HNGE — what changed in the latest 10-Q
A section-by-section comparison of HNGE's newest periodic SEC filing (10-K/10-Q) against the prior same-form filing: paragraphs added and removed per section, with verbatim excerpts. Purely a deterministic text diff — no similarity scores, no directional read, not investment advice.
Comparing 10-Q · 2026-08-06 vs the prior 10-Q · 2026-05-07
| Section | Outcome | Added | Removed | Minor | Unchanged |
|---|---|---|---|---|---|
| MD&A | Text added/removed | +27 | −21 | ~30 | 33 |
| Market risk (Item 3) | Text added/removed | 0 | 0 | ~2 | 2 |
| Controls & procedures | Text added/removed | 0 | 0 | ~1 | 3 |
| Legal proceedings | No paragraph-level changes | 0 | 0 | 0 | 1 |
| Risk factors | Text added/removed | +8 | −6 | ~30 | 396 |
| Other information | Text added/removed | +5 | 0 | ~1 | 0 |
Counts are paragraphs; added/removed means text added or removed vs the prior filing — no direction or judgement implied.
Representative excerpts
Up to 5 excerpts of about 300 characters per section, quoted verbatim from the two SEC filings.
MD&A
Text added vs the prior filing · source: 10-Q · 2026-08-06
We are able to bill our clients once an eligible life enrolls in our platform and performs a billable activity, in accordance with our clients’ billing arrangements. Most of our clients are billed through an engagement-based pricing model based on an annual upfront platform fee per member plus a fee…
On August 4, 2026, we announced that we entered into a definitive agreement to acquire Cylinder Health, Inc. The transaction is subject to customary closing conditions and is expected to close in the third quarter of 2026. The acquisition will combine Cylinder Health’s clinical expertise and existin…
We see opportunities to expand beyond our current markets of self-insured and fully-insured employers, Medicare Advantage plans, and federal insurance plans. We currently primarily cover eligible lives within the United States and also offer our global program in multiple international countries, fo…
Given our typical sales cycle, we experience seasonality in our business that has historically resulted in higher calculated billings and related costs during certain periods. A majority of clients enter contracts with us in the second half of each calendar year, in line with the typical employee be…
Cost of revenue for the three months ended June 30, 2026 decreased by $12.5 million, or 30%, compared to the three months ended June 30, 2025. The decrease was due to a decrease of $15.3 million in stock-based compensation expense, which was related to the satisfaction of certain vesting criteria fo…
Text removed vs the prior filing · source: 10-Q · 2026-05-07
We are able to bill our clients once an eligible life enrolls in our platform and performs a billable activity, in accordance with our clients’ billing arrangements. Some of our clients are billed for the entirety of the members’ annual subscriptions, and some are billed in milestone-based payments,…
We see opportunities to expand beyond our current markets of self-insured and fully-insured employers, Medicare Advantage plans, and federal insurance plans. We currently primarily cover eligible lives within the United States and we are in the early stages of our global expansion. We offer our glob…
Given our typical sales cycle, we experience seasonality in our business that has historically resulted in higher calculated billings and related costs during certain periods. A majority of clients enter contracts with us in the second half of each calendar year, in line with the typical employee be…
Cost of revenue for the three months ended March 31, 2026 increased by $4.5 million, or 19%, compared to the three months ended March 31, 2025. The increase was due to an increase of $3.7 million in inventory costs, $1.0 million in hosting costs and $0.8 million in stock-based compensation expense, …
Gross margin for the three months ended March 31, 2026 increased by four percentage points compared to the three months ended March 31, 2025. The increase was primarily due to an increase in efficiencies related to our care team and supply chain operations.
Risk factors
Text added vs the prior filing · source: 10-Q · 2026-08-06
We are expanding into migraine care, a new therapeutic area for us, and our migraine care program may not achieve the clinical outcomes, member engagement, or commercial success we anticipate.
We recently began offering our migraine care program to clients, leveraging our Enso device and digital care platform. Our Migraine Care Program represents an expansion into a new therapeutic area beyond our core musculoskeletal offerings, and we have limited operating history with respect to our mi…
The expansion of HingeSelect to include orthopedic surgery introduces new clinical, operational, and commercial risks that could adversely affect our business.
