HeartBeam, Inc.(BEAT)Earnings, Financials & Key Ratios

BEAT•NASDAQ

$0.87

$35M mkt cap·Price updated May 7, 2026

SectorHealthcare IndustryHealthcare IT Sub-IndustryVirtual Care and Digital Programs

AboutHeartBeam, Inc., a medical technology company, primarily focuses on telemedicine solutions for the detection and monitoring of cardiac disease outside a healthcare facility setting. The company also focuses on providing diagnostic data to physicians with care management of patients with cardiovascular disease. Its telehealth product comprises a credit card sized electrocardiogram machine and a cloud-based diagnostic software system to address the rapidly growing field of remote patient monitoring. The company was incorporated in 2015 and is headquartered in Santa Clara, California.Show more

Revenue$0
EBITDA-$21M-6.3%
Net Income-$21M-8.1%
EPS (Diluted)-0.62+15.1%
ROE-987.32%-346.5%

Technical→

BEAT Key Insights

HeartBeam, Inc. (BEAT) fundamental analysis — strengths, weaknesses & financial health based on data analysis

✓Strengths

No significant strengths identified

✗Weaknesses

✗Weak Piotroski F-Score: 1/9
✗Weak momentum: RS Rating 7 (bottom 7%)
✗Shares diluted 26.5% in last year
✗Trading more than 30% below 52-week high
✗Expensive at 11.3x book value
✗Low asset turnover indicates capital-intensive operations

* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.

BEAT Price & Volume

HeartBeam, Inc. (BEAT) stock price & volume — 10-year historical chart

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BEAT Growth Metrics

HeartBeam, Inc. (BEAT) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR

Revenue CAGR

10 Years-

5 Years-

3 Years-

TTM-

Profit CAGR

10 Years-

5 Years-

3 Years-

TTM-8.06%

EPS CAGR

10 Years-

5 Years-

3 Years-

TTM15.07%

Return on Capital

10 Years-113.35%

5 Years-215.02%

3 Years-285.67%

Last Year-463.63%

Company	Market Cap	Stock Price	P/E Ratio (TTM)	Revenue Growth 1Y	Net Margin	Return on Equity (ROE)	Debt / Equity
AIRTAir T, Inc.Direct Competitor	68.17M	22.50	-10.09	1.75%	-2.48%	-114.63%	23.32
HSDTSolana CompanyDirect Competitor	86.64M	2.15	-1.16	10.57%	-6.8%	-104.96%
IDXXIDEXX Laboratories, Inc.Direct Competitor	45.45B	572.20	43.75	10.42%	24.63%	70.87%	0.67
IRTCiRhythm Technologies, Inc.Direct Competitor	4.1B	124.87	-89.83	26.24%	-3.53%	-20.6%	4.79
BFLYButterfly Network, Inc.Direct Competitor	1.11B	4.24	-13.68	18.96%	-73.63%	-36.79%	0.10
GMEDGlobus Medical, Inc.Direct Competitor	11.51B	85.08	21.70	16.65%	18.92%	13.04%	0.03
LIVNLivaNova PLCProduct Competitor	3.88B	70.93	-15.94	10.74%	7.47%	9.13%	0.39
NVCRNovoCure LimitedProduct Competitor	1.92B	16.83	-13.80	8.28%	-25.66%	-50.82%	0.85

Compare BEAT vs Peers

HeartBeam, Inc. (BEAT) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.

Closest Rival

vs AIRT

Most directly comparable listed peer for BEAT.

Scale Benchmark

vs ISRG

Larger-name benchmark to compare BEAT against a more recognizable public peer.

