical failures, lack of desired clinical results, or a decline in member trust and adoption could undermine the company's value proposition.
Intense Competition and Market Penetration Challenges: While Hinge Health operates in a "massive" musculoskeletal (MSK) market, the healthcare industry has "no shortage of new technologies," implying a highly competitive landscape. Despite significant client retention rates and contracts with a large percentage of Fortune 100 and 500 companies, Hinge Health's current contracted lives represent only 5% of its total addressable market. The company faces the ongoing challenge of effectively competing with existing solutions and new market entrants, and efficiently penetrating the remaining 95% of the market to sustain its growth.

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The addressable market for Hinge Health's main products and services, which include its digital musculoskeletal (MSK) care platform, is approximately 400 million lives in the U.S.

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Expected Drivers of Future Revenue Growth for Hinge Health (HNGE)

Hinge Health anticipates several key drivers for its revenue growth over the next 2-3 years, primarily stemming from its extensive market opportunity, strategic partnerships, and expansion into new customer segments.

Growth in contracted lives and client acquisition: Hinge Health currently serves approximately 20 million contracted lives, which represents only 5% of its total addressable market. This leaves substantial room for growth through acquiring new self-insured employers and increasing penetration within the Fortune 100 and Fortune 500 companies, where it already has significant presence but still opportunities to expand.
Expansion into new market segments: The company is in the early stages of broadening its reach beyond self-insured employers to serve fully-insured and Medicare Advantage populations of health plans, as well as federal insurance plans. This strategic expansion into new payer types opens up large, previously untapped revenue streams.
Deepening engagement and penetration within existing client base: Hinge Health benefits from a recurring revenue model, demonstrated by a net dollar retention of 117% as of December 31, 2024, and a 12-month client retention rate of 98%. This indicates a strong ability to enroll, engage, and re-engage eligible members within its existing client contracts, leading to organic revenue growth over the typical three-year contract term.
Leveraging and expanding its partner network: With over 50 partners, including the five largest national health plans and top three PBMs, Hinge Health's partner network is a crucial component of its efficient go-to-market strategy. These partnerships reduce friction in contracting, procurement, and onboarding, facilitating the efficient provision of its platform to clients and members, thereby accelerating client acquisition and growth in contracted lives.

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Interactive Breakdown

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Better Bets vs. Hinge Health (HNGE)

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Peer Outperformance in Health Care Technology

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Share of Health Care Technology constituents that HNGE has outperformed, by holding period. Peers without a full price history over a given window are excluded from that window.

91%

of 35 industry peers · 60.7% return

—

insufficient peer history

—

insufficient peer history

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Median price return by industry across the Health Care sector, ranked by 5Y. Health Care Technology is HNGE's own industry. Use this to see which corners of the sector have carried the returns.

Industry	Names	1Y med	3Y med	5Y med	Top 3 by 5Y
Health Care Distributors	7	11.4%	82.6%	133.3%	CAH 407% · MCK 354% · COR 182%
Health Care Services	20	19.8%	45.0%	3.4%	HIMS 310% · RDNT 142% · DGX 81%
Managed Health Care	8	33.7%	-2.9%	2.5%	OSCR 114% · HQY 42% · ELV 15%
Health Care Facilities	24	4.6%	-4.2%	-16.8%	THC 257% · NHC 244% · ENSG 113%
Health Care Equipment	51	-5.4%	-6.4%	-21.4%	POCI 10975% · UFPT 336% · GKOS 220%
Health Care Supplies	12	33.7%	-14.8%	-34.4%	LNTH 291% · HAE 71% · MMSI 25%
Pharmaceuticals	63	-0.6%	9.6%	-37.0%	LQDA 2490% · INDV 1235% · ETON 1136%
Life Sciences Tools & Services	108	-1.2%	-31.2%	-72.1%	SNWV 1802% · MEDP 239% · AXGN 208%
Health Care Technology ←	21	-22.7%	-56.6%	-74.4%	SPOK 119% · HSTM -1% · VEEV -15%
Biotechnology	365	8.8%	-24.8%	-77.7%	BRTX 102900% · DNTH 1685% · CELZ 1529%

Median of constituents with a full price history over each window. Top names are unfiltered by size in this render.

