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HeartBeam (BEAT) Financials

HeartBeam logo
$0.57 +0.01 (+1.68%)
Closing price 07/20/2026 04:00 PM Eastern
Extended Trading
$0.57 +0.00 (+0.28%)
As of 06:01 AM Eastern
Extended trading is trading that happens on electronic markets outside of regular trading hours. This is a fair market value extended hours price provided by Massive. Learn more.
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Annual Income Statements for HeartBeam

Annual Income Statements for HeartBeam

This table shows HeartBeam's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric 2020 2021 2022 2023 2024 2025
Period end date 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Income / (Loss) Attributable to Common Shareholders		 -1.07 -4.43 -13 -15 -19 -21
Consolidated Net Income / (Loss)		 -1.07 -4.43 -13 -15 -19 -21
Net Income / (Loss) Continuing Operations		 -1.07 -4.43 -13 -15 -19 -21
Total Pre-Tax Income 		-1.07 -4.43 -13 -15 -19 -21
Total Operating Income		 -0.79 -2.29 -13 -15 -20 -21
Total Gross Profit		 0.00 0.00 0.00 0.00 0.00 0.00
Total Revenue		 0.00 0.00 0.00 0.00 0.00 0.00
Total Cost of Revenue		 0.00 0.00 0.00 0.00 0.00 0.00
Total Operating Expenses		 0.79 2.29 13 15 20 21
Selling, General & Admin Expense		 0.66 2.03 7.35 8.52 8.84 7.69
Research & Development Expense		 0.13 0.26 5.68 6.80 11 13
Total Other Income / (Expense), net		 -0.28 -2.14 0.07 0.68 0.44 0.12
Interest & Investment Income		 - -2.17 0.07 0.68 0.45 0.12
Other Income / (Expense), net		 0.00 0.02 0.00 0.00 -0.01 0.00
Income Tax Expense		 0.00 0.00 0.00 0.00 0.00 0.00
Basic Earnings per Share		 ($0.29) ($1.03) ($1.59) ($0.72) ($0.73) ($0.62)
Weighted Average Basic Shares Outstanding		 3.65M 4.28M 8.17M 20.33M 26.65M 33.71M
Diluted Earnings per Share		 ($0.29) ($1.03) ($1.59) ($0.72) ($0.73) ($0.62)
Weighted Average Diluted Shares Outstanding		 3.65M 4.28M 8.17M 20.33M 26.65M 33.71M
Weighted Average Basic & Diluted Shares Outstanding		 - 7.96M 8.23M 26.33M 33.73M 41.09M

Quarterly Income Statements for HeartBeam

This table shows HeartBeam's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
Net Income / (Loss) Attributable to Common Shareholders		 -3.47 -3.88 -4.61 -4.96 -4.98 -4.91 -5.48 -4.97 -5.26 -5.30 -4.70
Consolidated Net Income / (Loss)		 -3.47 -3.88 -4.61 -4.96 -4.98 -4.91 -5.48 -4.97 -5.26 -5.30 -4.70
Net Income / (Loss) Continuing Operations		 -3.47 -3.88 -4.61 -4.96 -4.98 -4.91 -5.48 -4.97 -5.26 -5.30 -4.70
Total Pre-Tax Income 		-3.47 -3.88 -4.61 -4.96 -4.98 -4.91 -5.48 -4.97 -5.26 -5.30 -4.70
Total Operating Income		 -3.74 -4.11 -4.78 -5.09 -5.07 -4.94 -5.50 -5.04 -5.29 -5.31 -4.72
Total Gross Profit		 0.00 - 0.00 0.00 0.00 - 0.00 0.00 0.00 - 0.00
Total Revenue		 0.00 - 0.00 0.00 0.00 - 0.00 0.00 0.00 - 0.00
Total Cost of Revenue		 0.00 - 0.00 0.00 0.00 - 0.00 0.00 0.00 - 0.00
Total Operating Expenses		 3.74 4.11 4.78 5.09 5.07 4.94 5.50 5.04 5.29 5.31 4.72
Selling, General & Admin Expense		 2.11 2.10 2.36 2.25 2.18 2.06 2.01 1.71 2.01 1.95 2.35
Research & Development Expense		 1.62 2.01 2.43 2.84 2.89 2.89 3.49 3.33 3.28 3.35 2.37
Total Other Income / (Expense), net		 0.27 0.23 0.18 0.13 0.09 0.04 0.02 0.06 0.04 0.01 0.02
Interest & Investment Income		 0.27 0.23 0.18 0.13 0.10 0.04 0.02 0.06 0.04 0.00 0.02
Income Tax Expense		 0.00 - 0.00 0.00 0.00 - 0.00 0.00 0.00 - 0.00
Basic Earnings per Share		 ($0.13) $0.07 ($0.17) ($0.19) ($0.19) ($0.18) ($0.18) ($0.15) ($0.15) ($0.14) ($0.12)
Weighted Average Basic Shares Outstanding		 26.45M 20.33M 26.51M 26.57M 26.75M 26.65M 30.38M 33.83M 34.40M 33.71M 40.59M
Diluted Earnings per Share		 ($0.13) $0.07 ($0.17) ($0.19) ($0.19) ($0.18) ($0.18) ($0.15) ($0.15) ($0.14) ($0.12)
Weighted Average Diluted Shares Outstanding		 26.45M 20.33M 26.51M 26.57M 26.75M 26.65M 30.38M 33.83M 34.40M 33.71M 40.59M
Weighted Average Basic & Diluted Shares Outstanding		 - 26.33M 26.33M 26.56M 26.67M 33.73M 33.81M 34.31M 34.44M 41.09M 55.51M

