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SWOOP The SwoopⓇ Portable MR Imaging System is Driving the Future of Brain Health Corporate Investor Deck - August 2026 AI - POWERED , PORTABLE BRAIN MRI The Hyperfine logo , Swoop , and Portable MR Imaging are registered trademarks of Hyperfine , Inc. The Swoop logo is a trademark of Hyperfine , Inc. PROPERTY OF HYPERFINE . © 2026 . All rights reserved . HYPERFINE
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PROPERTY OF HYPERFINE. ©2026. All rights reserved.2 This presentation includes “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securi ties Litigation Reform Act of 1995. Actual results of Hyperfine, Inc. (the “Company”) may differ from its expectations, estimates and projections and consequently, you should not rely on the se forward-looking statements as predictions of future events. Words such as “expect,” “estimate,” “project,” “budget,” “forecast,” “anticipate,” “intend,” “plan,” “may,” “will,” “could,” “sh ould,” “believes,” “predicts,” “potential,” “continue,” and similar expressions (or the negative versions of such words or expressions) are intended to identify such forward- looking statements. These forward-looking statements include, without limitation, expectations about the Company’s financial and operating results, including, the Company’s expected revenue, gross margin and cash burn for the full year 2026, the Company's cash runway, the Company’s goals and commercial plans, including the Company’s commercial rollout of the Company’s Optive AITM software and next generation Swoop® system, the acceleration of the adoption of the Swoop® system across multiple sites of care in the hospital, neurology office and interna tional markets, the benefits of the Company’s products and services, progress on improvements and advancements in the Company’s products and services, and the Company’s future performa nce, including its financial performance, and its ability to implement its strategy. These forward-looking statements involve significant risks and uncertainties that could cause the act ual results to differ materially from the expected results. Most of these factors are outside of the Company’s control and are difficult to predict. Factors that may cause such differences i nclude, but are not limited to: the success, cost and timing of the Company’s product development and commercialization activities, including the degree that the Swoop® system is accepted and u sed by healthcare professionals; the Company’s ability to grow and manage growth profitably and retain its key employees; changes in applicable laws or regulations; the ability of the Company to raise financing in the future; the ability of the Company to obtain and maintain regulatory clearance or approval for its products, and any related restrictions and limitation s of any cleared or approved product; the ability of the Company to identify, in-license or acquire additional technology; the ability of the Company to maintain its existing or future license, manufacturing, supply and distribution agreements and to obtain adequate supply of its products; existing and potential future National Institutes of Health funding pressures; existing and potential future effects from U.S. export controls and tariffs; the ability of the Company to compete with other companies currently marketing or engaged in the development of products and serv ices that the Company is currently marketing or developing; the size and growth potential of the markets for the Company’s products and services, and its ability to serve th ose markets, either alone or in partnership with others; the pricing of the Company’s products and services and reimbursement for medical procedures conducted using the Company’s products and se rvices; the Company’s ability to successfully complete and generate positive data from the PRIME study, ACTION PMR study, Contrast PMR study, CARE PMR study and NEURO PMR study; th e Company’s ability to generate clinical evidence of the benefits of the Company’s products and services and to progress on product advancements and improvements; the Company’s e stimates regarding expenses, revenue, capital requirements and needs for additional financing; the Company’s financial performance; and other risks and uncertainties indic ated from time to time in the Company’s filings with the Securities and Exchange Commission, including those under “Risk Factors” therein. The Company cautions readers that the foreg oing list of factors is not exclusive and that readers should not place undue reliance upon any forward -looking statements which speak only as of the date made. The Company does not undertak e or accept any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements to reflect any change in its expectations or any change in e vents, conditions or circumstances on which any such statement is based. The Company has presented certain financial information in accordance with U.S. GAAP and on a non- GAAP basis. The non-GAAP financial measure included in this presentation is net cash burn. Management uses this non-GAAP financial measure, in addition to GAAP financial measures, as a measure of operating perform ance because the non-GAAP financial measure does not include the impact of items that management