Heartflow, Inc. Common Stock

HTFL

$49.69

-0.63%

2026-09-03 13:11:04 EDT-$0.32

Healthcare

Medical - Healthcare Information Services

NASDAQ

Active Trading

HeartFlow, Inc. operates as a global medical technology firm, specializing in providing non-surgical solutions for the diagnosis and ongoing management of coronary ...

Price Action of HTFL

$49.69

-0.63%-$0.32

High—

Low—

52W High-4.0%

Rel. vol—

Interval

Range6.5h

Volume—SMA5SMA10

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HeartFlow, Inc. (Nasdaq: HTFL), founded in 2007 and based in San Francisco, California, is a medical technology firm focused on transforming the diagnosis and management of coronary artery disease (CAD). The company's flagship offering, the HeartFlow Platform, leverages artificial intelligence and computational fluid dynamics to reconstruct a detailed 3D model ...HeartFlow, Inc. (Nasdaq: HTFL), founded in 2007 and based in San Francisco, California, is a medical technology firm focused on transforming the diagnosis and management of coronary artery disease (CAD). The company's flagship offering, the HeartFlow Platform, leverages artificial intelligence and computational fluid dynamics to reconstruct a detailed 3D model of the coronary arteries from standard coronary computed tomography angiography (CCTA) images. This non-invasive tool provides critical insights into blood flow, arterial narrowing, and plaque composition, helping clinicians make more accurate decisions and reduce the need for invasive procedures. HeartFlow operates in the United States, Europe, and Japan, and serves over 1,800 medical institutions, with its technology supported by extensive clinical evidence. Since its IPO in August 2025, the company has focused on expanding its commercial footprint and advancing its platform through R&D, with R&D expenditures accounting for nearly 38% of revenue. Financially, HeartFlow generates revenue primarily from subscriptions and per-case fees, but remains unprofitable as it invests heavily in growth; its TTM net margin is -58.4%, driven by high operating expenses. The company's leadership, including CEO John Farquhar, emphasizes a mission to reduce unnecessary cardiac procedures and healthcare costs while improving patient outcomes. With a strong balance sheet—current ratio of 5.6 and minimal debt—HeartFlow aims to achieve profitability as adoption scales. Key partnerships, regulatory approvals, and ongoing clinical trials are central to its strategy, positioning it as a pioneer in AI-powered precision cardiology.ExpandCollapse

Founded

2007

Employees

843

CEO

John Farquhar

Full Name

Heartflow, Inc. Common Stock

Sector

Healthcare

Industry

Medical - Healthcare Information Services

ROE

-42.25%

Market Cap

$4.28B

Current Ratio

5.08

WACC

14.37%

ROIC

-56.12%

Contact Information

https://www.heartflow.com

650-241-1221

135 Main Street, San Francisco, CA 94105

Key Metrics of HTFL

Snapshot

Latest / TTM · 4 periods

Market Cap

$4.28B

ROCE

-24.2%

EV / EBITDA

-39.52x

-4.0% YoY

FCF Yield

-1.4%

+1.0% YoY

Cash Conversion Cycle

30.9d

Current Ratio

5.08

Quick take

TTM —

Positive CCC

Financial Highlights of HTFL

Profitability trend

Latest / TTM · 4 periods

Gross Margin

80.1%

Net Margin

-55.8%

P/E Ratio

-34.99x

n/a

Debt / Equity

0.10

n/a

Current Ratio

5.08

Dividend Yield

0.0%

Understanding

TTM —

Interest coverage is weak

Calendar of HTFL

Upcoming

Sep 30, 2026In 26 days
Q3 FY2026 · Estimated results
Est. EPS $-0.10 · Revenue $65.27M · 6 analysts
Dec 30, 2026
Q4 FY2026 · Estimated results
Est. EPS $-0.09 · Revenue $66.78M · 6 analysts
Dec 31, 2026
FY2026 · Estimated annual results
Est. EPS $-0.42 · Revenue $248.94M · 5 analysts
Mar 30, 2027
Q1 FY2027 · Estimated results
Est. EPS $-0.08 · Revenue $71.62M · 2 analysts

Recent history

Aug 13, 2026
Q2 FY2026 · Results reported
EPS $-0.18 · Revenue $64.08M
View filing
May 14, 2026
Q1 FY2026 · Results reported
EPS $-0.32 · Revenue $52.59M
View filing
Mar 18, 2026
FY2025 · Annual results
EPS $-1.37 · Revenue $176.03M
View filing
Nov 12, 2025
Q3 FY2025 · Results reported
EPS $-0.63 · Revenue $46.28M
View filing
Sep 19, 2025
Q2 FY2025 · Results reported
EPS $-0.11 · Revenue $43.42M
View filing
Aug 7, 2025
IPO

