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Hyperfine cash flow, quarter by quarter

Latest: Q2 2026 · from the cash-flow statements filed with the SEC

Free cash flow−$7.3M in Q2 2026 · −$27.5M over twelve months

Operating cash flow−$7.3M
Capital spending−$30K
Free cash flow−$7.3M
Cash conversion cycle239 days

Analysis

In Q2 2026, Hyperfine generated −$7.3M of operating cash flow and spent $30K on capital projects, leaving free cash flow of −$7.3M. That is $1.1M more than in Q2 2025 (−$8.4M).

Over the twelve months to Jun 30, 2026, operating cash flow was −$27.1M; the largest uses were operating cash flow ($27.1M), capital spending ($465K); besides operations, cash came from other financing ($46.3M), shares issued ($373K); the cash balance rose by $19.2M.

Operating cash flow was −$7.3M against net income of −$9.3M. The largest differences: payables −$2.1M, stock-based pay +$903K, accrued liabilities +$770K.

Its cash conversion cycle was 239 days (receivables 93 + inventory 310 − payables 165).

Free cash flow

Hyperfine: free cash flow by quarterHyperfine: free cash flow by quarter−$8.7MQ3 2024−$8.4MQ4 2024−$9.7MQ1 2025−$8.4MQ2 2025−$5.7MQ3 2025−$5.3MQ4 2025−$9.2MQ1 2026−$7.3MQ2 2026
Operating cash flow less capital spending.
Hyperfine: operating cash flow against capital spendingHyperfine: operating cash flow against capital spendingOperating cash flowCapital spending−$8.5M$159KQ3 2024−$8.4M$8KQ4 2024−$9.2M$472KQ1 2025−$7.9M$520KQ2 2025−$5.6M$130KQ3 2025−$5.2M$63KQ4 2025−$9.0M$242KQ1 2026−$7.3M$30KQ2 2026
Latest (Q2 2026): Operating cash flow −$7.3M, Capital spending $30K.

Capital allocation, year by year

Hyperfine: where the cash came from (up) and went (down), by fiscal yearHyperfine: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedCapital spendingFY2021: Operating cash flow −$47.2MFY2021: Net borrowing −$178KFY2021: Shares issued $1.5MFY2021: Capital spending −$2.7M$1.5MFY2021FY2022: Operating cash flow −$72.3MFY2022: Shares issued $7KFY2022: Capital spending −$585K$7KFY2022FY2023: Operating cash flow −$41.8MFY2023: Shares issued $174KFY2023: Capital spending −$804K$174KFY2023FY2024: Operating cash flow −$38.8MFY2024: Shares issued $171KFY2024: Capital spending −$383K$171KFY2024FY2025: Operating cash flow −$27.9MFY2025: Shares issued $156KFY2025: Capital spending −$1.2M$156KFY2025
Over these 5 years operating cash flow totalled −$228M; the largest uses were operating cash flow ($228M) and capital spending ($5.7M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$43.5M
Debt$13.2M
Net cash$30.2M
Cash runway19 months

Hyperfine is burning cash: its operations consume cash, a free cash flow of −$27.5M a year at the current rate against $43.5M of cash and investments: a runway of about 19 months before any new financing.

Where the cash came from and went

Hyperfine: sources (+) and uses (−) of cash, Q2 2026Hyperfine: sources (+) and uses (−) of cash, Q2 2026Other financing$10.6MOperating cash flow−$7.3MCash drawn (+) / kept (−)−$3.5MShares issued$212KCapital spending−$30K
Hyperfine: sources (+) and uses (−) of cash, TTM to Q2 2026Hyperfine: sources (+) and uses (−) of cash, TTM to Q2 2026Other financing$46.3MOperating cash flow−$27.1MCash drawn (+) / kept (−)−$19.2MCapital spending−$465KShares issued$373K

From profit to cash

Hyperfine: net income to operating cash flow, Q2 2026Hyperfine: net income to operating cash flow, Q2 2026Net income−$9.3MDepreciation & amortization$264KStock-based pay$903KGains on disposals$1KReceivables−$426KInventory−$489KPayables−$2.1MAccrued liabilities$770KDeferred revenue$205KPrepaid and other assets$732KOperating cash flow−$7.3M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.
QuarterReceivable daysInventory daysPayable daysCash conversion cycle
Q2 202693310165239
Q1 2026104314201217
Q4 202588229137180
Q3 2025133310193250
Q2 2025175317175316
Q1 2025238376140473
Q4 202425339693556
Q3 202415438597442

Every quarter

QuarterOperating cash flowCapital spendingNet borrowing (+) / repaid (−)Shares issuedCash drawn (+) / kept (−)Free cash flow
Q2 2026−$7.3M−$30K—$212K−$3.5M−$7.3M
Q1 2026−$9.0M−$242K$13.6M$42K−$5.2M−$9.2M
Q4 2025−$5.2M−$63K—$26K−$14.0M−$5.3M
Q3 2025−$5.6M−$130K—$93K$3.5M−$5.7M
Q2 2025−$7.9M−$520K—$4K$8.0M−$8.4M
Q1 2025−$9.2M−$472K—$33K$4.1M−$9.7M
Q4 2024−$8.4M−$8K—$11K$8.3M−$8.4M
Q3 2024−$8.5M−$159K—$46K$7.8M−$8.7M

Hyperfine: income statement and cash flow

Hyperfine, Q2 2026: revenue $3.9M (+45% year over year), operating margin -216.9%. The chart follows the revenue to costs, profit and cash.

Hyperfine: every quarter, Q/Q and Y/Y → Open in the app

Read automatically from the company’s XBRL cash-flow statements; quarterly figures for the fourth quarter are the year less the first three. Errors are possible. Not investment advice.