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US digital health company providing app-based physical therapy and musculoskeletal (MSK) care programs, mainly paid for by employers.
US digital health company providing app-based physical therapy and musculoskeletal (MSK) care programs, mainly paid for by employers.
Employers and health plans pay Hinge for their members' access, with fees tied partly to how many members actually take up the programme and to meeting savings targets, so Hinge shares the risk if it fails to cut medical costs. Members pay nothing because the employer funds access.
Moat: narrow (data, switching costs, customer qualification). Clinical outcomes data and employer benefit-plan integration create switching costs once adopted as a benefit.
Headquarters: San Francisco, California, US · Founded: 2014 · Employees: 143
Size Hinge Health (HNGE) is a United States Information Technology company (Packaged Software) with a market value of $9.34B, the 810th largest of 3,117 United States companies the cockpit tracks. Shares closed at $115.76 on 6 Nov 2026.
Performance Over six months the shares gained 106.6%, against +12.8% for the median peer and -1.1% for the United States market (cap-weighted) — highest of 21 in its peer set.
Growth Revenue grew 49.9% over the last twelve months (peer median +20.5%); the operating margin is 19.4% (peer median 11.2%).
Valuation It trades at 39.6× forward earnings against a peer median of 32.4× (8th most expensive of 19).
Price implies For today's price to make sense, revenue must grow about 34% a year for seven years (Req g). Recent delivered growth is +50%, so the hurdle is -16 pp: the price already allows for a slowdown.
Short interest Short interest is 10.1% of the free float (15 Oct 2026).
Next results Next results expected around 16 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | |
|---|---|---|---|---|
| Revenue | $801M | $588M | $390M | $293M |
| Revenue growth | — | +51% | +33% | — |
| Gross profit | $686M | $468M | $301M | $194M |
| EBITDA | $161M | -$536M | -$18.5M | -$125M |
| Net income | $166M | -$424M | -$11.9M | -$108M |
| Free cash flow | $306M | $165M | $45.2M | -$68.5M |
| Capital expenditure | $16.7M | $6.06M | $3.77M | $4.62M |
| Total debt | $33.9M | $8.04M | $11.1M | $15.7M |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Hinge Health HNGE | $9.34B | +107% | +50% | 19% | 39.6× | 34.1% |
| Omada Health OMDA | $924M | +2% | +48% | 0% | 37.1× | 28.7% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | HNGE | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +18.1% | -3.7% | 3rd highest of 21 |
| 6-month return | +106.6% | +12.8% | highest of 21 |
| Distance from 52-week high | -7.3% | -28.3% | 3rd highest of 21 |
| Revenue growth (TTM) | +49.9% | +20.5% | 2nd highest of 21 |
| Operating margin | 19.4% | 11.2% | 9th highest of 21 |
| Forward P/E | 39.6× | 32.4× | 8th most expensive of 19 |
| Growth the price implies (Req g, 7 yrs) | 34.1% | 18.8% | 4th most demanding of 20 |
| Growth delivered (Del g) | +49.9% | +23.1% | highest of 20 |
| Hurdle (Req g minus delivered) | -15.7 pp | -6.5 pp | 8th least demanding of 20 |
| EV / EBITDA | 56.5× | 18.4× | most expensive of 12 |
| Net debt / EBITDA | -1.6× | -0.3× | 3rd least indebted of 12 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Hinge Health HNGE | United States | $9.34B | +107% | +50% | 19% | 39.6× | 34.1% | +49.9% |
| Full Truck Alliance Co. Ltd. Sponsored ADR YMM | United States | $9.35B | +4% | +9% | 34% | 12.8× | -10.9% | +36.0% |
| Oracle Financial Services Software OFSS.NS | India | $9.43B | +8% | +28% | 52% | 22.7× | 22.0% | +9.0% |
| Elastic ESTC | United States | $9.12B | +65% | +16% | -1% | 24.4× | 13.0% | +23.4% |
| Paylocity PCTY | United States | $9.03B | +56% | +11% | 22% | 19.0× | 2.3% | +22.8% |
| HubSpot HUBS | United States | $10.0B | +2% | +21% | 4% | 12.5× | 25.1% | +28.8% |
| Figma FIG | United States | $10.0B | -9% | +43% | -124% | 54.8× | 22.2% | +43.4% |
| Netskope NTSK | United States | $8.70B | +83% | +30% | -94% | n/a | n/a | n/a |
| 360 Security Technology 601360.SS | China | $8.63B | -26% | +7% | -4% | 172.6× | 55.2% | -5.7% |
| DigitalOcean DOCN | United States | $8.55B | -56% | +28% | 12% | 44.7× | 41.6% | +23.1% |
| CSG Digital Power Grid Research Institute 301638.SZ | China | $8.52B | -37% | +18% | 10% | n/a | 18.0% | +8.2% |
| Wisetech Global WTC.AX | Australia | $10.3B | +15% | +71% | 31% | 32.6× | 30.1% | +32.3% |
| Nemetschek NEM.DE | Germany | $8.39B | +10% | +13% | 26% | 29.9× | 11.1% | +14.8% |
| Snap SNAP | United States | $8.39B | -18% | +13% | -5% | 32.3× | 2.7% | +18.8% |
| Xero XRO.AX | Australia | $8.36B | -13% | +27% | 13% | 66.7× | 25.9% | +25.3% |
| Paycom Software PAYC | United States | $10.5B | +73% | +9% | 30% | 15.9× | 3.3% | +19.5% |
| Descartes Systems DSG.TO | Canada | $8.10B | +32% | +12% | 33% | 37.9× | 4.4% | +16.8% |
| Gitlab GTLB | United States | $8.01B | +85% | +23% | -8% | 55.0× | 18.8% | +44.4% |
| SailPoint SAIL | United States | $11.0B | +57% | +20% | -19% | 53.5× | 42.0% | +24.7% |
| Capcom 9697.T | Japan | $11.0B | +25% | +21% | 41% | 27.0× | -2.2% | +15.4% |
| ServiceTitan TTAN | United States | $7.89B | +36% | +23% | -13% | 55.6× | 20.7% | +27.1% |