We recently expanded HingeSelect to include orthopedic surgery, extending our musculoskeletal care platform to cover the full care journey from first-line treatment through post-operative recovery. This expansion represents a significant addition to our offerings and involves clinical, operational, …
Future transfers by holders of our Class B common stock will generally result in those shares converting to Class A common stock, subject to limited exceptions, such as certain transfers effected for estate planning purposes. The conversion of Class B common stock into Class A common stock will have…
Text removed vs the prior filing · source: 10-Q · 2026-05-07
In addition, future transfers by holders of our Class B common stock will generally result in those shares converting to Class A common stock, subject to limited exceptions, such as certain transfers effected for estate planning purposes. The conversion of Series E preferred stock into Class B commo…
Shares of our Series E preferred stock originally issued to investors remain outstanding. Such shares are held by one holder of our Series E preferred stock, Tiger Global, and the holder of Series E preferred stock has rights that could impact the value of our Class A common stock and impact our bus…
2,581,837 shares of our Series E preferred stock are outstanding and have rights that could impact the value of our Class A common stock and impact our business and operations. Subject to certain exceptions, at any time we issue additional shares of our capital stock without consideration or for con…
Each share of our Series E preferred stock is initially convertible at any time into one share of Class B common stock (subject to any anti-dilution adjustments) at the option of the holder and is not mandatorily redeemable. Each share of our Series E preferred stock will not be convertible into Cla…
Our independent registered public accounting firm is not required to formally attest to the effectiveness of our internal control over financial reporting until after we are no longer an “emerging growth company” as defined in the JOBS Act. At such time, our independent registered public accounting …
Other information
Text added vs the prior filing · source: 10-Q · 2026-08-06
On May 29, 2026, James Budge, our Chief Financial Officer, terminated his trading plan, intended to satisfy the affirmative defense of Rule 10b5-1(c), which was adopted on June 12, 2025 (the “Prior Budge 10b5-1 Plan”), and was scheduled to expire at the earlier of the execution of all trading orders…
On June 11, 2026, Mr. Budge adopted a single Rule 10b5-1 trading arrangement intended to satisfy the affirmative defense conditions of Rule 10b5-1(c) providing for the potential sale of up to (i) 140,723 shares of our Class A common stock and (ii) 154,191 shares of our Class A common stock issuable …
On June 11, 2026, Daniel Perez, our Chief Executive Officer and Co-Founder, and Suthasini Mogun, Mr. Perez's spouse, adopted a single Rule 10b5-1 trading arrangement intended to satisfy the affirmative defense conditions of Rule 10b5-1(c) providing for the potential sale of up to (i) 400,000 shares …
On June 12, 2026, James Pursley, our President, adopted a single Rule 10b5-1 trading arrangement intended to satisfy the affirmative defense conditions of Rule 10b5-1(c) providing for the potential sale of up to an aggregate of 150,000 shares of our Class A common stock. The trading plan will termin…
On June 12, 2026, Gabriel Mecklenburg, our Co-Founder and Executive Chairman, adopted a single Rule 10b5-1 trading arrangement intended to satisfy the affirmative defense conditions of Rule 10b5-1(c) providing for the potential sale of up to (i) 600,000 shares of our Class A common stock issuable up…
How to read Risk Factors (Item 1A) in a 10-Q
A 10-Q risk-factor section usually takes one of three forms; this page classifies it as one of:
- Pointer — the filer states there have been no material changes and points back to the annual 10-K risk factors; there is no own risk text to compare this quarter.
- Partial update — the filer carves out specific updated risks ("except as set forth below"); the excerpts show exactly what is new this quarter.
- Restated in full — the quarter carries the complete risk-factor text. When the prior quarter was only a pointer there is no prior full text to diff against, so the page flags the section as restated instead.
This describes the filing structure only — it is never a judgement on whether risk went up or down.
Source: text-level diff of the two SEC EDGAR filings · deterministic (no AI-generated content) · for reference only · not investment advice