Hyperfine (NASDAQ:HYPR) reported record third-quarter revenue and gross margin, while narrowing its operating loss and reducing cash burn as sales of its portable brain MRI system increased across its U.S. and international markets.
Revenue rose 73% from a year earlier to $6 million for the quarter ended September 30, 2026, and increased 53% from the second quarter. Hyperfine sold 14 Swoop systems, up from eight a year earlier, and reported a record average selling price.
The company reaffirmed its full-year revenue and cash burn forecasts and raised the lower end of its gross margin guidance. President and CEO Maria Sainz said the quarter’s growth came from hospital, office and international sales, with the hospital business remaining its largest commercial vertical.
Margins improve as cash burn declines
Third-quarter gross profit increased to $3.4 million from $1.8 million a year earlier. Gross margin rose to 56.7% from 53.8% in the prior-year period and 50.7% in the second quarter. Chief Administrative Officer and CFO Brett Hale attributed the improvement to higher average selling prices, the mix of Model 2 systems and increased scale.
Operating loss narrowed to $7.3 million, do...