Latest Trefis Analyses

	Title	Date
0	DASHBOARDS
1	Hinge Health Stock Surges 24%, With A 7-Day Winning Spree	07/02/2026
2	7-Day Rally Sends Hinge Health Stock Up 27%	05/09/2026
3	6-Day Rally Sends Hinge Health Stock Up 25%	05/08/2026
4	Hinge Health Stock (+17%): Earnings Beat & AI Narrative Ignite Rally	02/12/2026
5	Hinge Health Earnings Notes	12/20/2025
6	Can Hinge Health Stock Hold Up When Markets Turn?	10/17/2025

	Title
0	ARTICLES

Trade Ideas

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HRL	Hormel Foods	11.7	-10.2%	-6.7%
PAY	Paymentus	4.5	-9.7%	12.7%
P	Everpure	32.9	-8.9%	48.2%
BURL	Burlington Stores	18.2	-7.6%	0.4%
EYPT	EyePoint	0.4	-7.2%	-74.7%
LUCK	Lucky Strike Entertainment	0.8	-7.1%	-25.1%
SFM	Sprouts Farmers Market	7.7	-6.7%	1.7%
SPHR	Sphere Entertainment	5.3	-6.4%	55.0%

Top Gainers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
ASST	Strive	1.4	43.3%	56.6%
ANF	Abercrombie & Fitch	6.6	38.8%	15.8%
OKTA	Okta	30.5	28.9%	100.0%
TMC	TMC The Metals	2.2	28.2%	-17.5%
PURR	Hyperliquid Strategies	1.6	27.3%	260.4%
INBX	Inhibrx Biosciences	1.9	25.0%	56.9%
METC	Ramaco Resources	0.8	24.8%	-22.7%
TENX	Tenax Therapeutics	0.1	23.0%	-82.0%
VIR	Vir Biotechnology	1.7	22.8%	87.6%
CRM	Salesforce	218.8	22.7%	-4.4%

Top Losers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
DKS	Dick's Sporting Goods	11.7	-26.5%	-32.6%
DY	Dycom Industries	9.2	-23.0%	-8.8%
SWMR	Swarmer	0.6	-20.5%	17.8%
RGNX	Regenxbio	0.5	-15.3%	-34.9%
AEHR	Aehr Test Systems	2.8	-14.6%	348.0%
EYPT	EyePoint	0.4	-14.3%	-74.7%
BETA	BETA Technologies	5.1	-13.9%	-22.2%
SYRE	Spyre Therapeutics	7.4	-13.2%	185.8%
AEVA	Aeva Technologies	1.0	-13.1%	23.4%
BURL	Burlington Stores	18.2	-13.0%	0.4%

Top Gainers

Ticker	Company	Mkt Cap (B)	1M Rtn	YTD Rtn
MRNA	Moderna	56.4	162.0%	384.1%
ABCL	AbCellera Biologics	3.8	130.1%	262.6%
PURR	Hyperliquid Strategies	1.6	114.9%	260.4%
ASST	Strive	1.4	109.0%	56.6%
LIFE	Ethos Technologies	1.9	98.8%	4682.9%
STDN	Standard Nuclear	2.4	95.2%	16.3%
HTFL	HeartFlow	4.1	92.1%	65.0%
AMLX	Amylyx Pharmaceuticals	4.1	88.4%	207.8%
IOVA	Iovance Biotherapeutics	3.5	81.1%	202.6%
AXTI	AXT	3.6	81.0%	309.3%

Top Losers

Ticker	Company	Mkt Cap (B)	1M Rtn	YTD Rtn
SION	Sionna Therapeutics	0.3	-86.5%	-85.3%
TENX	Tenax Therapeutics	0.1	-85.2%	-82.0%
EYPT	EyePoint	0.4	-61.2%	-74.7%
TDUP	ThredUp	0.3	-54.8%	-58.1%
KLC	KinderCare Learning Companies	0.3	-53.6%	-41.4%
UTI	Universal Technical Institute	1.2	-47.3%	-17.3%
AHCO	AdaptHealth	0.8	-46.2%	-41.8%
REZI	Resideo Technologies	3.0	-44.0%	-43.1%
PLTK	Playtika	0.9	-42.9%	-41.8%
ARKO	ARKO	0.5	-42.0%	-0.2%

Peer Comparisons

Peers to compare with:

Financials

	HNGE	TDOC	AMWL	DRIO	Median
Name	Hinge He.	Teladoc .	American.	DarioHea.
Mkt Price	92.85	6.36	11.75	6.77	9.26
Mkt Cap	7.3	1.2	0.2	0.1	0.7
Rev LTM	720	2,489	219	21	469
Op Inc LTM	94	-146	-81	-32	-57
FCF LTM	284	118	-32	-25	46
FCF 3Y Avg	-	155	-95	-31	-31
CFO LTM	291	261	-26	-25	118
CFO 3Y Avg	-	299	-88	-31	-31

