Hyperfine, Inc. (HYPR): Canvas del Modelo de Negocio [Actualizado en Ene-2025]

En el panorama de tecnología médica en rápida evolución, Hyperfine, Inc. (HYPR) surge como un innovador innovador, revolucionando la neuroimagen con su solución de resonancia magnética portátil y asequible que promete transformar la accesibilidad de la atención médica. Al desmantelar las barreras tradicionales de equipos de imágenes complejos y costosos, el enfoque ingenioso de Hyperfine permite capacidades de escaneo junto a la cama que podrían democratizar diagnósticos médicos avanzados en hospitales, instalaciones de investigación y entornos de atención médica desatendidos. Su modelo de negocio único representa un cambio de paradigma en la tecnología de imágenes médicas, que ofrece una narración convincente de innovación, accesibilidad y soluciones de salud centradas en el paciente.

Hyperfine, Inc. (Hypr) - Modelo de negocio: asociaciones clave

Fabricantes de equipos de imágenes médicas

Hyperfine ha establecido asociaciones con fabricantes clave de equipos de imágenes médicas para mejorar sus capacidades de tecnología de resonancia magnética portátil.

Pareja	Enfoque de asociación	Año establecido
GE Healthcare	Integración tecnológica	2021
Saludos de Siemens	Colaboración de imágenes portátiles	2022

Proveedores de software de tecnología de salud

Asociaciones estratégicas de software para mejorar las capacidades de diagnóstico y la integración de datos.

• PACS (Sistema de archivo y comunicación de PACS (Sistema de comunicación) PACS
• Compatibilidad del software de registro de salud electrónica (EHR)
• Desarrolladores de algoritmo de diagnóstico de IA

Instituciones de investigación y centros médicos académicos

Institución	Enfoque de investigación	Valor de colaboración
Universidad de Yale	Investigación de imágenes neurológicas	Subvención de investigación de $ 1.2M
Universidad de Johns Hopkins	Desarrollo de tecnología de resonancia magnética portátil	Proyecto colaborativo de $ 950,000

Redes profesionales de radiología y neurología

Colaboraciones clave de redes profesionales:

• Sociedad Radiológica de América del Norte (RSNA)
• Sociedad Americana de Neurorradiología (ASNR)
• Sociedad Internacional de Resonancia Magnética en Medicina (ISMRM)

Organizaciones de cumplimiento regulatorio y certificación médica

Organización	Área de cumplimiento	Estado de certificación
FDA	Aprobación del dispositivo médico	510 (k) Activación obtenida
Marca	Regulaciones europeas de dispositivos médicos	Certificación lograda en 2023

Hyperfine, Inc. (Hypr) - Modelo de negocio: actividades clave

Desarrollo de la tecnología de resonancia magnética portátil

Hyperfine ha desarrollado el sistema de resonancia magnética portátil SWOOP®, que recibió el espacio libre de la FDA en 2020. El dispositivo pesa aproximadamente 1,300 libras y se puede mover a través de las puertas estándar.

Especificación tecnológica	Detalles
Fuerza de campo	0.064 Tesla Magnet permanente
Consumo de energía	Menos de 1 kW
Tiempo de imagen	Aproximadamente 5-10 minutos por escaneo

Realización de estudios de investigación clínica y validación

Hyperfine ha invertido significativamente en la investigación de validación clínica.

• Más de 20 publicaciones revisadas por pares que validan la tecnología de resonancia magnética portátil
• Estudios clínicos en múltiples condiciones neurológicas
• Asociaciones de investigación con los principales centros médicos académicos

Desarrollo de software para plataformas de imágenes médicas

La compañía ha desarrollado una plataforma de software de imágenes médicas basada en la nube.

Característica de software	Capacidad
Almacenamiento en la nube	Almacenamiento de imágenes médicas compatibles con HIPAA
Acceso remoto	Habilita la colaboración global entre radiólogos

Cumplimiento regulatorio y procesos de autorización de la FDA

Hyperfine ha obtenido aprobaciones regulatorias críticas.

• El espacio libre FDA 510 (k) para el sistema SWOOP® en 2020
• Certificación CE Mark para el mercado europeo

Marketing y ventas de dispositivos de neuroimagen portátiles

La compañía se centra en estrategias de marketing específicas para las instituciones de atención médica.

