HeartFlow, Inc. earnings date
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HeartFlow, Inc. (HTFL) Q3 2026 Earnings Report
HTFL Q3 2026 EPS Results
- Actual EPS
- -$0.03
- Consensus EPS
- -$0.10
- Beat/Miss
- Beat by +$0.07
- One Year Ago EPS
- -$0.27
HTFL Q3 2026 Revenue Results
- Actual Revenue
- $72.86M
- Expected Revenue
- $65.19M
- Beat/Miss
- Beat by +$7.66M
- YoY Revenue Growth
- +57.44%
Earnings Announcement Details
- Quarter
- Q3 2026
- Date
- 11/12/2026
- Time
- After Close
- Conference Call
- Thursday, November 12, 2026
HeartFlow, Inc.'s next earnings date is estimated for March 24, 2027, based on past reporting schedules.
Q3 2026 Earnings Call Audio
Q3 2026 Earnings Slide Deck
No slide deck is available for this earnings event.
Q3 2026 Earnings Call Summary
The call was strongly positive. Revenue, case volumes, Plaque and FFRCT adoption, clinical evidence, gross margins, operating leverage and full-year guidance all improved, while the company reported a well-capitalized balance sheet and increased confidence in reaching cash flow profitability by mid-2028. The principal negative points were the remaining GAAP and non-GAAP operating losses, expected fourth-quarter seasonality, roughly flat sequential Plaque pricing in Q4 and moderation in FFRCT pricing trends beginning in 2027.
For 2026, HeartFlow raised total revenue guidance to $262 million to $264 million, representing 49% to 50% growth, Plaque revenue guidance to $36 million to $37 million, and expects approximately 1,300 Plaque activate accounts by year-end; new account activations are expected to exceed the 340 added in 2025, non-GAAP gross margin is expected to be approximately 82.5%, up 550 basis points year-over-year, non-GAAP operating expenses as a percentage of revenue are expected to decline greater than 5 points year-over-year, and the midpoint implies approximately 60% gross profit growth in 2026. For Q4, FFRCT guidance implies nearly 37% year-over-year volume growth, about 10 points above consensus, ASP assumptions are unchanged, and Plaque pricing is expected to be roughly flat sequentially. Management reiterated its midterm non-GAAP gross margin target of 85% and increased confidence in achieving cash flow profitability by mid-2028; for 2027, it expects OpEx as a percentage of revenue to come down year-over-year, EBIT losses to narrow, and Plaque pricing upside in Q1, a little north of 10% versus consensus.
- Third-Quarter Revenue Growth Exceeded ExpectationsTotal revenue was $72.9 million, up 57% year-over-year, with U.S. revenue up 60%. Management said revenue finished ahead of expectations, marking the third consecutive quarter of accelerating year-over-year revenue growth.
- Full-Year Revenue Outlook RaisedThe company raised its 2026 total revenue outlook to $262 million to $264 million, representing 49% to 50% year-over-year growth and a $15 million increase at the midpoint from prior guidance of $246 million to $250 million.
- Strong Global Case GrowthTotal global revenue cases reached 98,155 in the third quarter, up 89.5% year-over-year. Management attributed performance to strong account activations, durable FFRCT utilization, ramping Plaque utilization and continued expansion of the CCTA market.
- Plaque Revenue and Account Activation MomentumThe company raised its 2026 Plaque revenue outlook to $36 million to $37 million and now expects approximately 1,300 Plaque-active accounts by year-end. Management said Plaque momentum was strong across account activations, physician utilization and payer coverage.
- Plaque Coverage ExpandedPlaque coverage increased to approximately 82% of U.S. lives from about 78% in the prior quarter.
- Broader Plaque Utilization Across Eligible PatientsPhysicians are using Plaque across a wider share of CCTAs, including both patients in the 40% to 70% stenosis range who are also eligible for FFRCT and patients with milder 1% to 40% stenosis. Plaque is applicable to approximately 60% of CCTAs.
- Durable FFRCT Utilization and Account GrowthFFRCT utilization remained strong across existing accounts, while new accounts continued to ramp in line with historical patterns. New accounts generally take about a year to reach near-full FFRCT utilization, and management said both the 2025 and 2026 cohorts were performing strongly.
- New Account Additions Expected to Exceed Prior RecordThe company expects 2026 new account activations to exceed the 340 accounts added in 2025, which was its largest cohort ever. Management said the commercial funnel and account-addition trends remain healthy.
