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© Hinge Health Confidential 1 Q3 2026 Earnings November 2026
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© Hinge Health Confidential 2 Legal disclaimer This presentation contains forward-looking statements about Hinge Health, Inc. (the "Company," "Hinge Health,” "we," "us," or "our") and its industry that involve substantial risks and uncertainties. All statements other than statements of historical facts contained in this presentation are forward-looking statements. In some cases, you can identify forward-looking statements because they contain words such as “may,” “will,” “shall,” “should,” “expects,” “plans,” “anticipates,” “could,” “intends,” “target,” “projects,” “contemplates,” “believes,” “estimates,” “predicts,” “potential,” “goal,” “objective,” “seeks,” or “continue” or the negative of these words or other similar terms or expressions that concern the Company’s expectations, strategy, plans, or intentions. Forward-looking statements include, but are not limited to, statements about the anticipated demand for the Company’s platform and programs, the anticipated repeatability of the Company's go-to-market model, the Company's ability to deepen partner integrations and strengthen referral pathways, the size of the Company’s addressable markets and the Company's ability to expand into additional markets, the Company’s ability to use technology, including artificial intelligence and machine learning, to operate certain features of its platform and programs, and expectations regarding outcomes for the Company’s members or estimated average cost savings for the Company’s clients. The Company may not actually achieve the plans, intentions, or expectations disclosed in these forward-looking statements, and you should not place undue reliance on these forward-looking statements. These forward-looking statements are subject to risks, uncertainties, and assumptions that could cause actual results or events to differ materially from the plans, intentions, and expectations disclosed in these forward-looking statements. In addition, the forward-looking statements included in this presentation represent the Company’s views as of the date of this presentation. The Company undertakes no obligation to update any forward-looking statements for any reason after the date of this presentation to conform these statements to actual results or to changes in expectations, strategy, plans, or intentions except as required by law. This presentation includes certain financial measures not presented in accordance with U.S. generally accepted accounting principles (“GAAP”), including non-GAAP gross profit, non-GAAP gross margin, non-GAAP income (loss) from operations, non-GAAP operating margin, free cash flow and free cash flow margin, which are used by management for financial and operational decision-making and as a means to assist in evaluating period-to-period comparisons. These non-GAAP financial measures have certain limitations and should be considered in addition to, not as a substitute for or in isolation from, financial measures prepared in accordance with GAAP. Any non-GAAP financial measure as defined by the Company may not be comparable to similar non-GAAP financial measures presented by other companies. Presentation of such financial measures, which may include adjustments to exclude unusual or non-recurring items, should not be construed as an inference that the Company’s future results will be unaffected by other unusual or non-recurring items. A reconciliation is provided in the appendix to this presentation for each non-GAAP financial measure to the most directly comparable financial measure prepared in accordance with GAAP. Certain information contained in this presentation relates to or is based on studies, publications, surveys, and other data obtained from third-party sources and the Company’s own internal estimates and research. While the Company believes these third-party sources to be reliable as of the date of this presentation, it has not independently verified, and makes no representation as to the adequacy, fairness, accuracy, or completeness of any information. The trademarks included herein are the property of the owners thereof and are used for reference purposes only. Such use should not be construed as an endorsement of the platform or programs of the Company.