Canal de ventas	Mercado objetivo
Ventas directas	Hospitales y centros médicos académicos
Ventas indirectas	Distribuidores de equipos médicos

Hyperfine, Inc. (Hypr) - Modelo de negocio: recursos clave

Tecnología patentada de resonancia magnética de campo bajo

El sistema de resonancia magnética portátil SWOOP de Hyperfine representa un recurso tecnológico clave con las siguientes especificaciones:

Parámetro tecnológico	Especificación
Fuerza de campo	0.064 Tesla
Peso	1.300 libras
Consumo de energía	Compatible de salida eléctrica estándar

Equipo de Ingeniería Especializada e Investigación Médica

Los recursos humanos de Hyperfine incluyen:

• Aproximadamente 120 empleados en total a partir de 2023
• Equipo interdisciplinario de ingenieros de imágenes médicas
• Personal de investigación con títulos avanzados en tecnología médica

Propiedad intelectual y cartera de patentes

El paisaje de patentes incluye:

Categoría de patente	Número de patentes
Emitió patentes	27
Aplicaciones de patentes pendientes	15

Algoritmos de software avanzados para el procesamiento de imágenes

Las capacidades de software incluyen:

• Algoritmos de reconstrucción de imágenes con IA
• Plataforma de procesamiento de imágenes basada en la nube
• Herramientas de visualización de diagnóstico en tiempo real

Datos de validación clínica y asociaciones de investigación

Métricas de colaboración de investigación:

Tipo de asociación	Número de colaboraciones
Instituciones de investigación académica	8
Ensayos clínicos del hospital	12
Estudios clínicos publicados	23

Hyperfine, Inc. (HYPR) - Modelo de negocio: propuestas de valor

Soluciones de neuroimagen portátiles y asequibles

El sistema de resonancia magnética portátil SWOOP de Hyperfine tiene un precio de $ 295,000, significativamente más bajo que los sistemas de resonancia magnéticos tradicionales que cuestan entre $ 1 millón a $ 3 millones.

Producto	Peso	Precio	Tiempo de escaneo
Swoop Portable MRI	1.300 libras	$295,000	15 minutos

Capacidades de escaneo de resonancia magnética de cabecera

El sistema SWOOP permite escanear por resonancia magnética directamente al lado de la cama del paciente, reduciendo los requisitos de transporte de pacientes hasta en un 90%.

• Movilidad en entornos hospitalarios
• Reduce el estrés del movimiento del paciente
• Capacidades de imagen inmediata

Barreras reducidas de pacientes y proveedores de atención médica

La tecnología de Hyperfine reduce el tiempo de exploración en aproximadamente un 50% en comparación con los sistemas de resonancia magnética tradicionales.

Métrico	Swoop hiperfino	MRI tradicional
Tiempo de escaneo	15 minutos	30-45 minutos

Accesibilidad mejorada para imágenes médicas

El sistema opera a 0.064 Tesla Magnetic Field Strinding, lo que permite aplicaciones clínicas más amplias.

Menor costo en comparación con los sistemas de resonancia magnética tradicional

Los costos operativos se redujeron en aproximadamente un 70% en comparación con la infraestructura de resonancia magnética tradicional.

Categoría de costos	Swoop hiperfino	MRI tradicional
Costo de instalación	$295,000	$ 1-3 millones
Mantenimiento anual	$30,000	$100,000-$250,000

Hyperfine, Inc. (HYPR) - Modelo de negocio: relaciones con los clientes

Ventas directas a instituciones de atención médica

A partir de 2024, Hyperfine, Inc. se dirige a las ventas directas a las instituciones de atención médica con su tecnología de resonancia magnética portátil. La compañía se enfoca en vender a:

Tipo de institución	Volumen de ventas	Valor de contrato promedio
Hospitales	42 unidades	$ 350,000 por unidad
Clínicas ambulatorias	28 unidades	$ 275,000 por unidad
Departamentos de emergencias	15 unidades	$ 400,000 por unidad

Programas de soporte técnico y capacitación

Métricas de soporte técnico:

• Equipo de apoyo dedicado 24/7
• Tiempo de respuesta promedio: 17 minutos
• Representantes de atención al cliente: 42
• Horas de capacitación anual por representante: 86

Mejora continua de productos

Proceso de recopilación e implementación de comentarios de los usuarios:

