Heartflow (NASDAQ:HTFL) Announces Earnings Results, Beats Estimates By $0.15 EPS

Heartflow (NASDAQ:HTFL) announced its quarterly earnings results on Thursday. The company reported ($0.07) EPS for the quarter, beating analysts’ consensus estimates of ($0.22) by $0.15, FiscalAI reports. The company had revenue of $64.08 million during the quarter. The company’s revenue for the quarter was up 47.7% on a year-over-year basis.

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

• Q2 revenue rose 48% year over year to $64.1 million, with U.S. revenue up 51%, supported by durable FFRCT utilization, accelerating Plaque adoption, new account additions, and continued CCTA market growth.
• HeartFlow raised its 2026 outlook to $246 million–$250 million in revenue, 40%–42% growth, while increasing Plaque revenue guidance to $29 million–$31 million and projected Plaque-enabled accounts to approximately 1,250.
• Profitability metrics improved materially, with non-GAAP gross margin reaching 83.3% versus 75.6% a year ago and non-GAAP net loss shrinking to $5.8 million; management maintained its targets of roughly 85% gross margin and cash-flow profitability by mid-2028.
• The company highlighted multiple growth catalysts, including Plaque Staging, PCI Navigator, Plaque Tracker planned for 2027, autonomous processing, and three clinical trials targeting high-risk asymptomatic patients that could expand the U.S. addressable market by approximately $6 billion.
• HeartFlow said its patent litigation and government civil investigative demand remain multi-year matters, with no material updates provided; management stated it is cooperating and does not view either issue as disrupting operations.

Heartflow Stock Up 3.9%

HTFL traded up $1.16 during trading on Thursday, hitting $31.01. 1,847,245 shares of the stock traded hands, compared to its average volume of 937,099. The business has a 50 day moving average price of $28.80 and a 200 day moving average price of $27.70. Heartflow has a twelve month low of $20.13 and a twelve month high of $41.22.

Analyst Ratings Changes

A number of brokerages have recently issued reports on HTFL. Robert W. Baird initiated coverage on Heartflow in a report on Friday, July 31st. They set an “outperform” rating and a $34.00 price objective for the company. William Blair initiated coverage on Heartflow in a report on Monday, May 4th. They set an “outperform” rating for the company. Piper Sandler restated an “overweight” rating on shares of Heartflow in a research note on Thursday, June 11th. Wells Fargo & Company boosted their target price on shares of Heartflow from $35.00 to $37.00 and gave the company an “overweight” rating in a research report on Friday, May 15th. Finally, Stifel Nicolaus set a $40.00 price target on shares of Heartflow in a research report on Wednesday, July 15th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $36.57.

Insiders Place Their Bets

In related news, insider Campbell Rogers sold 9,219 shares of Heartflow stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $28.34, for a total transaction of $261,266.46. Following the sale, the insider directly owned 78,731 shares in the company, valued at $2,231,236.54. This trade represents a 10.48% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO John C.M. Farquhar sold 22,562 shares of the business’s stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $28.31, for a total transaction of $638,730.22. Following the sale, the chief executive officer directly owned 436,280 shares in the company, valued at $12,351,086.80. The trade was a 4.92% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 115,805 shares of company stock worth $3,530,609. Insiders own 7.70% of the company’s stock.

Institutional Investors Weigh In On Heartflow

Institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. acquired a new stake in shares of Heartflow in the third quarter valued at about $48,871,000. Legal & General Group Plc bought a new stake in Heartflow in the third quarter valued at approximately $59,000. Franklin Resources Inc. acquired a new stake in Heartflow during the 3rd quarter valued at approximately $10,829,000. UBS Group AG bought a new position in Heartflow during the 3rd quarter worth approximately $5,130,000. Finally, Sei Investments Co. acquired a new position in shares of Heartflow in the 3rd quarter worth approximately $303,000.

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.