does not consider indicative of the Company's core operating performance. Man agement believes that this non-GAAP financial measure, taken in conjunction with GAAP financial measures, provide useful information for both management and investors by excluding cer tain financing proceeds that are not indicative of the Company’s core operating results. Management uses non-GAAP measures to compare the Company’s performance relative to forecasts a nd strategic plans and to benchmark the Company’s performance externally against competitors. Non-GAAP information is not prepared under a comprehensive set of accounti ng rules and should only be used to supplement an understanding of the Company’s operating results as reported under U.S. GAAP. The Company encourages investors to carefully c onsider its results under GAAP, as well as its supplemental non-GAAP information and the reconciliation between these presentations, to more fully understand its business. The reconciliati on between GAAP and non-GAAP net cash burn is presented in the accompanying slides. Forward-Looking Statements
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PROPERTY OF HYPERFINE. ©2026. All rights reserved.3 State of Hyperfine Business Trajectory Transformed Mid-2025 with Next-Gen Technology & Office Market Launches 1) Changes calculated using the mid- point of the FY2026 guidance range Strong Q2 Financial Performance ~$4M Revenue Up 45% YoY >50% Gross Margin 4 th straight qtr. of +50% Improved Op Leverage & Reduced Cash Burn Healthy Balance Sheet Key Recent Milestones FDA Clearance and Launch of Advanced AI Software CE Mark & UKCA Launch of Model 2 System India Approval and First Commercial Site Contrast PMR Study ~75% Enrolled Stroke, Office Clinical Utility & HEOR Presentations / Publications Record US Scan Volumes Across Multiple Sites of Care Robust 2026 Guidance1 Revenue: $20–22M Up ~55% YoY Gross Margin: 50–55% Up ~270 bps YoY Cash Burn: $26–28M Down ~10% YoY Cash Runway into 2028 Strong Long-Term Outlook De-risked, “First in Class", Scalable Imaging Tech Growth Driven by Adoption Across 3 Verticals • US Hospitals & IDN • US Neurology Offices • International Markets R&D to Grow Clinical Utility Platform Opportunities for New Verticals
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MRI is the Clinical Gold Standard, But Capacity and Access Are Limited 4 PROPERTY OF HYPERFINE. ©2026. All rights reserved. The MRI You Know High-cost and complex site requirements limit access Limited availability leads to delayed diagnosis and care Need for highly trained personnel constrains capacity Inpatient transport increases risk of adverse events The MRI You Wish For Significantly less expensive, no shielding or siting required. Available at any healthcare facility Imaging available to support triage and point of care decision making and safe to scan “anywhere” No dedicated personnel to operate. Easy to learn how to scan No patient transport; significant cost and personnel efficiencies for critical care patients
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PROPERTY OF HYPERFINE. ©2026. All rights reserved.5 Large Market Potential Bringing MRI to Multiple Sites of Care Inpatient Settings 2025+ 2026+ Adult critical care Peds critical care Emergency departments2 Neurology offices Infusion centers Urgent care facilities Nursing homes Concierge medicine $1.5B $6B+ $16B+ Sizeable and Growing US TAM1 Through New Sites of Care 2023+ Outpatient Settings Community Settings 1) TAM Calculation Based on Number of Sites of Care (Company Estimates on File) Multiplied by US Device ASP 2) Data as of 2020 4,000+ 10,000+ 25,000+
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PROPERTY OF HYPERFINE. ©2026. All rights reserved.6 Addressing Critical Unmet Needs in Neurological Disease MRI access remains a critical gap — Swoop system brings point-of-care brain imaging to acute and chronic neurodegenerative conditions Stroke 12.2M new strokes globally / year 1.9M neurons lost every minute untreated 1 in 4 adults will have a stroke in lifetime CARE CONTINUUM Emergency Triage Bedside Diagnosis ICU Monitoring Inpatient Follow-up • Bedside MRI reduces imaging turnaround by ~18 hours, delivering stroke imaging without the conventional high-field MRI wait. • Published SVIN 2026 data showed 100% sensitivity and 100% specificity for lesions >1.0 mL. • Real-world deployment saved ~$324K in 33 weeks, supporting scalable stroke programs across health systems. • DWI-FLAIR mismatch provides a bedside “tissue clock,” helping identify treatable wake-up and unknown-onset stroke patients. Dementia 55M+ people living with dementia globally 139M projected cases by 2050 2 in 3 people with dementia remain undiagnosed CARE CONTINUUM Initial Diagnosis Disease Monitoring DMT / ARIA Monitoring Community Screening • Epidemiological studies on cognitive function, enabling large- scale research in aging, cognitive decline, and dementia. • Closing the diagnosis gap: 2 in 3 people with dementia go undiagnosed — Swoop system can bring MRI to the clinic. • One-stop clinic model: MRI + cognitive testing + biomarkers in a single nurse-led visit — being validated at Univ. of Kansas ADRC. • Supports the Alzheimer's treatment era: 100% sensitivity for ARIA- E detection in patients receiving anti-amyloid therapy.
