$HYPR
Hyperfine, Inc.

2022 Q4 Form 10-K Financial Statement

#000095017023009159 Filed on March 22, 2023

View on sec.gov

Income Statement

Concept 2022 Q4 2022 2021
Revenue $6.814M $1.496M
YoY Change 355.48% 408.84%
Cost Of Revenue $5.907M $2.663M
YoY Change 121.82% 245.4%
Gross Profit $907.0K -$1.167M
YoY Change -177.72% 144.65%
Gross Profit Margin 13.31% -78.01%
Selling, General & Admin $46.63M $37.86M
YoY Change 23.15% 349.58%
% of Gross Profit 5140.57%
Research & Development $28.16M $25.84M
YoY Change 8.95% 77.08%
% of Gross Profit 3104.3%
Depreciation & Amortization $1.015M $726.0K
YoY Change 39.81% 151.21%
% of Gross Profit 111.91%
Operating Expenses $74.78M $63.70M
YoY Change 17.39% 176.79%
Operating Profit -$73.87M -$64.87M
YoY Change 13.88% 176.14%
Interest Expense $761.0K $18.00K
YoY Change 4127.78% -74.29%
% of Operating Profit
Other Income/Expense, Net -$51.00K -$1.000K
YoY Change 5000.0% -83.33%
Pretax Income -$73.16M -$64.85M
YoY Change 12.82% 176.82%
Income Tax $0.00 $0.00
% Of Pretax Income
Net Earnings -$73.16M -$64.85M
YoY Change 12.82% 176.82%
Net Earnings / Revenue -1073.73% -4334.96%
Basic Earnings Per Share -$1.04 -$17.57
Diluted Earnings Per Share -$1.04 -$17.57
COMMON SHARES
Basic Shares Outstanding 70.45M 3.691M
Diluted Shares Outstanding 70.45M 3.691M

Balance Sheet

Concept 2022 Q4 2022 2021
SHORT-TERM ASSETS
Cash & Short-Term Investments $117.5M $188.5M
YoY Change -37.68% 200.75%
Cash & Equivalents $117.5M $117.5M $188.5M
Short-Term Investments
Other Short-Term Assets $3.965M $4.019M
YoY Change -1.34% 74.66%
Inventory $4.622M $4.622M $4.310M
Prepaid Expenses
Receivables $2.103M $2.103M $553.0K
Other Receivables $502.0K $105.0K
Total Short-Term Assets $128.7M $128.7M $197.5M
YoY Change -34.85% -34.85% 189.0%
LONG-TERM ASSETS
Property, Plant & Equipment $3.248M $3.248M $3.753M
YoY Change -13.46% -13.46% 97.11%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $2.139M $2.139M $1.235M
YoY Change 73.2% 73.2% -4.11%
Total Long-Term Assets $5.387M $5.387M $4.988M
YoY Change 8.0% 8.0% 56.27%
TOTAL ASSETS
Total Short-Term Assets $128.7M $128.7M $197.5M
Total Long-Term Assets $5.387M $5.387M $4.988M
Total Assets $134.1M $134.1M $202.5M
YoY Change -33.79% -33.79% 183.08%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $678.0K $678.0K $2.248M
YoY Change -69.84% -69.84% 137.13%
Accrued Expenses $5.976M $8.115M
YoY Change -26.36% 542.01%
Deferred Revenue $1.378M
YoY Change 88.77%
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $8.803M $8.803M $15.74M
YoY Change -44.06% -44.06% 282.31%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change -100.0%
Other Long-Term Liabilities $1.526M $510.0K
YoY Change 199.22%
Total Long-Term Liabilities $1.526M $510.0K
YoY Change 199.22% 186.52%
TOTAL LIABILITIES
Total Short-Term Liabilities $8.803M $8.803M $15.74M
Total Long-Term Liabilities $1.526M $510.0K
Total Liabilities $10.33M $10.33M $16.25M
YoY Change -36.42% -36.42% 278.34%
SHAREHOLDERS EQUITY
Retained Earnings -$209.5M
YoY Change 53.67%
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $123.7M $123.7M $186.2M
YoY Change
Total Liabilities & Shareholders Equity $134.1M $134.1M $202.5M
YoY Change -33.79% -33.79% 183.08%

Cashflow Statement

Concept 2022 Q4 2022 2021
OPERATING ACTIVITIES
Net Income -$73.16M -$64.85M
YoY Change 12.82% 176.82%
Depreciation, Depletion And Amortization $1.015M $726.0K
YoY Change 39.81% 151.21%
Cash From Operating Activities -$72.34M -$47.18M
YoY Change 53.32% 119.2%
INVESTING ACTIVITIES
Capital Expenditures $585.0K $2.711M
YoY Change -78.42% 72.9%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$585.0K -$2.711M
YoY Change -78.42% 72.9%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 7.000K 176.8M
YoY Change -100.0% 190.08%
NET CHANGE
Cash From Operating Activities -72.34M -47.18M
Cash From Investing Activities -585.0K -2.711M
Cash From Financing Activities 7.000K 176.8M
Net Change In Cash -72.92M 126.9M
YoY Change -157.47% 235.25%
FREE CASH FLOW
Cash From Operating Activities -$72.34M -$47.18M
Capital Expenditures $585.0K $2.711M
Free Cash Flow -$72.92M -$49.89M
YoY Change 46.16% 116.05%

Facts In Submission

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CashAndCashEquivalentsAtCarryingValue
188498000
CY2022Q4 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
771000
CY2021Q4 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
2662000
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
118243000
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
191160000
CY2022 hypr Cash Received From Exchange Of Research And Development Tax Credits
CashReceivedFromExchangeOfResearchAndDevelopmentTaxCredits
131000
CY2021 hypr Cash Received From Exchange Of Research And Development Tax Credits
