The company's financial position is under pressure as total assets declined from $94.2 million in 2023Q4 to $60.3 million in 2026Q1, alongside a ballooning accumulated deficit of $338.6 million.
| Total Current Assets | 56.03M | 50.91M | 53.71M | 88.91M | 128.66M | 197.49M | 68.33M | 27.96M |
| Cash & Short-Term Investments | 40.78M | 35.09M | 37.65M | 75.18M | 118.24M | 188.5M | 62.68M | 26.44M |
| Cash Only | 40.78M | 35.09M | 37.65M | 75.18M | 118.24M | 188.5M | 62.68M | 26.44M |
| Short-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accounts Receivable | 5.8M | 6.52M | 8.3M | 4.13M | 3.13M | 644K | 174K | 0 |
| Days Sales Outstanding | 152.25 | 175.52 | 235.17 | 136.68 | 167.66 | 157.13 | 216.02 | - |
| Inventory | 6.33M | 7.09M | 5.83M | 6.58M | 4.62M | 4.31M | 1.72M | 0 |
| Days Inventory Outstanding | 294.45 | 380.01 | 304.14 | 382.86 | 285.6 | 590.74 | 813.32 | - |
| Other Current Assets | 3.13M | 2.21M | 1.93M | 3.01M | 2.67M | 2.87M | 3.54M | 683K |
| Total Non-Current Assets | 4.31M | 4.35M | 5.19M | 5.29M | 5.39M | 4.99M | 3.19M | 2.61M |
| Property, Plant & Equipment | 56.03M | 2.55M | 3.12M | 3M | 3.25M | 3.75M | 1.9M | 489K |
| Fixed Asset Turnover | 0.95x | 5.32x | 4.13x | 3.68x | 2.10x | 0.40x | 0.15x | - |
| Goodwill | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Long-Term Investments | 1.67M | 734K | 825K | 0 | 744K | 0 | 0 | 0 |
| Other Non-Current Assets | -51.73M | 1.07M | 1.24M | 2.29M | 1.4M | 1.24M | 1.29M | 2.12M |
| Total Assets | 60.34M | 55.26M | 58.9M | 94.2M | 134.05M | 202.47M | 71.53M | 30.57M |
| Asset Turnover | 0.30x | 0.25x | 0.22x | 0.12x | 0.05x | 0.01x | 0.00x | - |
| Asset Growth % | -74.26% | -6.18% | -37.47% | -29.73% | -33.79% | 183.08% | 133.97% | - |
| Total Current Liabilities | 10.15M | 11.73M | 8.73M | 8.77M | 8.8M | 15.74M | 4.12M | 1.79M |
| Accounts Payable | 4.55M | 4.05M | 1.61M | 1.21M | 678K | 2.25M | 948K | 1.19M |
| Days Payables Outstanding | 186.45 | 217.12 | 83.81 | 70.62 | 41.89 | 308.12 | 448.79 | - |
| Short-Term Debt | 0 | 248K | 0 | 0 | 0 | 0 | 0 | 0 |
| Deferred Revenue (Current) | 5.93M | 1.54M | 1.49M | 2.07M | 1.38M | 730K | 0 | 0 |
| Other Current Liabilities | 4.02M | 5.89M | 473K | 2.91M | 2.2M | 700K | 1.79M | 107K |
| Current Ratio | 5.52x | 4.34x | 6.15x | 10.14x | 14.62x | 12.55x | 16.60x | 15.63x |
| Quick Ratio | 4.90x | 3.73x | 5.48x | 9.39x | 14.09x | 12.28x | 16.18x | 15.63x |
| Cash Conversion Cycle | 260.25 | 338.4 | 455.5 | 448.92 | 411.37 | 439.75 | 580.55 | - |
| Total Non-Current Liabilities | 15.82M | 2.52M | 1.13M | 1.03M | 1.53M | 510K | 178K | 0 |
| Long-Term Debt | 0 | 0 | 0 | 0 | 0 | 0 | 178K | 0 |
| Capital Lease Obligations | 78K | 66K | 0 | 0 | 0 | 0 | 0 | 0 |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 15.82M | 1.73M | 78K | 64K | 0 | 0 | 1 | 0 |
| Total Liabilities | 25.98M | 14.26M | 9.86M | 9.8M | 10.33M | 16.25M | 4.29M | 1.79M |
| Total Debt | 0 | 314K | 269K | 185K | 0 | 0 | 178K | 0 |
| Net Debt | -40.78M | -34.77M | -37.38M | -75M | -118.24M | -188.5M | -62.5M | -26.44M |
| Debt / Equity | 0.00x | 0.01x | 0.01x | 0.00x | - | - | 0.00x | - |
| Debt / EBITDA | -0.00x | - | - | - | - | - | - | - |
| Net Debt / EBITDA | 1.23x | - | - | - | - | - | - | - |
| Interest Coverage | -439.40x | - | - | - | - | - | - | - |
| Total Equity | 34.36M | 41.01M | 49.04M | 84.4M | 123.72M | 186.23M | 67.23M | 28.78M |
| Equity Growth % | -138% | -16.38% | -41.89% | -31.78% | -33.56% | 176.99% | 133.59% | - |
| Book Value per Share | 0.35 | 0.44 | 0.68 | 1.18 | 1.76 | 2.65 | 2.67 | 6.22 |
