Hinge Health Raises 2026 Revenue Outlook to $880 Million

The Tip Desk · November 3, 2026 · 3 min read

Third-quarter revenue reached $235.0 million, up 52% from a year earlier, as the company lifted its full-year midpoint to $880 million.

Hinge Health, Inc. (HNGE), the AI-powered care-delivery company, reported third-quarter revenue of $235.0 million, up 52% from $154.2 million a year earlier, and raised its full-year 2026 revenue guidance midpoint to $880 million, implying 50% year-over-year growth.

The sequential growth rate ticked down from 53% in the second quarter, when revenue was $212.8 million. Co-founder and Chief Executive Officer Daniel Perez said the company’s “strong performance continues to reflect our ability to deliver exceptional clinical outcomes, a better healthcare experience and lower client costs at scale,” and that the same focus on what he called the triple aim was producing “a record sales season.”

Profitability widened on both GAAP and non-GAAP bases. GAAP income from operations was $50.3 million, or a 21% operating margin, versus a $6.1 million operating loss and a (4)% margin a year earlier. Non-GAAP income from operations rose 154% to $77.2 million from $30.4 million, and non-GAAP operating margin was 33% versus 20%. GAAP diluted net income was $0.66 a share, compared with a $0.02 loss a year earlier; non-GAAP diluted net income was $0.71 a share versus $0.32.

GAAP gross margin was 87% and non-GAAP gross margin was 88%. Free cash flow was $112.7 million, a 48% free cash flow margin, and net cash provided by operating activities was $114.6 million.

Perez said the client base was up almost 30% year-over-year for the MSK Care Program, roughly 40% for the GI Care Program since the August announcement of the Cylinder Health acquisition, and had nearly doubled for the Migraine Care Program since the prior quarter. Clients stood at 3,270 as of September 30, 2026, up 28% from 2,560 a year earlier. Last-twelve-months calculated billings were $960.3 million, up 54% from $624.2 million as of September 30, 2025.

The Cylinder Health deal closed in the quarter. Cash used for the business acquisition was $97.4 million, plus $9.0 million for an asset acquisition. Goodwill was $113.0 million and intangible assets, net, were $68.3 million as of September 30, 2026, compared with $64.1 million and $2.5 million at year-end 2025. Cash, cash equivalents, marketable securities and restricted cash were $358.5 million at quarter-end, down from $475.6 million as of June 30, 2026.

The company raised full-year non-GAAP income from operations guidance to $266 million to $268 million, a 30% non-GAAP operating margin midpoint and about 1,000 basis points above 2025. For the fourth quarter it expects revenue of $249 million to $251 million, 46% year-over-year growth at the midpoint, and non-GAAP income from operations of $81 million to $83 million, a 33% non-GAAP operating margin at the midpoint.

Jim Pursley will step down as President effective January 1, 2027, and join the board effective January 4, 2027. Aaryn Pure will lead the commercial organization as Chief Commercial Officer. Perez said Pursley “has been instrumental in our scaling to over 3,200 clients.”