Insight Partners-backed Hinge Health valued at $3.7 billion in strong NYSE debut

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By Pritam Biswas

(Reuters) -Hinge Health’s shares jumped nearly 23% in their New York debut on Thursday, fetching the digital health platform a valuation of $3.65 billion and signaling a recovery in investor appetite for new flotations after tariff-turbulence had jolted the markets.

The shares opened at $39.25 per share, compared with their offer price of $32, at which Hinge and some shareholders sold 13.67 million shares to raise $437.3 million on Wednesday. 

But the latest valuation is a big step down from the $6.2 billion the company achieved in a 2021 funding round.     Activity in the U.S. IPO market has declined after a strong start in 2025 due to an ever-evolving tariff environment, geopolitical uncertainty and inflationary pressures.     Ticket reseller StubHub and Swedish fintech firm Klarna recently delayed their public offerings, citing foggy macroeconomic conditions.     But the latest pause in extra U.S. tariffs on Chinese imports has helped investor confidence and prompted a few companies to test the troubled waters.     Israeli trading platform eToro received an overwhelming response in its Nasdaq debut last week. Its shares had surged 34% at open.

Shares of MNTN, an advertising platform for internet-connected TVs, jumped over 31% in their debut on Thursday as well.

“Public investor reception to Hinge with its strong financials may not translate to demand for less profitable IPO candidates – still, a strong listing could spur more IPOs in the sector this year,” said Aaron DeGagne, analyst at Pitchbook.

Hinge provides virtual physical therapy and personalized care programs focused on musculoskeletal conditions such as back, joint and muscle pain.

Omada Health, another digital healthcare company, which focuses on chronic condition management, has also filed to go public.

(Reporting by Pritam Biswas in Bengaluru; Editing by Shinjini Ganguli)