CashReceivedFromExchangeOfResearchAndDevelopmentTaxCredits
374000
CY2022 hypr Write Off Of Notes Receivable
WriteOffOfNotesReceivable
90000
CY2021 us-gaap Stock Issued1
StockIssued1
3000000
CY2022 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p style="margin-left:2.533%;text-indent:0.0%;font-size:10.0pt;margin-top:0.0pt;font-family:Times New Roman;margin-bottom:0.0pt;margin-right:2.667%;text-align:justify;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;font-style:italic;min-width:fit-content;">Concentration of Credit Risk</span></p><p style="margin-left:2.533%;text-indent:0.0%;font-size:10.0pt;margin-top:0.0pt;font-family:Times New Roman;margin-bottom:0.0pt;margin-right:2.667%;text-align:justify;"><span style="white-space:pre-wrap;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> </span></p><p style="margin-left:2.533%;text-indent:0.0%;font-size:10.0pt;margin-top:0.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">Financial instruments that potentially subject the Company to concentration of credit risk consist principally of cash and cash equivalents. At December 31, 2022 and 2021, substantially all the Company’s cash and cash equivalents were invested at three and two financial institutions, respectively. The Company also maintains balances in various operating accounts above federally insured limits. The Company has not experienced any losses on such accounts and does not believe it is exposed to any significant credit risk on cash and cash equivalents.</span></p><p style="margin-left:2.533%;text-indent:0.0%;font-size:10.0pt;margin-top:0.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="white-space:pre-wrap;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> </span></p><p style="margin-left:2.533%;text-indent:0.0%;font-size:10.0pt;margin-top:0.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">For the years ended December 31, 2022 and 2021 there was </span><span style="font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">one</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> customer that represented 10% or more of total net revenue. We had </span><span style="font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">two</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> customers as of December 31, 2022 and </span><span style="font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">three</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> customers as of December 31, 2021, respectively, that each accounted for more than 10% of our total accounts receivable, net and unbilled receivables.</span></p><p style="text-indent:0.0%;font-size:10.0pt;margin-top:0.0pt;font-family:Times New Roman;margin-bottom:0.0pt;margin-right:2.667%;text-align:left;"><span style="white-space:pre-wrap;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> </span></p><p style="margin-left:2.533%;text-indent:0.0%;font-size:10.0pt;margin-top:0.0pt;font-family:Times New Roman;margin-bottom:0.0pt;margin-right:2.667%;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">The Company utilizes a single exclusive manufacturer for its Swoop® system. Additionally, the Company purchases raw materials from this manufacturer.</span></p>
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Award Vesting Period1
ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1
P4Y
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Terms Of Award
ShareBasedCompensationArrangementByShareBasedPaymentAwardTermsOfAward
10 years
CY2021 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
0.281
CY2022 us-gaap Number Of Operating Segments
NumberOfOperatingSegments
2
CY2022 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
1
CY2022 us-gaap Use Of Estimates
UseOfEstimates
<p style="margin-left:2.533%;text-indent:0.0%;font-size:10.0pt;margin-top:0.0pt;font-family:Times New Roman;margin-bottom:0.0pt;margin-right:2.667%;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;font-style:italic;min-width:fit-content;">Use of Estimates</span></p><p style="margin-left:2.533%;text-indent:0.0%;font-size:10.0pt;margin-top:0.0pt;font-family:Times New Roman;margin-bottom:0.0pt;margin-right:2.667%;text-align:left;"><span style="white-space:pre-wrap;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> </span></p><p style="margin-left:2.533%;text-indent:0.0%;font-size:10.0pt;margin-top:0.0pt;font-family:Times New Roman;margin-bottom:0.0pt;margin-right:2.667%;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">The preparation of the combined and consolidated financial statements in conformity with U.S. GAAP requires the Company to make estimates and assumptions about future events that affect the