- Integrated Platform Expanded Into PCI PlanningHeartFlow continued rolling out PCI Navigator, which combines anatomy, plaque and physiology for CT-guided PCI planning and extends the HeartFlow AI platform into the cath lab. Management said new accounts are being onboarded with both Plaque and FFRCT at the same time.
- Boston Scientific Collaboration Strengthens Navigator ReachHeartFlow announced a collaboration with Boston Scientific to advance CT-guided PCI planning. Management said the partnership should extend the company's reach and drive additional demand for the CT-plus-HeartFlow pathway.
- Positive P4 Randomized Trial ResultsThe P4 study met its primary endpoint, with CT-guided PCI planning enabled by HeartFlow matching IVUS-guided planning on the one-year target-vessel-failure rate. CT guidance reduced median procedure time by 27%, used approximately 12% less contrast and more than doubled use of advanced calcium-modification tools such as IVL.
- Navigator Real-World Data Demonstrated Procedural ImpactThe Navigate PCI registry found that CT-guided planning with Navigator changed the procedural plan in approximately 70% of patients. Anatomy, plaque and physiology each contributed to plan changes.
- Positive DECIDE Plaque Outcomes DataIn one-year outcomes from the prospective DECIDE registry, patients managed with HeartFlow Plaque Analysis had 34% fewer major CVD events and half the rate of heart attack compared with patients managed with CCTA alone. Fifty percent reached target LDL-C by 90 days versus 35% with CCTA alone, and the improvements were sustained through one year.
- Additional FFRCT Clinical ValidationThe FUSION independent, Dutch government-funded randomized controlled trial became the first randomized controlled trial supporting use of FFRCT. Management also cited four randomized controlled trials and prospective validation against the invasive gold standard of FFR.
- CCTA Market Continues to ExpandManagement said the CCTA market continues to grow at approximately 20% and is supported by guidelines, reimbursement and physician demand. CCTA remains only 11% penetrated in the noninvasive testing market, and management identified photon-counting CT adoption as another positive development.
- High-Risk Asymptomatic Expansion Provides Additional Market OpportunityHeartFlow is pursuing three randomized controlled trials aimed at expanding Plaque use into high-risk asymptomatic populations, representing an approximately $6 billion opportunity and bringing total U.S. TAM to approximately $11 billion. REFINE-CAC and REWRITE-CAD are expected to begin enrolling in the fourth quarter of 2026, while Evolve Plaque with Amgen is expected to begin enrolling in the first quarter of 2027.
- Gross Margin ExpansionThird-quarter non-GAAP gross margin was 83.8%, compared with 76.8% in the third quarter of 2025. Management attributed the improvement to volume leverage, increased Plaque revenue and improved production efficiency enabled by AI-driven automation.
- Gross Margin Guidance RaisedThe company raised full-year 2026 non-GAAP gross margin guidance to approximately 82.5%, up 550 basis points year-over-year, and maintained its midterm non-GAAP gross margin target of 85%.
- Operating Leverage ImprovedThird-quarter non-GAAP operating expenses were $66.1 million, or 90.7% of revenue, compared with 100.9% a year earlier. Non-GAAP operating loss narrowed by more than 50% to $5 million from $11.1 million, as revenue growth outpaced investment.
- Improved Non-GAAP Net LossThird-quarter non-GAAP net loss declined to $2.7 million, or $0.03 per share, from $13.2 million, or $0.27 per share, in the third quarter of 2025.
- Well-Capitalized Balance SheetHeartFlow ended the quarter with $253 million in cash, cash equivalents and investments. Management said the balance sheet provides capital to fund operations through profitability while sustaining R&D and commercial expansion.
- Increased Confidence in Cash Flow ProfitabilityManagement increased its confidence in achieving cash flow profitability by mid-2028 and continued to project cash flow profitability by the middle of 2028.
HTFL Earnings History
| Report Date | Fiscal Quarter | Forecast / EPS | Last Year's EPS | EPS YoY Change | Press Release |
|---|---|---|---|---|---|
| Mar 24, 2027 | 2026 (Q4) | -0.09- | -0.12 | ― | ― |
| Nov 12, 2026 | 2026 (Q3) | -0.10-0.03 | -0.27 | 88.89% (+0.24) | |
| Aug 13, 2026 | 2026 (Q2) | -0.13-0.07 | -0.06 | -16.67% (-0.01) | |
| May 14, 2026 | 2026 (Q1) | -0.19-0.16 | -0.46 | 65.22% (+0.30) | |
| Feb 12, 2026 | 2025 (Q4) | -0.17-0.12 | ― | ― | |
| Nov 12, 2025 | 2025 (Q3) | -0.24-0.27 | ― | ― |
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
