Hyperfine, Inc. (HYPR): Modelo de negócios Canvas [Jan-2025 Atualizado]

No cenário em rápida evolução da tecnologia médica, a Hyperfine, Inc. (HYPR) surge como um inovador inovador, revolucionando a neuroimagem com sua solução de ressonância magnética portátil e acessível que promete transformar a acessibilidade à saúde. Ao desmantelar barreiras tradicionais de equipamentos de imagem complexos e caros, a abordagem engenhosa do Hyperfine permite recursos de digitalização à beira do leito que podem potencialmente democratizar diagnósticos médicos avançados em hospitais, instalações de pesquisa e ambientes de assistência médica mal atendidos. Seu modelo de negócios exclusivo representa uma mudança de paradigma na tecnologia de imagem médica, oferecendo uma narrativa atraente de inovação, acessibilidade e soluções de saúde centradas no paciente.

Hyperfine, Inc. (HYPR) - Modelo de negócios: parcerias -chave

Fabricantes de equipamentos de imagem médica

A Hyperfine estabeleceu parcerias com os principais fabricantes de equipamentos de imagem médica para aprimorar seus recursos portáteis de tecnologia de ressonância magnética.

Parceiro	Foco em parceria	Ano estabelecido
GE Healthcare	Integração de tecnologia	2021
Siemens Healthineers	Colaboração portátil de imagem	2022

Provedores de software de tecnologia de saúde

Parcerias de software estratégico para melhorar os recursos de diagnóstico e a integração de dados.

• PACS (Sistema de Integração de Arquivamento e Comunicação de Imagens)
• Compatibilidade de software de registro eletrônico de saúde (EHR)
• Desenvolvedores de algoritmo de diagnóstico de IA

Instituições de pesquisa e centros médicos acadêmicos

Instituição	Foco na pesquisa	Valor de colaboração
Universidade de Yale	Pesquisa em imagem neurológica	Grant de pesquisa de US $ 1,2 milhão
Universidade Johns Hopkins	Desenvolvimento de tecnologia portátil de ressonância magnética	Projeto colaborativo de US $ 950.000

Radiologia e neurologia Redes profissionais

Principais colaborações de rede profissional:

• Sociedade Radiológica da América do Norte (RSNA)
• Sociedade Americana de Neurorradiologia (ASNR)
• Sociedade Internacional de Ressonância Magnética em Medicina (ISMRM)

Organizações de conformidade regulatória e certificação médica

Organização	Área de conformidade	Status de certificação
FDA	Aprovação do dispositivo médico	510 (k) de folga obtida
Mark CE	Regulamentos de dispositivos médicos europeus	Certificação alcançada em 2023

Hyperfine, Inc. (HYPR) - Modelo de negócios: Atividades -chave

Desenvolvendo a tecnologia portátil de ressonância magnética

A Hyperfine desenvolveu o sistema de ressonância magnética portátil SWOOP®, que recebeu folga da FDA em 2020. O dispositivo pesa aproximadamente 1.300 libras e pode ser movido através de portas padrão.

Especificação de tecnologia	Detalhes
Força de campo	0,064 ímã permanente Tesla
Consumo de energia	Menos de 1 kW
Tempo de imagem	Aproximadamente 5 a 10 minutos por varredura

Realização de estudos de pesquisa e validação clínicos

A hiperfina investiu significativamente na pesquisa de validação clínica.

• Mais de 20 publicações revisadas por pares validando a tecnologia portátil de ressonância magnética
• Estudos clínicos em várias condições neurológicas
• Parcerias de pesquisa com grandes centros médicos acadêmicos

Desenvolvimento de software para plataformas de imagem médica

A empresa desenvolveu a plataforma de software de imagem médica baseada em nuvem.

Recurso de software	Capacidade
Armazenamento em nuvem	Armazenamento de imagem médica compatível com HIPAA
Acesso remoto	Ativa a colaboração global entre radiologistas

Processos de conformidade regulatória e de liberação da FDA

A hiperfina obteve aprovações regulatórias críticas.

