Heartbeam Financials
This page shows Heartbeam (BEATW) 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).
Financial Health Signals
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Heartbeam 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).
For every $1 of reported earnings, Heartbeam generates $0.67 in operating cash flow (-$14.0M OCF vs -$21.0M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.
Key Financial Metrics
Earnings & Revenue
Heartbeam's EBITDA was -$21.1M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
Heartbeam reported -$21.0M in net income in fiscal year 2025.
Heartbeam earned $-0.62 per diluted share (EPS) in fiscal year 2025. This represents an increase of 15.1% from the prior year.
Cash & Balance Sheet
Heartbeam generated -$14.6M in free cash flow in fiscal year 2025, representing cash available after capex. This represents an increase of 0.6% from the prior year.
Heartbeam held $4.4M in cash against $0 in long-term debt as of fiscal year 2025.
Heartbeam had 40M shares outstanding in fiscal year 2025. This represents an increase of 48.8% from the prior year.
Margins & Returns
Heartbeam's ROE was -807.3% in fiscal year 2025, measuring profit generated per dollar of shareholder equity.
Capital Allocation
Heartbeam invested $13.4M in research and development in fiscal year 2025. This represents an increase of 21.7% from the prior year.
Heartbeam 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.
BEATW Income Statement
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Cost of Revenue | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Gross Profit | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| R&D Expenses | $2.4M | N/A | $3.3M-1.4% | $3.3M-4.8% | $3.5M | N/A | $2.9M+1.7% | $2.8M |
| SG&A Expenses | $2.3M | N/A | $2.0M+17.6% | $1.7M-15.0% | $2.0M | N/A | $2.2M-3.1% | $2.2M |
| Operating Income | -$4.7M | N/A | -$5.3M-5.0% | -$5.0M+8.5% | -$5.5M | N/A | -$5.1M+0.4% | -$5.1M |
| Interest Expense | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Income Tax | $0 | N/A | $0 | $0 | $0 | N/A | $0 | $0 |
| Net Income | -$4.7M | N/A | -$5.3M-5.6% | -$5.0M+9.3% | -$5.5M | N/A | -$5.0M-0.5% | -$5.0M |
| EPS (Diluted) | $-0.12 | N/A | $-0.150.0% | $-0.15+16.7% | $-0.18 | N/A | $-0.190.0% | $-0.19 |
BEATW Balance Sheet
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $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-34.3% | $10.1M |
| Current Assets | $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-36.7% | $9.7M |
| Cash & Equivalents | $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-37.0% | $9.2M |
| Inventory | $133K+29.1% | $103K | N/A | N/A | N/A | $0 | N/A | N/A |
| Accounts Receivable | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Goodwill | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Liabilities | $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+30.7% | $1.4M |
| Current Liabilities | $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+30.7% | $1.4M |
| Long-Term Debt | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Equity | $635K-75.6% | $2.6M+541.1% | $406K-90.3% | $4.2M-44.5% | $7.5M+355.2% | $1.7M-65.5% | $4.8M-44.9% | $8.7M |
| Retained Earnings | -$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-10.7% | -$46.4M |
BEATW Cash Flow Statement
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$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+6.9% | -$3.5M |
| Capital Expenditures | $246K-40.9% | $416K+407.3% | $82K-19.6% | $102K | $0 | $0-100.0% | $103K+930.0% | $10K |
| Free Cash Flow | -$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+4.2% | -$3.6M |
| Investing Cash Flow | -$246K+40.9% | -$416K-124.3% | $1.7M-7.8% | $1.9M+149.5% | -$3.8M | $0+100.0% | -$103K-930.0% | -$10K |
| Financing Cash Flow | $1.5M-74.1% | $5.8M+12891.1% | $45K-90.0% | $450K-95.6% | $10.3M+1246.9% | $761K+3523.8% | $21K-75.0% | $84K |
| Dividends Paid | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
BEATW Financial Ratios
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Operating Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Net Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Return on Equity | -740.2% | N/A | -1294.3%-1175.4pp | -118.9%-46.1pp | -72.8% | N/A | -103.7%-46.8pp | -56.9% |
| Return on Assets | -119.6% | N/A | -182.7%-99.6pp | -83.2%-22.9pp | -60.2% | N/A | -74.8%-25.9pp | -48.9% |
| Current Ratio | 0.74-0.7 | 1.45+0.6 | 0.86-2.1 | 2.98-2.5 | 5.46+3.7 | 1.71-1.6 | 3.31-3.5 | 6.83 |
| Debt-to-Equity | 5.19+3.9 | 1.24-4.8 | 6.08+5.7 | 0.43+0.2 | 0.21-0.8 | 0.98+0.6 | 0.39+0.2 | 0.16 |
| FCF Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
Frequently Asked Questions
Is Heartbeam profitable?
No, Heartbeam (BEATW) reported a net income of -$21.0M in fiscal year 2025.
What is Heartbeam's EBITDA?
Heartbeam (BEATW) had EBITDA of -$21.1M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
What is Heartbeam's return on equity (ROE)?
Heartbeam (BEATW) 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's free cash flow?
Heartbeam (BEATW) generated -$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's operating cash flow?
Heartbeam (BEATW) generated -$14.0M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Heartbeam's total assets?
Heartbeam (BEATW) had $5.8M in total assets as of fiscal year 2025, including both current and long-term assets.
What are Heartbeam's capital expenditures?
Heartbeam (BEATW) invested $600K in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How much does Heartbeam spend on research and development?
Heartbeam (BEATW) invested $13.4M in research and development during fiscal year 2025.
What is Heartbeam's current ratio?
Heartbeam (BEATW) had a current ratio of 1.45 as of fiscal year 2025, which is considered adequate.
What is Heartbeam's debt-to-equity ratio?
Heartbeam (BEATW) 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's return on assets (ROA)?
Heartbeam (BEATW) had a return on assets of -359.7% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Heartbeam's cash runway?
Based on fiscal year 2025 data, Heartbeam (BEATW) had $4.4M in cash against an annual operating cash burn of $14.0M. This gives an estimated cash runway of approximately 4 months at the current burn rate. Cash runway measures how long a company can continue operating before running out of cash, assuming no additional funding.
What is Heartbeam's Piotroski F-Score?
Heartbeam (BEATW) 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's earnings high quality?
Heartbeam (BEATW) has an earnings quality ratio of 0.67x, considered low quality (accrual-driven). 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.