Heartflow (NASDAQ:HTFL) Announces Earnings Results

Posted by Francis Steltz on May 15th, 2026

Heartflow (NASDAQ:HTFL – Get Free Report) issued its quarterly earnings results on Thursday. The company reported ($0.16) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.24) by $0.08, FiscalAI reports. The business had revenue of $52.59 million for the quarter. Heartflow’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 Price Performance

Shares of HTFL traded up $1.04 during trading hours on Thursday, hitting $32.24. The stock had a trading volume of 1,415,867 shares, compared to its average volume of 1,044,609. The firm has a 50 day simple moving average of $27.19 and a 200-day simple moving average of $28.87. The firm has a market capitalization of $2.78 billion and a P/E ratio of -16.20. Heartflow has a 1-year low of $20.13 and a 1-year high of $41.22.

Analyst Ratings Changes

Several brokerages have recently commented on HTFL. JPMorgan Chase & Co. reduced their target price on Heartflow from $40.00 to $35.00 and set an “overweight” rating for the company in a research note on Thursday, March 19th. Canaccord Genuity Group raised their target price on Heartflow from $40.00 to $43.00 and gave the company a “buy” rating in a research note on Thursday, March 19th. William Blair began coverage on Heartflow in a research note on Monday, May 4th. They issued an “outperform” rating for the company. Finally, Wells Fargo & Company reduced their target price on Heartflow from $38.00 to $35.00 and set an “overweight” rating for the company in a research note on Thursday, March 19th. Six investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $37.67.

Read Our Latest Analysis on HTFL

Insider Buying and Selling at Heartflow

In related news, insider Campbell Rogers sold 64,533 shares of the firm’s stock in a transaction dated Wednesday, April 1st. The shares were sold at an average price of $24.64, for a total value of $1,590,093.12. Following the transaction, the insider owned 81,002 shares of the company’s stock, valued at approximately $1,995,889.28. This trade represents a 44.34% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 firm’s stock in a transaction dated Thursday, April 30th. The shares were sold at an average price of $29.23, for a total transaction of $27,732,167.11. Following the completion of the transaction, the insider directly owned 8,448,158 shares in the company, valued at approximately $246,939,658.34. The trade was a 10.10% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 2,205,874 shares of company stock worth $64,166,729 in the last quarter. 7.70% of the stock is owned by insiders.

Hedge Funds Weigh In On Heartflow

Several large investors have recently added to or reduced their stakes in HTFL. Emerald Mutual Fund Advisers Trust bought a new position in Heartflow in the 3rd quarter valued at about $4,418,000. TrueMark Investments LLC bought a new position in Heartflow in the 3rd quarter valued at about $918,000. Baillie Gifford & Co. bought a new position in Heartflow in the 3rd quarter valued at about $101,182,000. Y Intercept Hong Kong Ltd bought a new position in Heartflow in the 3rd quarter valued at about $234,000. Finally, New York State Common Retirement Fund bought a new position in Heartflow in the 3rd quarter valued at about $4,015,000.

About Heartflow

(Get Free Report)

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.