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GUILFORD, Conn. - Hyperfine, Inc. (NASDAQ:HYPR) announced Thursday the first commercial sales of its next-generation Swoop portable MRI system to two hospitals in the northeastern United States. The sales come shortly after the system received FDA clearance. According to InvestingPro data, the company maintains a strong financial position with more cash than debt and a current ratio of 6.07x, though analysts note it’s currently burning through cash reserves.
The hospitals plan to use the technology in intensive care units and emergency departments, according to a company press release. The next-generation Swoop system features the company’s proprietary Optive AI software, which the company states improves image quality with enhanced resolution, uniformity, and faster acquisition times.
"This marks the start of a new phase for Hyperfine—one where our vision to transform MRI access is driven by a new system that is commercially ready, is clinically valuable, has outstanding image quality and functionality, and is garnering strong customer interest," said Maria Sainz, President and CEO of Hyperfine.
The Swoop system is designed as a portable, ultra-low-field magnetic resonance imaging device for brain imaging. The FDA has cleared it for use with patients of all ages. According to the company, the system’s design accommodates a broad patient population, including pediatric, elderly, and anxious patients.
Hyperfine describes the system as having the highest signal-to-noise ratio when paired with its Optive AI software. The company anticipates growth in the second half of 2025 and beyond based on initial market response to the new system.
Founded by Dr. Jonathan Rothberg, Hyperfine aims to make diagnostic imaging more accessible across various healthcare settings. The company went public and is traded on the Nasdaq under the ticker HYPR, with its stock showing strong momentum over the past month despite broader market challenges.
In other recent news, Hyperfine Inc. reported its Q1 2025 earnings, revealing a net loss of $9.4 million, or $0.12 per share, which fell short of analysts’ expectations. The company’s revenue was $2.1 million, missing the anticipated $2.89 million, which has raised concerns about its ability to meet future performance targets. Despite the earnings miss, Hyperfine improved its gross margin to 41.3% and extended its cash runway to the end of 2026, indicating some progress in operational efficiency. Meanwhile, Hyperfine announced the FDA clearance of its next-generation portable MRI scanner, enhanced by its Optive AI™ software, which promises superior image quality and functionality. This new system aims to broaden clinical applications and adoption in diverse healthcare environments. Additionally, Hyperfine received FDA clearance for its Optive AI™ software update, which significantly enhances the image quality of its portable MRI system, potentially leading to more accurate diagnoses. The company plans to roll out this software update starting in the third quarter of 2025. Hyperfine’s leadership remains optimistic about future growth, projecting full-year revenue growth of 10-20% over 2024, driven by the commercial rollout of next-generation software and expansion into new markets.
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