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© Hinge Health Confidential 3 Q3 key highlights Product • Members who use Movement Analysis do more CV-based exercises overall • Migraine Care Program: • Early results show a 23% reduction in monthly migraine days and 28% reduction in migraine duration • Gastrointestinal Care Program: • Food Analysis model reads what’s going in, Robin connects that to symptoms, and AI-powered Stool Scan analyzes output - all feeding a customized care plan and combined with access to a care team of GI specialists, dieticians and gut-brain therapists • Fully integrated program targeted for summer 2027 Metrics & guidance (non-GAAP) Q3 results • $235M revenue1, 52% y/y growth • $960M LTM calculated billings2, 54% y/y growth • $77M income from operations1,3, 33% operating margin3 • $120M of FCF1,3, 51% FCF margin3 (excluding $7M of one-time acquisition-related payments) • $0.71 diluted net income per share1,3,4 Forward guidance Q4: • Revenue: $249-251M, 46% y/y growth • Income from operations5: $81-83M, 33% margin at the midpoint Revised 2026: • Revenue: $879-881M, 50% y/y growth • Income from operations5: $266-268M, 30% margin at the midpoint Commercial • On track for another record sales season • 3,270 contracted clients, up 28% y/y • 3 new Fortune 15 clients + 1 full population expansion • SMB investments paying off - closed ~1M lives Q3 YTD • Multi product platform resonating - 10M+ lives have access to multiple Hinge Health products • HingeSelect: Encouraging Surgeon feedback: value pre-qualified members, integrated pre- and post-surgical care, and our geography-specific contracting Notes: Refer to glossary of terms in appendix. 1Revenue, non-GAAP income from operations, free cash flow and non-GAAP diluted net income per share for the three-month period ended September 30, 2026. 2LTM calculated billings for the twelve-month period ended September 30, 2026. 3See appendix for description of non-GAAP income from operations and operating margin, free cash flow and free cash flow margin, and non-GAAP diluted net income per share and a reconciliation to the most comparable GAAP financial measure. 4Non-GAAP net income attributable to common stockholders per share, diluted. 5See appendix for a disclaimer on why we are unable to provide reconciliations for non-GAAP guidance.
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© Hinge Health Confidential 4 Notes: Refer to glossary of terms in appendix. 1LTM calculated billings for the twelve-month periods ended September 30, 2025 and 2026. 2Revenue for the three-month periods ended September 30, 2025 and 2026. Growth profile demonstrating rapid expansion at scale RevenueLTM calculated billings $624M $960M 54% growth Q3 20251 Q3 20261 $154M $235M 52% growth Q3 20252 Q3 20262
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© Hinge Health Confidential 5 Continued margin expansion and operating leverage Free cash flow1Non-GAAP gross margin1 Notes: 1See appendix for a description of non-GAAP gross margin, non-GAAP operating income (loss) and non-GAAP operating margin, and free cash flow and free cash flow margin, and a reconciliation to the most comparable GAAP financial measures. 2Non-GAAP gross margin, non-GAAP operating income (loss), and free cash flow for the three-month periods ended September 30, 2025 and 2026. 3Q3 2026 free cash flow and free cash flow margin is exclusive of $7M of one-time acquisition related payments made intra quarter. 88% 83% ~480 bps Q3 20252 Q3 20262 Q3 20252 Q3 20262,353% 51%Margin (%) $81M $120M Non-GAAP operating income1 Q3 20252 Q3 20262 20% 33%Margin (%) $77M $30M 154% growth 48% growth
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© Hinge Health Confidential 6 Non-GAAP gross margin1 Non-GAAP operating margin1 Q3’24 Q4’24 Q1’25 Q2’25 Q3’25 Q4’25 Q1’26 Q2’26 Q3’26 Ongoing gross margin and operating margin improvements ~3,650 bps margin expansion 18% Notes: 1See appendix for a description of non-GAAP reconciliation to the most comparable GAAP financial measure. 79% 82% 81% 83% 83% 85% 85% 87% 88% ~890 bps margin expansion (4%) 12% 19% 20% 28% 25% 29% 33%
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© Hinge Health Confidential 7 Sales & Marketing Notes: All non-GAAP expenses. See appendix for a description of non-GAAP operating expenses and a reconciliation to the most comparable GAAP financial measure. Percentages are calculated as each non-GAAP operating expense bucket divided by revenue. Strong leverage across operating expenses Research & Development General & Administrative 44% Q3 2024 24% Q3 2024 15% Q3 2024 14% 12% 11% 10% Q3 2025 Q3 2026 37% 33% Q3 2025 Q3 2026 Q3 2025 Q3 2026
