Hinge Health, Inc. Q1 FY2026 earnings call

Dan Perez highlighted strong Q1 financial performance exceeding expectations. Launched migraine care program as expansion beyond MSK, demonstrating platform's ability to automate care across conditions. Commercially, pipeline was stronger than Q1 2025, interest from prospects was strong, and Hinge Select had positive momentum with 4,100 provider locations.

Revenue in Q1 2026 was $182 million, a 47% year-over-year growth from $124 million in Q1 2025. Last 12 months calculated billings reached $770 million, up 52% from $507 million in the prior year period. Gross margin was 85%, operating margin was 25% with operating income of $46 million, and free cash flow was $42 million, 10x higher year over year.

Raised Q2 2026 revenue guidance to $194 - $196 million, operating income to $47 - $49 million. Full-year 2026 revenue guidance raised to $798 - $804 million, operating income to $205 - $215 million, driven by higher average eligible lives and yield improvements.

Risks discussed include those detailed in SEC filings, including various uncertainties and assumptions affecting forward-looking statements, as per the transcript.

Q: Saket Khalia asked about the migraine program market opportunity and outcomes.

A: Dan Perez discussed the clinical need, distribution, and outcomes of the migraine program.

Q: Jay Linder Singh asked about yield long-term view and CMS access program.

A: Dan Perez talked about yield potential and CMS program stance. Other questions and answers follow similarly.