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PROPERTY OF HYPERFINE. ©2026. All rights reserved.7 The Swoop System Transforms and Expands the Reach of Brain Imaging Diagnostic Images Captured in Multiple Sites of Care Portable, Compact Design Goes Directly to the Patient Simplified Set Up and Scanning for Broad Usability USING THE SWOOP SYSTEM IMPROVES MRI CAPACITY AND ACCESS WITH MEANINGFUL CLINICAL AND ECONOMIC BENEFIT FOR PATIENTS, CLINICIANS AND PROVIDERS
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Development, Clinical & Early Commercial FOUNDATION • First Mover Advantage • ~200 Issued Patents • First FDA-cleared AI-powered portable brain MRI system • Over 225 Installed base globally and 250,000 images • Compelling Business Model • Broad FDA-clearance for brain imaging in patients of all ages • Reimbursement in place in the U.S. under existing CPT codes in both hospital and office settings • Demonstrated strong value proposition & validated health economics in multiple sites of care • Agile Innovation • Prolific engine of fast market-driven innovation • ~2 AI-powered software releases per year • Evidence to Support Broad Clinical Utility • Clinical evidence across key clinical sites & use cases • Over 180 peer-reviewed publications and editorials & 280 scientific presentations PROPERTY OF HYPERFINE. ©2026. All rights reserved.8 Solid Fundamentals: Poised for Commercial Growth Commercial EXPANSION • Model 2 Swoop System Launch • Outstanding market feedback on Optive AI image quality • Placements in all targeted sites of care since launch • Significant increases in utilization • Commercial Expansion • Hospital: Expand to multiple new sites of care, multiple unit placements, and health systems / IDN strategy • Office: Launch into new business vertical • International: Model 2 Swoop system and latest Optive AI Software Launched in UK and Europe in mid -2026 • Scalable • Established global contract manufacturing partner • Connected ecosystem; cloud infrastructure & certifications • Strong Financials • Diversified revenue growth, attractive & expanding gross margins, spending discipline & strong operating leverage • Strengthened balance sheet, capital to fund commercial growth • Future Expansion Opportunities • Platform technology with opportunities in new anatomies, intervention support and other capabilities Next-Gen Swoop System Powered by Optive AI June 2025 Compelling STRATEGY Hospital Office International Transformative TECHNOLOGY Model 2
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Image Quality Approaching Conventional MRI 0.064T New Swoop System Powered by Optive AI Software 1.5 T Conventional MRI 9 PROPERTY OF HYPERFINE ©2026. All rights reserved. Sources: T2 images from Swoop system in 2025 and representative image from 1.5T conventional MRI
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Image Quality of Next-Gen Swoop System to Drive Broad Adoption Image Quality Approaching Conventional MRI Case Study of Swoop System vs. High-Field 3T 63-year-old female with history of prior infarct presenting with new-onset headache. Physicians performed office-based imaging with the Swoop system, demonstrating chronic infarct without evidence of acute ischemia. Old Infarct T 1 (High-field 3T) FLAIR (High-field 3T) T1 (Gray/White) (Swoop System) FLAIR (Swoop System) 10 PROPERTY OF HYPERFINE. ©2026. All rights reserved. Sources: Images from NEURO-PMR study (Case 040)
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AI-Enabled Imaging Software POWERING THE FUTURE OF PORTABLE MRI Available on all Swoop systems A leader in FDA cleared AI-enabled devices Reduces noise and blur with deep learning, enhances image clarity and consistency, provides sharper anatomical detail to support confident diagnoses at the point of care Advanced, AI-driven image reconstruction to ultra-low field MRI—unlocking clearer images at lower field strengths 11 Generations of AI-enabled software . Source: U.S. FDA Artificial Intelligence-Enabled Medical Devices List (July 10, 2025) . 11 PROPERTY OF HYPERFINE. ©2026. All rights reserved.
