The raised guidance and accelerating revenue growth (+41% YoY vs +40% in Q4 2025) confirm durable commercial momentum. Watch for continued FFRCT volume growth and Plaque Analysis adoption as catalysts. The $7.5M impairment is a one-time non-cash item; focus on the underlying operating leverage as non-GAAP gross margins approach 81%.
Price Chart
Executive Summary
Heartflow reported Q1 2026 revenue of $52.6M (+41% YoY), beating the $49.7M consensus, and raised full-year 2026 revenue guidance to $228M-$232M from $218M-$222M, implying 29%-32% YoY growth. GAAP net loss was $27.4M ($-0.32/share) vs $32.3M ($-5.25/share) a year ago, with a $7.5M non-cash impairment charge for the headquarters relocation. The raised guidance and accelerating revenue growth signal strong commercial momentum in FFRCT and Plaque Analysis adoption.
Key Financial Metrics
Key Facts
- Q1 2026 revenue of $52.6M, +41% YoY, above $49.7M consensus
- Full-year 2026 revenue guidance raised to $228M-$232M (29%-32% YoY growth) from prior $218M-$222M (24%-26% YoY growth)
- Non-GAAP gross margin expanded to 80.5% from 75.3% a year ago
- GAAP net loss per share of ($0.32) vs ($5.25) a year ago; non-GAAP net loss per share ($0.16) vs ($3.11)
- Cash, cash equivalents and investments totaled $254.9M as of March 31, 2026
- GAAP operating expenses included a $7.5M non-cash impairment charge for facilities optimization and HQ relocation to San Francisco
Financial Impact
Revenue beat consensus by ~$2.9M (+5.8%); guidance raised by $10M at midpoint (+4.5% vs prior midpoint); non-GAAP gross margin up 520 bps YoY
Risk Factors
- Still unprofitable on a GAAP and non-GAAP basis; GAAP net operating loss widened to $29.5M from $17.5M YoY
- Dependence on single product (FFRCT Analysis) and nascent Plaque Analysis commercialization
- Potential for payer reimbursement changes or competitive pressure from alternative AI diagnostics
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001464521-26-000069 |
| Document: htfl-20260514x8k.htm | 0001464521-26-000069 |
| Document: 0001464521-26-000069-index-headers.html | 0001464521-26-000069 |
| Document: 0001464521-26-000069-index.html | 0001464521-26-000069 |
| Document: 0001464521-26-000069.txt | 0001464521-26-000069 |
| 8-K Data (Synthetic) | 0001464521-26-000069 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 22, 2026 4d ago | 144 | $55.43 | awaiting T+5 | — | $57.01 (+2.84%) |
Oct 22, 2026 4d ago | 144 | $55.43 | awaiting T+5 | — | $57.01 (−2.84%) |
Oct 19, 2026 7d ago | Press Release | $55.59 | awaiting T+5 | — | $57.01 (+2.55%) |
Sep 21, 2026 5w ago | Insider Cluster | $50.17 $49.83 | ▲ +0.68% | ▼ −0.51% | $57.01 (−13.62%) |
Sep 18, 2026 5w ago | Insider Cluster | $50.33 $49.92 | ▲ +0.81% | ▼ −0.21% | $57.01 (−13.26%) |
Sep 15, 2026 5w ago | Insider Cluster | $48.30 $47.39 | ▼ −1.88% | ▼ −4.45% | $57.01 (+18.02%) |
Sep 14, 2026 6w ago | Insider Cluster | $48.33 $50.17 | ▼ −3.81% | ▼ −1.68% | $57.01 (−17.95%) |
Aug 28, 2026 8w ago | Press Release | $47.78 $48.91 | ▲ +2.37% | ▲ +2.26% | $57.01 (+19.31%) |
Aug 25, 2026 8w ago | Insider Cluster | $48.94 $50.00 | ▲ +2.17% | ▲ +2.29% | $57.01 (+16.48%) |
Aug 20, 2026 9w ago | Insider Cluster | $49.75 $47.78 | ▼ −3.96% | ▼ −4.43% | $57.01 (+14.58%) |
US Market Status
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