Hinge Health Q2 revenue jumps 53%, beats estimates
HNGE•Analyst view
The current average analyst rating on the shares is buy, with 15 strong buy or buy ratings, one hold, and no sell or strong sell ratings.
The average consensus recommendation for the software peer group is buy. Wall Street's median 12-month price target for Hinge Health Inc is $90.00, about 15.9% above its August 3 closing price of $77.65.
Quarterly results
Hinge Health said second-quarter revenue grew 53% year over year, beating analyst expectations. Non-GAAP diluted net income per share for the quarter also rose year over year.
| Metric | Beat/Miss | Actual | Consensus Estimate |
|---|---|---|---|
| Q2 Revenue | Beat | $212.82 mln | $201.03 mln (15 Analysts) |
| Q2 Net Income | $43.69 mln | ||
| Q2 Gross Profit | $183.95 mln | ||
| Q2 Income from Operations | $40.44 mln | ||
| Q2 Pretax Profit | $44.43 mln |
What drove the quarter
The company said the quarter’s outperformance was driven by continued high member conversion, improving member outcomes and lowering client costs, according to CEO Daniel Perez.
