Hinge Health, Inc.
HNGE · Technology · FY2025 filings · · Narrow moat ·
On the watchlist
The five investor questions
2023–2025 (latest 3 aligned FYs; v3 window cap 5): revenue $293M to $588M, increasing; diluted EPS -8.31 to -7.77, increasing.
Median gross margin 76.8% over 3y, stable.
Not enough years of ROIC data to score returns on capital.
Net cash position — no leverage risk.
Owner earnings changed trend unclear over up to the ten most recent annual observations, share count n/a.
The returnsOnCapital component abstained: Not enough years of ROIC data to score returns on capital. The other four 20% weights were renormalized over the scored 80%.
Price vs. value if growth stopped today
A cautious baseline, not a price target: what the shares may support if normalized owner earnings simply hold steady.
- Not reported
- Unavailable — insufficient owner-earnings data
- Unavailable — insufficient growth-model data
- $92.55
- No price data
This zero-growth estimate assumes trailing owner earnings persist — unreliable for declining businesses. Flag status unavailable — four adjacent recent FY revenue observations are required.
Model details under moat-index@3.0.0: zero-growth multiple 11.1×, capped-growth comparison at no more than 18×; 9% discount rate; high-end growth 0% (capped at 4%) using min(5y revenue CAGR, 5y diluted-EPS CAGR), clamped to 0%–4%; maintenance capex uses min(capex, D&A); abstain when D&A is unavailable. This is a disclosed model range, not intrinsic value as fact.
Fundamentals
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Visual explainers
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Moat Score history
Breaks in the line mark methodology or normalizer upgrades — readings across versions aren’t compared, so a level shift there isn’t a change in the business.
Tier changesSame-methodology and same-normalizer crossings of the Wide / Narrow / Shallow bars
- Normalizer upgraded unstamped (version unknown)tomoat-xbrl-normalizer@1.1.0 — readings across versions aren’t comparedJul 26, 2026
- Methodology upgraded moat-index@2.0.0tomoat-index@3.0.0 — readings across versions aren’t comparedJul 23, 2026
- Methodology upgraded moat-index@1.2.0tomoat-index@2.0.0 — readings across versions aren’t comparedJul 20, 2026
Scores are logged append-only and never overwritten — this record cannot be reconstructed retroactively, which is exactly why it’s worth keeping.
Insider activity
Form 4 reports mix P/S market or private transactions with compensation-plan mechanics. Activity casually described as “insider selling” can include compensation mechanics; awards, tax withholding, and option exercises are shown by their exact filed class here, never collapsed into “Bought” or “Sold.”
These are disclosed filing facts and arithmetic aggregates, not a signal or verdict.
The insider-filing service is temporarily unavailable, so no partial or guessed answer is shown for HNGE.
Technology context
#172 of 749 scored Technology companies, ranked by Moat Score.
Nearest peers by Moat Score
- #170IMMR Immersion Corporation63.4 out of 100, Narrow moatNarrow moat
- #171BKTI BK Technologies Corp63.1 out of 100, Narrow moatNarrow moat
- #173CRWD CROWDSTRIKE HOLDINGS, INC.62.9 out of 100, Narrow moatNarrow moat
- #174PAYS PAYSIGN, INC.62.8 out of 100, Narrow moatNarrow moat
Compare HNGE with its nearest peers →All Technology companies on the Index →
Common questions about HNGE
- Does Hinge Health, Inc. have an economic moat?
- Based on its FY2025 SEC filings, the Moat Index scores Hinge Health, Inc. (HNGE) 63.0 out of 100 — a Narrow moat. The five questions behind that score begin at 20% each; if exactly one genuinely lacks data, the other four weights are renormalized and disclosed. revenue and EPS trend 60, pricing power 93, returns on capital not measurable from the filings, balance-sheet safety 55, capital allocation 44.
- How has HNGE's Moat Score changed over time?
- The record logs 13 readings since Jul 18, 2026; the latest reads 63.0 out of 100 (narrow moat). No tier changes on record yet. (Methodology or normalizer upgrades on Jul 20, 2026, Jul 23, 2026, Jul 26, 2026 re-based the score; readings across versions aren't compared.) The history is append-only — readings are only ever added, never rewritten.