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© Hinge Health Confidential 8 Free cash flow1,2 Free cash flow margin1,2 Notes: 1See appendix for a description of non-GAAP reconciliation to the most comparable GAAP financial measure. 2Q3 2026 free cash flow and free cash flow margin is exclusive of $7M of one-time acquisition related payments made intra quarter. Substantial free cash flow generation 51% $120M $28M $37M $4M $33M $81M $62M $42M $100M 27% 32% 3% 23% 53% 36% 23% 47%
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© Hinge Health Confidential 9 Notes: 1Health Advances: 2023 MSK Total Addressable Market Analysis (January 2025). 2The burden of neurological disease in the United States: a summary report and call to action. 3Burden and Cost of Gastrointestinal, Liver, and Pancreatic Diseases in the United States. 4Twelve-month client retention rate and net dollar retention as of December 31, 2025. Strong leadership position in $661B MSK opportunity1 with another $78B2 in Migraine and $135B3 in Gastrointestinal Deeply ingrained partnerships and a leading technology platform High satisfaction with 97% client retention and >110% net dollar retention4 Proven clinical and financial outcomes for clients and members Efficient operating model with expanding margins Key investment highlights 9
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© Hinge Health Confidential 10 Bianca Buck Head of Investor Relations Leadership team Jim Pursley President James Budge Chief Financial Officer Daniel Perez Co-founder, CEO Gabriel Mecklenburg Co-founder, CTO Lex Annison Chief Operating Officer Jeff Krauss, MD Chief Medical Officer Shobhna Upadhyaya SVP People and Strategy Aaryn Pure Chief Commercial Officer
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© Hinge Health Confidential 11 Appendix
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© Hinge Health Confidential 12 Notes: 1Non-GAAP gross profit is defined as gross profit presented in accordance with GAAP, adjusted to exclude non-cash, non-operational and non-recurring items, including excess and obsolete inventory charges related to AI-powered motion tracking technology transition, stock-based compensation expense, amortization of intangible assets and restructuring and other expenses. 2Non-GAAP gross margin is non-GAAP gross profit divided by revenue. Year ended December 31 ($ in millions, except percentages) 2023 2024 2025 GAAP gross profit $194 $300 $468 GAAP gross margin 66% 77% 80% Excess and obsolete inventory charges 10 2 - Stock-based compensation expense <1 <1 19 Employer payroll tax expense related to stock-based compensation - - 1 Amortization of intangible assets <1 <1 1 Restructuring and other expenses - 1 - Acquisition-related expenses - - - Non-GAAP gross profit1 $205 $303 $489 Non-GAAP gross margin2 70% 78% 83% Non-GAAP gross profit and gross margin annual reconciliation
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© Hinge Health Confidential 13 Non-GAAP gross profit and gross margin quarterly reconciliation Three months ended ($ in millions, except percentages) Q3’24 Q4’24 Q1’25 Q2’25 Q3’25 Q4’25 Q1'26 Q2’26 Q3’26 GAAP gross profit $79 $96 $100 $98 $126 $144 $154 $184 $204 GAAP gross margin 79% 82% 81% 70% 82% 84% 85% 86% 87% Excess and obsolete inventory charges - - - - - - - - - Stock-based compensation expense <1 <1 - 16 1 1 1 1 1 Employer payroll tax expense related to stock-based compensation - - - 1 <1 <1 <1 <1 <1 Amortization of intangible assets <1 <1 <1 <1 <1 <1 <1 <1 1 Restructuring and other expenses (<1) - - - - - - - - Acquisition-related expenses - - - - - - - - <1 Non-GAAP gross profit1 $79 $96 $100 $115 $128 $146 $155 $185 $206 Non-GAAP gross margin2 79% 82% 81% 83% 83% 85% 85% 87% 88% Notes: 1Non-GAAP gross profit is defined as gross profit presented in accordance with GAAP, adjusted to exclude non-cash, non-operational and non-recurring items, including excess and obsolete inventory charges related to our AI-powered motion tracking technology transition, stock-based compensation expense, employer payroll tax expense related to stock-based compensation, amortization of intangible assets, restructuring and other expenses, and acquisition-related expenses. 2Non-GAAP gross margin is non-GAAP gross profit divided by revenue.
