Heartflow (NASDAQ:HTFL) Issues Quarterly Earnings Results, Beats Expectations By $0.08 EPS

Heartflow (NASDAQ:HTFL) released its quarterly earnings results on Thursday. The company reported ($0.16) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.24) by $0.08, FiscalAI reports. The firm had revenue of $52.59 million during the quarter. The firm’s quarterly revenue was up 41.3% compared to the same quarter last year.

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

• HeartFlow posted a strong Q1 with revenue of $52.6 million, up 41% year over year, driven by 67% global case growth and strong utilization across both legacy and newly added accounts.
• The company raised full-year 2026 guidance to $228 million-$232 million in revenue and increased Plaque-specific revenue outlook to $19 million-$21 million, citing momentum in FFRct and faster-than-expected Plaque adoption.
• Plaque Analysis appears to be ramping ahead of plan, with management saying account activation is ahead of schedule, coverage reached 75% of covered lives, and the installed base is expected to reach about 1,200 sites by year-end.
• Gross margin improved to 80.5% from 75.3% a year ago, and guidance was lifted to about 81%, supported by AI efficiencies, volume leverage, and a richer mix of higher-margin Plaque revenue.
• HeartFlow highlighted major innovation and evidence milestones, including the launch of PCI Navigator, progress on autonomous processing, and a proprietary database now exceeding 200 million annotated CCTA images, while also planning new trials to expand its long-term market opportunity.

Heartflow Trading Down 12.2%

NASDAQ HTFL traded down $3.92 during midday trading on Friday, hitting $28.32. The company had a trading volume of 2,009,108 shares, compared to its average volume of 1,062,957. The company has a market capitalization of $2.44 billion and a PE ratio of -9.11. The firm has a 50-day moving average price of $27.28 and a 200-day moving average price of $28.87. Heartflow has a twelve month low of $20.13 and a twelve month high of $41.22.

Analyst Ratings Changes

HTFL has been the subject of several recent research reports. William Blair initiated coverage on Heartflow in a research note on Monday, May 4th. They issued an “outperform” rating for the company. Wells Fargo & Company boosted their price target on Heartflow from $35.00 to $37.00 and gave the company an “overweight” rating in a research note on Friday. Canaccord Genuity Group reduced their price target on Heartflow from $43.00 to $37.00 and set a “buy” rating for the company in a research note on Friday. Finally, JPMorgan Chase & Co. reduced their price target on Heartflow from $40.00 to $35.00 and set an “overweight” rating for the company in a research note on Thursday, March 19th. Six research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $37.00.

Insiders Place Their Bets

In other news, insider Campbell Rogers sold 64,533 shares of the business’s stock in a transaction on Wednesday, April 1st. The stock was sold at an average price of $24.64, for a total transaction of $1,590,093.12. Following the completion of the transaction, the insider owned 81,002 shares of the company’s stock, valued at approximately $1,995,889.28. The trade was a 44.34% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, major shareholder Bain Capital Life Sciences Inv sold 948,757 shares of the business’s stock in a transaction on Thursday, April 30th. The stock was sold at an average price of $29.23, for a total value of $27,732,167.11. Following the transaction, the insider directly owned 8,448,158 shares of the company’s stock, valued at $246,939,658.34. This trade represents a 10.10% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 2,205,874 shares of company stock worth $64,166,729 over the last 90 days. Corporate insiders own 7.70% of the company’s stock.

Hedge Funds Weigh In On Heartflow

A number of institutional investors have recently modified their holdings of HTFL. Wellington Management Group LLP bought a new stake in Heartflow during the 3rd quarter worth $164,263,000. Baillie Gifford & Co. bought a new stake in shares of Heartflow in the 3rd quarter valued at about $101,182,000. Schusterman Interests LLC bought a new stake in shares of Heartflow in the 3rd quarter valued at about $65,274,000. Capricorn Investment Group LLC bought a new stake in shares of Heartflow in the 4th quarter valued at about $48,178,000. Finally, Vanguard Group Inc. bought a new stake in shares of Heartflow in the 3rd quarter valued at about $48,871,000.

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.