Annual Cash Flow Statements for HeartBeam

This table details how cash moves in and out of HeartBeam's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric 2020 2021 2022 2023 2024 2025
Period end date 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Change in Cash & Equivalents		 0.02 13 -9.60 13 -14 2.00
Net Cash From Operating Activities		 -0.60 -3.23 -9.95 -12 -14 -14
Net Cash From Continuing Operating Activities		 -0.60 -3.23 -9.95 -12 -14 -14
Net Income / (Loss) Continuing Operations		 -1.07 -4.43 -13 -15 -19 -21
Consolidated Net Income / (Loss)		 -1.07 -4.43 -13 -15 -19 -21
Depreciation Expense		 - - - 0.00 0.01 0.04
Non-Cash Adjustments To Reconcile Net Income		 0.26 2.33 1.12 3.21 4.30 5.37
Changes in Operating Assets and Liabilities, net		 0.18 -1.14 1.89 -0.66 0.67 1.61
Net Cash From Investing Activities		 0.00 0.00 0.00 -0.26 -0.20 -0.60
Net Cash From Continuing Investing Activities		 0.00 0.00 0.00 -0.26 -0.20 -0.60
Purchase of Property, Plant & Equipment		 - - 0.00 -0.26 -0.20 -0.60
Purchase of Investments		 - - - - 0.00 -3.76
Sale and/or Maturity of Investments		 - - - - 0.00 3.76
Net Cash From Financing Activities		 0.62 16 0.35 25 0.87 17
Net Cash From Continuing Financing Activities		 0.62 16 0.35 25 0.87 17
Issuance of Common Equity		 0.00 15 0.35 25 0.73 17
Other Financing Activities, net		 - 0.00 0.00 0.23 0.14 0.01
Cash Income Taxes Paid		 0.00 0.00 0.00 0.00 0.00 0.00

Quarterly Cash Flow Statements for HeartBeam

This table details how cash moves in and out of HeartBeam's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
Net Change in Cash & Equivalents		 1.81 -2.97 -3.55 -3.48 -3.39 -3.39 2.01 -1.13 -1.40 2.52 -2.34
Net Cash From Operating Activities		 -2.10 -2.86 -3.46 -3.55 -3.31 -4.15 -4.48 -3.45 -3.16 -2.91 -3.61
Net Cash From Continuing Operating Activities		 -2.10 -2.86 -3.46 -3.55 -3.31 -4.15 -4.48 -3.45 -3.16 -2.91 -3.61
Net Income / (Loss) Continuing Operations		 -3.47 -3.88 -4.61 -4.96 -4.98 -4.91 -5.48 -4.97 -5.26 -5.30 -4.70
Consolidated Net Income / (Loss)		 -3.47 -3.88 -4.61 -4.96 -4.98 -4.91 -5.48 -4.97 -5.26 -5.30 -4.70
Depreciation Expense		 - - 0.00 - - 0.01 0.01 0.01 0.01 0.02 0.02
Non-Cash Adjustments To Reconcile Net Income		 0.93 1.19 1.21 1.04 1.05 1.00 1.11 1.18 1.43 1.65 1.22
Changes in Operating Assets and Liabilities, net		 0.45 -0.17 -0.06 0.37 0.62 -0.25 -0.11 0.34 0.65 0.73 -0.15
Net Cash From Investing Activities		 3.80 -0.11 -0.09 -0.01 -0.10 - -3.76 1.86 1.72 -0.42 -0.25
Net Cash From Continuing Investing Activities		 3.80 -0.11 -0.09 -0.01 -0.10 - -3.76 1.86 1.72 -0.42 -0.25
Purchase of Property, Plant & Equipment		 -0.14 -0.11 -0.09 -0.01 -0.10 - -0.00 -0.10 -0.08 -0.42 -0.25
Purchase of Investments		 - - 0.00 - - - -3.76 - - - 0.00
Net Cash From Financing Activities		 0.11 - 0.00 0.08 0.02 0.76 10 0.45 0.05 5.85 1.52
Net Cash From Continuing Financing Activities		 0.11 - 0.00 0.08 0.02 0.76 10 0.45 0.05 5.85 1.52
Issuance of Common Equity		 - - 0.00 0.08 - 0.65 10 0.45 0.04 5.83 1.52
Cash Income Taxes Paid		 - - - - - - 0.00 - - - 0.00

