Heartbeam Inc Financials
This page shows Heartbeam Inc (BEAT) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 6 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Externally financed development is HeartBeam’s dominant mechanic, with operating losses consuming cash while short-term balance-sheet coverage narrows.
In FY2025, the net loss of-$21.0M was substantially larger than operating cash flow of-$14.0M ; the accounting loss therefore did not translate dollar-for-dollar into cash outflow. Free cash flow of-$14.6M was close to operating cash flow because capital expenditures were only$600K , showing that ongoing operations—not reinvestment—were the main cash constraint.
Research and development reached
The current ratio fell from 1.7x in FY2024 to 1.4x in FY2025, narrowing short-term coverage. Financing cash flow was
Financial Health Signals
Heartbeam Inc does not currently provide enough eligible data for a peer-relative financial health score, so none is published. The signals and metrics below are current.
Heartbeam Inc passes 1 of 5 computable financial strength tests (4 of the nine could not be computed from available data). 1 of 3 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution).
Heartbeam Inc reported a net loss of $21.0M while operations used $14.0M of cash. With neither figure positive, the ratio between the two carries no quality signal.
Key Financial Metrics
Earnings & Revenue
Heartbeam Inc's EBITDA was -$21.1M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
Heartbeam Inc reported -$21.0M in net income in fiscal year 2025.
Heartbeam Inc earned -$0.62 per diluted share (EPS) in fiscal year 2025. This represents an increase of 15.1% from the prior year.
Not reported for fiscal year 2025.
Cash & Balance Sheet
Heartbeam Inc recorded an outflow of $14.6M in free cash flow in fiscal year 2025, representing a cash shortfall after capex. This represents an increase of 0.6% from the prior year.
Heartbeam Inc held $4.4M in cash as of fiscal year 2025; long-term debt is not reported for that period.
Not reported for fiscal year 2025.
Margins & Returns
Heartbeam Inc's ROE was -807.3% in fiscal year 2025, measuring profit generated per dollar of shareholder equity.
Not reported for fiscal year 2025.
Not reported for fiscal year 2025.
Not reported for fiscal year 2025.
Capital Allocation
Heartbeam Inc invested $13.4M in research and development in fiscal year 2025. This represents an increase of 21.7% from the prior year.
Heartbeam Inc invested $600K in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 198.5% from the prior year.
Not reported for fiscal year 2025.
BEAT Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 |
|---|---|---|---|---|---|---|---|---|
| R&D Expenses | $2.3M-1.8% | $2.4M | N/A | $3.3M-1.4% | $3.3M-4.8% | $3.5M | N/A | $2.9M |
| SG&A Expenses | $2.8M+17.8% | $2.3M | N/A | $2.0M+17.6% | $1.7M-15.0% | $2.0M | N/A | $2.2M |
| Operating Income | -$5.1M-8.0% | -$4.7M | N/A | -$5.3M-5.0% | -$5.0M+8.5% | -$5.5M | N/A | -$5.1M |
| Income Tax | $0 | $0 | N/A | $0 | $0 | $0 | N/A | $0 |
| Net Income | -$5.0M-7.2% | -$4.7M | N/A | -$5.3M-5.6% | -$5.0M+9.3% | -$5.5M | N/A | -$5.0M |
| EPS (Diluted) | -$0.10+16.7% | -$0.12+14.3% | -$0.14+6.7% | -$0.150.0% | -$0.15+16.7% | -$0.180.0% | -$0.18+5.3% | -$0.19 |
Not reported in any period shown, so not listed: Revenue, Cost of Revenue, Gross Profit, Interest Expense.
BEAT Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $10.6M+170.7% | $3.9M-32.8% | $5.8M+103.2% | $2.9M-51.9% | $6.0M-34.3% | $9.1M+178.0% | $3.3M-50.8% | $6.7M |
| Current Assets | $9.0M+269.4% | $2.4M-48.0% | $4.7M+120.4% | $2.1M-60.3% | $5.4M-37.7% | $8.6M+210.8% | $2.8M-54.9% | $6.1M |
| Cash & Equivalents | $8.7M+327.8% | $2.0M-53.4% | $4.4M+136.0% | $1.9M-43.0% | $3.3M-25.8% | $4.4M+84.7% | $2.4M-58.8% | $5.8M |
| Inventory | $110K-17.3% | $133K+29.1% | $103K | N/A | N/A | N/A | $0 | N/A |
| Total Liabilities | $2.5M-25.3% | $3.3M+1.7% | $3.2M+31.2% | $2.5M+37.3% | $1.8M+14.0% | $1.6M-2.7% | $1.6M-12.6% | $1.9M |
| Current Liabilities | $2.5M-25.3% | $3.3M+1.7% | $3.2M+31.2% | $2.5M+37.3% | $1.8M+14.0% | $1.6M-2.7% | $1.6M-12.6% | $1.9M |
| Total Equity | $8.2M+1187.7% | $635K-75.6% | $2.6M+541.1% | $406K-90.3% | $4.2M-44.5% | $7.5M+355.2% | $1.7M-65.5% | $4.8M |
| Retained Earnings | -$87.0M-6.1% | -$82.0M-6.1% | -$77.3M-7.4% | -$72.0M-7.9% | -$66.7M-8.1% | -$61.8M-9.7% | -$56.3M-9.6% | -$51.4M |
Not reported in any period shown, so not listed: Accounts Receivable, Goodwill, Long-Term Debt.
