The balance sheet remains under pressure from a $1.0 billion accumulated deficit, while the current ratio tightened to 1.22 in 2026Q1, signaling narrowing liquidity buffers.
| Total Current Assets | 505.55M | 533.9M | 583.45M | 529.88M |
| Cash & Short-Term Investments | 317.31M | 363.86M | 466.57M | 423.36M |
| Cash Only | 188.11M | 208M | 300.79M | 234.95M |
| Short-Term Investments | 129.2M | 155.87M | 165.79M | 188.4M |
| Accounts Receivable | 114.92M | 66.06M | 42.49M | 46.56M |
| Days Sales Outstanding | 51.82 | 41.02 | 39.73 | 58.06 |
| Inventory | 14.17M | 15.64M | 10.87M | 13.29M |
| Days Inventory Outstanding | 42.35 | 47.7 | 44.19 | 49.23 |
| Other Current Assets | 59.15M | 57.41M | 39.59M | 32.31M |
| Total Non-Current Assets | 223.22M | 210.86M | 89.81M | 92.65M |
| Property, Plant & Equipment | 17.31M | 17.35M | 16.99M | 22.48M |
| Fixed Asset Turnover | 38.51x | 33.88x | 22.98x | 13.02x |
| Goodwill | 64.1M | 64.1M | 61.61M | 61.61M |
| Intangible Assets | 2.29M | 2.51M | 1.81M | 2.19M |
| Long-Term Investments | 218.02M | 113.17M | 0 | 0 |
| Other Non-Current Assets | 49.77M | 13.73M | 9.41M | 6.38M |
| Total Assets | 728.77M | 744.76M | 673.26M | 622.53M |
| Asset Turnover | 0.88x | 0.79x | 0.58x | 0.47x |
| Asset Growth % | 12.54% | 10.62% | 8.15% | - |
| Total Current Liabilities | 414.48M | 362.41M | 249.3M | 184.16M |
| Accounts Payable | 69.48M | 0 | 0 | 0 |
| Days Payables Outstanding | 51.08 | - | - | - |
| Short-Term Debt | 4.23M | 0 | 0 | 0 |
| Deferred Revenue (Current) | 941.32M | 300.86M | 217.63M | 140.47M |
| Other Current Liabilities | 0 | 11.46M | 4.16M | 6.37M |
| Current Ratio | 1.22x | 1.47x | 2.34x | 2.88x |
| Quick Ratio | 1.19x | 1.43x | 2.30x | 2.81x |
| Cash Conversion Cycle | 43.09 | - | - | - |
| Total Non-Current Liabilities | 2.73M | 3.82M | 7.26M | 11.1M |
| Long-Term Debt | 0 | 0 | 0 | 0 |
| Capital Lease Obligations | 17.32M | 3.82M | 7.26M | 11.1M |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 0 | 0 | 0 | 0 |
| Total Liabilities | 417.21M | 366.23M | 256.56M | 195.25M |
| Total Debt | 6.97M | 8.04M | 11.07M | 15.73M |
| Net Debt | -181.14M | -199.96M | -289.71M | -219.22M |
| Debt / Equity | 0.02x | 0.02x | 0.03x | 0.04x |
| Debt / EBITDA | -0.01x | - | - | - |
| Net Debt / EBITDA | 0.35x | - | - | - |
| Interest Coverage | - | - | - | - |
| Total Equity | 311.56M | 378.54M | 416.7M | 427.28M |
| Equity Growth % | -38.16% | -9.16% | -2.48% | - |
| Book Value per Share | 3.78 | 4.63 | 5.34 | 5.48 |
| Total Shareholders' Equity | 311.56M | 378.54M | 416.7M | 427.28M |
| Common Stock | 0 | 0 | 0 | 0 |
| Retained Earnings | -1.02B | -1.05B | -522.74M | -510.8M |
| Treasury Stock | 0 | 0 | 0 | 0 |
| Accumulated OCI | -348K | -20K | 68K | 60K |
| Minority Interest | 0 | 0 | 0 | 0 |
Accumulated deficit and liquidity
According to recent financial statements, Hinge Health's total assets reached $728.8 million in 2026Q1, reflecting a strategic shift toward asset accumulation as the company scales its enterprise-focused digital clinic model while simultaneously working to address the significant $1.0 billion accumulated deficit reported on the balance sheet.
The trajectory of the balance sheet suggests a transition from pure cash-burn to a more structured asset base, though the persistent negative retained earnings indicate that historical losses remain a substantial drag on equity. Investors should monitor whether the recent growth in asset value translates into sustained operational efficiency or if it merely reflects the capital-intensive nature of expanding the company's digital infrastructure.
Based on reported figures, Hinge Health's current ratio tightened to 1.22 in 2026Q1 from 1.47 in 2025Q4, indicating that the company's immediate liquidity buffer is narrowing as it manages the working capital requirements associated with its expanding enterprise contract base and seasonal billing cycles.
The decline in the current ratio suggests that the company is utilizing its cash reserves more aggressively to fund operations, which may limit its flexibility in the event of unexpected market volatility. While the current position appears adequate for near-term obligations, the reduction in cash from $208.0 million to $188.1 million over the last quarter warrants further investigation into the sustainability of its current burn rate.
As reported in the latest quarterly filings, Hinge Health's deferred revenue surged to $340.8 million in 2026Q1, representing a significant increase from $300.9 million in the prior quarter and suggesting strong forward visibility into future service delivery for its large-scale employer clients.
This growth in deferred revenue is a positive indicator of the company's ability to secure multi-year commitments, which provides a degree of predictability to future cash flows. However, the reliance on these contracts implies that any disruption in client retention or clinical performance could lead to significant revenue volatility, as these figures are contingent upon the successful execution of service agreements.
Financial records indicate that Hinge Health carries an accumulated deficit of $1.0 billion as of 2026Q1, a figure that significantly distorts the quality of the company's equity and highlights the long-term impact of aggressive customer acquisition strategies on the firm's overall financial health.
The sheer scale of the accumulated deficit suggests that the company's path to profitability remains fraught with challenges, despite recent improvements in operating margins. Investors should be cautious, as this historical loss profile may necessitate future capital raises or dilutive financing, which could negatively impact existing shareholders if the company fails to maintain its current growth trajectory.
Quick answers to the most common questions about buying HNGE stock.
As of 2025, Hinge Health, Inc. (HNGE) had total assets of $744.8M including $533.9M in current assets.
Hinge Health, Inc. (HNGE) carries total debt of $8.0M, offset by $363.9M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Hinge Health, Inc. (HNGE) has total shareholders' equity (book value) of $378.5M ($4.63 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Hinge Health, Inc. (HNGE) reported a current ratio of 1.47x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.