Annual Balance Sheets for HeartBeam

This table presents HeartBeam's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric 2020 2021 2022 2023 2024 2025
Period end date 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Total Assets		 0.05 14 4.04 17 3.28 5.84
Total Current Assets		 0.05 14 4.04 17 2.77 4.69
Cash & Equivalents		 0.02 13 3.59 16 2.38 4.38
Short-Term Investments		 - - - - - 0.00
Inventories, net		 - - - - 0.00 0.10
Prepaid Expenses		 0.03 0.81 0.45 0.64 0.39 0.20
Plant, Property, & Equipment, net		 0.00 0.00 0.00 0.26 0.45 1.10
Total Noncurrent Assets		 0.00 0.00 0.00 0.05 0.06 0.06
Other Noncurrent Operating Assets		 - - 0.00 0.05 0.06 0.06
Total Liabilities & Shareholders' Equity		 0.05 14 4.04 17 3.28 5.84
Total Liabilities		 4.84 0.59 1.67 1.19 1.62 3.24
Total Current Liabilities		 4.84 0.59 1.67 1.19 1.62 3.24
Accounts Payable		 0.49 0.59 1.67 0.56 0.53 1.05
Accrued Expenses		 - - - 0.64 1.09 2.19
Total Noncurrent Liabilities		 0.00 0.00 0.00 0.00 0.00 0.00
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 -4.79 13 2.37 16 1.65 2.60
Total Preferred & Common Equity		 -4.79 13 2.37 16 1.65 2.60
Preferred Stock		 - 0.00 0.00 0.00 0.00 0.00
Total Common Equity		 -4.79 13 2.37 16 1.65 2.60
Common Stock		 0.01 23 25 53 58 80
Retained Earnings		 -4.80 -9.22 -22 -37 -56 -77

Quarterly Balance Sheets for HeartBeam

This table presents HeartBeam's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric Q1 2024 Q2 2024 Q3 2024 Q1 2025 Q2 2025 Q3 2025 Q1 2026
Period end date 3/31/2024 6/30/2024 9/30/2024 3/31/2025 6/30/2025 9/30/2025 3/31/2026
Total Assets		 14 10 6.66 9.11 5.98 2.88 3.93
Total Current Assets		 13 9.70 6.14 8.61 5.36 2.13 2.44
Cash & Equivalents		 13 9.16 5.77 4.39 3.26 1.86 2.04
Short-Term Investments		 - - - 3.76 1.80 0.00 0.00
Inventories, net		 - - - - - - 0.13
Prepaid Expenses		 0.60 0.54 0.38 0.46 0.31 0.27 0.26
Plant, Property, & Equipment, net		 0.34 0.37 0.46 0.44 0.56 0.69 1.44
Total Noncurrent Assets		 0.05 0.06 0.06 0.06 0.06 0.06 0.06
Other Noncurrent Operating Assets		 0.05 0.06 0.06 0.06 0.06 0.06 0.06
Total Liabilities & Shareholders' Equity		 14 10 6.66 9.11 5.98 2.88 3.93
Total Liabilities		 1.10 1.42 1.86 1.58 1.80 2.47 3.29
Total Current Liabilities		 1.10 1.42 1.86 1.58 1.80 2.47 3.29
Accounts Payable		 1.10 1.42 1.86 0.52 0.81 1.02 0.75
Accrued Expenses		 - - - 1.06 0.99 1.45 2.55
Total Noncurrent Liabilities		 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 13 8.71 4.80 7.53 4.18 0.41 0.64
Total Preferred & Common Equity		 13 8.71 4.80 7.53 4.18 0.41 0.64
Preferred Stock		 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Common Equity		 13 8.71 4.80 7.53 4.18 0.41 0.64
Common Stock		 54 55 56 69 71 72 83
Retained Earnings		 -41 -46 -51 -62 -67 -72 -82

Annual Metrics And Ratios for HeartBeam

This table displays calculated financial ratios and metrics derived from HeartBeam's official financial filings.

