BEAT · Heartbeam, Inc. - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | - | - | - | - | - | - | - | - | - | - |
| Cost of Revenue | - | - | - | - | - | - | - | - | - | - |
| Gross Profit | - | - | - | - | - | - | - | - | - | - |
| R&D | $2.37M | - | $3.28M | $3.33M | $3.49M | - | $2.89M | $2.84M | $2.43M | - |
| SG&A | $2.35M | - | $2.01M | $1.71M | $2.01M | - | $2.18M | $2.25M | $2.36M | - |
| Total Operating Expenses | $4.72M | - | $5.29M | $5.04M | $5.50M | - | $5.07M | $5.09M | $4.78M | - |
| D&A | $24.0K | - | - | - | $0 | - | - | - | - | - |
| Operating Income | ($4.72M) | - | ($5.29M) | ($5.04M) | ($5.50M) | - | ($5.07M) | ($5.09M) | ($4.78M) | - |
| Interest Expense | - | - | - | - | - | - | - | - | - | - |
| Income Tax | $0 | - | $0 | $0 | $0 | - | $0 | $0 | $0 | - |
| Net Income | ($4.70M) | - | ($5.25M) | ($4.97M) | ($5.48M) | - | ($4.98M) | ($4.96M) | ($4.61M) | - |
| EPS - Basic | ($0.12) | - | ($0.15) | ($0.15) | ($0.18) | - | ($0.19) | ($0.19) | ($0.17) | - |
| EPS - Diluted | ($0.12) | - | ($0.15) | ($0.15) | ($0.18) | - | ($0.19) | ($0.19) | ($0.17) | - |
Balance Sheet
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $2.04M | $4.38M | $1.86M | $3.26M | $4.39M | $2.38M | $5.77M | $9.16M | $12.64M | $16.19M |
| Accounts Receivable | - | - | - | - | - | - | - | - | - | - |
| Inventory | $133.0K | $103.0K | - | - | - | $0 | - | - | - | - |
| Accounts Payable | $747.0K | $1.05M | $1.02M | $814.0K | $523.0K | $531.0K | - | - | - | $556.0K |
| Current Assets | $2.44M | $4.68M | $2.13M | $5.36M | $8.61M | $2.77M | $6.14M | $9.70M | $13.24M | $16.82M |
| Total Assets | $3.93M | $5.84M | $2.88M | $5.98M | $9.11M | $3.28M | $6.66M | $10.13M | $13.63M | $17.13M |
| Current Liabilities | $3.24M | - | $2.47M | $1.80M | $1.58M | - | $1.86M | $1.19M | - | - |
| Long-term Debt | - | - | - | - | - | - | - | - | - | - |
| Total Liabilities | $3.29M | $3.24M | $2.47M | $1.80M | $1.58M | $1.62M | $1.86M | $1.42M | $1.10M | $1.19M |
| Stockholders' Equity | $635.0K | $2.60M | $406.0K | $4.18M | $7.53M | $1.65M | $4.80M | $8.71M | $12.54M | $15.94M |
| Retained Earnings | ($81.99M) | ($77.29M) | ($71.99M) | ($66.73M) | ($61.76M) | ($56.27M) | ($51.37M) | ($46.39M) | ($41.43M) | ($36.83M) |
Cash Flow
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | ($3.61M) | - | - | - | ($4.48M) | - | - | - | ($3.46M) | - |
| Investing Cash Flow | ($246.0K) | - | - | - | ($3.76M) | - | - | - | ($88.0K) | - |
| Financing Cash Flow | $1.51M | - | - | - | $10.25M | - | - | - | $0 | - |
| CapEx | $246.0K | - | - | - | $0 | - | - | - | $88.0K | - |
| Free Cash Flow | ($3.86M) | - | - | - | ($4.48M) | - | - | - | ($3.55M) | - |
Ratios
| Metric | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Profitability | ||||||||||
| Gross margin | - | - | - | - | - | - | - | - | - | - |
| Operating margin | - | - | - | - | - | - | - | - | - | - |
| EBITDA margin | - | - | - | - | - | - | - | - | - | - |
| Net margin | - | - | - | - | - | - | - | - | - | - |