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© Hinge Health Confidential 14 Notes: 1Non-GAAP income (loss) from operations is defined as operating income (loss) presented in accordance with GAAP, adjusted to exclude non-cash, non-operational and non-recurring items, including excess and obsolete inventory charges related to AI-powered motion tracking technology transition, stock-based compensation expense, amortization of intangible assets, restructuring and other expenses, employer payroll tax expenses related to stock-based compensation, and acquisition-related expenses. 2Non-GAAP operating margin is non-GAAP income (loss) from operations divided by revenue. Year ended December 31 ($ in millions, except percentages) 2023 2024 2025 GAAP income (loss) from operations ($131) ($32) ($546) GAAP operating margin (45%) (8%) (93%) Excess and obsolete inventory charges 10 2 - Stock-based compensation expense 2 1 643 Amortization of intangible assets <1 <1 1 Restructuring and other expenses - 8 - Employer payroll tax expense related to stock-based compensation - (6) 17 Acquisition-related expenses - 1 5 Non-GAAP income (loss) from operations1 ($118) ($26) $119 Non-GAAP operating margin2 (40%) (7%) 20% Non-GAAP income (loss) from operations and operating margin annual reconciliation
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© Hinge Health Confidential 15 Three months ended ($ in millions, except percentages) Q3’24 Q4’24 Q1’25 Q2’25 Q3’25 Q4’25 Q1'26 Q2’26 Q3’26 GAAP income (loss) from operations ($4) $21 $13 ($581) ($6) $27 $32 $40 $50 GAAP operating margin (4%) 18% 11% (417%) (4%) 16% 18% 19% 21% Excess and obsolete inventory charges - - - - - - - - - Stock-based compensation expense <1 <1 <1 591 35 17 12 19 20 Amortization of intangible assets <1 <1 <1 <1 <1 <1 <1 <1 1 Restructuring and other expenses (<1) (<1) - - - - - - - Employer payroll tax expense related to stock-based compensation - - - 14 <1 2 1 1 4 Acquisition-related expenses - 1 2 1 1 1 1 <1 3 Non-GAAP income (loss) from operations1 ($4) $21 $15 $26 $30 $48 $46 $62 $77 Non-GAAP operating margin2 (4%) 18% 12% 19% 20% 28% 25% 29% 33% Non-GAAP income (loss) from operations and operating margin quarterly reconciliation Notes: 1Non-GAAP income (loss) from operations is defined as income (loss) from operations presented in accordance with GAAP, adjusted to exclude non-cash, non-operational and non-recurring items, including excess and obsolete inventory charges related to our AI-powered motion tracking technology transition, stock-based compensation expense, employer payroll tax expense related to stock-based compensation, amortization of intangible assets, restructuring and other expenses and acquisition-related expenses. 2Non-GAAP operating margin is non-GAAP income (loss) from operations divided by revenue.
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© Hinge Health Confidential 16 Three months ended ($ in millions) Q3’24 Q3’25 Q3’26 GAAP research and development $24 $32 $37 Stock-based compensation expense (<1) (8) (8) Employer payroll tax expense related to stock-based compensation - (<1) (2) Acquisition-related expenses - (1) (<1) Restructuring and other expenses <1 - - Amortization of intangible assets - - - Non-GAAP research and development1 $24 $22 $28 Non-GAAP research and development as a % of revenue 24% 14% 12% Non-GAAP operating expenses quarterly reconciliation Notes: 1Non-GAAP research and development is defined as research and development expenses presented in accordance with GAAP, adjusted to exclude non-cash, non-operational and non-recurring items, including stock-based compensation expense, taxes related to stock-based compensation expense, restructuring and other expenses, amortization of intangible assets, and acquisition-related expenses. 2Non-GAAP sales and marketing is defined as sales and marketing expenses presented in accordance with GAAP, adjusted to exclude non-cash, non-operational and non-recurring items, including stock-based compensation expense, taxes related to stock-based compensation expense, restructuring and other expenses, amortization of intangible assets, and acquisition-related expenses. 3Non-GAAP general and administrative is defined as general and administrative expenses presented in accordance with GAAP, adjusted to exclude non-cash, non-operational and non-recurring items, including stock-based compensation expense, taxes related to stock-based compensation expense, restructuring and other expenses, amortization of intangible assets, and acquisition-related expenses. Three months ended ($ in millions) Q3’24 Q3’25 Q3’26 GAAP general and administrative $15 $37 $31 Stock-based compensation expense (<1) (19) (5) Employer payroll tax expense related to stock-based compensation - (<1) (1) Acquisition-related expenses - (<1) (2) Restructuring and other expenses (<1) - - Amortization of intangible assets - - - Non-GAAP general and administrative3 $15 $18 $23 Non-GAAP general and administrative as a % of revenue 15% 11% 10% Three months ended ($ in millions) Q3’24 Q3’25 Q3’26 GAAP sales and marketing $45 $64 $85 Stock-based compensation expense (<1) (6) (6) Employer payroll tax expense related to stock-based compensation - (<1) (<1) Acquisition-related expenses - - (<1) Restructuring and other expenses (<1) - - Amortization of intangible assets - - (1) Non-GAAP sales and marketing2 $44 $58 $78 Non-GAAP sales and marketing as a % of revenue 44% 37% 33%
