Hinge Health raises $437 million in its IPO
Digital physical therapy startup Hinge Health raised $437 million in its IPO, pricing at the top of its $28-$32 per share range.
By the numbers: The offering makes Hinge Health worth about $2.6 billion — nearly a 52% haircut from its $6.2 billion valuation in 2021.
It will trade on the NYSE under ticker symbol "HNGE."
The big picture: Hinge is using AI-powered physical therapy sensors that give patients live feedback on how they're progressing with an exercise.
Zoom in: Hinge posted $123.8 million in revenue in Q1 of this year (vs. $82.7 million in Q1 of 2024).
Hinge reported a $12 million net loss on $390 million in revenue for 2024, compared to a $108 million net loss on $293 million in revenue the year prior.
Gross margins were 81%, an increase from Q1 2024's 70%.
Flashback: The company had raised $800 million in VC funding from firms like Atomico, Insight Partners, Tiger Global, Coatue, Insight Partners, TCV, Industry Ventures, and Bessemer Venture Partners.
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