amounts reported in its combined and consolidated financial statements and accompanying notes. Future events and their effects cannot be determined with certainty. On an ongoing basis, management evaluates these estimates and assumptions. Significant estimates and assumptions included:</span></p><p style="margin-left:12.867%;text-indent:0.0%;font-size:10.0pt;margin-top:0.0pt;font-family:Times New Roman;margin-bottom:0.0pt;margin-right:2.667%;text-align:left;"><span style="white-space:pre-wrap;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> </span></p><div style="margin-left:6.667%;text-indent:0.0%;display:flex;margin-top:0.0pt;justify-content:flex-start;align-items:baseline;margin-bottom:0.0pt;margin-right:2.667%;min-width:3.333%;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;text-indent:0;display:inline-flex;font-size:10.0pt;font-family:Times New Roman;justify-content:flex-start;min-width:3.571084182443509%;">•</span><div style="display:inline;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">Revenue recognition, including determination of the timing and pattern of satisfaction of performance obligations, determination of the standalone selling price (“SSP”) of performance obligations and estimation of variable consideration if any;</span></div></div><div style="margin-left:6.667%;text-indent:0.0%;display:flex;margin-top:10.0pt;justify-content:flex-start;align-items:baseline;margin-bottom:0.0pt;margin-right:2.667%;min-width:3.333%;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;text-indent:0;display:inline-flex;font-size:10.0pt;font-family:Times New Roman;justify-content:flex-start;min-width:3.571084182443509%;">•</span><div style="display:inline;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">Allowance for doubtful accounts;</span></div></div><div style="margin-left:6.667%;text-indent:0.0%;display:flex;margin-top:10.0pt;justify-content:flex-start;align-items:baseline;margin-bottom:0.0pt;margin-right:2.667%;min-width:3.333%;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;text-indent:0;display:inline-flex;font-size:10.0pt;font-family:Times New Roman;justify-content:flex-start;min-width:3.571084182443509%;">•</span><div style="display:inline;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">Net realizable value (the selling price as well as estimated costs of disposal and transportation) of inventory, and demand and future use of inventory;</span></div></div><div style="margin-left:6.667%;text-indent:0.0%;display:flex;margin-top:10.0pt;justify-content:flex-start;align-items:baseline;margin-bottom:0.0pt;margin-right:2.667%;min-width:3.333%;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;text-indent:0;display:inline-flex;font-size:10.0pt;font-family:Times New Roman;justify-content:flex-start;min-width:3.571084182443509%;">•</span><div style="display:inline;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">Valuation allowances with respect to deferred tax assets; and</span></div></div><div style="margin-left:6.667%;text-indent:0.0%;display:flex;margin-top:10.0pt;justify-content:flex-start;align-items:baseline;margin-bottom:0.0pt;margin-right:2.667%;min-width:3.333%;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;text-indent:0;display:inline-flex;font-size:10.0pt;font-family:Times New Roman;justify-content:flex-start;min-width:3.571084182443509%;">•</span><div style="display:inline;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">Assumptions underlying the fair value used in calculation of the stock-based compensation expense.</span></div></div><p style="margin-left:2.533%;text-indent:0.0%;font-size:10.0pt;margin-top:0.0pt;font-family:Times New Roman;margin-bottom:0.0pt;margin-right:2.667%;text-align:left;"><span style="white-space:pre-wrap;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> </span></p><p style="margin-left:2.533%;text-indent:0.0%;font-size:10.0pt;margin-top:0.0pt;font-family:Times New Roman;margin-bottom:0.0pt;margin-right:2.667%;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">The Company bases these estimates on historical and anticipated results and trends and on various other assumptions that the Company believes are reasonable under the circumstances, including assumptions as to future events. Changes in estimates are recorded in the period in which they become known. Actual results could differ from those estimates, and any such differences may be material to the Company’s combined and consolidated financial statements. </span></p>
CY2022 us-gaap Net Income Loss
NetIncomeLoss
-73164000
CY2022Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-209484000
CY2022Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
117472000
