HeartBeam (BEAT)
NASDAQ:BEAT
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HeartBeam
(NASDAQ:BEAT)
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Rating:49Neutral
Price Target:
$0.87
▼(-65.86% Downside)
Action:Reiterated
Date:05/14/26
The score is held down primarily by weak financial performance (no revenue, ongoing losses, and sustained cash burn with shrinking equity). The earnings call provides partial offset due to extended liquidity runway and operational/clinical progress, while technicals are mixed and valuation is constrained by loss-making status and no dividend.
Positive Factors
Extended Liquidity Runway
The $11.5M underwritten offering lifting pro forma cash to ~$12.4M materially reduces near-term financing pressure, giving management capital to complete pilots, advance regulatory work, and support early commercial rollouts. This improves short- to mid-term execution optionality and de-risks immediate funding needs.
Negative Factors
Pre‑Revenue with Large Net Losses
HeartBeam remains pre-revenue while incurring substantial net losses (~$13M–$21M annually). Without meaningful commercial receipts yet, the business lacks self-sustaining cash generation, extending reliance on external capital and lengthening the timeline to profitability and intrinsic value creation.
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Positive Factors
Negative Factors
Extended Liquidity Runway
The $11.5M underwritten offering lifting pro forma cash to ~$12.4M materially reduces near-term financing pressure, giving management capital to complete pilots, advance regulatory work, and support early commercial rollouts. This improves short- to mid-term execution optionality and de-risks immediate funding needs.
Read all positive factors
HeartBeam (BEAT) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$48.77M
Dividend YieldN/A
Average Volume (3M)89.04K
Price to Earnings (P/E)―
Beta (1Y)0.53
Revenue GrowthN/A
EPS Growth23.73%
CountryUS
Employees21
SectorHealthcare
Sector Strength45
IndustryMedical - Healthcare Information Services
Share Statistics
EPS (TTM)-0.57
Shares Outstanding55,506,836
10 Day Avg. Volume76,817
30 Day Avg. Volume89,039
Financial Highlights & Ratios
PEG Ratio0.26
Price to Book (P/B)31.08
Price to Sales (P/S)0.00
P/FCF Ratio-5.55
Enterprise Value/Market Cap0.58
Enterprise Value/RevenueN/A
Enterprise Value/Gross Profit-1.18K
Enterprise Value/Ebitda-1.39
Forecast
1Y Price Target
$3.90Price Target Upside52.34% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering6
EPS Forecast (FY)-0.37
Revenue Forecast (FY)$1.83M
HeartBeam Business Overview & Revenue Model
Company Description
HeartBeam, Inc., a medical technology company, primarily focuses on telemedicine solutions for the detection and monitoring of cardiac disease outside a healthcare facility setting. The company also focuses on providing diagnostic data to physicia...
How the Company Makes Money
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HeartBeam Earnings Call Summary
Earnings Call Date:May 13, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Aug 06, 2026
Earnings Call Sentiment Positive
The call conveyed meaningful operational progress across multiple fronts — financing closed to extend runway, prototype completion and pilot initiations for the 12‑lead patch, enrollment momentum in ALIGN‑ACS, strategic Mount Sinai AI collaboration, and initial commercial anchor partnerships in four target geographies. At the same time, the company remains an early‑stage commercial operation with a Q1 net loss of $4.7M, limited near‑term revenue, reliance on future studies and regulatory approvals for MI indication, and continued cash consumption (though operating cash burn improved 19% YoY and full‑year outflow guidance was reduced to under $16M). On balance, the highlights (funding, clinical progress, partnerships, prototype, AI collaboration, reduced burn) outweigh the lowlights (losses, limited revenue, regulatory and adoption risk), yielding a cautiously positive outlook as the company advances toward de‑risking key milestones.Positive Updates
Strengthened Balance Sheet via Financing
Closed an underwritten public offering on April 16, 2026 with total gross proceeds of $11.5 million ($10.0M initial offering + $1.5M overallotment). Pro forma cash balance is approximately $12.4 million, extending runway into 2027.
Negative Updates
Ongoing Net Loss and Limited Near-Term Revenue
Reported Q1 2026 net loss of $4.7 million. Management emphasized H1 2026 is not a revenue-focused period; Q2 will show some revenue but limited near-term sales with material scaling expected in H2 2026 and 2027.
Read all updates
Q1-2026 Updates
Positive
Negative
Strengthened Balance Sheet via Financing
Closed an underwritten public offering on April 16, 2026 with total gross proceeds of $11.5 million ($10.0M initial offering + $1.5M overallotment). Pro forma cash balance is approximately $12.4 million, extending runway into 2027.