Growth & Margins

	HNGE	TDOC	AMWL	DRIO	Median
Name	Hinge He.	Teladoc .	American.	DarioHea.
Rev Chg LTM	49.8%	-2.1%	-19.0%	-22.6%	-10.5%
Rev Chg 3Y Avg	-	-0.5%	-6.8%	-3.0%	-3.0%
Rev Chg Q	53.0%	-4.0%	-26.6%	-3.6%	-3.8%
QoQ Delta Rev Chg LTM	11.4%	-1.0%	-7.9%	-0.9%	-0.9%
Op Inc Chg LTM	117.0%	20.6%	42.2%	24.8%	33.5%
Op Inc Chg 3Y Avg	-	12.7%	31.2%	10.3%	12.7%
Op Mgn LTM	13.0%	-5.9%	-37.3%	-151.6%	-21.6%
Op Mgn 3Y Avg	-43.9%	-7.1%	-62.4%	-213.6%	-53.2%
QoQ Delta Op Mgn LTM	94.6%	0.4%	1.6%	11.5%	6.5%
CFO/Rev LTM	40.4%	10.5%	-12.1%	-120.7%	-0.8%
CFO/Rev 3Y Avg	-	11.7%	-34.4%	-143.6%	-34.4%
FCF/Rev LTM	39.4%	4.7%	-14.7%	-121.3%	-5.0%
FCF/Rev 3Y Avg	-	6.1%	-37.4%	-144.7%	-37.4%

Valuation

	HNGE	TDOC	AMWL	DRIO	Median
Name	Hinge He.	Teladoc .	American.	DarioHea.
Mkt Cap	7.3	1.2	0.2	0.1	0.7
P/S	10.2	0.5	0.9	3.0	2.0
P/Op Inc	78.3	-7.9	-2.4	-2.0	-2.2
P/EBIT	78.3	-7.1	-2.4	-2.1	-2.2
P/E	67.2	-6.5	-2.5	-1.8	-2.1
P/CFO	25.2	4.4	-7.5	-2.5	1.0
Total Yield	1.5%	-15.4%	-39.7%	-56.4%	-27.5%
Dividend Yield	0.0%	0.0%	0.0%	0.0%	0.0%
FCF Yield 3Y Avg	-	9.8%	-85.4%	-1,128.9%	-85.4%
D/E	0.0	0.9	0.0	0.5	0.3
Net D/E	-0.1	0.2	-1.0	0.3	0.1

Returns

	HNGE	TDOC	AMWL	DRIO	Median
Name	Hinge He.	Teladoc .	American.	DarioHea.
1M Rtn	23.4%	-32.1%	6.0%	-9.7%	-1.9%
3M Rtn	69.0%	-15.3%	24.2%	-10.0%	7.1%
6M Rtn	112.6%	18.9%	104.3%	-39.7%	61.6%
12M Rtn	60.7%	-17.8%	69.1%	1,308.9%	64.9%
3Y Rtn	147.2%	-71.4%	-57.4%	-88.7%	-64.4%
1M Excs Rtn	19.7%	-36.4%	3.4%	-10.3%	-3.4%
3M Excs Rtn	66.8%	-17.5%	22.0%	-12.2%	4.9%
6M Excs Rtn	100.7%	7.0%	92.4%	-51.6%	49.7%
12M Excs Rtn	48.8%	-38.1%	48.3%	1,172.9%	48.6%
3Y Excs Rtn	71.0%	-148.3%	-130.7%	-164.2%	-139.5%

FDIC Bank Data

Bank Capital

null

Bank Deposits

null

Bank Assets

null

Bank Loans

null

FDA Approved Drugs Data

Expand for Morenull

Financials

Annual
Quarterly

$ Mil \| FY: 12/31	LTM	2025	2024	2023
Period End	6/30/2026	12/31/2025	12/31/2024	12/31/2023
Filing Date	8/6/2026	3/3/2026	5/23/2025	3/3/2026
Key Financials
Total Revenue	720	588	390	293
Gross Profit	608	468	300	194
EBITDA	98	-541	-26	-125
Operating Income	94	-546	-32	-131
Net Income	109	-528	-12	-108
EPS	1.35	-7.77	-0.15	-1.58
Growth Rates
Total Revenue Growth	49.8%	50.6%	33.4%	-
EBITDA Growth	118.1%	-1984.9%	79.2%	-
Operating Income Growth	117.0%	-1612.2%	75.6%	-
Net Income Growth	120.5%	-4326.9%	89.0%	-
Margins
Gross Margin	84.5%	79.6%	76.8%	66.3%
EBITDA Margin	13.7%	-92.1%	-6.6%	-42.7%
Operating Income Margin	13.0%	-92.9%	-8.2%	-44.6%
Net Income Margin	15.1%	-89.9%	-3.1%	-36.9%
Cash & Debt
Total Cash	389	364	467	423
Total Debt	6	8	11	16
Net Debt / (Cash)	-384	-356	-456	-408
Cash Flows & CapEx
Net Cash from Operations	291	171	49	-64
Total CapEx	-7	-6	-4	-5
Free Cash from Operations	284	165	45	-69
Returns to Shareholders
Dividends	0	-0	-0	-0
Share Repurchases	131	65	-0	-0