• FDA 510 (k) de folga para o sistema SwooP® em 2020
• Certificação de marca CE para o mercado europeu

Marketing e vendas de dispositivos de neuroimagem portáteis

A empresa se concentra em estratégias de marketing direcionadas para instituições de saúde.

Canal de vendas	Mercado -alvo
Vendas diretas	Hospitais e centros médicos acadêmicos
Vendas indiretas	Distribuidores de equipamentos médicos

Hyperfine, Inc. (HYPR) - Modelo de negócios: Recursos -chave

Tecnologia de ressonância magnética de baixo campo de baixo campo

O sistema de ressonância magnética portátil da Hyperfine representa um recurso tecnológico essencial com as seguintes especificações:

Parâmetro de tecnologia	Especificação
Força de campo	0,064 Tesla
Peso	1.300 libras
Consumo de energia	Saída elétrica padrão compatível

Equipe especializada de engenharia e pesquisa médica

Os recursos humanos da Hyperfine incluem:

• Aproximadamente 120 funcionários totais a partir de 2023
• Equipe interdisciplinar de engenheiros de imagem médica
• Pessoal de pesquisa com diplomas avançados em tecnologia médica

Propriedade intelectual e portfólio de patentes

A paisagem de patentes inclui:

Categoria de patentes	Número de patentes
Emitiu patentes nos EUA	27
Aplicações de patentes pendentes	15

Algoritmos avançados de software para processamento de imagem

Os recursos de software incluem:

• Algoritmos de reconstrução de imagem movidos a IA
• Plataforma de processamento de imagem baseada em nuvem
• Ferramentas de visualização de diagnóstico em tempo real

Dados de validação clínica e parcerias de pesquisa

Métricas de colaboração de pesquisa:

Tipo de parceria	Número de colaborações
Instituições de pesquisa acadêmica	8
Ensaios clínicos hospitalares	12
Estudos clínicos publicados	23

Hyperfine, Inc. (HYPR) - Modelo de negócios: proposições de valor

Soluções de neuroimagem portáteis e acessíveis

O sistema de ressonância magnética portátil da Hyperfine tem um preço de US $ 295.000, significativamente menor que os sistemas de ressonância magnética tradicionais que custam entre US $ 1 milhão e US $ 3 milhões.

Produto	Peso	Preço	Hora da varredura
Swoop portátil ressonância magnética	1.300 lbs	$295,000	15 minutos

Capacidades de digitalização de ressonância magnética à beira do lado

O sistema SWOOP permite a digitalização de ressonância magnética diretamente ao lado do paciente, reduzindo os requisitos de transporte do paciente em até 90%.

• Mobilidade em ambientes hospitalares
• Reduz o estresse do movimento do paciente
• Capacidades de imagem imediatas

Barreiras reduzidas de pacientes e profissionais de saúde

A tecnologia da Hyperfine reduz o tempo de varredura em aproximadamente 50% em comparação com os sistemas tradicionais de ressonância magnética.

Métrica	Hyperfine Swoop	Ressonância magnética tradicional
Hora da varredura	15 minutos	30-45 minutos

Acessibilidade aprimorada para imagens médicas

O sistema opera a 0,064 Tesla Magnetic Field Strength, permitindo aplicações clínicas mais amplas.

Menor custo em comparação aos sistemas de ressonância magnética tradicionais

Os custos operacionais reduziram em aproximadamente 70% em comparação com a infraestrutura tradicional de ressonância magnética.

Categoria de custo	Hyperfine Swoop	Ressonância magnética tradicional
Custo de instalação	$295,000	US $ 1-3 milhões
Manutenção anual	$30,000	$100,000-$250,000

Hyperfine, Inc. (HYPR) - Modelo de negócios: relacionamentos com o cliente

Vendas diretas para instituições de saúde

A partir de 2024, a Hyperfine, Inc. tem como alvo vendas diretas para instituições de saúde com sua tecnologia portátil de ressonância magnética. A empresa se concentra em vender para:

Tipo de instituição	Volume de vendas	Valor médio do contrato
Hospitais	42 unidades	US $ 350.000 por unidade
Clínicas ambulatoriais	28 unidades	US $ 275.000 por unidade
Departamentos de emergência	15 unidades	US $ 400.000 por unidade