BEAT Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$3.3M+7.4% | -$3.6M-24.2% | -$2.9M+8.0% | -$3.2M+8.3% | -$3.4M+23.1% | -$4.5M-7.8% | -$4.2M-25.6% | -$3.3M |
| Capital Expenditures | $249K+1.2% | $246K-40.9% | $416K+407.3% | $82K-19.6% | $102K | $0 | $0-100.0% | $103K |
| Free Cash Flow | -$3.6M+6.9% | -$3.9M-16.1% | -$3.3M-2.5% | -$3.2M+8.6% | -$3.5M+20.8% | -$4.5M-7.8% | -$4.2M-21.8% | -$3.4M |
| Investing Cash Flow | -$249K-1.2% | -$246K+40.9% | -$416K-124.3% | $1.7M-7.8% | $1.9M+149.5% | -$3.8M | $0+100.0% | -$103K |
| Financing Cash Flow | $10.3M+578.2% | $1.5M-74.1% | $5.8M+12891.1% | $45K-90.0% | $450K-95.6% | $10.3M+1246.9% | $761K+3523.8% | $21K |
Not reported in any period shown, so not listed: Dividends Paid, Share Buybacks.
BEAT Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples.
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 |
|---|---|---|---|---|---|---|---|---|
| Return on Equity | -61.6%+678.5pp | -740.2% | N/A | -1294.3%-1175.4pp | -118.9%-46.1pp | -72.8% | N/A | -103.7% |
| Return on Assets | -47.4%+72.2pp | -119.6% | N/A | -182.7%-99.6pp | -83.2%-22.9pp | -60.2% | N/A | -74.8% |
| Current Ratio | 3.66+2.9x | 0.74-0.7x | 1.45+0.6x | 0.86-2.1x | 2.98-2.5x | 5.46+3.7x | 1.71-1.6x | 3.31 |
| Debt-to-Equity | 0.30-4.9x | 5.19+3.9x | 1.24-4.8x | 6.08+5.7x | 0.43+0.2x | 0.21-0.8x | 0.98+0.6x | 0.39 |
Not reported in any period shown, so not listed: Gross Margin, Operating Margin, Net Margin, FCF Margin.
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Where Heartbeam Inc Ranks
Frequently Asked Questions
Is Heartbeam Inc profitable?
No, Heartbeam Inc (BEAT) reported a net income of -$21.0M in fiscal year 2025.
What is Heartbeam Inc's EBITDA?
Heartbeam Inc (BEAT) had EBITDA of -$21.1M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
What is Heartbeam Inc's return on equity (ROE)?
Heartbeam Inc (BEAT) has a return on equity of -807.3% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Heartbeam Inc's free cash flow?
Heartbeam Inc (BEAT) recorded an outflow of $14.6M in free cash flow during fiscal year 2025. This represents a 0.6% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Heartbeam Inc's operating cash flow?
Heartbeam Inc (BEAT) recorded an outflow of $14.0M in operating cash flow during fiscal year 2025, representing cash used by core business activities.
What are Heartbeam Inc's total assets?
Heartbeam Inc (BEAT) had $5.8M in total assets as of fiscal year 2025, including both current and long-term assets.
What are Heartbeam Inc's capital expenditures?
Heartbeam Inc (BEAT) invested $600K in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How much does Heartbeam Inc spend on research and development?
Heartbeam Inc (BEAT) invested $13.4M in research and development during fiscal year 2025.
What is Heartbeam Inc's current ratio?
Heartbeam Inc (BEAT) had a current ratio of 1.45 as of fiscal year 2025, which is considered adequate.
What is Heartbeam Inc's debt-to-equity ratio?
Heartbeam Inc (BEAT) had a debt-to-equity ratio of 1.24 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Heartbeam Inc's return on assets (ROA)?
Heartbeam Inc (BEAT) had a return on assets of -359.7% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
How does Heartbeam Inc's liquidity compare with its operating cash outflow?
At the end of fiscal year 2025, Heartbeam Inc (BEAT) held $4.4M in cash, cash equivalents and investments, and reported an operating cash outflow of $14.0M over that year. Dividing the one by the other, the reported balance equals about 4 months of the outflow reported that year. This is arithmetic over figures already filed, not a projection: it assumes nothing about future spending, financing or operations.
What is Heartbeam Inc's Piotroski F-Score?
Heartbeam Inc (BEAT) has a Piotroski F-Score of 1 out of 5 computable signals; 4 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Heartbeam Inc's earnings high quality?
Heartbeam Inc (BEAT) reported a net loss of $21.0M while operations used $14.0M of cash. With neither figure positive, the ratio between the two carries no quality signal. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.