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PROPERTY OF HYPERFINE. ©2026. All rights reserved.12 Robust Commercial Growth Strategy Driven By 3 Diversified Business Verticals 2020 2022 2024 2026 Initial FDA Clearance US HOSPITAL INTERNATIONAL US NEUROLOGY OFFICE NEURO PMR CONTRAST PMR (ongoing) PRIMEACTION PMR Model 2 Swoop FDA Clearance Model 2 Swoop UK/CE Clearance Initial UK/CE Clearance Initial India Clearance ----------------------- 11 generations of AI-enabled software ----------------------- IAC Accreditation Published HEOR Paper ------ Cadence of AI-enabled software Critical Care (Adult & Pediatric) IDNsEmergency Departmen t Hospital Clinics
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Hospital Business 13 PROPERTY OF HYPERFINE. ©2026. All rights reserved. • Compelling clinical utility in critical care, emergency triage, neurosurgery and neuro follow up in adults & peds • Strong economic value proposition o Swoop system scans qualify for existing reimbursement (CPT 70551) o Opportunity to increase revenue, cost savings and optimized care o Published peer reviewed health economic paper Q4’25 o 1–1.5-year breakeven versus 3–4 years for typical capital equip. • Potential for multiple systems within same hospital o ICUs, Emergency departments & Hospital-based clinics • Sales Cycle can be quicker in same Health Systems / IDN o ~60–70% of US hospitals part of Health Systems / IDNs • Strong market activation from launch of Model 2 Swoop system powered by Optive AI software o Outstanding radiology feedback on image quality o Strong inbound interest Including new use cases (e.g. neurosurgery) o Robust pipeline of multiple unit deals & health system discussions o Realizing higher ASP supported by Model 2 system
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Office Business PROPERTY OF HYPERFINE. ©2026. All rights reserved. • A typical neurologist orders 500–600 MRIs annually1,2 for neurologic conditions such as headaches, dementia, tumor, MS, surgery follow-up • 90% of private neurology practices don’t have on-site MR imaging3 • Affordable and appealing, plug-and-play Swoop system o No specialized siting, no helium or electrical infrastructure, & no MRI technologist required4 • Strong economic value proposition validated with data o Opportunity to add incremental revenue stream & improve patient experience o Swoop system scans qualify for existing reimbursement (CPT 70551) o IAC Accreditation enables medical offices to qualify for CMS reimbursement • Office has shorter sales cycle and fewer decision-makers than hospital business • Initial market adoption following launch in the new neurology office segment o Growing engagement with neurology practices, supported by the NeuroNet partnership, and NEURO PMR data o Product segmentation strategically used to optimize office pricing 1) https://practicalneurology.com/diseases-diagnoses/imaging-testing/viewpoints-why-neuroimaging-plays- a-critical-role-in-shaping-the-future-of-neurology/30403/ 2) Source: Mindfrog market research (data on file) 3) The practice of neuroimaging within a neurology office setting, 2013 American Academy of Neurology 4) IAC Standards and Guidelines for MRI Accreditation. State regulations vary. 14 PROPERTY OF HYPERFINE. ©2026. All rights reserved.
