HeartBeam AI Stock Analysis
Want to see BEAT full AI Analyst Report?
HeartBeam (BEAT) AI Stock Analysis
HeartBeam
(NASDAQ:BEAT)
The score is held down primarily by weak financial performance (no revenue, large losses, and ongoing cash burn), partially offset by improving near-term technical momentum and a cautiously positive earnings update around cash burn reduction, clinical/regulatory progress, and early commercialization. Valuation remains challenging due to negative earnings and no dividend support, and the new ATM facility adds dilution risk despite improving funding flexibility.
HeartBeam (BEAT) vs. SPDR S&P 500 ETF (SPY)
- Market Cap
- $23.16M
- Dividend Yield
- ―
- Average Volume (3M)
- 7.40M
- Price to Earnings (P/E)
- -0.8
- Beta (1Y)
- 0.79
- Revenue Growth
- ―
- EPS Growth
- 26.80%
- Country
- US
- Employees
- 16
- Sector
- Healthcare
- Sector Strength
- 51
- Industry
- Medical - Specialties
HeartBeam Business Overview & Revenue Model
Company Description
HeartBeam, Inc. is a development stage company, which engages in cardiovascular diagnostic technology. Its electrocardiogram (ECG) collection device provides physicians with cardiac diagnostic information for a patient that is outside of a medical in...
HeartBeam Earnings Call Summary
The call emphasized substantial progress on clinical validation, strong IP protection, completed product development milestones, early commercial deployments, and improving cash efficiency — all meaningful positives. Key risks remain: commercial revenue is nascent, regulatory approval for the heart attack detection indication is pending (pre-submitted to FDA), cash balances require disciplined execution to reach profitability, and a leadership transition created near-term one-time costs. On balance, the highlights (clinical momentum, regulatory progress, IP strength, cost reductions and runway extension) outweigh the lowlights (early revenue, regulatory uncertainty, continued net losses), supporting a cautiously positive outlook.
Q2-2026 Updates
Positive Updates
Negative Updates
Company Guidance
Management guided that operating cash flow will step down to below $2.5 million per quarter by Q4 2026 and full‑year 2026 operating cash outflows are expected to come in below $14 million, with $8.8 million in cash and equivalents at June 30 after an $11.5 million April financing; Q2 net cash used in operations was $3.3 million (down 7% sequentially and 3% year‑over‑year) and GAAP net loss was $5.0 million (including ~$0.9 million of one‑time items — $600k stock‑based comp and $300k severance — implying an underlying loss of ~ $4.1M, a 12% sequential and 17% YoY decrease ex‑one‑offs). They submitted a 510(k) pre‑submission to the FDA (75‑day review window) and aim to begin a pivotal MI trial potentially by year‑end, while clinical enrollment progress includes 134 patients in ALIGN‑ACS completed in <4 months, HEADSTART‑ACS >50% enrolled in <3 months of a planned 500‑patient study, and a ~50‑patient patch pilot. Commercial rollout metrics include initial orders and onboarding in multiple concierge practices covering roughly 1.9–2.0 million patients (thousands of early users), manufacturing capacity to scale through 2027, and 25 issued patents worldwide.
HeartBeam Financial Statement Overview
Summary
Financials reflect an early-stage company with no reported revenue, large and widening losses, and persistent negative operating/free cash flow. The main offset is a clean capital structure with no debt and an improved equity base, but ongoing cash burn implies continued reliance on external funding.
Income Statement
12Very NegativeBalance Sheet
58NeutralCash Flow
22Negative| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 0 | 0 | 0 | 0 | 0 | 0 |
| Gross Profit | -24.00K | 0 | 0 | 0 | 0 | 0 |
| EBITDA | -20.24M | -20.98M | -19.44M | 675.00K | 69.00K | -2.26M |
| Net Income | -20.30M | -21.02M | -19.45M | -14.64M | -12.96M | -4.43M |
Balance Sheet | ||||||
| Total Assets | 10.64M | 5.84M | 3.28M | 17.13M | 4.04M | 14.00M |
| Cash, Cash Equivalents and Short-Term Investments | 8.72M | 4.38M | 2.38M | 16.19M | 3.59M | 13.19M |
| Total Debt | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Liabilities | 2.46M | 3.24M | 1.62M | 1.19M | 1.67M | 588.00K |
| Stockholders Equity | 8.18M | 2.60M | 1.65M | 15.94M | 2.37M | 13.41M |
Cash Flow | ||||||
| Free Cash Flow | -14.01M | -14.59M | -14.67M | -12.35M | -9.95M | -3.23M |
| Operating Cash Flow | -13.02M | -13.99M | -14.47M | -12.09M | -9.95M | -3.23M |
| Investing Cash Flow | 804.00K | -600.00K | -201.00K | -256.00K | 0 | 0 |
| Financing Cash Flow | 17.68M | 16.59M | 866.00K | 24.99M | 350.00K | 16.40M |
HeartBeam Technical Analysis
Price Trends
Market Momentum
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For BEAT, the sentiment is Negative. The current price of 0.41 is below the 20-day moving average (MA) of 0.43, below the 50-day MA of 0.43, and below the 200-day MA of 0.80, indicating a bearish trend. The MACD of -0.01 indicates Positive momentum. The RSI at 46.66 is Neutral, neither overbought nor oversold. The STOCH value of 13.69 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for BEAT.
HeartBeam Risk Analysis
HeartBeam disclosed 49 risk factors in its most recent earnings report. HeartBeam reported the most risks in the "Finance & Corporate" category.
Latest Risks Added
3 New RisksHeartBeam Peers Comparison
Overall Rating
- BEAT51Neutral
VSEE41Neutral
HCTI38Underperform
MSPR19Underperform
Financial Indicators
| Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
| Sector * | 51Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% |
| BEAT | 51Neutral | $23.01M | -0.79 | -686.78% | ― | ― | 26.80% |
| VSEE | 41Neutral | $564.25K | -0.03 | -400.87% | ― | -9.31% | 89.42% |
| HCTI | 38Underperform | $3.73M | -0.00 | -56.46% | ― | 116.40% | 99.31% |
| MSPR | 19Underperform | $1,425 | 0.00 | 80.67% | ― | ― | ― |
* Healthcare Sector Average
Performance Comparison
| Show on chart | Ticker | Company Name | Price | Change | % Change |
|---|---|---|---|---|---|
| BEAT | Heartbeam, Inc. | 0.41 | -1.16 | -73.82% | |
| MSPR | Msp Recovery, Inc. | 0.01 | -0.47 | -97.92% | |
| ONMD | Onemednet Corp | 5.37 | -8.73 | -61.91% | |
| HCTI | Healthcare Triangle, Inc. | 4.39 | -2611.61 | -99.83% | |
| VSEE | Vsee Health, Inc. | 0.69 | -59.42 | -98.86% |
HeartBeam Corporate Events
HeartBeam Launches New At-The-Market Equity Offering
PositiveOn August 14, 2026, HeartBeam, Inc. entered into an at-the-market equity offering sales agreement with Titan Partners Securities LLC, allowing the company to sell up to $25 million of its common stock from time to time under its shelf registration. T...
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.
Date of analysis: Oct 07, 2026