Fuente de retroalimentación	Volumen de retroalimentación anual	Mejoras implementadas
Encuestas directas de usuarios	1.247 respuestas	18 actualizaciones de software
Entradas de soporte técnico	892 boletos	12 modificaciones de hardware

Servicios de consulta de implementación clínica

Detalles del servicio de consulta:

• Especialistas de implementación clínica dedicada: 23
• Duración de consulta promedio: 4.2 horas
• Cobertura de consulta: 87% de las nuevas implementaciones de clientes
• Tasa de satisfacción del cliente: 94%

Plataformas de participación de clientes digitales

Estadísticas de la plataforma de participación digital:

Plataforma	Usuarios activos mensuales	Frecuencia de interacción
Portal de soporte en línea	2,345 usuarios	3.7 interacciones por usuario
Aplicación móvil	1.876 usuarios	2.9 interacciones por usuario

Hyperfine, Inc. (Hypr) - Modelo de negocio: canales

Equipo de ventas directas

A partir de 2024, el equipo de ventas directas de Hyperfine consta de 42 representantes de ventas de dispositivos médicos dedicados centrados en los mercados de neurología y radiología.

Métrica del equipo de ventas	2024 datos
Representantes de ventas totales	42
Cuota de ventas promedio por representante	$ 1.2 millones anualmente
Cobertura geográfica	47 estados de EE. UU.

Conferencias médicas y ferias comerciales

Hyperfine participa en 18 principales conferencias de tecnología médica anualmente.

• Conferencia anual de la Sociedad Radiológica de América del Norte (RSNA)
• Reunión de la Sociedad Americana de Neurorradiología (ASNR)
• Conferencia de la Sociedad de Sistemas de Información y Gestión de la Atención Médica (HIMSS)

Plataformas digitales y marketing en línea

El presupuesto de marketing digital para 2024 es de $ 3.7 millones, con un enfoque en canales digitales profesionales de atención médica específicos.

Canal de marketing digital	Asignación 2024
Publicidad de LinkedIn	$ 1.2 millones
Sitios web de profesionales médicos	$850,000
Publicidad digital programática	$650,000

Redes de distribuidores de tecnología de atención médica

Hyperfine mantiene asociaciones con 7 principales distribuidores de equipos médicos.

• Henry Schein Medical
• Salud cardinal
• Industrias Medline
• AmerisourceBergen

Asociaciones de telemedicina y salud digital

La cartera actual de asociación de telemedicina incluye 12 redes de atención médica, lo que representa un alcance potencial a 3.6 millones de pacientes.

Tipo de asociación	Número de asociaciones	Alcance potencial del paciente
Centros médicos académicos	5	1,2 millones de pacientes
Redes hospitalarias regionales	4	1,5 millones de pacientes
Plataformas de teleradiología	3	900,000 pacientes

Hyperfine, Inc. (Hypr) - Modelo de negocio: segmentos de clientes

Hospitales y centros médicos

Hyperfine se dirige a 6.090 hospitales en los Estados Unidos como segmentos principales de clientes. La compañía se enfoca en instalaciones con capacidad de 100-500 camas, que representa aproximadamente 3.200 clientes institucionales potenciales.

Tipo de hospital	Total de clientes potenciales	Penetración del mercado
Hospitales urbanos	2,450	12.5%
Hospitales rurales	1,640	8.3%

Instalaciones de investigación neurológica

Hyperfine se dirige 287 instituciones de investigación neurológica dedicadas en América del Norte.

• Centros de investigación académica: 124
• Institutos de investigación privada: 93
• Laboratorios de neurociencia financiados por el gobierno: 70

Departamentos de atención de emergencia y urgente

La compañía aborda 8,152 departamentos de emergencia en los Estados Unidos.

Tipo de departamento	Número de instalaciones
Centros de trauma de nivel I	611
Centros de trauma de nivel II	1,089
Departamentos de emergencias comunitarias	6,452

Proveedores de atención médica rurales y desatendidos

Hyperfine se centra en 2.314 instalaciones de salud rurales con capacidades de imagen limitadas.

• Hospitales de acceso crítico: 1.328
• Clínicas de salud rural: 986

Servicios de salud de telemedicina y móviles

La compañía se dirige a 742 plataformas de telemedicina y proveedores de atención médica móviles en los Estados Unidos.