CY2022 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
180000
CY2021 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
32000
CY2022 us-gaap Effective Income Tax Rate Reconciliation Tax Credits
EffectiveIncomeTaxRateReconciliationTaxCredits
0.000
CY2022 us-gaap Impairment Of Intangible Assets Finitelived
ImpairmentOfIntangibleAssetsFinitelived
80000
CY2021 us-gaap Impairment Of Intangible Assets Finitelived
ImpairmentOfIntangibleAssetsFinitelived
0
CY2022 us-gaap Capitalized Contract Cost Amortization Method
CapitalizedContractCostAmortizationMethod
straight-line method
CY2022Q4 us-gaap Capitalized Contract Cost Amortization Period
CapitalizedContractCostAmortizationPeriod
P3Y
CY2022 us-gaap Employee Service Share Based Compensation Tax Benefit From Exercise Of Stock Options
EmployeeServiceShareBasedCompensationTaxBenefitFromExerciseOfStockOptions
0
CY2021 us-gaap Employee Service Share Based Compensation Tax Benefit From Exercise Of Stock Options
EmployeeServiceShareBasedCompensationTaxBenefitFromExerciseOfStockOptions
0
CY2022Q3 hypr Option Repricing Approved Date
OptionRepricingApprovedDate
2022-08-24
CY2022Q3 hypr Option Repricing Effected Date
OptionRepricingEffectedDate
2022-10-31
CY2021 us-gaap Effective Income Tax Rate Reconciliation Tax Credits
EffectiveIncomeTaxRateReconciliationTaxCredits
0.000
CY2021 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21
CY2021Q4 us-gaap Deferred Tax Assets Other
DeferredTaxAssetsOther
84000
CY2022Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
53365000
CY2021Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
36136000
CY2022Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
53365000
CY2021Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
36136000
CY2022 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0
CY2021 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0
CY2022 us-gaap Advertising Expense
AdvertisingExpense
1338000
CY2021 us-gaap Advertising Expense
AdvertisingExpense
2459000
CY2022 hypr Uncertain Tax Positions
UncertainTaxPositions
0
CY2021 hypr Uncertain Tax Positions
UncertainTaxPositions
0
CY2021Q3 us-gaap Shares Issued Price Per Share
SharesIssuedPricePerShare
15.00
CY2021Q4 hypr Percentage Number Of Shares Ceases To Beneficially Owned
PercentageNumberOfSharesCeasesToBeneficiallyOwned
0.20
CY2021Q4 hypr Proceeds From Business Combination
ProceedsFromBusinessCombination
141471000
CY2021Q4 hypr Interest And Payments To Redeeming Company Shareholders
InterestAndPaymentsToRedeemingCompanyShareholders
171437000
CY2021Q4 hypr Business Combination Payment Of Transaction Costs
BusinessCombinationPaymentOfTransactionCosts
20640000
CY2021Q4 hypr Prepaid Insurance Policy In Connection With Business Combination
PrepaidInsurancePolicyInConnectionWithBusinessCombination
1244000
CY2021Q4 hypr Payment Of Paycheck Protection Program Loan
PaymentOfPaycheckProtectionProgramLoan
113000
CY2022 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
6814000
CY2021 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1496000
CY2022 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.210
CY2021 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.210
CY2022 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.021
CY2021 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.040
CY2022Q4 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
2103000
CY2021Q4 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
553000
CY2022Q4 us-gaap Unbilled Receivables Current
UnbilledReceivablesCurrent
454000
CY2021Q4 us-gaap Unbilled Receivables Current
UnbilledReceivablesCurrent
91000
CY2022Q4 hypr Unbilled Receivables Noncurrent
UnbilledReceivablesNoncurrent
744000
CY2022Q4 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
1378000
CY2021Q4 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
730000
CY2022Q4 us-gaap Contract With Customer Liability Noncurrent
ContractWithCustomerLiabilityNoncurrent
1526000
CY2021Q4 us-gaap Contract With Customer Liability Noncurrent
ContractWithCustomerLiabilityNoncurrent
510000
CY2022 hypr Revenue Recognize Receivable Payment Terms Range Minimum
RevenueRecognizeReceivablePaymentTermsRangeMinimum
P30D
CY2022 hypr Revenue Recognize Receivable Payment Terms Range Maximum
RevenueRecognizeReceivablePaymentTermsRangeMaximum
P1Y
CY2022 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
593000
CY2021 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
158000
CY2022Q4 us-gaap Capitalized Contract Cost Net
CapitalizedContractCostNet
247000
CY2021Q4 us-gaap Capitalized Contract Cost Net
CapitalizedContractCostNet
158000
CY2022 us-gaap Capitalized Contract Cost Amortization
CapitalizedContractCostAmortization
331000
