HEARTFLOW INC Financials
This page shows HEARTFLOW INC (HTFL) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. All figures are derived from SEC filings (10-K and 10-Q reports).
Financial Health Signals
Based on FY2025 annual data. Scores normalized against common benchmarks. How we calculate these scores
HEARTFLOW INC has an operating margin of -36.4%, meaning the company retains $-36 of operating profit per $100 of revenue. This below-average margin results in a low score of 0/100, suggesting thin profitability after operating expenses.
HEARTFLOW INC carries a low D/E ratio of 0.20, meaning only $0.20 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 98/100, indicating a strong balance sheet with room for future borrowing.
With a current ratio of 5.20, HEARTFLOW INC holds $5.20 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 100/100.
While HEARTFLOW INC generated -$54.0M in operating cash flow, capex of $5.0M consumed most of it, leaving -$59.0M in free cash flow. This results in a low score of 0/100, reflecting heavy capital investment rather than weak cash generation.
HEARTFLOW INC generates a -38.9% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 0/100.
For every $1 of reported earnings, HEARTFLOW INC generates $0.46 in operating cash flow (-$54.0M OCF vs -$116.8M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.
HEARTFLOW INC earns $-4.2 in operating income for every $1 of interest expense (-$64.1M vs $15.2M). This narrow margin raises concern about the company's ability to service its debt if operating income declines.
Key Financial Metrics
Earnings & Revenue
HEARTFLOW INC generated $176.0M in revenue in fiscal year 2025.
HEARTFLOW INC's EBITDA was -$58.6M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
HEARTFLOW INC reported -$116.8M in net income in fiscal year 2025.
Cash & Balance Sheet
HEARTFLOW INC generated -$59.0M in free cash flow in fiscal year 2025, representing cash available after capex.
HEARTFLOW INC held $44.8M in cash against $0 in long-term debt as of fiscal year 2025.
HEARTFLOW INC had 86M shares outstanding in fiscal year 2025.
Margins & Returns
HEARTFLOW INC's gross margin was 76.8% in fiscal year 2025, indicating the percentage of revenue retained after direct costs.
HEARTFLOW INC's operating margin was -36.4% in fiscal year 2025, reflecting core business profitability.
HEARTFLOW INC's net profit margin was -66.3% in fiscal year 2025, showing the share of revenue converted to profit.
HEARTFLOW INC's ROE was -38.9% in fiscal year 2025, measuring profit generated per dollar of shareholder equity.
Capital Allocation
HEARTFLOW INC invested $64.9M in research and development in fiscal year 2025.
HEARTFLOW INC spent $228K on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding.
HEARTFLOW INC invested $5.0M in capex in fiscal year 2025, funding long-term assets and infrastructure.
HTFL Income Statement
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 |
|---|---|---|---|---|---|---|---|
| Revenue | $46.3M+6.6% | $43.4M | N/A | N/A | $32.9M+6.1% | $31.1M | N/A |
| Cost of Revenue | $10.9M+2.0% | $10.6M | N/A | N/A | $8.0M+10.8% | $7.2M | N/A |
| Gross Profit | $35.4M+8.0% | $32.8M | N/A | N/A | $24.9M+4.6% | $23.8M | N/A |
| R&D Expenses | $17.3M+15.1% | $15.0M | N/A | N/A | $11.9M+19.4% | $9.9M | N/A |
| SG&A Expenses | $33.2M+5.6% | $31.5M | N/A | N/A | $28.0M-0.3% | $28.1M | N/A |
| Operating Income | -$15.1M-10.1% | -$13.7M | N/A | N/A | -$14.9M-5.3% | -$14.2M | N/A |
| Interest Expense | $3.5M-47.9% | $6.6M | N/A | N/A | $5.3M-12.8% | $6.1M | N/A |
| Income Tax | $30K-49.2% | $59K | N/A | N/A | $0-100.0% | $120K | N/A |
| Net Income | -$50.9M-453.0% | -$9.2M+71.6% | -$32.3M | N/A | -$19.1M+18.1% | -$23.4M-11.7% | -$20.9M |
| EPS (Diluted) | $-1.04 | $-1.46 | N/A | N/A | $-3.43+26.4% | $-4.66 | N/A |
HTFL Balance Sheet
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 |
|---|---|---|---|---|---|---|---|
| Total Assets | $364.4M+128.7% | $159.4M | N/A | $118.7M | N/A | N/A | N/A |
| Current Assets | $327.8M+176.7% | $118.4M | N/A | $82.3M | N/A | N/A | N/A |
| Cash & Equivalents | $291.2M+263.0% | $80.2M | N/A | $51.4M-20.6% | $64.7M-14.2% | $75.4M | N/A |
| Inventory | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Accounts Receivable | $27.9M-6.2% | $29.7M | N/A | $24.6M | N/A | N/A | N/A |
| Goodwill | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Liabilities | $109.8M-89.6% | $1.1B | N/A | $978.2M | N/A | N/A | N/A |
| Current Liabilities | $37.8M+14.9% | $32.9M | N/A | $33.6M | N/A | N/A | N/A |