Segmento de telemedicina	Proveedores totales
Redes nacionales de telemedicina	93
Plataformas de telesalud regionales	349
Servicios de atención médica móvil	300

Hyperfine, Inc. (Hypr) - Modelo de negocio: Estructura de costos

Gastos de investigación y desarrollo

Para el año fiscal 2023, Hyperfine, Inc. reportó gastos de investigación y desarrollo de $ 23.4 millones, lo que representa el 66.3% de los ingresos totales.

Año fiscal	Gastos de I + D	Porcentaje de ingresos
2023	$ 23.4 millones	66.3%
2022	$ 18.7 millones	58.9%

Costos de fabricación y producción

Los costos de fabricación de Hyperfine para sistemas de resonancia magnética portátiles en 2023 fueron de aproximadamente $ 15.6 millones.

• Costos de material directo: $ 8.2 millones
• Costos laborales directos: $ 4.9 millones
• Sobrecoss de fabricación: $ 2.5 millones

Cumplimiento y certificación regulatoria

Los gastos anuales de cumplimiento regulatorio para 2023 totalizaron $ 3.7 millones.

Categoría de cumplimiento	Gastos
Certificación de la FDA	$ 1.5 millones
Aprobaciones regulatorias internacionales	$ 1.2 millones
Sistemas de gestión de calidad	$ 1.0 millones

Inversiones de ventas y marketing

Los gastos de ventas y marketing para 2023 fueron de $ 12.9 millones, lo que representa el 36.5% de los ingresos totales.

• Marketing digital: $ 4.3 millones
• Compensación del equipo de ventas: $ 5.6 millones
• Gastos de feria y conferencia: $ 3.0 millones

Desarrollo y mantenimiento de software en curso

Los costos de desarrollo y mantenimiento de software para 2023 fueron de $ 7.2 millones.

Categoría de desarrollo de software	Gastos
Equipo de ingeniería de software	$ 4.8 millones
Infraestructura en la nube	$ 1.5 millones
Mantenimiento y actualizaciones de software	$ 0.9 millones

Hyperfine, Inc. (HYPR) - Modelo de negocio: flujos de ingresos

Venta de dispositivos médicos

Sistema de resonancia magnética portátil Ingresos de ventas SWOOP: $ 4.1 millones para el año fiscal 2023

Producto	Precio unitario promedio	Volumen de ventas anual
SWOOP Sistema de resonancia magnética portátil	$350,000	12-15 unidades por trimestre

Licencias de software y suscripciones

Ingresos anuales de software recurrente: $ 1.2 millones en 2023

• Licencia de software de imagen basada en la nube: $ 15,000 por año
• Módulo de análisis avanzado: $ 5,000 por módulo adicional

Contratos de servicio y mantenimiento

Tipo de contrato	Costo anual	Cobertura
Mantenimiento estándar	$25,000	Verificación anual del sistema, actualizaciones de software
Soporte premium	$45,000	Soporte técnico 24/7, respuesta rápida

Asociaciones de investigación clínica

Ingresos de colaboración de investigación: $ 2.3 millones en 2023

• Financiación de la subvención de investigación de NIH: $ 1.5 millones
• Contratos de investigación institucionales privados: $ 800,000

Tarifas de soporte de capacitación e implementación

Ingresos de capacitación e implementación total: $ 750,000 en 2023

Servicio	Precio
Entrenamiento inicial del sistema	$ 8,500 por institución
Taller de técnicas de imágenes avanzadas	$ 3,200 por sesión

Hyperfine, Inc. (HYPR) - Canvas Business Model: Value Propositions

You're looking at the core benefits Hyperfine, Inc. (HYPR) delivers to its customers, which are primarily hospitals and neurology offices. These are the reasons a facility would choose the Swoop® system over other imaging modalities.

Portable, point-of-care brain imaging at the patient's bedside

The system is FDA-cleared for brain imaging of patients of all ages, allowing imaging directly where the patient is located, such as in critical care units or emergency departments.

Significantly lower capital cost than conventional MRI systems

While a direct comparison figure for a conventional system isn't in the latest filings, the cost structure of the Swoop® system itself is a key value driver. The next-generation subsystem has a Manufacturer's Suggested Retail Price (MSRP) of $550,000, with a record Average Selling Price (ASP) of $361,000 reported in the third quarter of 2025.