$ Mil \| FY: 12/31	2026Q2	2026Q1	2025Q4	2025Q3	2025Q2	2025Q1	2024Q4	2024Q3	2024Q2	2024Q1	2023Q4	2023Q3
Period End	6/30/2026	3/31/2026	12/31/2025	9/30/2025	6/30/2025	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023
Filing Date	8/6/2026	5/7/2026	3/3/2026	11/7/2025	8/11/2025	5/23/2025	5/23/2025	11/7/2025	8/11/2025	5/23/2025	5/23/2025	5/23/2025
Key Financials Quarterly
Total Revenue	213	182	171	154	139	124	117	101	90	83	82	81
Ebitda	42	33	28	-5	-579	14	22	-2	-16	-30	-30	-22
Operating Income	40	32	27	-6	-581	13	21	-4	-18	-31	-30	-22
Net Income	44	35	32	-2	-576	17	27	0	-13	-26	-24	-17
EPS	0.55	0.43	0.39	-0.02	-13.10	1.55	0.35	0.00	-0.19	-0.39	-0.35	-0.24
Key Financials TTM
Total Revenue TTM	720	646	588	534	481	432	390	355	335	315	293	-
Ebitda TTM	98	-522	-541	-547	-545	18	-26	-79	-99	-120	-131	-
Operating Income TTM	94	-527	-546	-553	-550	13	-32	-83	-102	-121	-131	-
Net Income TTM	109	-510	-528	-533	-531	32	-12	-63	-80	-99	-108	-
Growth Rates Quarterly
Total Revenue Growth	53.0%	47.2%	45.6%	53.3%	54.9%	49.7%	43.8%	23.7%	28.6%	37.8%	-	-
EBITDA Growth	107.2%	130.2%	27.8%	-98.8%	-3521.5%	148.4%	173.1%	89.1%	56.9%	26.5%	-	-
Operating Income Growth	107.0%	144.1%	30.3%	-58.5%	-3208.5%	141.8%	168.6%	82.8%	52.7%	22.6%	-	-
Net Income Growth	107.6%	105.0%	18.4%	-640.8%	-4353.4%	164.8%	212.5%	102.0%	59.4%	25.3%	-	-
Margins Quarterly
EBITDA Margin	19.5%	18.2%	16.7%	-3.1%	-416.5%	11.7%	19.0%	-2.4%	-17.8%	-36.0%	-37.4%	-27.4%
Operating Income Margin	19.0%	17.6%	16.0%	-4.0%	-417.5%	10.6%	17.8%	-3.8%	-19.5%	-38.0%	-37.4%	-27.4%
Net Income Margin	20.5%	19.3%	18.8%	-1.2%	-413.8%	13.8%	23.1%	0.3%	-14.4%	-32.0%	-29.6%	-20.6%
Cash & Debt
Total Cash	389	316	364	480	413	471	467	-	-	-	423	-
Total Debt	6	7	8	9	10	10	11	0	0	0	16	0
Net Debt / (Cash)	-384	-309	-356	-471	-403	-461	-456	-	-	-	-408	-
Cash Flows Quarterly
FCF from Operations	101	43	64	82	20	5	38	28	15	-33	-	-
Cash Flows TTM
FCF from Operations TTM	291	210	171	146	92	87	49	-	-	-	-	-
Returns to Shareholders Quarterly
Dividends	0	0	0	0	0	0	0	0	0	0	0	0
Share Repurchases	27	105	-0	-0	-0	-0	-0	-0	-0	-0	-0	-0
Return on Invested Capital (ROIC) Quarterly
ROIC	17.0%	12.3%	10.1%	-2.4%	-220.7%	10.3%	17.3%	-	-	-	-22.6%	-
Return on Invested Capital (ROIC) TTM
ROIC TTM	9.9%	-51.8%	-50.9%	-54.2%	-52.3%	2.5%	-6.6%	-	-	-	-24.5%	-

Segment Financials

Revenue by Segment

$ Mil	2025	2024	2023
Single Segment	588	390	293
Total	588	390	293

Net Income by Segment

$ Mil	2025	2024	2023
Single Segment	-528	-12	-108
Total	-528	-12	-108

Price Behavior

Price Behavior

Market Price	$92.85
Market Cap ($ Bil)	7.3
First Trading Date	05/22/2025
Distance from 52W High	0.0%
	50 Days	200 Days
DMA Price	$82.03	$45.59
DMA Trend	up	up
Distance from DMA	13.2%	103.7%
	3M	1YR
Volatility	49.4%	55.3%
Downside Capture	8.85	119.61
Upside Capture	254.35	149.33
Correlation (SPY)	31.3%	25.3%