Programas de suporte técnico e treinamento

Métricas de suporte técnico:

• Equipe de suporte dedicada 24 horas por dia, 7 dias por semana
• Tempo médio de resposta: 17 minutos
• Representantes de suporte ao cliente: 42
• Horário de treinamento anual Per Representante: 86

Melhoria contínua do produto

Processo de coleta e implementação de feedback de usuários:

Fonte de feedback	Volume de feedback anual	Melhorias implementadas
Pesquisas diretas de usuário	1.247 respostas	18 atualizações de software
Tickets de suporte técnico	892 ingressos	12 modificações de hardware

Serviços de consulta de implementação clínica

Detalhes do serviço de consulta:

• Especialistas dedicados de implementação clínica: 23
• Duração média da consulta: 4,2 horas
• Cobertura de consulta: 87% das novas implantações de clientes
• Taxa de satisfação do cliente: 94%

Plataformas de engajamento de clientes digitais

Estatísticas da plataforma de engajamento digital:

Plataforma	Usuários ativos mensais	Frequência de interação
Portal de suporte on -line	2.345 usuários	3.7 Interações por usuário
Aplicativo móvel	1.876 usuários	2.9 Interações por usuário

Hyperfine, Inc. (HYPR) - Modelo de negócios: canais

Equipe de vendas diretas

A partir de 2024, a equipe de vendas direta da Hyperfine consiste em 42 representantes dedicados de vendas de dispositivos médicos focados nos mercados de neurologia e radiologia.

Métrica da equipe de vendas	2024 dados
Total de representantes de vendas	42
Cota de vendas médias por representante	US $ 1,2 milhão anualmente
Cobertura geográfica	47 Estados dos EUA

Conferências médicas e feiras

A Hyperfine participa de 18 principais conferências de tecnologia médica anualmente.

• Conferência Anual da Sociedade Radiológica da América do Norte (RSNA)
• Reunião da Sociedade Americana de Neurorradiologia (ASNR)
• Conferência da Sociedade de Informações e Sistemas de Gerenciamento (HIMSS) de assistência médica (HIMSS)

Plataformas de marketing on -line e digital

O orçamento de marketing digital para 2024 é de US $ 3,7 milhões, com foco nos canais digitais profissionais de saúde direcionados.

Canal de marketing digital	2024 Alocação
Publicidade do LinkedIn	US $ 1,2 milhão
Sites profissionais médicos	$850,000
Publicidade digital programática	$650,000

Redes de distribuidores de tecnologia de saúde

A Hyperfine mantém parcerias com 7 principais distribuidores de equipamentos médicos.

• Henry Schein Medical
• Cardinal Health
• Medline Industries
• Amerisourcebergen

Parcerias de telemedicina e saúde digital

O portfólio atual de parcerias de telemedicina inclui 12 redes de saúde, representando potenciais alcance para 3,6 milhões de pacientes.

Tipo de parceria	Número de parcerias	Alcance potencial do paciente
Centros Médicos Acadêmicos	5	1,2 milhão de pacientes
Redes de hospitais regionais	4	1,5 milhão de pacientes
Plataformas de teleradiologia	3	900.000 pacientes

Hyperfine, Inc. (HYPR) - Modelo de negócios: segmentos de clientes

Hospitais e centros médicos

A hiperfina tem como alvo 6.090 hospitais nos Estados Unidos como segmentos de clientes primários. A empresa se concentra em instalações com capacidade de 100 a 500 leitos, representando aproximadamente 3.200 clientes institucionais em potencial.

Tipo de hospital	Total de clientes em potencial	Penetração de mercado
Hospitais urbanos	2,450	12.5%
Hospitais rurais	1,640	8.3%

Instalações de pesquisa neurológica

Alvos de hiperfina 287 instituições de pesquisa neurológicas dedicadas na América do Norte.

• Centros de pesquisa acadêmica: 124
• Institutos de Pesquisa Privada: 93
• Laboratórios de neurociência financiados pelo governo: 70

Departamentos de Emergência e Cuidados Urgentes

A empresa aborda 8.152 departamentos de emergência nos Estados Unidos.