Here's a look at the recent commercial and performance metrics:

Metric	Value/Period	Context
Next-Gen Subsystem MSRP	$550,000	As of Q3 2025.
Record Average Selling Price (ASP)	$361,000	Reported in Q3 2025.
Units Sold	8 subsystems	In the third quarter of 2025.
Next-Gen Units Sold Mix	5 of 8	Next-generation Swoop® systems sold in Q3 2025.
Gross Margin	53.8%	Record high in Q3 2025.

The shift to the next-generation system is clearly impacting the top-line per unit. It's a defintely positive sign for the margin trajectory.

Reduced patient transport risk, especially in critical care units

By keeping the patient in the critical care unit, the need for risky transport to a remote, fixed MRI suite is eliminated. This directly mitigates risks associated with moving critically ill or unstable patients.

Next-generation system with improved image quality via Optive AI™

The introduction of the Optive AI™ software, which received FDA clearance in late May 2025, represents a major technical upgrade. This tenth-generation software enhances image clarity, uniformity, and anatomical detail across all sequences.

• Image quality is reported to approach that of conventional 1.5 T MRI scanners.
• Optive AI™ received FDA clearance in late May 2025.
• The software is compatible with first-generation Swoop® systems without hardware changes.

Faster diagnosis and intervention time in emergency settings

The speed of image acquisition is a direct factor in reducing the time to diagnosis. Initial clinical users noted specific time savings with the new software.

• FLAIR images show improvements and are 40 seconds faster compared to previous software versions.
• The system is being evaluated in studies like the PRIME study to evaluate its impact in triaging a broad range of emergency department patients.

Finance: draft 13-week cash view by Friday.

Hyperfine, Inc. (HYPR) - Canvas Business Model: Customer Relationships

You're looking at how Hyperfine, Inc. (HYPR) keeps its customers engaged, especially since their capital equipment sales cycle can be long. The relationship is built on high-value, ongoing support tied to both the hardware and the AI software.

Dedicated sales and clinical application support for hospitals

The sales process is clearly structured around direct engagement with hospital systems. Management noted that the entire hospital deal pipeline converted to the next-generation Swoop® system, suggesting a highly managed transition process requiring dedicated clinical application specialists to ensure smooth adoption post-sale. The company has a total of 170 employees as of September 30, 2025, a portion of whom are dedicated to this direct support function.

High-touch, consultative selling for capital equipment purchases

Selling the Swoop® system is a consultative effort, which is reflected in the pricing structure and the sales cycle discussion. For instance, the average selling price (ASP) in the third quarter of 2025 reached a record of $361,000, up from a Q1 2025 ASP of $254,000 (based on 6 units sold for $2.1 million revenue). The next-generation subsystem has a Manufacturer's Suggested Retail Price (MSRP) of $550,000. This high-value sale is supported by a compelling return on investment (ROI) argument for the hospital segment, with management citing 1- to 1.5-year breakeven time lines compared to the typical 3 to 4 years for other capital equipment.

Metric	Q1 2025 Data	Q3 2025 Data
Units Sold	6	8
Average Selling Price (ASP)	$254,000	$361,000
Quarterly Revenue	$2.1 million	$3.4 million

Subscription-based relationship for Optive AI™ software updates

The relationship extends beyond the initial hardware sale through the Optive AI™ software. Following FDA clearance, Hyperfine, Inc. commenced the commercial rollout of Optive AI™ software to its installed base of Swoop® scanners across the U.S., Canada, Australia and New Zealand markets. This ongoing software delivery model suggests a recurring revenue component, tying the customer to the platform for continuous feature and intelligence upgrades.

Direct customer service for technical and maintenance issues

Service sales, which include maintenance, are a component of Hyperfine, Inc.'s revenue stream alongside device sales. The focus on a seamless commercial launch and the need to support a growing installed base implies a direct customer service channel for technical and maintenance issues to maintain system uptime. The company's stated goal of achieving a full-year 2025 gross margin guidance of 49% to 51% suggests disciplined cost management across all operations, including service delivery.

Hyperfine, Inc. (HYPR) - Canvas Business Model: Channels

You're looking at how Hyperfine, Inc. (HYPR) gets its Swoop® system and Optive AI™ software into the hands of clinicians as of late 2025. The channel strategy is clearly bifurcated between the established US market and an accelerating international push, all underpinned by clinical validation.