HNGE Betas & Captures as of 7/31/2026

	1M	2M	3M	6M	1Y	3Y
Beta	0.51	0.86	0.83	1.05	1.16	0.19
Up Beta	2.02	1.75	2.35	1.08	1.23	0.11
Down Beta	0.22	-0.31	0.07	1.55	0.28	-0.77
Up Capture	-62%	220%	202%	190%	223%	29%
Bmk +ve Days	11	22	35	67	138	427
Stock +ve Days	11	25	40	76	134	156
Down Capture	98%	11%	-61%	14%	119%	69%
Bmk -ve Days	11	21	28	59	114	326
Stock -ve Days	11	18	23	50	115	138

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively

Based On 1-Year Data

	Annualized Return	Annualized Volatility	Sharpe Ratio	Correlation with HNGE
HNGE	68.7%	55.4%	1.14	-
Sector ETF (XLV)	26.9%	16.0%	1.30	10.6%
Equity (SPY)	20.6%	12.8%	1.19	25.2%
Gold (GLD)	35.6%	28.8%	1.05	4.4%
Commodities (DBC)	40.3%	20.3%	1.55	-6.1%
Real Estate (VNQ)	11.0%	13.7%	0.52	7.9%
Bitcoin (BTCUSD)	-29.7%	43.6%	-0.69	9.3%

Smart multi-asset allocation framework can stack odds in your favor. Learn How

Based On 5-Year Data

	Annualized Return	Annualized Volatility	Sharpe Ratio	Correlation with HNGE
HNGE	20.7%	61.2%	1.46	-
Sector ETF (XLV)	6.5%	15.1%	0.24	5.8%
Equity (SPY)	13.4%	17.2%	0.60	25.4%
Gold (GLD)	20.5%	18.7%	0.89	3.6%
Commodities (DBC)	11.0%	19.6%	0.44	-6.8%
Real Estate (VNQ)	2.2%	18.9%	0.01	7.7%
Bitcoin (BTCUSD)	11.0%	52.7%	0.39	11.4%

Smart multi-asset allocation framework can stack odds in your favor. Learn How

Based On 10-Year Data

	Annualized Return	Annualized Volatility	Sharpe Ratio	Correlation with HNGE
HNGE	9.9%	61.2%	1.46	-
Sector ETF (XLV)	10.6%	16.7%	0.51	5.8%
Equity (SPY)	15.3%	17.9%	0.72	25.4%
Gold (GLD)	12.6%	16.3%	0.64	3.6%
Commodities (DBC)	7.5%	18.1%	0.33	-6.8%
Real Estate (VNQ)	5.0%	20.7%	0.20	7.7%
Bitcoin (BTCUSD)	63.6%	66.1%	1.03	11.4%

Smart multi-asset allocation framework can stack odds in your favor. Learn How

Short Interest

Short Interest: As Of Date	8142026
Short Interest: Shares Quantity	5.6 Mil
Short Interest: % Change Since 7312026	-5.6%
Average Daily Volume	2.1 Mil
Days-to-Cover Short Interest	2.7 days
Basic Shares Quantity	79.0 Mil
Short % of Basic Shares	7.1%

Returns Analyses

	Title
0	Can Hinge Health Stock Hold Up When Markets Turn?

Earnings Returns History

Updated 8/21/2026

Expand for More

	Forward Returns
Earnings Date	1D Returns	5D Returns	21D Returns
8/4/2026	1.7%	12.1%
5/5/2026	10.2%	11.0%	26.6%
2/10/2026	17.3%	22.7%	34.5%
11/4/2025	-15.1%	-17.1%	-6.4%
8/5/2025	25.6%	16.1%	16.2%
SUMMARY STATS
# Positive	4	4	3
# Negative	1	1	1
Median Positive	13.8%	14.1%	26.6%
Median Negative	-15.1%	-17.1%	-6.4%
Max Positive	25.6%	22.7%	34.5%
Max Negative	-15.1%	-17.1%	-6.4%

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	Forward Returns
Earnings Date	1D Returns	5D Returns	21D Returns
8/4/2026	1.7%	12.1%
5/5/2026	10.2%	11.0%	26.6%
2/10/2026	17.3%	22.7%	34.5%
11/4/2025	-15.1%	-17.1%	-6.4%
8/5/2025	25.6%	16.1%	16.2%
SUMMARY STATS
# Positive	4	4	3
# Negative	1	1	1
Median Positive	13.8%	14.1%	26.6%
Median Negative	-15.1%	-17.1%	-6.4%
Max Positive	25.6%	22.7%	34.5%
Max Negative	-15.1%	-17.1%	-6.4%

