Earnings summaries and quarterly performance for Heartflow.
Research analysts covering Heartflow.
Recent press releases and 8-K filings for HTFL.
HeartFlow Reports Strong Q4 2025 Performance and Outlines 2026 Growth Strategy
HTFL
Guidance Update
New Projects/Investments
Revenue Acceleration/Inflection
- HeartFlow reported trailing 12 months revenue of $162 million through Q3 2025, representing 41% growth, and announced a "very strong Q4" 2025, beating consensus.
- The company's plaque analysis product is now live in over 500 accounts as of early January 2026, with a Category I CPT code effective January 1, 2026, and over 70% covered lives. HeartFlow anticipates over 1,000 active accounts with plaque by the end of 2026.
- HeartFlow plans to achieve profitability by mid-2028 and expects gross margins to expand significantly, with high confidence to reach "an eight in front of it" (80%+).
- The U.S. installed base grew to 1,465 accounts in 2025, with 340 new accounts added during the year.
- The company will initiate new randomized controlled trials (RCTs) in 2026 to expand into the $6 billion asymptomatic market before 2030.
Jan 13, 2026, 9:30 PM
HeartFlow Provides Business Update and 2026 Outlook at J.P. Morgan Healthcare Conference
HTFL
Guidance Update
Product Launch
Revenue Acceleration/Inflection
- HeartFlow reported a strong Q4 2025, beating consensus, and achieved a record year for adding new accounts, bringing the U.S. installed base to 1,465 accounts. The company's trailing 12 months revenue through Q3 2025 was $162 million, representing 41% growth.
- The company is rapidly expanding its Plaque Analysis product, with over 500 accounts live as of early January 2026 and a target of over 1,000 active accounts by the end of 2026. This product has a Category I CPT code and over 70% covered lives.
- HeartFlow plans to expand into the asymptomatic market with new RCTs in 2026, targeting an additional $6 billion TAM and aiming to enter these markets before 2030.
- The company is on track for profitability by mid-2028, driven by consistent revenue growth, margin expansion (including zero incremental COGS for plaque monetization), and volume leverage.
Jan 13, 2026, 9:30 PM
HeartFlow Reports Strong Q4 2025 Performance and Plaque Product Momentum
HTFL
Guidance Update
Product Launch
New Projects/Investments
- HeartFlow reported a very strong Q4 2025, exceeding consensus, and achieved a record year in 2025 by adding 340 new accounts, bringing the total U.S. installed base to 1,465 accounts.
- The company's new plaque analysis product is rapidly expanding, with over 500 accounts active as of early January 2026, and is projected to be in over 1,000 active accounts by the end of 2026. This product benefits from a Category I CPT code and over 70% covered lives as of January 1st, 2026.
- HeartFlow aims to achieve profitability by mid-2028, driven by consistent revenue growth, margin expansion (including zero incremental COGS for plaque monetization), and volume leverage.
- The company plans to expand into the asymptomatic market, an additional $6 billion TAM, by initiating new randomized controlled trials in 2026.
Jan 13, 2026, 9:30 PM
Heartflow, Inc. Provides Business Update and Strategic Outlook
HTFL
Guidance Update
Product Launch
New Projects/Investments
- Heartflow, Inc. reported $162 million in LTM 3Q25 revenue and a 76% non-GAAP gross margin for the same period, with 3Q25 FFRCT base business year-over-year revenue growth of 41%.
- The company's U.S. installed base reached 1,465 accounts, achieving 46% market penetration in 2025, and has a current U.S. Total Addressable Market (TAM) of $5 billion.
- Heartflow is pursuing a mid-term strategy to expand its U.S. TAM by an additional $6 billion into targeted asymptomatic markets before 2030, leveraging its AI platform for coronary artery disease (CAD).
- The Heartflow Plaque Analysis product received Category 1 CPT Code reimbursement effective January 1, 2026, covering >70% of U.S. lives, and has an installed base of 489 in the U.S..
- The company aims for durable long-term non-GAAP gross margin expansion, targeting >80%.
Jan 12, 2026, 1:30 PM
Heartflow Reports Robust LTM 3Q25 Revenue and Gross Margin Expansion
HTFL
Revenue Acceleration/Inflection
New Projects/Investments
- Heartflow reported LTM 3Q25 revenue of $162 million with 41% YoY revenue growth for its FFRCT base business in 3Q25, and achieved a non-GAAP gross margin of 75.9% in 3Q25.
- The company has a strong market presence with 1,465 U.S. installed base accounts and 46% market penetration in 2025, capturing 60% of the total U.S. CCTA market volume.