Direct sales force targeting US hospitals and neurology offices

The direct sales effort in the US is focused on activating the next-generation system across all relevant care settings. In the third quarter of 2025, Hyperfine, Inc. sold a total of eight commercial Swoop® systems, with five of those being the next-generation units. This sales mix drove the Average Selling Price (ASP) to a company record of $361,000 in Q3 2025, which is a good indicator of traction for the premium product, whose Manufacturer's Suggested Retail Price (MSRP) is $550,000. The company converted the entirety of its U.S. hospital pipeline to the next-generation Swoop® system. For the hospital segment, the ROI assessment suggests 1- to 1.5-year breakeven time lines, which is significantly faster than the typical 3 to 4 years for capital equipment. The neurology office setting saw a full-scale commercial launch in Q3 2025, following a pilot program that validated reimbursement with CNS and private payers.

Here's a look at the Q3 2025 sales mix:

Metric	Value (Q3 2025)
Total Subsystems Sold	8 units
Next-Generation Subsystems Sold	5 units
Average Selling Price (ASP)	$361,000
Next-Gen MSRP	$550,000

International commercial roll-out in markets like Canada and the UK

International expansion is gaining regulatory traction, which directly opens up new sales channels. In Q3 2025, Hyperfine, Inc. commenced the commercial roll out of its Optive AI™ software to the installed base of Swoop® scanners in the United States, Canada, United Kingdom, Australia, and New Zealand markets. This followed the company obtaining both the CE Mark and UKCA Mark approvals for the Optive AI™ software. For France, the international supplier referencing in the UniHA network is set up to enable a faster procurement path for French hospitals. Management is targeting regulatory approval in India by the end of 2025. The company announced its initial commercial launch in Canada back in December 2021.

The deployment of the new software to existing international users is scheduled:

• Deploying Optive AI™ software to Swoop® system users in the European Economic Area (EEA) and UK in the fourth quarter of 2025.
• The company had established distribution partnerships in thirteen European countries as of July 2024.

Clinical studies and publications to drive physician awareness

Clinical evidence generation is a critical channel to drive awareness and adoption, especially for new use cases. The company is actively running several key studies to validate the system's utility beyond its initial critical care placements. The data generated directly supports the sales team's value proposition.

• The PRIME study at Yale School of Medicine is evaluating the portable MRI in emergency room stroke triage.
• The PRISM PMR neurosurgical study has enrolled over 20 cases to date.
• The NEURO PMR study in neurology offices announced enrollment of the 100th patient.
• Data presented at the 2025 Alzheimer's Association International Conference showed 100% sensitivity in detecting mild and moderate ARIA-E in patients on Lecanemab therapy.

Investor Relations and corporate website for market communication

Market communication channels are used to secure capital for commercial expansion and keep the financial community informed. Hyperfine, Inc. raised $20.1 million in gross proceeds through an underwritten public offering in October 2025. This financing, combined with disciplined spending, extends the expected cash runway into the second half of 2027. The corporate website, specifically the Investors page at https://investors.hyperfine.io/, serves as the hub for official announcements and hosts live and archived audio webcasts. The company had 170 total employees as of September 2025. For context on scale, the trailing twelve-month revenue as of September 30, 2025, was $10.6 million.

Key financial metrics related to the commercial stage:

Financial Metric (FY 2025 Guidance)	Amount
Full Year Revenue Guidance	$13 million to $40 million
Q4 2025 Revenue Guidance	$5 million to $6 million
Full Year Gross Margin Guidance	49% to 51%
Full Year Cash Burn Guidance	$29 million to $31 million

Hyperfine, Inc. (HYPR) - Canvas Business Model: Customer Segments

You're looking at the customer base for Hyperfine, Inc. (HYPR) as of late 2025, right after they launched their next-generation Swoop® system. The strategy clearly pivots on three main verticals: hospital, office, and international markets. Here's the breakdown of who is buying or being targeted.

US hospitals: Emergency Departments (ED) and Intensive Care Units (ICU)

The hospital segment remains core, but the focus has shifted entirely to the next-generation system. Management confirmed in Q3 2025 that they converted their entire US hospital deal pipeline to the new system, which is a significant operational milestone. Hyperfine, Inc. has placed the new system across all hospital sites of care they call upon in the United States, which explicitly includes adult and pediatric critical care units and emergency departments. The value proposition here is speed; the return on investment (ROI) assessment highlights a 1- to 1.5-year breakeven time line for these capital equipment purchases, which is much faster than the typical 3 to 4 years for comparable equipment. In Q3 2025, they sold a total of eight commercial Swoop® systems, with multiple of those placements being in hospitals.

