Filing Flows › Hinge Health (HNGE) › Q3 2025
Hinge Health (HNGE) Q3 2025 earnings results (third quarter 2025)
10-Q filed Nov 7, 2025
Hinge Health (HNGE) reported revenue of $154M for the third quarter 2025 (Q3 2025), +53% from a year earlier and +11% from the quarter before. Operating margin was -4.0%, net loss $1.8M (1.2% of revenue).
Hinge Health, Q3 2025: revenue $154M (+53% year over year), operating margin -4.0%, net loss $1.8M, operating cash flow $82.4M. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $154M | +11% | +53% |
| Operating profit | −$6.1M | — | — |
| Net earnings | −$1.8M | — | — |
| Operating cash flow | $82.4M | +307% | +190% |
| Free cash flow | $81.3M | — | +195% |
What changed
Revenue was $154.2M in Q3 2025, up 53% year over year and up 11% from the previous quarter.
Gross margin was 81.8%, up 3.1 points from a year earlier. Operating costs exceeded revenue by $6.1M, an operating margin of -4.0%. Operating expenses grew 59% against revenue growth of 53%. The fastest-growing cost line was General & admin (+150%). The quarter ended with a net loss of $1.8M, narrower than the previous quarter's $575.7M loss. Non-operating items added $4.5M, -272% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was $82.4M (up 190% year over year). Non-cash charges added back $1.3M of depreciation and amortization and $34.8M of share-based compensation. Working capital and other items added $48.1M. After purchases of property, equipment and software (including capitalized internal use software) ($1.1M), free cash flow as the company reports it was $81.3M.
Questions
What was Hinge Health's revenue in the third quarter 2025?
Hinge Health (HNGE) reported revenue of $154M for the third quarter 2025 (Q3 2025), +53% from a year earlier and +11% from the quarter before.
Was Hinge Health profitable in the third quarter 2025?
Operating loss was $6.1M (-4.0% of revenue) and net loss $1.8M.
Source: Hinge Health 10-Q on SEC EDGAR.