Hinge Health, Inc.
en-gb.hingehealth.comHinge Health Inc (NYSE: HNGE) is a digital musculoskeletal health company that delivers AI-supported care for joint and muscle conditions to employer and health plan members. Revenue comes from member subscription fees paid by clients, recognized ratably over a 12-month subscription period once a billable activity is completed. Clients are primarily employers, health plans, and government entities that contract Hinge Health as the sole digital MSK care provider for their eligible lives, typically under three-year agreements. As of December 31, 2025, the company served 2,830 clients, 782,890 members, and 20,105 thousand LTM average eligible lives, with LTM calculated billings of $671.4 million. The platform covers acute injury, chronic pain, and post-surgical rehabilitation, and includes AI-powered motion tracking, a proprietary FDA-cleared electrical nerve stimulation wearable device called Enso, and an AI-assisted care team of licensed physical therapists, physicians, and board-certified health coaches. From inception through December 31, 2025, a majority of clients were contracted through Hinge Health's partner network of health plans, PBMs, and TPAs.
Products & Services
Digital MSK care platform covering acute injury, chronic pain, and post-surgical rehabilitation. Key components include AI-powered motion tracking technology, the Enso proprietary wearable electrical nerve stimulation device (FDA-cleared, supported by 8 issued U.S. and European patents and 12 pending patent applications as of December 31, 2025), a generative AI Care Team Assistant for care team workflow automation, and a care team of licensed physical therapists, physicians, and Nationally Board-Certified Health and Wellness Coaches.
Revenue Model
Member subscription fees paid by clients (employers, health plans, government entities) to provide eligible employees or members access to the platform. Revenue is recognized ratably over the 12-month member subscription period beginning when a billable activity is completed. Partners receive administrative or marketing fees when clients contract through them.
Customers & Markets
Employers (including self-funded benefit plan sponsors), health plans, and government entities that purchase or administer healthcare benefits. End beneficiaries are employees and plan members who enroll as contracted lives. Demand is driven by client need to manage MSK-related healthcare costs. As of December 31, 2025, the company had 2,830 clients.
Source: SEC 10-K, filed 2026-03-03
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