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© Hinge Health Confidential 17 Notes: We define non-GAAP net income attributable to common stockholders, diluted and non-GAAP net income per share attributable to common stockholders, diluted (which we refer to as “non-GAAP diluted net income per share”) as GAAP net income (loss) attributable to common stockholders and GAAP net income (loss) per share attributable to common stockholders, diluted, respectively, adjusted to exclude non-cash, non-operational and non-recurring items, including excess and obsolete inventory charges related to our AI-powered motion tracking technology transition, as applicable, stock-based compensation, amortization of acquired intangibles, employer payroll taxes related to stock-based compensation, restructuring and other expenses, acquisition-related expenses and the income tax effects related to non-GAAP adjustments. Three months ended ($ in millions, except percentages) Q3’25 Q3‘26 GAAP net income attributable to common stockholders, diluted ($2) $57 Stock-based compensation expense 35 20 Employer payroll tax expense related to stock-based compensation <1 4 Amortization of intangible assets <1 1 Acquisition-related expenses 1 3 Income tax effect of non-GAAP adjustments (7) (23) Other dilutive (1) - Non-GAAP net income attributable to common stockholders, diluted $27 $61 Non-GAAP net income attributable to common stockholders per $0.32 $0.71 Weighted average shares used in computing non-GAAP net income per share attributable to common stockholders, diluted 85.0 86.5 Non-GAAP net income reconciliation
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© Hinge Health Confidential 18 Notes: 1We define free cash flow as net cash provided by (used in) operating activities plus cash used for employer payroll taxes at IPO related to stock-based compensation less purchases of property, equipment and software (including capitalized internal-use software). 2We define free cash flow margin as free cash flow divided by revenue. Year ended December 31 ($ in millions, except percentages) 2023 2024 2025 Net cash provided by (used in) operating activities ($64) $49 $171 Operating cash flow margin (22%) 13% 29% Adjustment for employer taxes at IPO related to stock-based compensation - - 14 Less purchases of property, equipment and software (including capitalized internal use software) (5) (4) (6) Free cash flow1 ($69) $45 $180 Free cash flow margin2 (23%) 12% 31% Free cash flow reconciliation
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© Hinge Health Confidential 19 Notes: 1We define free cash flow as net cash provided by (used in) operating activities plus cash used for employer payroll taxes at IPO related to stock-based compensation less purchases of property, equipment and software (including capitalized internal-use software). 2We define free cash flow margin as free cash flow divided by revenue. Three months ended ($ in millions, except percentages) Q3’24 Q4’ 24 Q1’25 Q2’25 Q3’25 Q4’25 Q1’26 Q2’26 Q3’26 Net cash provided by (used in) operating activities $28 $38 $5 $20 $82 $64 $43 $101 $115 Operating cash flow margin 28% 33% 4% 15% 53% 37% 24% 48% 49% Adjustment for employer taxes at IPO related to stock-based compensation - - - 14 - - - - - Less purchases of property, equipment and software (including capitalized internal use software) (1) (1) (1) (2) (1) (2) (2) (2) (2) Free cash flow1 $28 $37 $4 $33 $81 $62 $42 $100 $113 Free cash flow margin2 27% 32% 3% 23% 53% 36% 23% 47% 48% Quarterly free cash flow reconciliation
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© Hinge Health Confidential 20 We have not reconciled our non-GAAP income (loss) from operations guidance to GAAP income (loss) from operations because we do not and are not able to provide guidance for GAAP income (loss) from operations due to the uncertainty and potential variability of stock-based compensation expense, employer payroll tax expense related to stock-based compensation, amortization of intangible assets and adjustments, such as the excess inventory and transition charges, restructuring and other expense and acquisition related expense, which are reconciling items between non-GAAP and GAAP income (loss) from operations. Because such items cannot be provided without unreasonable efforts, we are unable to provide a reconciliation of the non-GAAP financial measure guidance to the corresponding GAAP measures. However, such items could have a significant impact on our future GAAP income (loss) from operations. Statement regarding use of non- GAAP financial measures in guidance
