HYPR - Hyperfine stock rises as Q3 device revenue surges maintains FY22 outlook

• Hyperfine ( NASDAQ: HYPR ) stock rose ~6% on Friday after Q3 results beat estimates.
• Net loss narrowed to -$13.17M, compared to -$16.39M in Q3 2021.
• Q3 revenues grew +532.88% Y/Y to ~$2.35M. Device revenue grew +872.5% Y/Y to ~$1.95M, while Service revenue increased +135.67% Y/Y to $403K.
• "We are also exercising rigorous financial discipline while prioritizing investments in R&D to optimize our software and A.I. capabilities to best meet the clinical uses we are pursuing," said Hyperfine President and CEO Maria Sainz.
• The company noted that it installed 10 commercial Swoop systems in Q3, bringing total year-to-date commercial installations to 30 systems.
• Research and development expenses increased to ~$7.34M, compared to $6.44M in Q3 2021.
• Outlook :
• Hyperfine said it continues to expect revenue for the full year 2022 to be between $7M and $8M (prior outlook during Q2 results was same); consensus $7.66M (3 analysts).
• The company continues to expect 35 to 45 commercial units being installed in 2022.

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