Hyperfine, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2023
August 14, 2023 at 09:17 pm
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Hyperfine, Inc. reported earnings results for the second quarter and six months ended June 30, 2023. For the second quarter, the company reported revenue was USD 3.38 million compared to USD 1.53 million a year ago. Net loss was USD 10.64 million compared to USD 23.16 million a year ago. Basic loss per share from continuing operations was USD 0.15 compared to USD 0.33 a year ago.
For the six months, revenue was USD 6.02 million compared to USD 3.04 million a year ago. Net loss was USD 22.8 million compared to USD 46.93 million a year ago. Basic loss per share from continuing operations was USD 0.32 compared to USD 0.67 a year ago.
Hyperfine, Inc. is a health technology company. The Company provides a Swoop Portable Magnetic Resonance Imaging System (Swoop system), which is a portable magnetic resonance imaging (MRI) system capable of providing neuroimaging at the point of care. Its Swoop system produces images at a lower magnetic field strength than conventional MRI scanners. The Swoop system is a portable, ultra-low-field (ULF) MRI device for producing images that display the internal structures of the head where full diagnostic examination is not clinically practical. MRI is used in various clinical settings for medical diagnosis, the staging of disease, and follow-up treatment. It has designed Swoop system to address an unmet need in point-of-care medical imaging through a combination of hardware and artificial intelligence (AI)-powered software services. The Companyâs system operates from a Wi-Fi-capable tablet and integrates with picture archiving and communication systems (PACS).