HNGE · Hinge Health, Inc.

Hinge Health delivered exceptional Q1 2026 results, with revenue of $182.3 million reflecting 47% year-over-year growth that significantly exceeded expectations, as highlighted by CEO Daniel Perez attributing strength to the platform's automation of care delivery, improved member outcomes, and cost reductions. Gross margins expanded to 85% from 81% YoY on both GAAP and non-GAAP bases, signaling operational efficiency gains. Operating income saw dramatic increases—GAAP up 144% to $32.1 million and non-GAAP up 208% to $46.2 million—demonstrating robust profitability scaling. Diluted EPS came in at $0.41 GAAP and $0.45 non-GAAP, supported by a 2.5% reduction in diluted share count to 82.4 million. Key business metrics reinforced momentum: clients expanded 23% to 2,849 and LTM calculated billings rose 52% to $769.9 million. Reflecting this performance, management raised full-year revenue guidance by $64 million at the midpoint to $801 million (36% YoY growth) and non-GAAP operating income to $205-215 million with 26% margins, alongside Q2 revenue of $194-196 million. Cash generation strengthened markedly, with operating cash flow at $43.1 million and free cash flow at $41.6 million, bolstering a $407.1 million liquidity position. The launch of the Migraine Care Program signals platform expansion beyond digital physical therapy. Investors should note the press release furnishes Item 2.02 information, not filed, with non-GAAP reconciliations provided, and monitor ir.hingehealth.com for supplemental materials under Regulation FD.