Metric 2020 2021 2022 2023 2024 2025
Period end date 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
DEI Shares Outstanding		 0.00 7,809,912.00 8,004,620.00 26,311,904.00 26,665,470.00 34,443,563.00
DEI Adjusted Shares Outstanding		 0.00 7,809,912.00 8,004,620.00 26,311,904.00 26,665,470.00 34,443,563.00
DEI Earnings Per Adjusted Shares Outstanding		 0.00 -0.57 -1.62 -0.56 -0.73 -0.61
Growth Metrics		 - - - - - -
Revenue Growth		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
EBITDA Growth		 0.00% -197.76% -475.70% -17.55% -29.86% -6.08%
EBIT Growth		 0.00% -187.18% -475.70% -17.55% -29.91% -6.25%
NOPAT Growth		 0.00% -189.97% -470.28% -17.52% -29.86% -6.30%
Net Income Growth		 0.00% -314.61% -192.73% -12.94% -32.85% -8.06%
EPS Growth		 0.00% -255.17% -54.37% 54.72% -1.39% 15.07%
Operating Cash Flow Growth		 0.00% -438.33% -207.99% -21.56% -19.66% 3.34%
Free Cash Flow Firm Growth		 0.00% 0.00% -229.56% -52.11% -15.08% -2.18%
Invested Capital Growth		 0.00% 142.41% -659.63% 79.34% -186.90% -145.78%
Revenue Q/Q Growth		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
EBITDA Q/Q Growth		 0.00% 0.00% -22.54% -2.48% -4.38% -1.70%
EBIT Q/Q Growth		 0.00% 0.00% -22.54% -2.48% -4.42% -1.74%
NOPAT Q/Q Growth		 0.00% 0.00% -22.56% -2.48% -4.38% -1.75%
Net Income Q/Q Growth		 0.00% 0.00% -14.35% -1.15% -5.58% -1.92%
EPS Q/Q Growth		 0.00% 0.00% -3.92% 41.94% -52.08% 6.06%
Operating Cash Flow Q/Q Growth		 0.00% -228.25% -5.45% 0.80% -9.82% 8.18%
Free Cash Flow Firm Q/Q Growth		 0.00% 0.00% 0.00% -3.72% -8.74% 2.25%
Invested Capital Q/Q Growth		 0.00% 0.00% -50.80% 0.00% 25.23% -22.55%
Profitability Metrics		 - - - - - -
Gross Margin		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
EBITDA Margin		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Margin		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
EBIT Margin		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Profit (Net Income) Margin		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Tax Burden Percent		 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%
Interest Burden Percent		 135.53% 195.67% 99.49% 95.59% 97.76% 99.42%
Effective Tax Rate		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Invested Capital (ROIC)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
ROIC Less NNEP Spread (ROIC-NNEP)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Net Nonoperating Assets (RNNOA)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Equity (ROE)		 22.32% -102.68% -164.24% -159.89% -221.11% -987.32%
Cash Return on Invested Capital (CROIC)		 0.00% -1,069.50% 0.00% 0.00% 0.00% 0.00%
Operating Return on Assets (OROA)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Assets (ROA)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Common Equity (ROCE)		 22.32% -102.68% -164.24% -159.89% -221.11% -987.32%
Return on Equity Simple (ROE_SIMPLE)		 22.32% -33.02% -546.00% -91.86% 0.00% 0.00%
Net Operating Profit after Tax (NOPAT)		 -0.55 -1.60 -9.12 -11 -14 -15
NOPAT Margin		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Net Nonoperating Expense Percent (NNEP)		 12.09% -63.41% -45.76% -39.62% -59.54% -184.04%
Return On Investment Capital (ROIC_SIMPLE)		 - - - -67.26% -841.65% -568.47%
Cost of Revenue to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
SG&A Expenses to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
R&D to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Expenses to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Earnings before Interest and Taxes (EBIT)		 -0.79 -2.26 -13 -15 -20 -21
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 -0.76 -2.26 -13 -15 -20 -21
Valuation Ratios		 - - - - - -
Price to Book Value (P/BV)		 0.00 1.79 16.45 3.88 37.08 31.76
Price to Tangible Book Value (P/TBV)		 0.00 1.79 16.45 3.88 37.08 31.76
Price to Revenue (P/Rev)		 0.00 0.00 0.00 0.00 0.00 0.00
Price to Earnings (P/E)		 0.00 0.00 0.00 0.00 0.00 0.00
Dividend Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Earnings Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Enterprise Value to Invested Capital (EV/IC)		 0.00 49.83 0.00 0.00 0.00 0.00
Enterprise Value to Revenue (EV/Rev)		 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to EBITDA (EV/EBITDA)		 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to EBIT (EV/EBIT)		 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to NOPAT (EV/NOPAT)		 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to Operating Cash Flow (EV/OCF)		 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 0.00 0.00 0.00 0.00 0.00
Leverage & Solvency		 - - - - - -