SEC Filings

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Report Date	Filing Date	Filing
06/30/2026	08/06/2026	10-Q
03/31/2026	05/07/2026	10-Q
12/31/2025	03/03/2026	10-K
09/30/2025	11/07/2025	10-Q
06/30/2025	08/11/2025	10-Q
03/31/2025	05/23/2025	424B4

Recent Forward Guidance

Updated 8/5/2026

Latest: Q2 2026 Earnings Reported 8/4/2026

Forward Guidance				Guidance Change
Metric	Low	Mid	High	% Chg	% Delta	Change	Prior
Q3 2026 Revenue	223.00 Mil	224.00 Mil	225.00 Mil	14.9%		Higher New	Actual: 195.00 Mil for Q2 2026
Q3 2026 Non-GAAP Income from Operations	61.00 Mil	62.00 Mil	63.00 Mil	29.2%		Higher New	Actual: 48.00 Mil for Q2 2026
2026 Revenue	856.00 Mil	858.00 Mil	860.00 Mil	7.1%		Raised	Guidance: 801.00 Mil for 2026
2026 Non-GAAP Income from Operations	236.00 Mil	240.00 Mil	244.00 Mil	14.3%		Raised	Guidance: 210.00 Mil for 2026
2026 Non-GAAP Operating Margin		28.0%			2.0%	Raised	Guidance: 26.0% for 2026

Prior: Q1 2026 Earnings Reported 5/5/2026

Forward Guidance				Guidance Change
Metric	Low	Mid	High	% Chg	% Delta	Change	Prior
Q2 2026 Revenue	194.00 Mil	195.00 Mil	196.00 Mil	13.4%		Higher New	Guidance: 172.00 Mil for Q1 2026
Q2 2026 Non-GAAP Income from Operations	47.00 Mil	48.00 Mil	49.00 Mil	54.8%		Higher New	Guidance: 31.00 Mil for Q1 2026
Q2 2026 Non-GAAP Operating Margin		25.0%			7.0%	Higher New	Guidance: 18.0% for Q1 2026
2026 Revenue	798.00 Mil	801.00 Mil	804.00 Mil	8.7%		Raised	Guidance: 737.00 Mil for 2026
2026 Non-GAAP Income from Operations	205.00 Mil	210.00 Mil	215.00 Mil	36.8%		Raised	Guidance: 153.50 Mil for 2026
2026 Non-GAAP Operating Margin		26.0%			5.0%	Raised	Guidance: 21.0% for 2026

Q4 2025 Earnings Reported 2/10/2026

Forward Guidance				Guidance Change
Metric	Low	Mid	High	% Chg	% Delta	Change	Prior
Q1 2026 Revenue	171.00 Mil	172.00 Mil	173.00 Mil	10.3%		Higher New	Guidance: 156.00 Mil for Q4 2025
Q1 2026 Non-GAAP Income from Operations	30.00 Mil	31.00 Mil	32.00 Mil	-11.4%		Lower New	Guidance: 35.00 Mil for Q4 2025
Q1 2026 Non-GAAP Operating Margin		18.0%
2026 Revenue	732.00 Mil	737.00 Mil	742.00 Mil	28.6%		Higher New	Guidance: 573.00 Mil for 2025
2026 Non-GAAP Income from Operations	151.00 Mil	153.50 Mil	156.00 Mil	43.5%		Higher New	Guidance: 107.00 Mil for 2025
2026 Non-GAAP Operating Margin		21.0%

Q3 2025 Earnings Reported 11/4/2025

Forward Guidance				Guidance Change
Metric	Low	Mid	High	% Chg	% Delta	Change	Prior
Q4 2025 Revenue	155.00 Mil	156.00 Mil	157.00 Mil	9.9%		Higher New	Guidance: 142.00 Mil for Q3 2025
Q4 2025 Non-GAAP Income from Operations	34.00 Mil	35.00 Mil	36.00 Mil	84.2%		Higher New	Guidance: 19.00 Mil for Q3 2025
2025 Revenue	572.00 Mil	573.00 Mil	574.00 Mil	4.2%		Raised	Guidance: 550.00 Mil for 2025
2025 Non-GAAP Income from Operations	106.00 Mil	107.00 Mil	108.00 Mil	33.8%		Raised	Guidance: 80.00 Mil for 2025