- Future growth is driven by new product adoption, notably Plaque, which has 489 U.S. installed base accounts as of January 1, 2026, over 70% U.S. covered lives, and a Category 1 CPT Code effective January 1, 2026. Heartflow also projects a $6 billion mid-term U.S. TAM expansion into asymptomatic markets.
- The company maintains a healthy financial position with $291 million in cash and cash equivalents.
Jan 12, 2026, 12:00 PM
HeartFlow Discusses Market Opportunity, DOJ Investigation, and Plaque Product Rollout
HTFL
Legal Proceedings
Product Launch
New Projects/Investments
- HeartFlow, an AI-powered software company for coronary artery disease diagnosis, reported strong Q3 performance with broad-based growth and expansion of its installed base. The company began 2025 with over 1,100 centers, having added 300 centers last year.
- The company's FFRCT technology applies to 33% of coronary CTA cases, and its new Plaque Analysis technology applies to 60%, creating a combined 93% market opportunity within a coronary CTA market growing at 22%.
- HeartFlow is cooperating with a DOJ investigation, which is currently a broad request for information, and does not anticipate it will impede market activities.
- For its Plaque Analysis product, HeartFlow has 57% covered lives, including United and Cigna as of October 1st, and expects to reach 70% coverage by the end of 2026. However, no material plaque contribution is expected until the tail end of 2026.
- The sales force for territory account managers expanded from approximately 45 at the start of the year to 95 by year-end. The company is confident in its long-term gross margin expansion and aims for profitability within three years of its IPO.
Dec 3, 2025, 8:30 PM
HeartFlow Discusses Business Strategy and DOJ Investigation
HTFL
Legal Proceedings
New Projects/Investments
Revenue Acceleration/Inflection
- HeartFlow is cooperating with a DOJ investigation that began as a broad request for information, which the company does not anticipate will impede its market activities.
- The company started 2025 with over 1,100 centers in its installed base, having added 300 centers in the previous year.
- HeartFlow's new Plaque Analysis technology, which focuses on the medical management of coronary artery disease, currently has 57% covered lives and aims for 70% coverage by the end of 2026.
- Following a strong Q3 marked by broad-based growth and significant expansion of its install base, HeartFlow provided conservative Q4 guidance due to challenging sequential comparisons.
- To drive utilization and awareness, HeartFlow expanded its Territory Account Managers from 45 to 95 by year-end.
Dec 3, 2025, 8:30 PM
HeartFlow Reports Strong Q3 2025 Results and Initiates Full-Year Guidance
HTFL
Earnings
Guidance Update
Product Launch
- HeartFlow reported strong Q3 2025 financial results, with total revenue and global revenue cases showing significant year-over-year growth as detailed in the table below.
- The company initiated full-year 2025 revenue guidance, reflecting robust growth expectations, as presented in the table below.
- Significant progress was made with the Plaque Analysis platform, including CMS announcing a Category 1 CPT code effective January 1, 2026, a national Medicare payment rate of $1,026 for the clinic setting, and coverage reaching 57% of U.S. covered lives.
- HeartFlow achieved an improved non-GAAP net loss in Q3 2025, as shown in the table, and ended the quarter with $291.2 million in cash and equivalents and zero debt after its August IPO, aiming for cash flow profitability within three years.
| Metric | Q3 2025 | FY 2025 Guidance |
|---|---|---|
| Total Revenue ($USD Millions) | $46.3 | $173.0 - $173.5 |
| Total Revenue Growth (YoY %) | 41% | 37.5% - 38% |
| Global Revenue Cases | 51,805 | N/A |
| Global Revenue Cases Growth (YoY %) | 48% | N/A |
| Non-GAAP Net Loss ($USD Millions) | $13.2 | N/A |
| Non-GAAP EPS ($USD) | $0.27 | N/A |
Nov 12, 2025, 9:30 PM
Heartflow Announces Q3 2025 Financial Results and 2025 Revenue Guidance
HTFL
Earnings
Guidance Update
Revenue Acceleration/Inflection
- Heartflow reported total revenue of $46.3 million for the third quarter of 2025, representing a 41% increase year-over-year.
- The company initiated its full year 2025 revenue guidance, expecting it to be in the range of $173.0 million to $173.5 million.
- For Q3 2025, Heartflow recorded a net operating loss of $15.1 million and a net loss per share of ($1.04).
- Heartflow completed its initial public offering (IPO), raising approximately $364.2 million in gross proceeds, and reported $291.2 million in cash and cash equivalents as of September 30, 2025.
- UnitedHealthcare and Cigna began coverage of Heartflow Plaque Analysis on October 1, 2025.
Nov 12, 2025, 9:03 PM
Quarterly earnings call transcripts for Heartflow.
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