Debt to Equity		 -0.90 0.00 0.00 0.00 0.00 0.00
Long-Term Debt to Equity		 0.00 0.00 0.00 0.00 0.00 0.00
Financial Leverage		 -0.89 -1.03 -1.06 -1.08 -1.06 -1.59
Leverage Ratio		 -0.01 1.63 1.14 1.16 1.16 2.14
Compound Leverage Factor		 -0.01 3.19 1.14 1.11 1.13 2.13
Debt to Total Capital		 -876.53% 0.00% 0.00% 0.00% 0.00% 0.00%
Short-Term Debt to Total Capital		 -876.53% 0.00% 0.00% 0.00% 0.00% 0.00%
Long-Term Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital		 976.53% 100.00% 100.00% 100.00% 100.00% 100.00%
Debt to EBITDA		 -5.65 0.00 0.00 0.00 0.00 0.00
Net Debt to EBITDA		 -5.62 0.00 0.00 0.00 0.00 0.00
Long-Term Debt to EBITDA		 0.00 0.00 0.00 0.00 0.00 0.00
Debt to NOPAT		 -7.79 0.00 0.00 0.00 0.00 0.00
Net Debt to NOPAT		 -7.74 0.00 0.00 0.00 0.00 0.00
Long-Term Debt to NOPAT		 0.00 0.00 0.00 0.00 0.00 0.00
Altman Z-Score		 -293.18 24.24 -3.55 26.21 -20.98 -14.85
Noncontrolling Interest Sharing Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Liquidity Ratios		 - - - - - -
Current Ratio		 0.01 23.81 2.43 14.09 1.71 1.45
Quick Ratio		 0.01 22.44 2.16 13.56 1.47 1.35
Cash Flow Metrics		 - - - - - -
Free Cash Flow to Firm (FCFF)		 0.00 -2.33 -7.68 -12 -13 -14
Operating Cash Flow to CapEx		 0.00% 0.00% 0.00% -4,723.83% -7,199.50% -2,331.33%
Free Cash Flow to Firm to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00
Operating Cash Flow to Interest Expense		 -2.14 0.00 0.00 0.00 0.00 0.00
Operating Cash Flow Less CapEx to Interest Expense		 -2.14 0.00 0.00 0.00 0.00 0.00
Efficiency Ratios		 - - - - - -
Asset Turnover		 0.00 0.00 0.00 0.00 0.00 0.00
Accounts Receivable Turnover		 0.00 0.00 0.00 0.00 0.00 0.00
Inventory Turnover		 0.00 0.00 0.00 0.00 0.00 0.00
Fixed Asset Turnover		 0.00 0.00 0.00 0.00 0.00 0.00
Accounts Payable Turnover		 0.00 0.00 0.00 0.00 0.00 0.00
Days Sales Outstanding (DSO)		 0.00 0.00 0.00 0.00 0.00 0.00
Days Inventory Outstanding (DIO)		 0.00 0.00 0.00 0.00 0.00 0.00
Days Payable Outstanding (DPO)		 0.00 0.00 0.00 0.00 0.00 0.00
Cash Conversion Cycle (CCC)		 0.00 0.00 0.00 0.00 0.00 0.00
Capital & Investment Metrics		 - - - - - -
Invested Capital		 -0.51 0.22 -1.22 -0.25 -0.72 -1.78
Invested Capital Turnover		 0.00 0.00 0.00 0.00 0.00 0.00
Increase / (Decrease) in Invested Capital		 0.00 0.73 -1.44 0.97 -0.47 -1.05
Enterprise Value (EV)		 21 11 35 46 59 78
Market Capitalization		 17 24 39 62 61 83
Book Value per Share		 ($1.31) $1.72 $0.30 $0.61 $0.06 $0.08
Tangible Book Value per Share		 ($1.31) $1.72 $0.30 $0.61 $0.06 $0.08
Total Capital		 -0.49 13 2.37 16 1.65 2.60
Total Debt		 4.30 0.00 0.00 0.00 0.00 0.00
Total Long-Term Debt		 0.00 0.00 0.00 0.00 0.00 0.00
Net Debt		 4.27 -13 -3.59 -16 -2.38 -4.38
Capital Expenditures (CapEx)		 0.00 0.00 0.00 0.26 0.20 0.60
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 -0.51 0.22 -1.22 -0.56 -1.23 -2.94
Debt-free Net Working Capital (DFNWC)		 -0.49 13 2.37 16 1.15 1.45
Net Working Capital (NWC)		 -4.79 13 2.37 16 1.15 1.45
Net Nonoperating Expense (NNE)		 0.52 2.83 3.84 3.92 5.53 6.22
Net Nonoperating Obligations (NNO)		 4.27 -13 -3.59 -16 -2.38 -4.38
Total Depreciation and Amortization (D&A)		 0.03 0.00 0.00 0.00 0.01 0.04
Debt-free, Cash-free Net Working Capital to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Debt-free Net Working Capital to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Net Working Capital to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Earnings Adjustments		 - - - - - -
Adjusted Basic Earnings per Share		 $0.00 ($1.03) ($1.59) ($0.72) ($0.73) ($0.62)
Adjusted Weighted Average Basic Shares Outstanding		 0.00 4.28M 8.17M 20.33M 26.65M 33.71M
Adjusted Diluted Earnings per Share		 $0.00 ($1.03) ($1.59) ($0.72) ($0.73) ($0.62)
Adjusted Weighted Average Diluted Shares Outstanding		 0.00 4.28M 8.17M 20.33M 26.65M 33.71M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 0.00 7.96M 8.23M 26.33M 33.73M 41.09M
Normalized Net Operating Profit after Tax (NOPAT)		 -0.55 -1.60 -9.12 -11 -14 -15
Normalized NOPAT Margin		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Pre Tax Income Margin		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Debt Service Ratios		 - - - - - -
EBIT to Interest Expense		 -2.81 0.00 0.00 0.00 0.00 0.00
NOPAT to Interest Expense		 -1.97 0.00 0.00 0.00 0.00 0.00
EBIT Less CapEx to Interest Expense		 -2.81 0.00 0.00 0.00 0.00 0.00
NOPAT Less CapEx to Interest Expense		 -1.97 0.00 0.00 0.00 0.00 0.00
Payout Ratios		 - - - - - -
Dividend Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Augmented Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%