CY2021 us-gaap Capitalized Contract Cost Amortization
CapitalizedContractCostAmortization
29000
CY2022Q4 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
8663000
CY2021Q4 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
2800000
CY2022Q4 hypr Revenue Remaining Performance Obligation Expected Timing Percentage
RevenueRemainingPerformanceObligationExpectedTimingPercentage
0.62
CY2022Q4 hypr Revenue Remaining Performance Obligation Expected Timing Percentage
RevenueRemainingPerformanceObligationExpectedTimingPercentage
0.38
CY2022 hypr Fair Value Assets Transfer Between Levels Amount
FairValueAssetsTransferBetweenLevelsAmount
0
CY2021 hypr Fair Value Assets Transfer Between Levels Amount
FairValueAssetsTransferBetweenLevelsAmount
0
CY2022 us-gaap Effective Income Tax Rate Reconciliation Tax Credits Research
EffectiveIncomeTaxRateReconciliationTaxCreditsResearch
0.025
CY2021 us-gaap Effective Income Tax Rate Reconciliation Tax Credits Research
EffectiveIncomeTaxRateReconciliationTaxCreditsResearch
0.015
CY2022Q4 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
2241000
CY2021Q4 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
2355000
CY2022Q4 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
2381000
CY2021Q4 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
1955000
CY2022Q4 us-gaap Inventory Net
InventoryNet
4622000
CY2021Q4 us-gaap Inventory Net
InventoryNet
4310000
CY2022Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
5570000
CY2021Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
5163000
CY2022Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
2322000
CY2021Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
1410000
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
3248000
CY2021Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
3753000
CY2022 us-gaap Depreciation
Depreciation
1015000
CY2021 us-gaap Depreciation
Depreciation
726000
CY2022Q4 us-gaap Accrued Bonuses Current
AccruedBonusesCurrent
2674000
CY2021Q4 us-gaap Accrued Bonuses Current
AccruedBonusesCurrent
3421000
CY2022Q4 hypr Accrued Contracted Services Current
AccruedContractedServicesCurrent
1127000
CY2021Q4 hypr Accrued Contracted Services Current
AccruedContractedServicesCurrent
2711000
CY2021Q4 hypr Accrued Bonus And Other Costs Current
AccruedBonusAndOtherCostsCurrent
1071000
CY2022Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
261000
CY2021Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
452000
CY2022Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
1876000
CY2021Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
441000
CY2022Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
38000
CY2021Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
19000
CY2022Q4 hypr Accrued Expenses And Other Current Liabilities
AccruedExpensesAndOtherCurrentLiabilities
5976000
CY2021Q4 hypr Accrued Expenses And Other Current Liabilities
AccruedExpensesAndOtherCurrentLiabilities
8115000
CY2021Q3 us-gaap Temporary Equity Shares Authorized
TemporaryEquitySharesAuthorized
129788828
CY2021Q3 us-gaap Temporary Equity Shares Issued
TemporaryEquitySharesIssued
109182191
CY2021Q3 us-gaap Temporary Equity Shares Outstanding
TemporaryEquitySharesOutstanding
109182191
CY2021Q3 us-gaap Proceeds From Issuance Of Convertible Preferred Stock
ProceedsFromIssuanceOfConvertiblePreferredStock
159119000
CY2021Q3 hypr Temporary Equity Shares Issuance Cost
TemporaryEquitySharesIssuanceCost
372000
CY2021Q3 us-gaap Temporary Equity Carrying Amount Attributable To Parent
TemporaryEquityCarryingAmountAttributableToParent
158747000
CY2022 us-gaap Liquidation Basis Of Accounting Liquidation Plan
LiquidationBasisOfAccountingLiquidationPlan
In the event of any liquidation, dissolution or winding up of Legacy Hyperfine, whether voluntary or involuntary or a deemed liquidation event (which includes a merger, the sale of all of Legacy Hyperfine’s assets, or a transaction which the holders of capital stock of Legacy Hyperfine hold less than 50% of the voting securities) (each a “Liquidation Event”), the holders of the Convertible Preferred Stock are entitled to be paid out of the assets of Legacy Hyperfine available for distribution to stockholders, pari passu, at a liquidation price per share equal to the greater of: (1) the applicable original issue price of such Convertible Preferred Stock, plus any declared and unpaid dividends or (2) an amount that would have been payable had all the shares of the Convertible Preferred Stock been converted into Legacy Hyperfine common stock. These payments will be made to or set aside prior to the holders of shares of any other class or series of capital stock that is not, by its terms, senior to the Convertible Preferred Stock.