Financial Statements of HTFL

5Y Trend (Revenue, Earnings, FCF)

Metric	Latest	YoYYoY means Year-over-Year. It compares the latest annual value with the previous annual value to show long-term trend strength.	QoQQoQ means Quarter-over-Quarter. It compares the latest quarter with the immediately previous quarter to show short-term momentum changes.
RevenueThe total money that came through the front door from selling things, before paying a single bill. Think of it as the grand total of every credit card swipe from customers. (YoY compares this year to last year's performance, while QoQ compares the current three months to the previous three).	$176.0M	+39.9%	+21.9%
Net IncomeThe absolute bottom line. If the company paid every single supplier, employee, banker, and tax collector, this is the actual money left in their pocket at the end of the day.	$-116.8M	-21.1%	+42.5%
Gross MarginThe basic markup. If they sell a $100 pair of sneakers, this percentage tells you how much of that price tag is profit right after paying for the rubber and shoelaces, but before paying for things like store rent or TV commercials.	+76.8%	+2.3%	+3.5%
Operating MarginThe 'day job' efficiency score. Out of every dollar a customer spends, this shows how many cents the company keeps after making the product AND paying for all the everyday corporate overhead (like salaries, marketing, and keeping the lights on).	-36.4%	+25.2%	+33.3%
Net MarginThe final take-home percentage. When you strip away every conceivable cost, tax, and interest payment, this is the exact number of cents the company truly gets to keep from every dollar in sales.	-66.3%	+13.4%	+52.8%
Free Cash FlowThe holy grail of corporate cash. It's the spendable, physical money left over after the business pays for its daily operations AND buys the big, expensive upgrades (like new factories or servers) it needs to survive. This is the 'free' money they can use to pay dividends or buy back stock.	$-59.0M	+19.5%	+67.2%
FCF MarginThe ultimate cash conversion rate. It shows how good the company is at turning regular sales directly into cold, hard, spendable cash. A high percentage means the business is an absolute cash-printing machine.	-33.5%	+42.5%	+73.1%
Debt / EquityThe financial risk gauge. It compares how much of the company's empire was built using borrowed money (loans) versus the owners' own money (shareholders). A high number means they are heavily leveraged and playing a riskier game; a low number means they are playing it safe.	7.3%	+139.3%	+5.2%
Current RatioThe 12-month survival check. It simply compares the cash they have right now (plus things they can quickly turn into cash) against the immediate bills they absolutely must pay this year. A score above 1 means they have enough in the wallet to cover the upcoming bills without panicking.	5.20x	+112.2%	-8.8%
Total AssetsThe absolute size of the company's empire. It bundles together absolutely everything of value they own—from the cash in the register and the inventory in the warehouse, to the software patents in the vault and the factories on the ground.	$359.5M	+202.8%	+0.1%

Actual vs Estimate

A Dec 31Q Sep 30

Metric	Annual (A vs E)	Annual Surprise	Quarter (A vs E)	Quarter Surprise
EPS Surprise	-1.37 vs -1.93	+29.1%	-0.18 vs -0.10	-71.4%
Revenue Surprise	$176.0M vs $173.4M	+1.5%	$64.1M vs $65.3M	-1.8%

Insider Transactions of HTFL

Acquisitions (A)

Since Aug 7, 2026

Disposals (D)

Since Aug 7, 2026

Monthly shares of acquisitions/disposals with close price trend (shared daily price source)

Insider Trading Snapshot

Date	Executive	Title	Security	Side	Shares	Price
Aug 21, 2026	Farquhar John C.M.	director, officer: Chief Executive Officer	Common Stock	D	27,230	$50.00
Aug 18, 2026	Farquhar John C.M.	director, officer: Chief Executive Officer	Common Stock	D	32,676	$45.00
Aug 17, 2026	Rogers Campbell	officer: Chief Medical Officer	Common Stock	A	9,219	$19.00
Aug 17, 2026	Rogers Campbell	officer: Chief Medical Officer	Common Stock	D	9,219	$41.23
Aug 17, 2026	Rogers Campbell	officer: Chief Medical Officer	Stock Options	D	9,219	$19.00