Peer Set

Compare Top 5

vs AIRT, HSDT, IDXX, IRTC

BEAT Income Statement

HeartBeam, Inc. (BEAT) annual income statement — 10-year revenue, gross profit & net income history

10Y historyFree accessUpdated daily

Line item	Dec'17	Dec'18	Dec'19	Dec'20	Dec'21	Dec'22	Dec'23	Dec'24	Dec'25
Sales/Revenue	286.78M	399.47M	0	0	0	0	0	0	0
Revenue Growth %	37.65%	39.3%	-100%	-	-	-	-	-	-
Cost of Goods Sold	114.41M	148.99M	0	0	0	0	0	0	0
COGS % of Revenue	39.89%	37.3%	-	-	-	-	-	-	-
Gross Profit	172.37M▲ 0%	250.49M▲ 45.3%	0▼ 100.0%	0▲ 0%	0▲ 0%	0▲ 0%	0▲ 0%	0▲ 0%	0▲ 0%
Gross Margin %	60.11%	62.7%	-	-	-	-	-	-	-
Gross Profit Growth %	33.16%	45.32%	-100%	-	-	-	-	-	-
Operating Expenses	135.02M	166.48M	294K	788K	2.29M	13.03M	15.31M	19.89M	21.14M
OpEx % of Revenue	47.08%	41.68%	-	-	-	-	-	-	-
Selling, General & Admin	123.92M	155.28M	253K	655K	2.03M	7.35M	8.52M	8.84M	7.69M
SG&A % of Revenue	43.21%	38.87%	-	-	-	-	-	-	-
Research & Development	11.1M	11.21M	41K	133K	255K	5.68M	6.8M	11.05M	13.45M
R&D % of Revenue	3.87%	2.81%	-	-	-	-	-	-	-
Other Operating Expenses	0	0	0	0	0	0	0	0	0
Operating Income	37.35M▲ 0%	84M▲ 124.9%	-294K▼ 100.3%	-788K▼ 168.0%	-2.29M▼ 190.0%	-13.03M▼ 470.3%	-15.31M▼ 17.5%	-19.89M▼ 29.9%	-21.14M▼ 6.3%
Operating Margin %	13.02%	21.03%	-	-	-	-	-	-	-
Operating Income Growth %	4.15%	124.91%	-100.35%	-168.03%	-189.97%	-470.28%	-17.52%	-29.86%	-6.3%
EBITDA	65.91M	124.17M	0	0	-2.29M	0	0	-19.88M	-21.14M
EBITDA Margin %	22.98%	31.08%	-	-	-	-	-	-	-
EBITDA Growth %	31.47%	88.39%	-100%	-	-	100%	-	-	-6.33%
D&A (Non-Cash Add-back)	28.56M	40.17M	294K	788K	0	13.03M	15.31M	7K	0
EBIT	-5.5M	50.93M	-294K	-788K	-2.29M	-12.96M	-14.64M	-19.89M	0
Net Interest Income	0	0	-242K	-280K	-2.16M	0	675K	446K	0
Interest Income	0	0	0	0	2.17K	66K	675K	446K	122K
Interest Expense	4.9M	9.43M	242K	280K	2.17M	66K	0	0	0
Other Income/Expense	-47.75M	-42.5M	-242K	-280K	-2.14M	69K	675K	439K	124K
Pretax Income	-10.4M▲ 0%	41.5M▲ 499.2%	-536K▼ 101.3%	-1.07M▼ 99.3%	-4.43M▼ 314.6%	-12.96M▼ 192.7%	-14.64M▼ 12.9%	-19.45M▼ 32.9%	-21.02M▼ 8.1%
Pretax Margin %	-3.63%	10.39%	-	-	-	-	-	-	-
Income Tax	6.75M	-370K	0	0	0	0	0	0	0
Effective Tax Rate %	-64.9%	-0.89%	0%	0%	0%	0%	0%	0%	0%
Net Income	-15.96M▲ 0%	42.82M▲ 368.4%	-536K▼ 101.3%	-1.07M▼ 99.3%	-4.43M▼ 314.6%	-12.96M▼ 192.7%	-14.64M▼ 12.9%	-19.45M▼ 32.9%	-21.02M▼ 8.1%
Net Margin %	-5.56%	10.72%	-	-	-	-	-	-	-
Net Income Growth %	-129.86%	368.36%	-101.25%	-99.25%	-314.61%	-192.73%	-12.94%	-32.85%	-8.06%
Net Income (Continuing)	-15.96M	42.82M	-536K	-1.07M	-4.43M	-12.96M	-14.64M	-19.45M	-21.02M
Discontinued Operations	0	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	0
EPS (Diluted)	-0.53▲ 0%	1.20▲ 326.4%	-0.10▼ 107.9%	-0.14▼ 46.9%	-0.56▼ 300.0%	-1.59▼ 183.9%	-0.72▲ 54.7%	-0.73▼ 1.4%	-0.62▲ 15.1%
EPS Growth %	-130.29%	326.42%	-107.94%	-46.9%	-300%	-183.93%	54.72%	-1.39%	15.07%
EPS (Basic)	-0.53	1.20	-0.10	-0.14	-0.56	-1.59	-0.72	-0.73	-0.62
Diluted Shares Outstanding	30.39M	35.78M	8.17M	8.17M	7.81M	8.17M	20.33M	26.65M	33.71M
Basic Shares Outstanding	30.39M	35.78M	8.17M	8.17M	7.81M	8.17M	20.33M	26.65M	33.71M
Dividend Payout Ratio	-	-	-	-	-	-	-	-	-

