Heartflow (NASDAQ:HTFL) Posts Quarterly Earnings Results, Beats Expectations By $0.15 EPS

Posted by George Bondi on Nov 13th, 2026

Heartflow (NASDAQ:HTFL – Get Free Report) released its quarterly earnings data on Thursday. The company reported ($0.03) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.18) by $0.15, FiscalAI reports. Heartflow had a negative net margin of 55.82% and a negative return on equity of 23.52%. The company had revenue of $72.86 million during the quarter. During the same period in the previous year, the company earned ($0.27) EPS.

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

Heartflow reported Q3 revenue of $72.9 million, up 57% year over year, and raised its 2026 revenue outlook to $262 million–$264 million, representing 49%–50% growth.
Plaque Analysis adoption continued to build: the company raised its 2026 revenue outlook for the product to $36 million–$37 million and expects about 1,300 activated accounts by year-end. Payer coverage reached approximately 82% of U.S. lives.
Non-GAAP gross margin rose to 83.8% from 76.8% a year earlier, while the non-GAAP operating loss narrowed to $5 million. Management raised its full-year gross-margin outlook to about 82.5% and reiterated its midterm 85% target and goal of cash-flow profitability by mid-2028.
Management highlighted clinical results it believes could support adoption: the propensity-matched DECIDE analysis found fewer major cardiovascular events and heart attacks among patients managed with Plaque Analysis, while the P4 trial found CT-guided PCI planning matched IVUS on its primary outcome and reduced procedure time. The company said the findings strengthen the case for its platform and PCI Navigator.
Heartflow plans to expand into high-risk asymptomatic patients through three clinical trials addressing a potential $6 billion opportunity; two are expected to begin enrolling in Q4 2026 and the third in Q1 2027. Management expects to begin reporting data by the end of 2028, so this growth opportunity depends on future evidence and coverage decisions.

Heartflow Stock Down 17.4%

Shares of HTFL traded down $10.44 during mid-day trading on Friday, reaching $49.48. 1,912,555 shares of the stock traded hands, compared to its average volume of 1,610,618. The firm has a market cap of $4.30 billion, a price-to-earnings ratio of -27.01 and a beta of 2.50. The stock has a fifty day simple moving average of $51.93 and a 200 day simple moving average of $35.14. Heartflow has a 12-month low of $20.13 and a 12-month high of $60.65.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on HTFL shares. Weiss Ratings restated a “sell (d-)” rating on shares of Heartflow in a report on Wednesday, November 4th. Benchmark reiterated a “buy” rating on shares of Heartflow in a report on Friday, August 14th. Wells Fargo & Company raised their price objective on Heartflow from $39.00 to $70.00 and gave the company an “overweight” rating in a research report on Friday. UBS Group assumed coverage on Heartflow in a research note on Wednesday, September 9th. They set a “neutral” rating and a $55.00 price objective on the stock. Finally, Wall Street Zen downgraded Heartflow from a “buy” rating to a “hold” rating in a research report on Saturday, November 7th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $60.12.

Read Our Latest Analysis on Heartflow

Insider Activity

In other news, CFO Vikram Verghese sold 29,714 shares of Heartflow stock in a transaction dated Friday, September 11th. The stock was sold at an average price of $50.06, for a total transaction of $1,487,482.84. Following the sale, the chief financial officer directly owned 184,789 shares of the company’s stock, valued at approximately $9,250,537.34. The trade was a 13.85% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Campbell Rogers sold 23,933 shares of the business’s stock in a transaction dated Thursday, October 22nd. The stock was sold at an average price of $55.01, for a total value of $1,316,554.33. Following the completion of the transaction, the insider owned 73,453 shares in the company, valued at approximately $4,040,649.53. This trade represents a 24.58% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 332,403 shares of company stock worth $16,602,786. 7.70% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Heartflow

Several hedge funds and other institutional investors have recently bought and sold shares of HTFL. First Trust Advisors LP acquired a new position in shares of Heartflow in the 3rd quarter valued at approximately $1,931,000. Teachers Retirement System of The State of Kentucky acquired a new stake in shares of Heartflow during the third quarter worth approximately $1,684,000. Allworth Financial LP increased its stake in shares of Heartflow by 116.4% in the third quarter. Allworth Financial LP now owns 1,145 shares of the company’s stock worth $57,000 after buying an additional 616 shares during the last quarter. Pier 88 Investment Partners LLC bought a new stake in shares of Heartflow in the third quarter worth $174,000. Finally, M&G PLC acquired a new stake in Heartflow in the third quarter valued at $15,978,000.

Key Heartflow News

Here’s some of the latest news about HTFL:

Positive Sentiment: Q3 results beat expectations. HeartFlow reported revenue of $72.9 million, above the $65.2 million FactSet estimate, and a loss of $0.03 per share versus the consensus estimate of a $0.18 loss. The per-share loss also narrowed from $0.27 a year earlier. Zacks Q3 results article
Positive Sentiment: Analysts raised targets and maintained bullish ratings. Stifel lifted its target to $70 with a buy rating; Canaccord raised its target to $69 with a buy rating; and Baird increased its target to $68 with an outperform rating. These revisions reflect greater potential upside in analysts’ views.
Negative Sentiment: The CEO sold approximately $2.17 million of HeartFlow stock. Insider sales can weigh on sentiment, though the sale alone does not establish the executive’s reasons. Report on CEO stock sale

About Heartflow

(Get Free Report)

HeartFlow, Inc. is a medical technology company that develops noninvasive tools to help clinicians assess coronary artery disease. Its platform analyzes coronary CT angiography scans to create personalized models of a patient’s coronary arteries and provide information that can support diagnosis and treatment planning. The company’s offerings include HeartFlow FFR CT Analysis, which estimates blood flow and the effects of artery narrowing, and tools for assessing coronary plaque. The technology combines medical imaging with computational analysis and artificial intelligence, giving clinicians information without requiring an invasive procedure to measure blood flow.