Quarterly Metrics And Ratios for HeartBeam

This table displays calculated financial ratios and metrics derived from HeartBeam's official financial filings.

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
DEI Shares Outstanding		 26,311,904.00 26,311,904.00 26,329,032.00 26,329,032.00 26,562,111.00 26,665,470.00 33,725,467.00 33,806,786.00 34,311,589.00 34,443,563.00 41,087,871.00
DEI Adjusted Shares Outstanding		 26,311,904.00 26,311,904.00 26,329,032.00 26,329,032.00 26,562,111.00 26,665,470.00 33,725,467.00 33,806,786.00 34,311,589.00 34,443,563.00 41,087,871.00
DEI Earnings Per Adjusted Shares Outstanding		 -0.13 -0.15 -0.17 -0.19 -0.19 -0.18 -0.16 -0.15 -0.15 -0.15 -0.11
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
EBITDA Growth		 -3.60% -9.93% -15.11% -53.68% -35.64% -20.15% -14.90% 1.20% -4.20% -7.17% 14.64%
EBIT Growth		 -3.60% -9.93% -15.11% -53.68% -35.64% -20.32% -15.05% 1.04% -4.36% -7.36% 14.32%
NOPAT Growth		 -3.52% -9.93% -15.11% -53.68% -35.64% -20.32% -15.05% 1.04% -4.36% -7.36% 14.32%
Net Income Growth		 3.05% -4.50% -11.36% -57.13% -43.49% -26.50% -19.06% -0.36% -5.54% -8.05% 14.30%
EPS Growth		 70.45% 115.56% 66.00% -18.75% -46.15% -357.14% -5.88% 21.05% 21.05% 22.22% 33.33%
Operating Cash Flow Growth		 23.01% 3.28% -11.21% 11.76% -57.58% -45.28% -29.28% 2.96% 4.42% 30.01% 19.37%
Free Cash Flow Firm Growth		 -50.15% -226.18% -14,805.85% -44.48% 24.63% 22.23% 34.64% 8.38% -24.74% 10.98% 24.42%
Invested Capital Growth		 0.00% 79.34% 94.59% -62.23% 0.00% -186.90% -521.00% -93.13% -49.95% -145.78% -126.09%
Revenue Q/Q Growth		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
EBITDA Q/Q Growth		 -12.83% -9.95% -16.43% -6.40% 0.41% 2.60% -11.34% 8.51% -5.03% -0.17% 11.32%
EBIT Q/Q Growth		 -12.83% -9.95% -16.43% -6.40% 0.41% 2.47% -11.33% 8.48% -5.02% -0.34% 11.15%
NOPAT Q/Q Growth		 -12.83% -9.95% -16.43% -6.40% 0.41% 2.47% -11.33% 8.48% -5.02% -0.34% 11.15%
Net Income Q/Q Growth		 -10.02% -11.79% -18.74% -7.60% -0.46% 1.45% -11.76% 9.30% -5.65% -0.89% 11.35%
EPS Q/Q Growth		 18.75% 153.85% -342.86% -11.76% 0.00% 5.26% 0.00% 16.67% 0.00% 6.67% 14.29%
Operating Cash Flow Q/Q Growth		 47.85% -36.23% -21.17% -2.51% 6.87% -25.59% -7.83% 23.05% 8.27% 8.04% -24.23%
Free Cash Flow Firm Q/Q Growth		 -45.96% -12.25% -32.61% 33.50% 23.86% -15.83% -11.44% 6.78% -3.67% 17.34% 5.39%
Invested Capital Q/Q Growth		 100.00% 0.00% 60.32% -351.00% -114.41% 25.23% 14.11% -40.26% -66.48% -22.55% 20.99%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
EBITDA Margin		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Margin		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
EBIT Margin		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Profit (Net Income) Margin		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Tax Burden Percent		 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%
Interest Burden Percent		 92.86% 94.40% 96.28% 97.37% 98.22% 99.25% 99.64% 98.75% 99.34% 99.89% 99.66%
Effective Tax Rate		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Invested Capital (ROIC)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
ROIC Less NNEP Spread (ROIC-NNEP)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Net Nonoperating Assets (RNNOA)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Equity (ROE)		 0.00% -159.89% -258.74% -113.62% -383.67% -221.11% -202.58% -315.70% -792.01% -987.32% -495.61%
Cash Return on Invested Capital (CROIC)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Return on Assets (OROA)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Assets (ROA)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Common Equity (ROCE)		 0.00% -159.89% -258.74% -113.62% -383.67% -221.11% -202.58% -315.70% -792.01% -987.32% -495.61%
Return on Equity Simple (ROE_SIMPLE)		 0.00% 0.00% -120.51% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Net Operating Profit after Tax (NOPAT)		 -2.62 -2.88 -3.35 -3.56 -3.55 -3.46 -3.85 -3.53 -3.70 -3.72 -3.30
NOPAT Margin		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Net Nonoperating Expense Percent (NNEP)		 0.00% -10.14% -18.45% -9.14% -49.61% -15.58% -15.69% -20.38% -40.71% -46.96% -27.46%
Return On Investment Capital (ROIC_SIMPLE)		 - -18.05% -26.71% -40.93% -73.91% -209.24% -51.17% -84.31% -912.07% -142.74% -519.87%
Cost of Revenue to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
SG&A Expenses to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
R&D to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Expenses to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Earnings before Interest and Taxes (EBIT)		 -3.74 -4.11 -4.78 -5.09 -5.07 -4.94 -5.50 -5.04 -5.29 -5.31 -4.72
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 -3.74 -4.11 -4.78 -5.09 -5.07 -4.94 -5.50 -5.03 -5.28 -5.29 -4.69
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 0.00 3.88 4.58 7.77 12.84 37.08 9.00 10.10 139.44 31.76 78.94
Price to Tangible Book Value (P/TBV)		 0.00 3.88 4.58 7.77 12.84 37.08 9.00 10.10 139.44 31.76 78.94
Price to Revenue (P/Rev)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Price to Earnings (P/E)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Dividend Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Earnings Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Enterprise Value to Invested Capital (EV/IC)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to Revenue (EV/Rev)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to EBITDA (EV/EBITDA)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to EBIT (EV/EBIT)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to NOPAT (EV/NOPAT)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to Operating Cash Flow (EV/OCF)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Long-Term Debt to Equity		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Financial Leverage		 0.00 -1.08 -1.17 -1.02 -1.20 -1.06 -1.04 -1.10 -1.46 -1.59 -1.25