| Free cash flow margin | - | - | - | - | - | - | - | - | - | - |
| FCF / Net income | 0.82 | - | - | - | 0.82 | - | - | - | 0.77 | - |
| R&D / Revenue | - | - | - | - | - | - | - | - | - | - |
| SG&A / Revenue | - | - | - | - | - | - | - | - | - | - |
| Effective tax rate | - | - | - | - | - | - | - | - | - | - |
| Return on assets | -119.6% | - | -182.7% | -83.2% | -60.2% | - | -74.8% | -48.9% | -33.8% | - |
| Return on equity | -740.2% | - | -1294.3% | -118.9% | -72.8% | - | -103.7% | -56.9% | -36.7% | - |
| Return on invested capital | - | - | - | - | - | - | - | - | - | - |
| Liquidity | ||||||||||
| Current ratio | 0.75 | - | 0.86 | 2.98 | 5.46 | - | 3.31 | 8.12 | - | - |
| Quick ratio | 0.71 | - | 0.86 | 2.98 | 5.46 | - | 3.31 | 8.12 | - | - |
| Cash ratio | 0.63 | - | 0.75 | 1.81 | 2.78 | - | 3.11 | 7.67 | - | - |
| Leverage | ||||||||||
| Debt / Equity | - | - | - | - | - | - | - | - | - | - |
| Debt / Assets | - | - | - | - | - | - | - | - | - | - |
| Debt / EBITDA | - | - | - | - | - | - | - | - | - | - |
| Interest coverage | - | - | - | - | - | - | - | - | - | - |
| Equity multiplier | 6.19 | 2.24 | 7.08 | 1.43 | 1.21 | 1.98 | 1.39 | 1.16 | 1.09 | 1.07 |
| Liabilities / Assets | 0.84 | 0.55 | 0.86 | 0.30 | 0.17 | 0.50 | 0.28 | 0.14 | 0.08 | 0.07 |
| Efficiency | ||||||||||
| Asset turnover | - | - | - | - | - | - | - | - | - | - |
| Inventory turnover | - | - | - | - | - | - | - | - | - | - |
| Days sales outstanding | - | - | - | - | - | - | - | - | - | - |
| Days inventory outstanding | - | - | - | - | - | - | - | - | - | - |
| Days payable outstanding | - | - | - | - | - | - | - | - | - | - |
| Cash conversion cycle | - | - | - | - | - | - | - | - | - | - |
| Valuation | ||||||||||
| P / E | - | - | - | - | - | - | - | - | - | - |
| P / B | 78.0x | - | 139.8x | 10.1x | 8.1x | - | 12.9x | 7.8x | 4.6x | - |
| P / S | - | - | - | - | - | - | - | - | - | - |
| EV / EBITDA | - | - | - | - | - | - | - | - | - | - |
| Growth | ||||||||||
| Revenue growth (YoY) | - | - | - | - | - | - | - | - | - | - |
| Revenue CAGR (3y) | - | - | - | - | - | - | - | - | - | - |
| Revenue CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| Gross profit growth (YoY) | - | - | - | - | - | - | - | - | - | - |
| Operating income growth (YoY) | 14.3% | - | -4.4% | 1.0% | -15.1% | - | -35.6% | -53.7% | -15.1% | - |
| Net income growth (YoY) | 14.3% | - | -5.5% | -0.4% | -19.1% | - | -43.5% | -57.1% | -11.4% | - |
| EPS growth (YoY) | 33.3% | - | 21.1% | 21.1% | -5.9% | - | -46.2% | -18.8% | 66.0% | - |
| EPS CAGR (3y) | - | - | - | - | - | - | - | - | - | - |
| EPS CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| FCF growth (YoY) | 13.9% | - | - | - | -26.1% | - | - | - | - | - |
| FCF CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| Book value growth (YoY) | -91.6% | 57.4% | -91.5% | -52.0% | -40.0% | -89.6% | -74.2% | -58.7% | - | 571.3% |
Peer comparison
Same SIC group: Surgical & Medical Instruments & Apparatus
Comparing HeartBeam against the 5 most active filers in the same SIC group.