Heartflow (NASDAQ:HTFL) Posts Earnings Results

Heartflow (NASDAQ:HTFL) posted its quarterly earnings results on Wednesday. The company reported ($0.29) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.13), Briefing.com reports. The business’s revenue was up 40.5% on a year-over-year basis.

Here are the key takeaways from Heartflow’s conference call:

• Q4 results and outlook showed strong momentum with $49.1 million in Q4 revenue (+40% YoY) and management initiating FY2026 revenue guidance of $218–$222 million (≈24%–26% growth) and non‑GAAP gross margin guidance of 80%–81% while raising the midterm margin target to 85%.
• Commercial traction accelerated—HeartFlow added a record 340 new U.S. accounts in 2025 to reach 1,465 accounts, reported global cases +53% YoY, and expects plaque-enabled account growth toward ~1,000 by year-end 2026.
• Plaque commercialization and evidence advanced materially—Category One CPT code effective Jan 1, 2026, payer coverage now covers ~75% of U.S. lives, and large clinical registries (DECIDE >22,000 patients) plus IVUS comparison data underpin adoption.
• Product and AI initiatives aim to deepen adoption and margins—management pulled forward the PCI Navigator launch to April 2026 and unveiled HeartFlow Autonomous Processing, a phased AI automation plan intended to boost efficiency and support the higher margin target.
• Key near‑term risks remain—management expects plaque revenue to be back‑half weighted at $15–$17 million in 2026, the company reported a GAAP net loss (including one‑time warrant remeasurement) and guidance is forward‑looking and subject to execution, adoption, and reimbursement uncertainties.

Heartflow Trading Up 13.1%

Shares of NASDAQ HTFL traded up $2.95 during midday trading on Wednesday, reaching $25.47. The company’s stock had a trading volume of 3,037,015 shares, compared to its average volume of 1,439,027. The company has a market cap of $2.17 billion and a price-to-earnings ratio of -14.07. Heartflow has a one year low of $20.13 and a one year high of $41.22. The company has a 50 day moving average price of $27.16 and a 200 day moving average price of $30.48.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on HTFL. Weiss Ratings restated a “sell (d)” rating on shares of Heartflow in a research note on Monday, December 29th. Wells Fargo & Company initiated coverage on Heartflow in a research note on Wednesday, January 28th. They set an “overweight” rating and a $38.00 price objective on the stock. Finally, Canaccord Genuity Group reiterated a “buy” rating and set a $40.00 price target on shares of Heartflow in a research report on Monday, March 9th. Five investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $38.50.

Insider Activity

In other Heartflow news, major shareholder Bain Capital Life Sciences Inv sold 2,000,000 shares of Heartflow stock in a transaction on Wednesday, February 4th. The shares were sold at an average price of $28.05, for a total transaction of $56,100,000.00. Following the completion of the sale, the insider owned 10,448,158 shares of the company’s stock, valued at $293,070,831.90. This trade represents a 16.07% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO John C.M. Farquhar sold 22,562 shares of Heartflow stock in a transaction that occurred on Tuesday, February 10th. The shares were sold at an average price of $27.46, for a total transaction of $619,552.52. Following the completion of the sale, the chief executive officer owned 591,656 shares of the company’s stock, valued at $16,246,873.76. This trade represents a 3.67% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 2,117,674 shares of company stock valued at $59,052,646.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in HTFL. Caitong International Asset Management Co. Ltd acquired a new position in Heartflow during the 4th quarter worth $27,000. Russell Investments Group Ltd. acquired a new position in Heartflow in the fourth quarter valued at about $45,000. Legal & General Group Plc bought a new position in Heartflow during the third quarter worth about $59,000. Police & Firemen s Retirement System of New Jersey acquired a new position in shares of Heartflow during the 4th quarter worth about $131,000. Finally, Sandia Investment Management LP bought a new stake in shares of Heartflow in the 3rd quarter valued at about $252,000.

Heartflow Company Profile

HeartFlow, Inc (NASDAQ: HTFL) is a medical technology company that develops non-invasive diagnostic solutions for coronary artery disease. The company’s core offering translates coronary CT angiography (CTA) data into a patient-specific, three-dimensional physiological model of the coronary arteries. Using advanced image processing and computational modeling, HeartFlow’s analysis estimates fractional flow reserve (FFR) values throughout the coronary tree to identify ischemia-producing lesions without the need for invasive pressure-wire measurements.

HeartFlow’s cloud-based service integrates with clinical workflows: clinicians submit coronary CTA images and receive a detailed, color-coded 3D map and report that highlights lesion-specific FFR values and physiological impact.