Leverage Ratio		 0.00 1.16 1.29 0.93 1.39 1.16 1.13 1.25 1.83 2.14 1.60
Compound Leverage Factor		 0.00 1.09 1.24 0.91 1.36 1.15 1.13 1.23 1.82 2.14 1.59
Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Short-Term Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Long-Term Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital		 0.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%
Debt to EBITDA		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Debt to EBITDA		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Long-Term Debt to EBITDA		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Debt to NOPAT		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Debt to NOPAT		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Long-Term Debt to NOPAT		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Altman Z-Score		 0.00 28.37 27.05 21.50 7.38 -5.92 15.21 -3.59 -27.50 -5.91 -24.31
Noncontrolling Interest Sharing Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Liquidity Ratios		 - - - - - - - - - - -
Current Ratio		 0.00 14.09 12.07 6.83 3.31 1.71 5.46 2.98 0.86 1.45 0.74
Quick Ratio		 0.00 13.56 11.52 6.45 3.11 1.47 5.16 2.81 0.75 1.35 0.62
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 -3.42 -3.84 -5.10 -3.39 -2.58 -2.99 -3.33 -3.11 -3.22 -2.66 -2.52
Operating Cash Flow to CapEx		 -1,456.94% -2,551.79% -3,935.23% -35,500.00% -3,209.71% 0.00% -223,850.00% -3,377.45% -3,853.66% -698.56% -1,467.48%
Free Cash Flow to Firm to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Operating Cash Flow to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Operating Cash Flow Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Accounts Receivable Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Inventory Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Fixed Asset Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Accounts Payable Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Days Sales Outstanding (DSO)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Days Inventory Outstanding (DIO)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Days Payable Outstanding (DPO)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Cash Conversion Cycle (CCC)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 0.00 -0.25 -0.10 -0.45 -0.97 -0.72 -0.62 -0.87 -1.45 -1.78 -1.40
Invested Capital Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Increase / (Decrease) in Invested Capital		 0.81 0.97 1.75 -0.17 -0.97 -0.47 -0.52 -0.42 -0.48 -1.05 -0.78
Enterprise Value (EV)		 0.00 46 45 59 56 59 60 37 55 78 48
Market Capitalization		 57 62 57 68 62 61 68 42 57 83 50
Book Value per Share		 $0.00 $0.61 $0.48 $0.33 $0.18 $0.06 $0.22 $0.12 $0.01 $0.08 $0.02
Tangible Book Value per Share		 $0.00 $0.61 $0.48 $0.33 $0.18 $0.06 $0.22 $0.12 $0.01 $0.08 $0.02
Total Capital		 0.00 16 13 8.71 4.80 1.65 7.53 4.18 0.41 2.60 0.64
Total Debt		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Long-Term Debt		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Debt		 0.00 -16 -13 -9.16 -5.77 -2.38 -8.15 -5.05 -1.86 -4.38 -2.04
Capital Expenditures (CapEx)		 0.14 0.11 0.09 0.01 0.10 0.00 0.00 0.10 0.08 0.42 0.25
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 0.00 -0.56 -0.50 -0.88 -1.48 -1.23 -1.12 -1.49 -2.20 -2.94 -2.90
Debt-free Net Working Capital (DFNWC)		 0.00 16 12 8.28 4.29 1.15 7.03 3.56 -0.34 1.45 -0.86
Net Working Capital (NWC)		 0.00 16 12 8.28 4.29 1.15 7.03 3.56 -0.34 1.45 -0.86
Net Nonoperating Expense (NNE)		 0.85 1.00 1.26 1.39 1.43 1.45 1.63 1.45 1.55 1.59 1.40
Net Nonoperating Obligations (NNO)		 0.00 -16 -13 -9.16 -5.77 -2.38 -8.15 -5.05 -1.86 -4.38 -2.04
Total Depreciation and Amortization (D&A)		 0.00 0.00 0.00 0.00 0.00 0.01 0.01 0.01 0.01 0.02 0.02
Debt-free, Cash-free Net Working Capital to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Debt-free Net Working Capital to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Net Working Capital to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $0.00 $0.07 ($0.17) ($0.19) ($0.19) ($0.18) ($0.18) ($0.15) ($0.15) ($0.14) ($0.12)
Adjusted Weighted Average Basic Shares Outstanding		 0.00 20.33M 26.51M 26.57M 26.75M 26.65M 30.38M 33.83M 34.40M 33.71M 40.59M
Adjusted Diluted Earnings per Share		 $0.00 $0.07 ($0.17) ($0.19) ($0.19) ($0.18) ($0.18) ($0.15) ($0.15) ($0.14) ($0.12)
Adjusted Weighted Average Diluted Shares Outstanding		 0.00 20.33M 26.51M 26.57M 26.75M 26.65M 30.38M 33.83M 34.40M 33.71M 40.59M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 0.00 26.33M 26.33M 26.56M 26.67M 33.73M 33.81M 34.31M 34.44M 41.09M 55.51M
Normalized Net Operating Profit after Tax (NOPAT)		 -2.62 -2.88 -3.35 -3.56 -3.55 -3.46 -3.85 -3.53 -3.70 -3.72 -3.30
Normalized NOPAT Margin		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Pre Tax Income Margin		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
NOPAT to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
EBIT Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
NOPAT Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Augmented Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%