CY2022Q4 us-gaap Share Based Goods And Nonemployee Services Transaction Modification Of Terms Incremental Compensation Cost
ShareBasedGoodsAndNonemployeeServicesTransactionModificationOfTermsIncrementalCompensationCost
143000
CY2022Q2 hypr Number Of Vesting Installments
NumberOfVestingInstallments
4
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
1.34
CY2022 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
7000
CY2021 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
1497000
CY2022 hypr Share Based Payment Arrangement Plan Modification Incremental Value
ShareBasedPaymentArrangementPlanModificationIncrementalValue
0
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Plan Modification Incremental Compensation Cost
ShareBasedCompensationArrangementByShareBasedPaymentAwardPlanModificationIncrementalCompensationCost
0
CY2022Q2 us-gaap Share Based Compensation
ShareBasedCompensation
4501000
CY2022 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense Share Based Compensation Cost
EffectiveIncomeTaxRateReconciliationNondeductibleExpenseShareBasedCompensationCost
-0.015
CY2021 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense Share Based Compensation Cost
EffectiveIncomeTaxRateReconciliationNondeductibleExpenseShareBasedCompensationCost
-0.001
CY2022 us-gaap Effective Income Tax Rate Reconciliation Change In Enacted Tax Rate
EffectiveIncomeTaxRateReconciliationChangeInEnactedTaxRate
-0.004
CY2021 us-gaap Effective Income Tax Rate Reconciliation Change In Enacted Tax Rate
EffectiveIncomeTaxRateReconciliationChangeInEnactedTaxRate
0.022
CY2022 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
0.001
CY2021 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
-0.005
CY2022 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
0.235
CY2022 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
10652000
CY2021 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
6901000
CY2022Q4 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
10074000
CY2022 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P2Y10M2D
CY2022 us-gaap Net Income Loss
NetIncomeLoss
-73164000
CY2021 us-gaap Net Income Loss
NetIncomeLoss
-64851000
CY2022 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-73164000
CY2021 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-64851000
CY2022 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
70449191
CY2022 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
70449191
CY2021 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
3690523
CY2021 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
3690523
CY2022 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-1.04
CY2022 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-1.04
CY2021 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-17.57
CY2021 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-17.57
CY2022 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
21726367
CY2021 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
17639652
CY2022Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
39033000
CY2021Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
29300000
CY2022Q4 us-gaap Deferred Tax Assets Tax Credit Carryforwards
DeferredTaxAssetsTaxCreditCarryforwards
5478000
CY2021Q4 us-gaap Deferred Tax Assets Tax Credit Carryforwards
DeferredTaxAssetsTaxCreditCarryforwards
3429000
CY2022Q4 us-gaap Deferred Tax Liabilities Property Plant And Equipment
DeferredTaxLiabilitiesPropertyPlantAndEquipment
117000
CY2021Q4 us-gaap Deferred Tax Liabilities Property Plant And Equipment
DeferredTaxLiabilitiesPropertyPlantAndEquipment
117000
CY2022Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Share Based Compensation Cost
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost
2621000
CY2021Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Share Based Compensation Cost
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost
1634000
CY2022Q4 us-gaap Deferred Tax Assets In Process Research And Development
DeferredTaxAssetsInProcessResearchAndDevelopment
5463000
CY2022Q4 us-gaap Deferred Tax Assets Deferred Income
DeferredTaxAssetsDeferredIncome
817000
CY2021Q4 us-gaap Deferred Tax Assets Deferred Income
DeferredTaxAssetsDeferredIncome
949000
CY2021Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Accrued Liabilities
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsAccruedLiabilities
857000
CY2022Q4 us-gaap Deferred Tax Assets Other
DeferredTaxAssetsOther
70000
CY2022 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21
CY2022 hypr Deferred Tax Assets Valuation Allowance Increased
DeferredTaxAssetsValuationAllowanceIncreased
18135000
CY2021 hypr Deferred Tax Assets Valuation Allowance Increased
DeferredTaxAssetsValuationAllowanceIncreased
18348000
CY2022 hypr Ownership Change Description
OwnershipChangeDescription
an ownership change occurs when certain shareholders increase their aggregated ownership by more than 50 percentage points over their lowest ownership percentage in a testing period (typically three years).