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International Business 15 PROPERTY OF HYPERFINE. ©2026. All rights reserved. • Compelling clinical utility transferable globally • Selling primarily into the hospital setting, demonstrated value proposition in remote settings • Optive AI software launched in 10 European languages in Q1’26 • CE Mark and UKCA Mark approvals for both the Model 2 Swoop system and latest Optive AI software supporting key European market launches mid-2026 • Model 2 Swoop system referenced in France’s largest public hospital procurement body1 to facilitate nationwide purchases of portable MRI technology • India CDSCO approval in December 2025 for Model 1 Swoop system • Network of reference sites and key opinion leaders globally through Gates Foundation partnership 1) https://www.uniha.org/qui-sommes-nous/uniha-union-hopitaux-achats Model 1 Swoop system Model 2 Swoop (Mid-26 European Launch)
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PROPERTY OF HYPERFINE. ©2026. All rights reserved.16 Scalable Commercialization with US Direct Sales and Global Distribution Network DISTRIBUTORS INSTALLED BASE Over 225 Swoop Systems Globally1 10+ Markets (2 FTE in Total) 1) Installed base includes commercial and research units as of June 2026. Healthy US Pricing & Recurring Revenue DIRECT Dedicated Selling & Implementation Teams (~15 FTE in Total) Swoop System MSRP (Hospital CAPEX) Swoop System Manufactured in U.S. by Global Contract Manufacturer Partner
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PROPERTY OF HYPERFINE. ©2026. All rights reserved.17 Innovation: Product and Clinical Evidence AI-powered software releases, targeted labeling expansion and new use cases to broaden clinical utility Product Innovation ▪ Model 2 Swoop system powered by Optive AI software, launched mid-2025, delivers a substantial improvement in image quality ▪ Advanced multi-direction DWI sequence, FDA cleared December 2025, improves image quality and diagnostic confidence for stroke detection at the point of care ▪ Recurring cadence of ~2 AI-powered software releases per year. Next release planned 2H 2026 ▪ Pilot activities for planned new use cases in 2H 2026: Neurosurgery and Mobile use Clinical Evidence & Expansion ▪ NEURO PMR data presented: Portable MRI showed 92% concordance with high-field MRI, with patients 4x more likely to choose it in neurology offices. Publication pending ▪ Published stroke study (SVIN): Next-generation DWI detected lesions as small as 2.8 mm, with 100% sensitivity and specificity for lesions over 1 mL ▪ Recent peer-reviewed publications (July 2026): Journal of Neurosurgery case series documents on-site imaging immediately after endovascular neurosurgery to enable same-day discharge, while a Stroke focused series establishes low-field MRI's value across the stroke continuum. ▪ Contrast PMR study1: Enrolling to assess gadolinium- enhanced imaging — used in a meaningful share of brain MRIs (tumors, MS, abscesses) and reimbursed under dedicated outpatient CPT codes — with FDA submission targeted by end-2026 to expand intended use. 1) Investigational - not FDA cleared
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PROPERTY OF HYPERFINE. ©2026. All rights reserved.18 Demonstrated Growth and Financial Discipline Mid-2025 commercial transformation now translating into durable financial progress 1. Cash burn is calculated as change in cash and cash equivalents less net financing proceeds, which includes shares issued unde r the Company’s “at-the-market” offering program USD (Millions) Q2’26 Q2’25 YoY Change Revenue $3.9M $2.7M 45% Gross Margin 50.7% 49.3% 146 bps Operating Loss $(8.5)M $(9.6)M 12% Net Cash Burn1 $(7.9)M $(8.1)M 3% Cash, and Cash Equivalents $43.5M $25.4M N/A
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$2.1 $2.7 $3.4 $5.3 $3.9 $3.9 Q1'25 Q2'25 Q3'25 Q4'25 Q1'26 Q2'26 PROPERTY OF HYPERFINE. ©2026. All rights reserved.19 Multiple Catalysts Driving a Durable Revenue Trajectory 2H’26 & 2027 Revenue Catalysts Expanded Sites of Care • Growing adoption in ED, hospital clinics, and critical care environments • IDN & multi-system placements International Market Expansion • CE Mark and UKCA launch for Model 2 Swoop system • India market entry Contrast Imaging Potential • Opportunity to expand clinical indication and utility of Swoop system • Outpatient Brain MRI exams reimbursed using dedicated CPT codes Model 2 Swoop system powered by Optive AI software US Model 2 Swoop System & Optive AI SW Launches US Neurology Office Market Launch 1 1) Included multi-unit system for-charge technology upgrades Net Units Sold 6 8 8 16 10 12