Read all positive updates
Company Guidance
The company guided that it has materially extended runway after an $11.5M underwritten offering ( $10M base + $1.5M over‑allotment) giving pro forma cash of ~ $12.4M versus cash of just over $2M at March 31; Q1 results showed a net loss of $4.7M and operating cash used of $3.6M (a 19% YoY reduction), and management now expects full‑year 2026 cash outflows to be under $16M (previously $17–19M) — with Q1’s $3.6M implying roughly $12M of remaining outflows before customer receipts — providing runway into 2027. Commercially, HeartBeam has flagship accounts in 4 target geographies (NYC, Dallas, South Florida, Southern California), is targeting a ~150,000‑patient Direct Pay segment with a breakeven point at ~30,000 patients, prices subscriptions in the ~$750–$1,000/yr range (management used $750 as an average), expects many early accounts (400–4,000 patients; median ~2,000) to convert 500–1,000 patients each (implying ~$0.75–1.0M revenue per fully penetrated early account), and anticipates some modest revenue in Q2 but front‑loaded cash receipts as most customers pay year one upfront. On development, the ALIGN‑ACS pilot (~100–120 pts) is enrolling ahead of schedule with completion expected by end‑Q3 2026, HEADSTART‑ACS is ~500 pts, the combined clinical program plus pivotal plans should yield on the order of ~1,000 patients to support AI/MI algorithm development, and the company is advancing a 12‑lead patch aimed at a $2B ambulatory monitoring market as part of a strategy to pursue a larger $40B opportunity (20M U.S. at‑risk, including ~8M prior MI).HeartBeam Financial Statement Overview
Summary
Income Statement
12
Very Negative
Balance Sheet
28
Negative
Cash Flow
14
Very Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Gross Profit | -24.00K | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| EBITDA | -20.30M | -21.10M | -19.88M | 675.00K | 69.00K | -2.29M |
| Net Income | -20.23M | -21.02M | -19.45M | -14.64M | -12.96M | -4.43M |
Balance Sheet | ||||||
| Total Assets | 3.93M | 5.84M | 3.28M | 17.13M | 4.04M | 14.00M |
| Cash, Cash Equivalents and Short-Term Investments | 2.04M | 4.38M | 2.38M | 16.19M | 3.59M | 13.19M |
| Total Debt | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Total Liabilities | 3.29M | 3.24M | 1.62M | 1.19M | 1.67M | 588.00K |
| Stockholders Equity | 635.00K | 2.60M | 1.65M | 15.94M | 2.37M | 13.41M |
Cash Flow | ||||||
| Free Cash Flow | -13.97M | -14.59M | -14.67M | -12.35M | -9.95M | -3.23M |
| Operating Cash Flow | -13.12M | -13.99M | -14.47M | -12.09M | -9.95M | -3.23M |
| Investing Cash Flow | 2.91M | -600.00K | -201.00K | -256.00K | 0.00 | 0.00 |
| Financing Cash Flow | 7.86M | 16.59M | 866.00K | 24.99M | 350.00K | 16.40M |
HeartBeam Technical Analysis
Negative
2.56
Price Trends
1.03
Negative
1.38
Negative
1.47
Negative
Market Momentum
-0.03
Negative
42.15
Neutral
12.69
Positive
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 2.56 is above the 20-day moving average (MA) of 0.90, above the 50-day MA of 1.03, and above the 200-day MA of 1.47, indicating a bearish trend. The MACD of -0.03 indicates Negative momentum. The RSI at 42.15 is Neutral, neither overbought nor oversold. The STOCH value of 12.69 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.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
HeartBeam Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
49 Neutral | $48.77M | -2.63 | -1034.04% | ― | ― | 23.73% | |
43 Neutral | $7.79M | -1.15 | 336.68% | ― | 18.05% | 86.68% | |
41 Neutral | $4.89M | ― | -112.81% | ― | 77.50% | 99.28% | |
40 Underperform | $394.70K | -2.13 | ― | ― | -8.57% | -52.17% |
* Healthcare Sector Average
BEAT
HeartBeam
0.88
-0.73
-45.47%
MSPR
MSP Recovery
0.03
-9.84
-99.73%
ONMD
OneMedNet
0.90
0.49
120.24%
HCTI
Healthcare Triangle
2.41
-445.79
-99.46%
VSEE
VSee Health
0.16
-0.93
-85.32%
HeartBeam Corporate Events
Business Operations and StrategyPrivate Placements and Financing
HeartBeam Raises Capital to Advance Cardiac Monitoring Technologies
Positive
Apr 16, 2026
On April 14, 2026, HeartBeam entered into an underwriting agreement with Titan Partners Group for an underwritten public offering of 12,500,000 shares of common stock at a public price of $0.80 per share, with a 30-day option for the underwriter t...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
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.