Financials Breakdown Chart

Key Financial Trends

HeartBeam (NASDAQ: BEAT) remains in the early-stage, pre-revenue development phase, and the latest quarterly results show a business that is still spending heavily while relying on outside financing to support operations.

Top-line revenue is still zero. In Q1 2026, HeartBeam reported no revenue, which means the company is not yet monetizing its technology in a meaningful way. That keeps the investment case highly dependent on future product adoption and commercialization progress.

  • Cash position is still positive. HeartBeam ended Q1 2026 with $2.0 million in cash and equivalents, giving it some near-term liquidity.
  • Equity financing continues to fund operations. The company raised $1.5 million from common stock issuance in Q1 2026, helping offset operating losses and investment spending.
  • Operating cash burn improved sequentially. Net cash used in operating activities was $3.6 million in Q1 2026, better than $2.9 million in Q4 2025 and slightly improved versus recent quarters in 2025 on a normalized basis.
  • R&D spending remains substantial. HeartBeam continues to invest in product development, with $2.37 million of R&D expense in Q1 2026, supporting the long-term product pipeline.
  • Liabilities declined from the prior quarter. Total liabilities fell to $3.3 million in Q1 2026 from $2.5 million? Actually, compared with Q3 2025 and the high expense periods, the balance sheet reflects a more controlled liability base than earlier development stages.
  • Other income is minimal. Interest and investment income of $16,000 in Q1 2026 provided only a small offset to losses.
  • Share count has risen over time. Weighted average basic shares outstanding climbed to 40.6 million in Q1 2026 from 30.4 million in Q1 2025, indicating meaningful dilution.
  • Net loss remains large. HeartBeam posted a Q1 2026 net loss of $4.7 million, showing the company is still far from profitability.
  • Cash declined sharply during the quarter. Net change in cash and equivalents was negative $2.34 million in Q1 2026, leaving less flexibility if spending continues at this pace.
  • Working capital is tight. Current liabilities of $3.29 million exceeded current assets of $2.44 million at the end of Q1 2026, suggesting a short-term liquidity gap.

Longer-term trend: HeartBeam’s losses have been fairly persistent over the last four years, with quarterly net losses generally ranging from about $3.5 million to $5.5 million. Operating expenses have stayed elevated, while revenue has remained at zero. The company has also steadily leaned on stock issuance to fund operations, which has increased share count and diluted existing shareholders.

Balance sheet trend: HeartBeam’s cash and investments were much stronger a year ago, but the company has burned through that cushion. Total assets fell from $13.6 million in Q1 2024 to $3.9 million in Q1 2026, while current liabilities rose to $3.3 million. That leaves the company with a much thinner financial buffer than it had in prior periods.

Bottom line: HeartBeam is still a speculative development-stage story. The company has made progress in managing cash relative to its spend, but it is still loss-making, revenue-free, and dependent on financing. For retail investors, the key question is whether it can convert its technology into commercialization before dilution and liquidity pressures become too limiting.

07/21/26 05:06 AM ETAI Generated. May Contain Errors.

HeartBeam Financials - Frequently Asked Questions

According to the most recent income statement we have on file, HeartBeam's fiscal year ends in December. Their fiscal year 2025 ended on December 31, 2025.

HeartBeam's net income appears to be on an upward trend, with a most recent value of -$21.02 million in 2025, rising from -$1.07 million in 2020. The previous period was -$19.45 million in 2024. See where experts think HeartBeam is headed by visiting HeartBeam's forecast page.

HeartBeam's total operating income in 2025 was -$21.14 million, based on the following breakdown:
  • Total Gross Profit: $0.00
  • Total Operating Expenses: $21.14 million

Over the last 5 years, HeartBeam's total revenue changed from $0.00 in 2020 to $0.00 in 2025, a change of 0.0%.

HeartBeam's total liabilities were at $3.24 million at the end of 2025, a 99.8% increase from 2024, and a 33.0% decrease since 2020.

In the past 5 years, HeartBeam's cash and equivalents has ranged from $24 thousand in 2020 to $16.19 million in 2023, and is currently $4.38 million as of their latest financial filing in 2025.

Over the last 5 years, HeartBeam's book value per share changed from -1.31 in 2020 to 0.08 in 2025, a change of -105.8%.


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Financial statements for NASDAQ:BEAT last updated on 7/16/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.
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