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© Hinge Health Confidential 21 Glossary of terms Term Definition Annual Yield Annual yield is calculated as the number of members at the end of a given twelve-month period divided by LTM average eligible lives. Clients Businesses or organizations, which we call entities, that have at least one active agreement with us at the end of a particular period. Entities that procure our platform through our partners are counted as individual clients. We do not count our partners as clients unless they also separately have at least one active client agreement with us. When a partner has an agreement with us for their fully-insured population, that partner is deemed to be one client, despite there being multiple fully-insured employers within that partner that have access to our platform. Contracted Lives Individuals within our contracted clients who have, or will have, the ability to enroll in our programs, typically employees and their adult dependents. Contracted lives include individuals within contracted clients that have not yet launched our platform, and thus such individuals are not yet eligible to be billed. Contracted lives include eligible lives. Electronic Health Record (“EHR”) Collection of patient health records electronically stored in a digital format. Eligible Lives Individuals within our clients that have launched our platform, and thus such individuals have the ability to enroll in our programs and are eligible to be billed. Eligible lives are a subgroup of our contracted lives. Fully-Insured Employers Employers that pay a group health insurance provider for the employees enrolled in the insurance provider’s health plan, and the insurance provider is responsible for those employees’ medical claims. HingeConnect A proprietary AI-driven database that integrates external EHRs and other data sources into Hinge Health’s technology platform for member identification and engagement. HingeConnect informs and enables highly personalized care and coordination with external providers. LTM Average Eligible Lives The average number of eligible lives calculated as the sum of eligible lives as of the first quarter and eligible lives as of the end of the last quarter in a given 12-month period, divided by two. LTM Calculated Billings Total revenue, plus the change in deferred revenue, less the change in contract assets for a given 12-month period.
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© Hinge Health Confidential 22 Glossary of terms (cont’d) Term Definition Medicare Advantage Health plan for people aged 65 and older that is managed by private insurance companies that contract with the federal government. These private insurance companies receive a set payment from Medicare, administer benefits, and bear the financial risk of claims made by plan beneficiaries. Member An eligible life, including employees and adult dependents of our clients, who has engaged with our platform at any point and whose engagement has been billed or is contractually eligible to be billed. MSK Musculoskeletal system, which refers to the performance of the locomotor system composed of intact muscles, bones, joints, and adjacent connective tissues. Net Dollar Retention (“NDR”) Total revenue generated from our clients during a particular 12-month period divided by total revenue generated from such clients during the prior 12-month period. This metric compares revenue from the same cohort of clients across comparable periods and reflects renewals, expansion, contraction, and churn. Partners Health plans, Pharmacy Benefit Managers (“PBMs”), Third-Party Administrators (“TPAs”), and other ecosystem entities such as centers of excellence and healthcare navigation companies. Pharmacy Benefit Managers (“PBMs”) Third-party companies that act as an intermediary between insurance providers and pharmaceutical companies. Return on Investment (“ROI”) Return on investment for a client is calculated as the average medical claim cost savings divided by the average subscription fee, on a per member per year basis for a given period. Self-Insured Employers Employers who bear the financial risk of medical claims for their employees and their dependents and utilize health plans for their administrative services only. Third-Party Administrator (“TPA”) Company or organization that collects and processes insurance claims and delivers support for health plans and employers.