Insider Activity

Updated 8/27/2026

Expand for More

#	Owner	Title	Holding	Action	Filing Date	Price	Shares	Transacted Value	Value of Held Shares	Form
1	Robinson, Elliott		See footnote	Sell	8272026	0.00	0			Form
2	Robinson, Elliott		See footnote	Sell	8272026	0.00	0			Form
3	Pursley, James	President	Direct	Sell	8242026	88.05	33,000	2,905,663	62,184,276	Form
4	Leslie, Kristina M		Direct	Sell	8212026	88.23	1,200	105,876	2,681,045	Form
5	Robinson, Elliott		See footnote	Sell	8212026	0.00	0			Form

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#	Owner	Title	Holding	Action	Filing Date	Price	Shares	Transacted Value	Value of Held Shares	Form
1	Robinson, Elliott		See footnote	Sell	8272026	0.00	0			Form
2	Robinson, Elliott		See footnote	Sell	8272026	0.00	0			Form
3	Pursley, James	President	Direct	Sell	8242026	88.05	33,000	2,905,663	62,184,276	Form
4	Leslie, Kristina M		Direct	Sell	8212026	88.23	1,200	105,876	2,681,045	Form
5	Robinson, Elliott		See footnote	Sell	8212026	0.00	0			Form
6	Insight, Holdings Group, Llc		See footnotes	Sell	7092026	90.20	181,499			Form
7	Insight, Holdings Group, Llc		See footnotes	Sell	7092026	90.23	244,672			Form
8	Mecklenburg, Gabriel MI		Direct	Sell	7022026	85.05	83,334			Form
9	Insight, Holdings Group, Llc		See footnotes	Sell	6292026	82.83	1,466,667			Form
10	Insight, Holdings Group, Llc		See footnotes	Sell	6292026	71.82	530,982			Form
11	Insight, Holdings Group, Llc		See Footnotes	Sell	6242026	71.67	142,311			Form
12	Insight, Holdings Group, Llc		See Footnotes	Sell	6242026	71.15	390,917			Form
13	Insight, Holdings Group, Llc		See Footnotes	Sell	6242026	70.21	112,477			Form
14	Insight, Holdings Group, Llc		See Footnotes	Sell	6242026	70.95	224,399			Form
15	Pursley, James	President	Direct	Sell	6232026	69.31	33,000	2,287,251	51,352,049	Form
16	Insight, Holdings Group, Llc		See footnotes	Sell	6182026	70.36	65,581			Form
17	Robinson, Elliott		See footnote	Sell	6122026	0.00	0			Form
18	Robinson, Elliott		See footnote	Sell	6122026	0.00	0			Form
19	Robinson, Elliott		See footnote	Sell	6122026	0.00	0			Form
20	Mecklenburg, Gabriel MI		Direct	Sell	6052026	65.54	50,000			Form
21	Robinson, Elliott		See footnote	Sell	6032026	0.00	0			Form
22	Robinson, Elliott		See footnote	Sell	6032026	0.00	0			Form
23	Mecklenburg, Gabriel MI		Direct	Sell	6032026	60.22	83,334			Form
24	Pursley, James	President	Direct	Sell	5272026	53.79	16,000	860,606	41,966,523	Form
25	Mecklenburg, Gabriel MI		Direct	Sell	5272026	53.79	83,333			Form
26	Budge, James	Chief Financial Officer	Direct	Sell	5272026	53.79	5,907	317,757	23,958,791	Form
27	Budge, James	Chief Financial Officer	Direct	Sell	5212026	55.34	781	43,221	24,974,555	Form
28	Robinson, Elliott		See footnote	Sell	5112026	0.00	0			Form
29	Robinson, Elliott		See footnote	Sell	5112026	0.00	0			Form
30	Perez, Daniel Antonio	CEO & Co-Founder	Spouse	Sell	5082026	55.05	45,456	2,502,366	1,952,634	Form
31	Mecklenburg, Gabriel MI		Direct	Sell	5082026	55.01	50,000			Form
32	Perez, Daniel Antonio	CEO & Co-Founder	Spouse	Sell	5082026	55.09	104,544	5,759,162	1,953,986	Form
33	Mecklenburg, Gabriel MI		Direct	Sell	4222026	45.05	33,333			Form
34	Mecklenburg, Gabriel MI		Direct	Sell	4022026	38.46	50,000			Form
35	Pursley, James	President	Direct	Sell	3242026	42.26	15,000	633,927	30,940,048	Form
36	Budge, James	Chief Financial Officer	Direct	Sell	3242026	42.26	11,006	465,139	16,965,222	Form
37	Mecklenburg, Gabriel MI		Direct	Sell	3102026	45.32	166,666			Form
38	Pursley, James	President	Direct	Sell	2242026	39.33	15,000	589,984	29,586,931	Form
39	Budge, James	Chief Financial Officer	Direct	Sell	2242026	39.34	14,763	580,737	16,526,882	Form
40	Robinson, Elliott		See footnote	Sell	2172026	0.00	0			Form
41	Robinson, Elliott		See footnote	Sell	2172026	0.00	0			Form
42	Perez, Daniel Antonio	CEO & Co-Founder	Direct	Sell	2132026	40.26	166,665			Form
43	Perez, Daniel Antonio	CEO & Co-Founder	Direct	Sell	1062026	46.38	166,665			Form
44	Pursley, James	President	Direct	Sell	12232025	48.40	15,000	725,950	37,254,715	Form
45	Budge, James	Chief Financial Officer	Direct	Sell	12232025	48.41	10,491	507,837	21,355,866	Form
46	Perez, Daniel Antonio	CEO & Co-Founder	Direct	Sell	12162025	48.53	166,670			Form
47	Robinson, Elliott		See footnote	Sell	12092025	0.00	0			Form
48	Insight, Holdings Group, Llc		See footnotes	Sell	12032025	47.76	1,654,440			Form
49	Robinson, Elliott		See footnote	Sell	12012025	0.00	0			Form
50	Robinson, Elliott		See footnote	Sell	12012025	0.00	0			Form
51	Budge, James	Chief Financial Officer	Direct	Sell	11252025	47.47	44,589	2,116,779	22,781,302	Form
52	Pursley, James	President	Direct	Sell	11242025	45.57	15,000	683,487	35,992,505	Form
53	Leslie, Kristina M		Direct	Sell	11242025	45.68	1,250	57,106	1,267,753	Form
54	Budge, James	Chief Financial Officer	Direct	Sell	11212025	44.78	781	34,973	23,485,632	Form
55	Bessemer, Venture Partners X LP		See footnote	Sell	11202025	40.05	725,000	29,036,250	135,517,465	Form
56	Robinson, Elliott		See footnote	Sell	11202025	0.00	0			Form
57	Leslie, Kristina M		Direct	Sell	11192025	43.60	3,813	166,258	1,264,487	Form
58	Leslie, Kristina M		Direct	Sell	11192025	40.46	2,187	88,476	1,327,470	Form