| Long-Term Debt | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Equity | $254.6M+128.4% | -$894.8M-0.7% | -$889.0M-3.4% | -$859.5M-3.5% | -$830.6M-1.9% | -$814.9M-2.4% | -$795.7M |
| Retained Earnings | -$1.1B-5.0% | -$1.0B | N/A | -$971.0M | N/A | N/A | N/A |
HTFL Cash Flow Statement
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 |
|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$3.0M | N/A | N/A | N/A | -$10.3M | N/A | N/A |
| Capital Expenditures | $1.2M | N/A | N/A | N/A | $1.0M | N/A | N/A |
| Free Cash Flow | -$4.2M | N/A | N/A | N/A | -$11.3M | N/A | N/A |
| Investing Cash Flow | -$1.2M | N/A | N/A | N/A | -$1.0M | N/A | N/A |
| Financing Cash Flow | $214.9M | N/A | N/A | N/A | $983K | N/A | N/A |
| Dividends Paid | 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 |
HTFL Financial Ratios
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 |
|---|---|---|---|---|---|---|---|
| Gross Margin | 76.5%+1.0pp | 75.5% | N/A | N/A | 75.7%-1.1pp | 76.8% | N/A |
| Operating Margin | -32.6%-1.0pp | -31.6% | N/A | N/A | -45.3%+0.3pp | -45.6% | N/A |
| Net Margin | -109.9%-88.7pp | -21.2% | N/A | N/A | -58.1%+17.2pp | -75.3% | N/A |
| Return on Equity | -20.0% | N/A | N/A | N/A | N/A | N/A | N/A |
| Return on Assets | -14.0%-8.2pp | -5.8% | N/A | N/A | N/A | N/A | N/A |
| Current Ratio | 8.66+5.1 | 3.60 | N/A | 2.45 | N/A | N/A | N/A |
| Debt-to-Equity | 0.43+1.6 | -1.18 | N/A | -1.14 | N/A | N/A | N/A |
| FCF Margin | -9.1% | N/A | N/A | N/A | -34.3% | N/A | N/A |
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Frequently Asked Questions
What is HEARTFLOW INC's annual revenue?
HEARTFLOW INC (HTFL) reported $176.0M in total revenue for fiscal year 2025. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
Is HEARTFLOW INC profitable?
No, HEARTFLOW INC (HTFL) reported a net income of -$116.8M in fiscal year 2025, with a net profit margin of -66.3%.
What is HEARTFLOW INC's EBITDA?
HEARTFLOW INC (HTFL) had EBITDA of -$58.6M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
What is HEARTFLOW INC's gross margin?
HEARTFLOW INC (HTFL) had a gross margin of 76.8% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is HEARTFLOW INC's operating margin?
HEARTFLOW INC (HTFL) had an operating margin of -36.4% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is HEARTFLOW INC's net profit margin?
HEARTFLOW INC (HTFL) had a net profit margin of -66.3% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is HEARTFLOW INC's return on equity (ROE)?
HEARTFLOW INC (HTFL) has a return on equity of -38.9% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is HEARTFLOW INC's free cash flow?
HEARTFLOW INC (HTFL) generated -$59.0M in free cash flow during fiscal year 2025. 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 HEARTFLOW INC's operating cash flow?
HEARTFLOW INC (HTFL) generated -$54.0M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are HEARTFLOW INC's total assets?
HEARTFLOW INC (HTFL) had $359.5M in total assets as of fiscal year 2025, including both current and long-term assets.
What are HEARTFLOW INC's capital expenditures?
HEARTFLOW INC (HTFL) invested $5.0M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How much does HEARTFLOW INC spend on research and development?
HEARTFLOW INC (HTFL) invested $64.9M in research and development during fiscal year 2025.
What is HEARTFLOW INC's current ratio?
HEARTFLOW INC (HTFL) had a current ratio of 5.20 as of fiscal year 2025, which is generally considered healthy.
What is HEARTFLOW INC's debt-to-equity ratio?
HEARTFLOW INC (HTFL) had a debt-to-equity ratio of 0.20 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is HEARTFLOW INC's return on assets (ROA)?
HEARTFLOW INC (HTFL) had a return on assets of -32.5% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is HEARTFLOW INC's cash runway?
Based on fiscal year 2025 data, HEARTFLOW INC (HTFL) had $44.8M in cash against an annual operating cash burn of $54.0M. This gives an estimated cash runway of approximately 10 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.
Are HEARTFLOW INC's earnings high quality?
HEARTFLOW INC (HTFL) has an earnings quality ratio of 0.46x, 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.
Can HEARTFLOW INC cover its interest payments?
HEARTFLOW INC (HTFL) has an interest coverage ratio of -4.2x, meaning it can struggle to cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
How financially healthy is HEARTFLOW INC?
HEARTFLOW INC (HTFL) scores 40 out of 100 on our Financial Profile, indicating moderate overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.