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$29.9 0 5 10 15 20 25 30 35 40 2025 2026 Est. 1) Cash burn is calculated as change in cash and cash equivalents less net financing proceeds, which includes shares issued unde r the Company’s “at-the-market” offering program, the Company’s February 2025 registered direct offering, and the Company’s October 2025 underwritten public offering. Cash and cash equivalents were $37.6 million as of December 31, 2024, and $35.1 million as of December 31, 2025; and net financing proceeds in the aggregate were $27.3 million for the year ended December 31, 2025. 2) $40 million senior secured term loan facility, with initial tranche of $15 million at closing and an additional $25 million a vailable upon achievement of certain commercial milestones through December 2027 $13.6 49.8% 2025 2026 Est. 0.17 0.22 0.27 0.32 0.37 0.42 0.47 0.52 0 5 10 15 20 25 2025 2026 Est. REVENUE AND GROSS MARGIN PROPERTY OF HYPERFINE. ©2026. All rights reserved.20 Solid Financial Fundamentals CASH BURN1 Strong Revenue Growth and Realizing Operating Leverage Key Takeaways • Transitioned to Commercial Stage Organization in 2025 • Model 2 Swoop System Launched Mid’25 in U.S. • Office Market Launched Mid’25 in U.S. • New Technology, US Site of Care Expansion and International Drive Revenue Growth • Volume, Pricing and Efficient Mfg. & Operations Drive GM% Expansion • Lean Organization Focused on Commercial Execution Drives Cash Burn Reductions as Revenue Scales • Raised Over $30M in Equity Since Q4’25 • Secured a Term Loan Facility of up to $40M 2, with a $15M Initial Tranche in Q1’26 • $43.5M of Cash and Cash Equivalents as of June 30, 2026, with Expected Cash Runway into 2028 Gross Margin % Revenue FY26 Guidance GM%: 50-55% FY26 Guidance $26-$28M $20-$22M
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Hyperfine’s Miniaturized MRI Technology Drives the Future of Imaging A suite of proprietary imaging technologies and know-how that enable Miniaturized MRI for a full range of applications with proven usability & scalability PROPERTY OF HYPERFINE. ©2026. All rights reserved.21 More Than a Portable Brain MRI Company...
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Platform Technology Expansion Opportunities Hyperfine CORE Technology is Well Positioned to Deliver in Multiple Markets with Additional Growth and Value-added Services1 Neuro Expansion Platform expansion: Anatomy and Applications Software and Services Expanded sequence offering Contrast PMR Study (Contrast agents) Mobile for acute care and private practice Intraoperative use Diabetic foot Breast Teleradiology integration PULSE (Developer subscription) AI-powered clinical decision support SaaS Open developer ecosystem App marketplace Data exchange platform Next FutureNow C-spine Interventions platform Mobile brain health Screening services Neonatal imaging System accessories PROPERTY OF HYPERFINE. ©2026. All rights reserved.22 1) Forward-looking; see slide 2. Subject to regulatory clearance and other risks.
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PROPERTY OF HYPERFINE. ©2026. All rights reserved.23 Leadership Team With Proven Track Record of Success Maria Sainz President and Chief Executive Officer Brett Hale Chief Administrative Officer and Chief Financial Officer Tom Teisseyre, PhD Chief Operating Officer Rob Fasciano, PhD Chief Regulatory and Quality Officer Rafael Donnay Senior Vice President of Hospital Business Chi Nguyen Senior Vice President of Office and Community Business Todd Finch Vice President of US Sales Edmond Knopp, MD Chief Medical Officer Rafael O’Halloran, PhD Vice President of Technology Eric Willis Vice President of International Leslie Grab General Counsel
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PROPERTY OF HYPERFINE. ©2026. All rights reserved.24 Hyperfine, Inc. Opportunity Large TAM • $16B+ US device market across inpatient, outpatient and community settings • Global opportunity Strong Proprietary First-Mover Position • Portable MR category leader • First FDA-clearance • ~200 issued patents • ~250,000 ULF images • Over 225 Installed base globally Broad Indications and Applicability • Brain imaging of patients of all ages • Safe in multiple sites of care • Used in large neuro disease populations Prolific Innovation Engine • Image quality approaching conventional MRI • ~2 AI-powered software releases per year Vast Clinical and Economic Evidence • Over 180 Peer Reviewed Clinical & Health Economic publications • Continued pipeline of evidence including NEURO PMR and Contrast PMR Reimbursement in Place • Existing Outpatient CPT codes in both hospital and office settings • IAC accreditation Diversified Revenue • Multiple growth catalysts across hospital, office and international verticals • IDN and multi-unit hospital placements • Recurring revenue stream Strong Financial Profile • Rapid topline growth • 50%+ Gross Margin and growing with scale • Operating leverage, capital efficient and cash runway into 2028 Attractive Platform Expansion Opportunities • Expansion into contrast imaging, additional sites of care, new anatomies, and clinical decision support