Logo

BEAT

HeartBeam, Inc.

BEAT

HeartBeam, Inc. • NASDAQ
$0.75 ▲ 24.23% (+0.15)
Market Cap $25.78 M
52w High $3.48
52w Low $0.54
Dividend Yield 0%
P/E -1.14
Volume 98.67M
Outstanding Shares 34.37M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $0 $5.282M ▲ $-5.255M ▼ 0% $-0.15 $-5.247M ▼
Q2-2025 $0 $5.037M ▼ $-4.974M ▲ 0% $-0.15 ▲ $-5.029M ▲
Q1-2025 $0 $5.504M ▲ $-5.484M ▼ 0% $-0.18 $-5.497M ▼
Q4-2024 $0 $4.944M ▼ $-4.907M ▲ 0% $-0.18 ▲ $-4.942M ▲
Q3-2024 $0 $5.069M $-4.979M 0% $-0.19 $-5.069M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $1.856M ▼ $2.876M ▼ $2.47M ▲ $406K ▼
Q2-2025 $5.053M ▼ $5.981M ▼ $1.799M ▲ $4.182M ▼
Q1-2025 $8.15M ▲ $9.107M ▲ $1.578M ▼ $7.529M ▲
Q4-2024 $2.377M ▼ $3.276M ▼ $1.622M ▼ $1.654M ▼
Q3-2024 $5.768M $6.657M $1.856M $4.801M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-5.255M ▼ $-3.16M ▲ $1.715M ▼ $45K ▼ $-1.4M ▼ $-3.242M ▲
Q2-2025 $-4.974M ▲ $-3.445M ▲ $1.861M ▲ $450K ▼ $-1.134M ▼ $-3.547M ▲
Q1-2025 $-5.484M ▼ $-4.477M ▼ $-3.76M ▼ $10.25M ▲ $2.013M ▲ $-4.477M ▼
Q4-2024 $-4.907M ▲ $-4.152M ▼ $0 ▲ $761K ▲ $-3.391M ▼ $-4.152M ▼
Q3-2024 $-4.979M $-3.306M $-103K $21K $-3.388M $-3.409M

Revenue by Products

Product Q4-2019Q1-2020Q2-2020Q3-2020
ClinicalTrialSupportandRelatedServices
ClinicalTrialSupportandRelatedServices
 $10.00M ▲$10.00M ▲$10.00M ▲$10.00M ▲
MonitoringCommercial
MonitoringCommercial
 $60.00M ▲$60.00M ▲$40.00M ▼$60.00M ▲
MonitoringMedicare
MonitoringMedicare
 $40.00M ▲$40.00M ▲$30.00M ▼$40.00M ▲
TechnologyDevicesConsumablesandRelatedServices
TechnologyDevicesConsumablesandRelatedServices
 $0 ▲$0 ▲$0 ▲$0 ▲

Five-Year Company Overview

Income Statement

Income Statement HeartBeam is still a pre‑revenue company. It has not yet generated product sales, so all reported results come from spending on research, development, and overhead. Losses have been steady but relatively modest for a young med‑tech firm. The pattern suggests a typical early-stage profile: building technology and clinical evidence first, with the expectation that any revenue will come only after regulatory clearances and commercial launch. Until then, the income statement will likely continue to show ongoing losses without meaningful offsetting income.

Balance Sheet

Balance Sheet The balance sheet is very simple and almost entirely made up of cash, with no reported debt. Equity is essentially the result of cash raised from investors minus accumulated losses. Asset levels are small, which underlines how early-stage the business still is. The lack of borrowing reduces financial strain, but it also means the company is largely dependent on raising new equity or other funding as cash is spent. The most important balance-sheet question is not leverage, but how long existing cash can support operations before additional capital is needed.

Cash Flow

Cash Flow Cash flow reflects a company that is spending to build, not yet to sell. Operating cash flow has been consistently negative, driven by payroll, clinical work, regulatory preparation, and product development. There is little to no spending on physical assets, so most cash use is tied to people and intellectual property rather than factories or equipment. Free cash flow is negative and will likely remain so until meaningful revenue appears. This makes access to external financing and disciplined cost control critical to keeping the business moving toward commercialization.

Competitive Edge

Competitive Edge HeartBeam is trying to carve out a new niche in cardiac monitoring: portable devices that can recreate the diagnostic richness of a full clinical ECG outside the hospital. Its technology, patent portfolio, and early FDA clearance for a 3D ECG system give it a differentiated position compared with simple, single‑lead consumer devices. Partnerships with interpretation services and a large electronics company could further strengthen its ecosystem. At the same time, it faces serious challenges: large entrenched competitors in cardiology, the need to secure full regulatory clearance for its core software, and the task of convincing clinicians and patients to adopt a new workflow. The moat is promising on paper but still has to be proven in the marketplace.

Innovation and R&D

Innovation and R&D Innovation is the heart of this company. Its 3D vector ECG platform, 12‑lead synthesis capability, and AI‑driven analytics are all focused on bringing hospital‑grade insight to small, consumer‑friendly devices. A sizable patent portfolio and recognition as a leading innovator in portable ECG support the view that its technology is distinctive. R&D is aimed not just at devices, but also at advanced software, AI algorithms, and future integrations with wearables and smartwatches. The upside is a potentially transformative product suite; the risk is that technical, regulatory, and clinical-validation hurdles are all high, and timelines can slip as the company works with regulators and real‑world users.

Summary

HeartBeam is an early-stage, pre‑revenue medical technology company trying to shift cardiac care from the hospital to the home. Financials show a classic development-phase profile: no sales yet, steady losses, negative cash flow, a lean balance sheet dominated by cash, and no debt. The investment story centers almost entirely on its technology, regulatory progress, and future commercialization rather than on current financial performance. If the company can secure full regulatory clearance, scale manufacturing, and win clinician trust, its technology could open up a new category in remote cardiac monitoring. Until then, it remains a high‑uncertainty, high‑execution‑risk story that depends heavily on continued funding and successful product rollout.

NEWS

November 26, 2025 · 4:32 PM UTC

HeartBeam Provides Update on Regulatory Path Following FDA Decision on 12-Lead ECG Synthesis Software Application

Read more

November 13, 2025 · 4:01 PM UTC

HeartBeam Reports Third Quarter 2025 Results

Read more

November 3, 2025 · 6:30 AM UTC

SM ENERGY REPORTS THIRD QUARTER 2025 FINANCIAL AND OPERATING RESULTS; CONTINUED OPERATIONAL EXCELLENCE DRIVES FINANCIAL BEAT

Read more

October 30, 2025 · 7:00 AM UTC

HeartBeam to Host Third Quarter 2025 Results Conference Call on Thursday, November 13, 2025 at 4:30 p.m. Eastern Time

Read more

October 28, 2025 · 7:00 AM UTC

HeartBeam Teams Up With HeartNexus to Deliver Cardiologist-Level ECG Insights Anytime, Anywhere

Read more