Heartflow (NASDAQ:HTFL) Posts Quarterly Earnings Results, Misses Expectations By $0.13 EPS

Heartflow (NASDAQ:HTFL) released its quarterly earnings data 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 firm’s quarterly 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 Stock Performance

Shares of NASDAQ HTFL opened at $25.47 on Thursday. The company’s 50 day moving average price is $27.16 and its 200-day moving average price is $30.48. Heartflow has a 52-week low of $20.13 and a 52-week high of $41.22. The company has a market capitalization of $2.17 billion and a P/E ratio of -14.07.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Heartflow in a research note on Monday, December 29th. Wells Fargo & Company started coverage on Heartflow in a research note on Wednesday, January 28th. They issued an “overweight” rating and a $38.00 price target for the company. Finally, Canaccord Genuity Group reissued a “buy” rating and set a $40.00 price objective on shares of Heartflow in a report on Monday, March 9th. Five research 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’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $38.50.

Insider Activity

In related news, CEO John C.M. Farquhar sold 12,837 shares of Heartflow stock in a transaction on Tuesday, March 10th. The shares were sold at an average price of $22.66, for a total transaction of $290,886.42. Following the completion of the transaction, the chief executive officer owned 581,450 shares of the company’s stock, valued at $13,175,657. This trade represents a 2.16% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Julie A. Cullivan sold 9,122 shares of the business’s stock in a transaction on Thursday, March 5th. The shares were sold at an average price of $25.00, for a total transaction of $228,050.00. Following the completion of the transaction, the director owned 27,291 shares in the company, valued at approximately $682,275. The trade was a 25.05% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 2,117,674 shares of company stock valued at $59,052,646.

Institutional Investors Weigh In On Heartflow

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

About Heartflow

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.