| Total Shareholders' Equity | 34.36M | 41.01M | 49.04M | 84.4M | 123.72M | 186.23M | 67.23M | 28.78M |
| Common Stock | 10K | 10K | 7K | 7K | 7K | 7K | 0 | 0 |
| Retained Earnings | -338.64M | -330.02M | -294.44M | -253.72M | -209.48M | -136.32M | -71.47M | -48.04M |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Liquidity and capital exhaustion
As reported in recent financial statements, Hyperfine's total assets have declined from $94.2M in 2023Q4 to $60.3M by 2026Q1, reflecting a consistent downward trend that suggests the company is consuming its resource base to fund ongoing operations rather than reinvesting for sustainable long-term growth.
The steady reduction in total assets, coupled with the persistent accumulation of a $338.6M deficit in retained earnings, indicates that the business model has yet to achieve a self-sustaining trajectory. Investors should monitor whether this asset liquidation is a strategic pivot or a forced response to the inability to generate positive returns on invested capital.
Based on the latest quarterly filings, Hyperfine's cash position has dropped to $40.8M from a peak of $75.2M in 2023Q4, which, when viewed alongside the company's ongoing operating losses, suggests a narrowing buffer against potential liquidity shocks or the need for near-term external financing.
While the current ratio of 5.52 appears healthy on the surface, it masks the underlying reality of a company that is rapidly depleting its primary source of liquidity. The rapid decline in cash reserves warrants further investigation into the company's ability to fund its commercialization efforts without resorting to dilutive equity raises.
According to the provided balance sheet data, Hyperfine's asset mix is heavily skewed toward property, plant, and equipment, which surged to $56.0M in 2026Q1, representing a significant shift in capital allocation that may indicate increased investment in manufacturing capacity or inventory for the Swoop system.
This sudden spike in PPE suggests a potential change in operational strategy, though it remains unclear if this investment will translate into improved unit economics or merely increase the company's fixed-cost burden. The lack of goodwill on the balance sheet is a positive, as it avoids the risk of future impairment charges, but the capital-heavy nature of the business remains a concern.
As indicated by the reported figures, the company's retained earnings deficit has ballooned to $338.6M, a trend that highlights the extreme difficulty in achieving profitability and suggests that the balance sheet is being systematically hollowed out by years of sustained operational losses.
This massive deficit serves as a stark reminder of the capital-intensive nature of medical device commercialization and the high probability that the current equity base may be insufficient to support the company's long-term ambitions. Analysts should be wary of the potential for future balance sheet restructuring if the current burn rate continues unabated.
Quick answers to the most common questions about buying HYPR stock.
As of 2025, Hyperfine, Inc. (HYPR) had total assets of $55.3M including $50.9M in current assets.
Hyperfine, Inc. (HYPR) carries total debt of $0.3M, offset by $35.1M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Hyperfine, Inc. (HYPR) has total shareholders' equity (book value) of $41.0M ($0.44 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Hyperfine, Inc. (HYPR) reported a current ratio of 4.34x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.