Tipo de departamento	Número de instalações
Centros de trauma de nível I	611
Centros de trauma de nível II	1,089
Departamentos de emergência comunitários	6,452

Provedores de saúde rurais e carentes

A hiperfina concentra -se em 2.314 instalações de saúde rural com recursos limitados de imagem.

• Hospitais de Acesso Crítico: 1.328
• Clínicas de Saúde Rural: 986

Serviços de telemedicina e saúde móvel

A empresa tem como alvo 742 plataformas de telemedicina e provedores de saúde móvel nos Estados Unidos.

Segmento de telemedicina	Total de provedores
Redes nacionais de telemedicina	93
Plataformas regionais de telessaúde	349
Serviços de saúde móvel	300

Hyperfine, Inc. (HYPR) - Modelo de negócios: estrutura de custos

Despesas de pesquisa e desenvolvimento

Para o ano fiscal de 2023, a Hyperfine, Inc. relatou despesas de pesquisa e desenvolvimento de US $ 23,4 milhões, representando 66,3% da receita total.

Ano fiscal	Despesas de P&D	Porcentagem de receita
2023	US $ 23,4 milhões	66.3%
2022	US $ 18,7 milhões	58.9%

Custos de fabricação e produção

Os custos de fabricação da Hyperfine para sistemas de ressonância magnética portátil em 2023 foram de aproximadamente US $ 15,6 milhões.

• Custos de material direto: US $ 8,2 milhões
• Custos de mão -de -obra direta: US $ 4,9 milhões
• Manufatura de sobrecarga: US $ 2,5 milhões

Conformidade e certificação regulatória

As despesas anuais de conformidade regulatória para 2023 totalizaram US $ 3,7 milhões.

Categoria de conformidade	Despesa
Certificação FDA	US $ 1,5 milhão
Aprovações regulatórias internacionais	US $ 1,2 milhão
Sistemas de gestão da qualidade	US $ 1,0 milhão

Investimentos de vendas e marketing

As despesas de vendas e marketing de 2023 foram de US $ 12,9 milhões, representando 36,5% da receita total.

• Marketing Digital: US $ 4,3 milhões
• Compensação da equipe de vendas: US $ 5,6 milhões
• Feira de feira e despesas da conferência: US $ 3,0 milhões

Desenvolvimento e manutenção de software em andamento

Os custos de desenvolvimento e manutenção de software para 2023 foram de US $ 7,2 milhões.

Categoria de desenvolvimento de software	Despesa
Equipe de engenharia de software	US $ 4,8 milhões
Infraestrutura em nuvem	US $ 1,5 milhão
Manutenção de software e atualizações	US $ 0,9 milhão

Hyperfine, Inc. (HYPR) - Modelo de negócios: fluxos de receita

Vendas de dispositivos médicos

Sistema de ressonância magnética portátil Receita de vendas: US $ 4,1 milhões para o ano fiscal de 2023

Produto	Preço unitário médio	Volume anual de vendas
Sistema de ressonância magnética portátil	$350,000	12-15 unidades por trimestre

Licenciamento e assinaturas de software

Receita anual de software recorrente: US $ 1,2 milhão em 2023

• Licença de software de imagem baseada em nuvem: US $ 15.000 por ano
• Módulo de análise avançada: US $ 5.000 por módulo adicional

Contratos de serviço e manutenção

Tipo de contrato	Custo anual	Cobertura
Manutenção padrão	$25,000	Verificação anual do sistema, atualizações de software
Suporte premium	$45,000	Suporte técnico 24/7, resposta rápida

Parcerias de pesquisa clínica

Receita de colaboração de pesquisa: US $ 2,3 milhões em 2023

• NIH Research Grant Financiamento: US $ 1,5 milhão
• Contratos de Pesquisa Institucional Privada: US $ 800.000

Taxas de suporte de treinamento e implementação

Receita total de treinamento e implementação: US $ 750.000 em 2023

Serviço	Preço
Treinamento inicial do sistema	US $ 8.500 por instituição
Oficina de Técnicas de Imagem Avançada	US $ 3.200 por sessão

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.