HeartBeam, Inc. BEAT
HeartBeam is a medical technology company focused on transforming cardiac care through the power of personalized insights. Our aim is to deliver innovative, higher resolution ambulatory cardiac monitoring solutions that can be used by patients anywhere to enable the detection and monitoring of cardiac disease outside of a healthcare facility. Our ability to develop higher resolution Electrocardiogram ("ECG") solutions is achieved through the development of our proprietary and patented technology platform that allows us to collect the heart's electrical activity from three dimensions and synthesize a 12-Lead ("12L") ECG from these signals.
We believe our Products ("Products" or "Product") and services will benefit many stakeholders, including patients, healthcare providers, and healthcare payers, and will also address the rapidly growing field of ambulatory cardiac monitoring. As part of our long-term vision, we believe that we are uniquely positioned to play a central role in high-risk Coronary Artery Disease ("CAD") monitoring, given positive, proof-of-concept data from the initial feasibility studies that demonstrated comparable performance of the HeartBeam System and the standard 12L ECG in ischemia detection. CAD patients are at increased risk for a heart attack or Myocardial Infarction ("MI"). Additionally, our unique portable form-factor will make high-fidelity insights easily accessible, wherever patients are, compared to a standard 12L ECG, which is typically limited to a healthcare setting.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 |
|---|---|---|---|---|---|---|---|
| R&D | $13.4M | $11.1M | $6.8M | $5.7M | $255.0K | $133.0K | — |
| SG&A | $7.7M | $8.8M | $8.5M | $7.4M | $2.0M | $655.0K | — |
| Total operating expenses | $21.1M | $19.9M | $15.3M | $13.0M | $2.3M | $788.0K | — |
| Operating income | -$21.1M | -$19.9M | -$15.3M | -$13.0M | -$2.3M | -$788.0K | — |
| Interest expense | — | — | — | — | $2.2M | $280.0K | — |
| Pre-tax income | -$21.0M | -$19.4M | -$14.6M | -$13.0M | -$4.4M | -$1.1M | — |
| Income tax | $0 | $0 | $0 | $0 | $0 | $0 | — |
| Net income | -$21.0M | -$19.4M | -$14.6M | -$13.0M | -$4.4M | -$1.1M | — |
| EPS, basic | -0.62 | -0.73 | -0.72 | -1.59 | -1.03 | -0.29 | — |
| EPS, diluted | -0.62 | -0.73 | -0.72 | -1.59 | -1.03 | -0.29 | — |
| Shares, diluted (wtd. avg.) | 33.7M | 26.6M | 20.3M | 8.2M | 4.3M | 3.6M | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 |
|---|---|---|---|---|---|---|---|
| Cash and equivalents | $4.4M | $2.4M | $16.2M | $3.6M | $13.2M | $24.0K | $5.0K |
| Inventory | $103.0K | $0 | — | — | — | — | — |
| Total current assets | $4.7M | $2.8M | $16.8M | $4.0M | — | — | — |
| Property, plant and equipment | $1.1M | $450.0K | $256.0K | $0 | — | — | — |
| Total assets | $5.8M | $3.3M | $17.1M | $4.0M | $14.0M | $51.0K | — |
| Accounts payable | $1.1M | $531.0K | $556.0K | $1.7M | $588.0K | $489.0K | — |
| Total liabilities | $3.2M | $1.6M | $1.2M | $1.7M | $588.0K | $4.8M | — |
| Retained earnings | -$77.3M | -$56.3M | -$36.8M | -$22.2M | -$9.2M | -$4.8M | — |
| Total equity | $2.6M | $1.7M | $15.9M | $2.4M | $13.4M | -$4.8M | -$3.7M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 |
|---|---|---|---|---|---|---|---|
| Operating cash flow | -$14.0M | -$14.5M | -$12.1M | -$9.9M | -$3.2M | -$600.0K | — |
| Depreciation and amortisation | $40.0K | $7.0K | $0 | — | — | — | — |
| Stock-based compensation | $5.1M | $4.3M | $3.2M | $1.1M | $192.0K | $10.0K | — |
| Capital expenditure | $600.0K | $201.0K | $256.0K | $0 | — | — | — |
| Investing cash flow | -$600.0K | -$201.0K | -$256.0K | $0 | — | — | — |
| Financing cash flow | $16.6M | $866.0K | $25.0M | $350.0K | $16.4M | $619.0K | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001193125-26-104080.
Plot the figures US dollars
- Revenue
- Gross profit
- Net income
| Fiscal year | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|
| Revenue | — | — | — | — | — | — | — |
| Gross profit | — | — | — | — | — | — | — |
| Net income | — | -$1.1M | -$4.4M | -$13.0M | -$14.6M | -$19.4M | -$21.0M |
Recent filings and events
- Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
- Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
- Shareholder vote The results of the annual meeting or a special vote. Item 5.07
- Delisting notice The exchange has told the company it no longer meets the rules for staying listed - usually price, market cap, or filings that are late. Item 3.01
- Officer or director change Item 5.02
- Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
- Officer or director change Item 5.02
- Material agreement signed Item 1.01
- Other event Item 8.01
- Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
- Other event Item 8.01
- Shareholder vote Item 5.07
Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.
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