CY2022 hypr Ownership Change Percentage Testing Period
OwnershipChangePercentageTestingPeriod
P3Y
CY2022Q4 hypr Number Of Consecutive Ownership Changes
NumberOfConsecutiveOwnershipChanges
2
CY2022 hypr Ownership Changes Date One
OwnershipChangesDateOne
2017-01-17
CY2022 hypr Ownership Changes Date Two
OwnershipChangesDateTwo
2017-05-16
CY2017Q1 hypr Net Operating Loss And Tax Credit Carry Forwards Annual Limitation
NetOperatingLossAndTaxCreditCarryForwardsAnnualLimitation
865000
CY2017Q2 hypr Net Operating Loss And Tax Credit Carry Forwards Annual Limitation
NetOperatingLossAndTaxCreditCarryForwardsAnnualLimitation
3008000
CY2022Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
0
CY2021Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
0
CY2022 hypr Percentage Of Cash Payment In Research And Development Tax Credit Carryforwards
PercentageOfCashPaymentInResearchAndDevelopmentTaxCreditCarryforwards
0.65
CY2022 us-gaap Income Tax Reconciliation Tax Credits Research
IncomeTaxReconciliationTaxCreditsResearch
525000
CY2021 us-gaap Income Tax Reconciliation Tax Credits Research
IncomeTaxReconciliationTaxCreditsResearch
196000
CY2018Q1 us-gaap Due From Employees Noncurrent
DueFromEmployeesNoncurrent
90000
CY2018Q1 us-gaap Related Party Transaction Rate
RelatedPartyTransactionRate
0.0168
CY2022Q1 hypr Due From Employees Forgiveness
DueFromEmployeesForgiveness
90000
CY2021Q4 us-gaap Accounts Payable Related Parties Current
AccountsPayableRelatedPartiesCurrent
1872000
CY2020Q4 hypr Deferred Grant Funding Current
DeferredGrantFundingCurrent
1610000
CY2020 hypr Number Of Sites
NumberOfSites
20
CY2021 hypr Grant Awarded
GrantAwarded
3300000
CY2021 hypr Grant Awarded For Provision And Equipping
GrantAwardedForProvisionAndEquipping
2500000
CY2021 hypr Number Of Sites
NumberOfSites
5
CY2022Q2 hypr Grant Awarded For Provision And Equipping
GrantAwardedForProvisionAndEquipping
800000
CY2022Q4 us-gaap Restricted Cash Current
RestrictedCashCurrent
771000
CY2022Q4 hypr Deferred Grant Funding Current
DeferredGrantFundingCurrent
771000
CY2021Q4 us-gaap Restricted Cash Current
RestrictedCashCurrent
2662000
CY2021Q4 hypr Deferred Grant Funding Current
DeferredGrantFundingCurrent
2662000
CY2021 hypr Number Of Swoop System And Other Services Deployed
NumberOfSwoopSystemAndOtherServicesDeployed
25
CY2021 hypr Expected Period To Fund Program
ExpectedPeriodToFundProgram
P2Y
CY2022 hypr Number Of Swoop System Units Provisioned And Delivered
NumberOfSwoopSystemUnitsProvisionedAndDelivered
20
CY2022 hypr Number Of Baby Cradles Provisioned And Delivered
NumberOfBabyCradlesProvisionedAndDelivered
10
CY2022 us-gaap Related Party Transaction Amounts Of Transaction
RelatedPartyTransactionAmountsOfTransaction
1000000
CY2022Q4 hypr Earn Out Liability
EarnOutLiability
0
CY2022 us-gaap Impairment Of Intangible Assets Finitelived
ImpairmentOfIntangibleAssetsFinitelived
80000

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