Earnings Call Transcript of HTFL

1 transcript segments

Q2 2026

Unknown Speaker

Operator: Thank you. Good day and thank you for standing by. Welcome to the HeartFlow Inc. second quarter 2026 earnings call. [Operator Instructions] Please be advised today's conference is being recorded. I would like to hand the conference over to your speaker today, Nick Laudico. Please go ahead. Nicholas Laudico: Good afternoon, everyone, and welcome to the HeartFlow second quarter 2026 earnings conference call. Joining me today are John Farquhar, HeartFlow's President and Chief Executive Officer, and Vikram Verghese, our Chief Financial Officer. Today we will walk you through our Q2 performance, share updates on our commercial momentum, innovation pipeline, and clinical programs, and provide financial guidance. A live Q&A session will follow. The earnings release accompanying today's discussion is available on our Investor Relations website at ir.heartflow.com. During this call, we will refer to certain non-GAAP financial measures. Reconciliations to the most comparable GAAP figures can be found in today's earnings release. I'd like to remind everyone that certain statements made on this call are forward-looking within the meaning of federal securities laws. These statements are based on management's current expectations and beliefs, involve certain risks and uncertainties, and actual results may differ materially. Please note that both this live call and a digital replay will be available shortly after the call concludes. With that, I will now turn the call over to John Farquhar, our CEO. John Farquhar: Thank you for joining us. Q2 is an outstanding quarter for HeartFlow and the momentum that we entered 2026 with is accelerating. Our year-over-year revenue growth accelerated for the second consecutive quarter and we finished ahead of our expectations, a credit to our expanding category leadership and the continued strong growth of the CCTA market. It's also a credit to the outstanding efforts of the HeartFlow team and their continued dedication to the patients we serve. Thank you all for your hard work and commitment. In the second quarter, revenue was $64.1 million, up 48% year-over-year, with U.S. revenue up 51%. This was our fastest revenue growth in 8 quarters. Four factors drove this performance. First, Plaque accelerated across new activations and physician utilization. Second, FFRCT utilization remained durable across our existing accounts. Third, we had another strong quarter for new account additions, and the record cohort of 340 accounts we added in 2025 continued to ramp in line with our expectations. And finally, the underlying CCTA market continued to expand, supported by guidelines and strong reimbursement and growing interest in the CT as a frontline diagnostic test for suspected CAD. The strength of our second quarter performance gives us confidence to raise our full-year outlook again. We're now expected to deliver total revenue of $246 million to $250 million, representing 40% to 42% year-over-year growth. We're also …

Leadership Team of HTFL

10 executives

Name	Title	Compensation	Gender	Year Born	Status
John Farquhar	President, Chief Executive Officer & Director	USD 1,439,891	Male	1973	Active
Campbell Rogers FACC	Chief Medical Officer & Executive Vice President	USD 1,101,090	—	1961	Active
Vikram Verghese	Chief Financial Officer	USD 757,919	Male	1985	Active
Angela Ahmad	Chief Legal & Compliance Officer	—	Female	—	Active
Kathleen Carey	Senior Vice President of Operations	—	Female	—	Active
John Henry Stevens	Co-Founder	—	—	1961	Active
Mhairi L. Jones	Chief Accounting Officer	—	—	—	Active
Justin Cambra	Chief Technology Officer	—	Male	—	Active
Nicholas S. Laudico	Vice President of Investor Relations	—	Male	—	Active
Shivanth Bhaskaran	Chief Commercial Operations & Customer Success Officer	—	Male	—	Active

Recent News of HTFL

The Motley Fool8/14/2026Neutral

Why Heartflow Stock Soared Today

Heartflow's AI-powered platform could save countless lives. The company is growing at an impressive clip.

Benzinga8/14/2026Neutral

HeartFlow Shares Soar Following Strong Q2 Results and Upgraded Guidance

HeartFlow Inc. (NASDAQ:HTFL) shares are trading sharply higher Friday afternoon after the company reported better-than-expected second-quarter adjusted EPS results and raised its full-year financial outlook.

Seeking Alpha8/14/2026Neutral

HeartFlow, Inc. (HTFL) Q2 2026 Earnings Call Transcript

MarketBeat8/13/2026Neutral

Heartflow Q2 Earnings Call Highlights

Heartflow NASDAQ: HTFL reported second-quarter revenue of $64.1 million, up 48% from a year earlier, as growth in its Plaque Analysis offering, durable FFR-CT utilization and continued expansion of the coronary CT angiography, or CCTA, market supported results.

Zacks Investment Research8/13/2026Neutral

HeartFlow (HTFL) Reports Q2 Loss, Beats Revenue Estimates

HeartFlow (HTFL) came out with a quarterly loss of $0.07 per share versus the Zacks Consensus Estimate of a loss of $0.14. This compares to a loss of $1.46 per share a year ago.

Historical Employee Count of HTFL

Current

843

Minimum

843

Maximum

843

Recent Filings

Report Date	Employees	Form Type	Filing Date	SEC Filing
Dec 31, 2025	843	10-K	Mar 18, 2026	View

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Heartflow, Inc. Common Stock