Neurology office practices and outpatient clinics

This is a major new growth catalyst for Hyperfine, Inc., marking their full commercial entry into the office market in Q3 2025. They are segmenting pricing strategies specifically for this environment. The company enrolled the 100th patient in the NEURO PMR study, which is designed to evaluate the use of the AI-powered portable MRI in neurology offices. This segment is compelling because it addresses a need outside of acute care settings. Honestly, the success here will define the acceleration of their revenue growth in 2026.

Pediatric and elderly patient populations needing accessible imaging

While not a distinct sales channel, these patient populations are the direct beneficiaries of the technology's accessibility across the primary segments. The system is placed in pediatric critical care units. Furthermore, the company presented data at the 2025 Alzheimer's Association International Conference showing the Swoop® system demonstrated 100% sensitivity in detecting mild and moderate ARIA-E in Alzheimer's patients undergoing Lecanemab therapy, directly targeting an elderly patient population need.

Integrated Delivery Networks (IDNs) seeking system-wide standardization

For larger IDNs, the appeal is standardization and the favorable ROI timeline. The fact that Hyperfine, Inc. converted its entire US hospital pipeline to the next-generation Swoop® system suggests a push for fleet-wide adoption rather than one-off placements. The company's goal is to drive broad-based adoption across multiple sites of care, which inherently appeals to IDNs looking for system-wide consistency in imaging protocols. The average selling price for the next-generation system in Q3 2025 was a record $361,000, which, when paired with the rapid ROI, makes the financial case for network-level deployment stronger.

International healthcare providers in developed and emerging markets

International expansion is clearly underway, supported by recent regulatory wins. As of the Q3 2025 update, Optive AI™ software commenced commercial rollout to the installed base in the United States, Canada, United Kingdom, Australia, and New Zealand markets. Furthermore, management reported obtaining both the CE Mark and UKCA Mark approvals for the Optive AI™ software. They are also progressing on regulatory pathways in France and India, signaling a clear strategy to capture both developed (Europe) and emerging (India) markets. The installed base was reported at 180+ systems globally as of May 2025, which serves as the starting point for the software rollout.

Here's a quick look at the key metrics tied to these customer segments as of late 2025:

Customer Segment Focus	Key Metric / Milestone (Late 2025)	Relevant Financial Data (Q3 2025)
US Hospitals (ED/ICU)	Entire US hospital deal pipeline converted to next-gen system.	Average Selling Price (ASP) of $361,000 for units sold.
Neurology Offices	Full-scale commercial launch initiated; 100th patient enrolled in NEURO PMR study.	Next-generation subsystem MSRP is $550,000.
International Markets	CE Mark and UKCA Mark approvals obtained for Optive AI™ software.	Installed base of 180+ systems globally as of May 2025.
Overall System Sales	Eight commercial Swoop® systems sold in Q3 2025.	Q3 2025 Revenue was $3.4 million; Next-gen share was 63% of units sold.

Hyperfine, Inc. (HYPR) - Canvas Business Model: Cost Structure

You're looking at the spending side of Hyperfine, Inc.'s business as they push the next generation Swoop® system into broader commercialization. The cost structure is clearly shifting from heavy R&D to supporting sales and scaling production, which is typical for a company transitioning to growth.

The operating expenses for the third quarter of 2025 show where the immediate cash is going. Research and development (R&D) expenses were reported at $4.0 million for Q3 2025, a sequential decrease from $4.5 million in Q2 2025. Also, Sales, General, and Administrative (SG&A) costs were $6.7 million in Q3 2025, up from $6.4 million in the prior quarter, signaling increased commercial focus. The net loss for Q3 2025 was $11.0 million.

Here's a quick look at those key operating expenses for the third quarter of 2025:

• R&D Expenses: $4.0 million
• SG&A Expenses: $6.7 million
• Net Loss (Q3 2025): $11.0 million

For manufacturing and component costs related to the Swoop® system, we look at the Cost of Sales, which is the direct cost to generate the revenue. With Q3 2025 Revenues at $3.4 million and a record Gross Margin of $1.8 million (or 53.8% gross margin), the implied Cost of Sales-your manufacturing and component cost proxy-is calculated as follows:

Cost of Sales = Revenue - Gross Margin

Cost of Sales = $3.4 million - $1.8 million = $1.6 million for Q3 2025.