Investor Activity (13F)

Updated Aug 28, 2026

13F holdings as of Mar 31, 2026 (Q1 2026)

Active managers (13F portfolio over $250M, at least 3 holdings) with a position over $5M that is either over 10% of their portfolio or held in a concentrated book of 50 or fewer total positions. Index/ETF, sovereign, bank, community-bank and charitable/donor-advised filers are excluded.

Active Manager	Value	% of Portfolio	Total Positions	QoQ	Filing
Insight Holdings Group, LLC	$361.5 Mil	25.4%	28	Hold	13F
Deer Management Co. LLC	$101.6 Mil	16.3%	10	New	13F
Shannon River Fund Management LLC	$16.1 Mil	3.1%	28	ADD +78.8%	13F
Estuary Capital Management LP	$15.2 Mil	2.5%	22	New	13F
Foresite Capital Management VI LLC	$8.5 Mil	1.8%	17	ADD +63.3%	13F

Active Manager	Value	% of Portfolio	Total Positions	QoQ	Filing
Deer Management Co. LLC	$101.6 Mil	16.3%	10	New	13F
Estuary Capital Management LP	$15.2 Mil	2.5%	22	New	13F
Shannon River Fund Management LLC	$16.1 Mil	3.1%	28	ADD +78.8%	13F
Foresite Capital Management VI LLC	$8.5 Mil	1.8%	17	ADD +63.3%	13F

Active Manager

Active Manager	Value	% of Portfolio	Total Positions	QoQ	Filing
Insight Holdings Group, LLC	$361.5 Mil	25.4%	28	Hold	13F
Deer Management Co. LLC	$101.6 Mil	16.3%	10	New	13F
Shannon River Fund Management LLC	$16.1 Mil	3.1%	28	ADD +78.8%	13F
Estuary Capital Management LP	$15.2 Mil	2.5%	22	New	13F
Foresite Capital Management VI LLC	$8.5 Mil	1.8%	17	ADD +63.3%	13F

HNGE Trade Sentinel

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Hinge Health (HNGE)

Market Price (8/28/2026): $92.13 | Market Cap: $7.3 BilSector: Health Care | Industry: Health Care Technology

Hinge Health (HNGE)

Market Price (8/28/2026): $92.13Market Cap: $7.3 BilSector: Health CareIndustry: Health Care Technology

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Market Price (8/28/2026): $92.13
Market Cap: $7.3 Bil
Sector: Health Care
Industry: Health Care Technology