BEAT Balance Sheet

HeartBeam, Inc. (BEAT) balance sheet — assets, liabilities & shareholders' equity

Line item	Dec'17	Dec'18	Dec'19	Dec'20	Dec'21	Dec'22	Dec'23	Dec'24	Dec'25
Total Current Assets	90.11M	146.66M	7K	51K	14M	4.04M	16.82M	2.77M	4.68M
Cash & Short-Term Investments	36.02M	80.89M	5K	24K	13.19M	3.59M	16.19M	2.38M	4.38M
Cash Only	36.02M	80.89M	5K	24K	13.19M	3.59M	16.19M	2.38M	4.38M
Short-Term Investments	0	0	0	0	0	0	0	0	0
Accounts Receivable	38.49M	52.63M	0	0	0	0	0	0	0
Days Sales Outstanding	48.98	48.09	-	-	-	-	-	-	-
Inventory	5.33M	7.32M	0	0	0	0	0	0	103K
Days Inventory Outstanding	17.01	17.94	-	-	-	-	-	-	-
Other Current Assets	10.27M	5.82M	0	0	0	0	0	393K	202K
Total Non-Current Assets	434.45M	440.14M	0	0	806K	0	306K	506K	1.16M
Property, Plant & Equipment	49.19M	48.38M	56.38M	0	0	0	256K	450K	1.1M
Fixed Asset Turnover	5.83x	8.26x	-	-	-	-	-	-	-
Goodwill	223.1M	238.81M	301.32M	0	0	0	0	0	0
Intangible Assets	141.71M	129.65M	129.6M	0	0	0	0	0	0
Long-Term Investments	0	0	0	0	0	0	0	0	0
Other Non-Current Assets	2.77M	3.32M	-499.92M	0	806K	0	50K	56K	56K
Total Assets	524.56M▲ 0%	586.8M▲ 11.9%	7K▼ 100.0%	51K▲ 628.6%	14M▲ 27347.1%	4.04M▼ 71.1%	17.13M▲ 324.1%	3.28M▼ 80.9%	5.84M▲ 78.4%
Asset Turnover	0.55x	0.68x	-	-	-	-	-	-	-
Asset Growth %	163.62%	11.86%	-100%	628.57%	27347.06%	-71.15%	324.14%	-80.88%	78.36%
Total Current Liabilities	50.95M	49.62M	354K	4.84M	588K	1.67M	1.19M	1.62M	0
Accounts Payable	13.23M	18.16M	24.2M	474K	587K	1.66M	556K	531K	0
Days Payables Outstanding	42.2	44.48	-	-	-	-	-	-	-
Short-Term Debt	2.05M	5.13M	42K	4.29M	0	0	0	0	0
Deferred Revenue (Current)	4.3M	3.08M	-310	0	0	0	0	0	0
Other Current Liabilities	31.38M	23.26M	-23.89M	52K	0	0	636K	0	0
Current Ratio	1.77x	2.96x	0.02x	0.01x	23.81x	2.43x	14.09x	1.71x	-
Quick Ratio	1.66x	2.81x	0.02x	0.01x	23.81x	2.43x	14.09x	1.71x	-
Cash Conversion Cycle	23.8	21.54	-	-	-	-	-	-	-
Total Non-Current Liabilities	223.9M	226.69M	3.38M	0	0	0	0	0	0
Long-Term Debt	197.31M	193.42M	3.38M	0	0	0	0	0	0
Capital Lease Obligations	0	0	0	0	0	0	0	0	0
Deferred Tax Liabilities	0	0	0	0	0	0	0	0	0
Other Non-Current Liabilities	26.6M	33.27M	0	0	0	0	0	0	0
Total Liabilities	274.86M	276.32M	3.73M	4.84M	588K	1.67M	1.19M	1.62M	3.24M
Total Debt	199.36M	198.55M	3.42M	4.29M	0	0	0	0	0
Net Debt	163.33M	117.66M	3.42M	4.27M	-13.19M	-3.59M	-16.19M	-2.38M	-4.38M
Debt / Equity	0.80x	0.64x	-	-	-	-	-	-	-
Debt / EBITDA	3.02x	1.60x	-	-	-	-	-	-	-
Net Debt / EBITDA	2.48x	0.95x	-	-	-	-	-	-	-
Interest Coverage	7.63x	8.91x	-1.21x	-2.81x	-1.06x	-197.44x	-	-	-
Total Equity	250.76M▲ 0%	310.49M▲ 23.8%	-3.73M▼ 101.2%	-4.79M▼ 28.4%	13.41M▲ 380.3%	2.37M▼ 82.3%	15.94M▲ 571.3%	1.65M▼ 89.6%	2.6M▲ 57.4%
Equity Growth %	80.51%	23.82%	-101.2%	-28.39%	380.25%	-82.3%	571.31%	-89.62%	57.38%
Book Value per Share	8.25	8.68	-0.46	-0.59	1.72	0.29	0.78	0.06	0.08
Total Shareholders' Equity	250.76M	310.49M	-3.73M	-4.79M	13.41M	2.37M	15.94M	1.65M	2.6M
Common Stock	32K	33K	1K	0	1K	1K	3K	3K	4K
Retained Earnings	-158.68M	-115.86M	-3.73M	-4.8M	-9.22M	-22.19M	-36.83M	-56.27M	-77.29M
Treasury Stock	0	0	0	0	0	0	0	0	0
Accumulated OCI	-71.9M	-67.2M	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	0