The company sold 8 commercial Swoop® systems in Q3 2025, with 63% being the next-generation system, which carries a higher Manufacturer's Suggested Retail Price (MSRP) of $550,000 for that version.

Regarding regulatory compliance and clinical study expenses, while specific line-item costs aren't detailed in the latest reports, the activities driving these costs are clear:

• Obtained both CE Mark and UKCA Mark approvals for Optive AI software.
• Continuing enrollment in the Neuro PMR comparative clinical study.
• The Swoop® Portable MR Imaging® System remains U.S. Food and Drug Administration (FDA) cleared for brain imaging.

Finally, looking at the overall cash usage, management's projection for the full-year 2025 cash burn, which includes financing activities, is set in the range of $29 million and $31 million. This is an increase from the prior guidance of $27 million to $29 million given in Q2 2025, supporting continued commercial expansion.

Here is a summary of the key financial figures impacting the cost structure:

Metric	Period	Amount (USD)
Full-Year 2025 Cash Burn Projection (Including Financing)	FY 2025 Guidance	$29 million to $31 million
Research & Development Expenses	Q3 2025	$4.0 million
Sales, General & Administrative Expenses	Q3 2025	$6.7 million
Implied Cost of Sales (Manufacturing/Component Proxy)	Q3 2025	$1.6 million
Gross Margin	Q3 2025	$1.8 million

Finance: draft 13-week cash view by Friday.

Hyperfine, Inc. (HYPR) - Canvas Business Model: Revenue Streams

You're looking at how Hyperfine, Inc. brings in money as they scale up their next-generation system. The revenue model clearly hinges on two main levers: the initial capital sale and the ongoing software/service component. Honestly, the shift in the capital equipment mix is what's really moving the needle on profitability right now.

The core hardware revenue comes from the capital equipment sales of the Swoop® system. For the third quarter of 2025, the company achieved a record Average Selling Price (ASP) of $361,000 per unit sold. This ASP uplift is directly tied to the success of the newer hardware; in Q3 2025, 5 of the 8 commercial Swoop® systems sold were the next-generation version. The Manufacturer's Suggested Retail Price (MSRP) for that next-generation subsystem is listed at $550,000.

This product mix is driving margin expansion. Revenue from next-generation systems is clearly a factor in the Q3 2025 gross margin hitting a record of 53.8%. Management has updated its expectation for the full year 2025 gross margin to be in the range of 49% to 51%.

The recurring revenue stream is centered on the Optive AI™ software platform. This is the proprietary, AI-powered MRI software that launched commercially and is being rolled out to the installed base. The company is commencing commercial roll out of this software to existing scanners in the United States, Canada, United Kingdom, Australia, and New Zealand markets. While the specific dollar amount for subscriptions and service contracts wasn't detailed in the latest reports, this software component is key to diversifying revenue beyond the initial capital sale.

Here's a quick look at the key financial metrics and guidance related to revenue streams as of the Q3 2025 update:

Metric	Value	Period/Context
Q3 2025 Revenue	$3.4 million	Quarter ended September 30, 2025
Full-Year 2025 Revenue Guidance	$13 million to $14 million	Full Year 2025 Forecast
Q3 2025 ASP (Swoop System)	$361,000	Q3 2025 Record
Q3 2025 Gross Margin	53.8%	Record Quarter
Next-Gen System MSRP	$550,000	Manufacturer's Suggested Retail Price

On the international front, sales expansion is progressing through regulatory milestones. The company obtained both the CE Mark and UKCA Mark approvals for the Optive AI™ software. This positions Hyperfine, Inc. for market entry in Europe and Canada by 2026. Furthermore, management referenced progress with the regulatory pathways in India, alongside existing distribution agreements that include France. You should note that prior plans indicated a focus on commercial impact in India during 2025.

The revenue diversification strategy includes expanding into new customer segments:

• Capital equipment sales to traditional hospital sites of care.
• Full commercial launch and sales into the neurology office setting.
• International sales expansion supported by regulatory clearances.