EQUITY INCENTIVE PLAN (Tables)

12 Months Ended

Dec. 31, 2021

Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]

Summary of Stock Option Activity

A summary of the stock option activity under the Hyperfine Plan is presented in the table below:

	Number of Options			Weighted Average Exercise Price		Weighted Average Remaining Contractual Term		Aggregate Intrinsic Value
Outstanding at January 1, 2021		1,903,479		$	0.87	7.07		$	2,073
Granted		6,771,237			3.37
Exercised		(565,533	)		2.65
Forfeited		(587,047	)		3.86
Outstanding at December 31, 2021		7,522,136		$	3.21		8.79	$	30,052
Options exercisable at December 31, 2021		2,332,624		$	2.98		7.82	$	9,785
Vested and expected to vest at December 31, 2021		7,117,220		$	3.20		8.77	$	28,445

Assumptions Used to Value Option Grants to Employees and Nonemployees

The assumptions used to value option grants to employees and nonemployees for the years ended December 31, 2021 and 2020 were as follows:

	2021	2020
Risk Free interest rate	0.95% - 1.13%	1.5% - 1.7%
Expected dividend yield	0%	0%
Expected term	5.40 years - 6.17 years	5.8 years - 6.0 years
Expected volatility	70%	60%

Summary of Stock Options Granted

The stock options granted to the Company's employees and nonemployees for the periods presented were as follows:

	2021		2020
Stock options granted to employee		3,534,844		897,240
Stock options granted to nonemployee		3,236,393		284,816
Total stock options granted		6,771,237		1,182,056

Key Assumptions Used in Valuation for Earn-Out Shares

The key assumptions used in the valuation were as follows:

	2021
Stock Price	10.92
Risk Free interest rate		0.96	%
Expected dividend yield		0.0	%
Term (years)	3
Expected volatility		54.5	%

Summary of Stock-Based Compensation Expense

The Company’s stock-based compensation expense for the periods presented was as follows:

	2021		2020
Cost of sales - Device	$	12	$	—
Cost of sales - Service		12		—
Research and development		1,327		864
General and administrative		5,482		231
Sales and marketing		68		22
Total stock-based compensation expense	$	6,901	$	1,117