BEAT Cash Flow Statement

HeartBeam, Inc. (BEAT) cash flow — operating, investing & free cash flow history

Line item	Dec'17	Dec'18	Dec'19	Dec'20	Dec'21	Dec'22	Dec'23	Dec'24	Dec'25
Cash from Operations	23.78M	72.75M	-218K	-600K	-3.23M	-9.95M	-12.09M	-14.47M	-13.99M
Operating CF Margin %	8.29%	18.21%	-	-	-	-	-	-	-
Operating CF Growth %	-38.79%	205.89%	-100.3%	-175.23%	-438.33%	-207.99%	-21.56%	-19.66%	3.34%
Net Income	-15.96M	42.82M	-536K	-1.07M	-4.43M	-12.96M	-14.64M	-19.45M	-21.02M
Depreciation & Amortization	28.56M	40.17M	0	0	0	0	0	7K	40K
Stock-Based Compensation	7.68M	0	0	10K	192K	1.12M	3.21M	4.3M	5.15M
Deferred Taxes	6.05M	-2.29M	0	0	0	0	0	0	0
Other Non-Cash Items	-13.65M	-75.09M	242K	276K	2.14M	0	0	0	1.84M
Working Capital Changes	11.1M	57.88M	76K	182K	-1.14M	1.89M	-662K	671K	0
Change in Receivables	-19.1M	-40.92M	0	0	0	0	0	0	0
Change in Inventory	665K	-1.99M	0	0	0	0	0	0	-103K
Change in Payables	-9.62M	3.76M	0	0	0	1.53M	-471K	428K	1.53M
Cash from Investing	-177.19M	-28.85M	0	0	0	0	-256K	-201K	-600K
Capital Expenditures	-13.7M	-24.64M	0	0	0	0	-256K	-201K	-600K
CapEx % of Revenue	4.78%	6.17%	-	-	-	-	-	-	-
Acquisitions	0	0	0	0	0	0	0	0	0
Investments	-	-	-	-	-	-	-	-	-
Other Investing	-162.17M	-4.21M	0	0	0	0	0	0	0
Cash from Financing	166.46M	601K	206K	619K	16.4M	350K	24.99M	866K	16.59M
Debt Issued (Net)	0	0	206K	619K	1.69M	0	0	0	0
Equity Issued (Net)	0	0	0	0	1000K	348K	1000K	730K	0
Dividends Paid	0	0	0	0	0	0	0	0	0
Share Repurchases	0	0	0	0	0	0	0	0	0
Other Financing	166.46M	601K	0	0	0	2K	0	136K	16.59M
Net Change in Cash	12.97M▲ 0%	44.87M▲ 245.9%	-12K▼ 100.0%	19K▲ 258.3%	13.17M▲ 69205.3%	-9.6M▼ 172.9%	12.64M▲ 231.7%	-13.81M▼ 209.2%	2M▲ 114.5%
Free Cash Flow	10.09M▲ 0%	48.11M▲ 377.0%	-218K▼ 100.5%	-600K▼ 175.2%	-3.23M▼ 438.3%	-9.95M▼ 208.0%	-12.35M▼ 24.1%	-14.67M▼ 18.8%	-14.59M▲ 0.6%
FCF Margin %	3.52%	12.04%	-	-	-	-	-	-	-
FCF Growth %	-63.92%	377.04%	-100.45%	-175.23%	-438.33%	-207.99%	-24.14%	-18.81%	0.57%
FCF per Share	0.33	1.34	-0.03	-0.07	-0.41	-1.22	-0.61	-0.55	-0.43
FCF Conversion (FCF/Net Income)	-1.49x	1.70x	0.41x	0.56x	0.73x	0.77x	0.83x	0.74x	0.67x
Interest Paid	0	0	0	0	0	0	0	0	0
Taxes Paid	0	0	0	0	0	0	0	0	0

BEAT Key Ratios

HeartBeam, Inc. (BEAT) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios

Metric	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Return on Equity (ROE)	49.75%	-8.19%	15.26%	-0.35%	-	-102.68%	-164.24%	-159.89%	-221.11%	-987.32%
Return on Invested Capital (ROIC)	24.32%	10.09%	14.96%	-0.1%	-	-	-	-	-	-
Gross Margin	62.14%	60.11%	62.7%	-	-	-	-	-	-	-
Net Margin	25.65%	-5.56%	10.72%	-	-	-	-	-	-	-
Debt / Equity	0.18x	0.80x	0.64x	-	-	-	-	-	-	-
Interest Coverage	-	7.63x	8.91x	-1.21x	-2.81x	-1.06x	-197.44x	-	-	-
FCF Conversion	0.73x	-1.49x	1.70x	0.41x	0.56x	0.73x	0.77x	0.83x	0.74x	0.67x
Revenue Growth	16.7%	37.65%	39.3%	-100%	-	-	-	-	-	-

BEAT Frequently Asked Questions

HeartBeam, Inc. (BEAT) stock FAQ — growth, dividends, profitability & financials explained

Growth & Financials

HeartBeam, Inc. (BEAT) grew revenue by 0.0% over the past year. Growth has been modest.

HeartBeam, Inc. (BEAT) reported a net loss of $21.0M for fiscal year 2025.

Dividend & Returns

HeartBeam, Inc. (BEAT) has a return on equity (ROE) of -987.3%. Negative ROE indicates the company is unprofitable.

HeartBeam, Inc. (BEAT) had negative free cash flow of $14.6M in fiscal year 2025, likely due to heavy capital investments.

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HeartBeam, Inc. (BEAT) financial analysis — history, returns, DCA and operating performance tools

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HeartBeam, Inc.(BEAT)Earnings, Financials & Key Ratios

BEAT Key Insights

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✗Weaknesses

BEAT Price & Volume

BEAT Growth Metrics

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EPS CAGR

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BEAT Peer Comparison

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BEAT Income Statement

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BEAT Cash Flow Statement

BEAT Key Ratios

BEAT Frequently Asked Questions

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