HeartBeam (BEAT)
NASDAQ:BEAT
Top Page
HeartBeam
(NASDAQ:BEAT)
Select Model
Select Model
Rating:44Neutral
Price Target:
$1.00
▼(-60.94% Downside)
Action:ReiteratedDate:03/13/26
The score is primarily held down by weak financial performance (no revenue, large ongoing losses, and significant cash burn with a small/volatile equity base). Technicals also lean bearish with negative MACD and price below key moving averages. Offsetting factors include encouraging earnings-call milestones (FDA progress, product development, early commercialization), but funding needs versus current cash and execution/regulatory risk remain significant.
Positive Factors
Regulatory progress — FDA 510(k) clearances
Two recent 510(k) clearances and a rapid NSE overturn materially de-risk the core regulatory pathway for cleared indications. Durable impact: regulatory momentum shortens commercialization hurdles for software/device offerings, aids clinical adoption, and strengthens conversations with partners and payors over the coming months.
Negative Factors
No revenue; persistent large net losses
The absence of reported revenue alongside growing operating losses highlights that the business has yet to validate commercial demand at scale. Over a multi‑month horizon this drives reliance on external funding, increases execution risk, and means operational progress must convert to paying customers to sustain development and commercialization.
Read all positive and negative factors
Positive Factors
Negative Factors
Regulatory progress — FDA 510(k) clearances
Two recent 510(k) clearances and a rapid NSE overturn materially de-risk the core regulatory pathway for cleared indications. Durable impact: regulatory momentum shortens commercialization hurdles for software/device offerings, aids clinical adoption, and strengthens conversations with partners and payors over the coming months.
Read all positive factors
HeartBeam (BEAT) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$48.07M
Dividend YieldN/A
Average Volume (3M)89.04K
Price to Earnings (P/E)―
Beta (1Y)0.83
Revenue GrowthN/A
EPS Growth4.31%
CountryUS
Employees21
SectorHealthcare
Sector Strength45
IndustryMedical - Healthcare Information Services
Share Statistics
EPS (TTM)-0.14
Shares Outstanding41,087,870
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 Cap0.75
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/Ebitda-1.71
Forecast
1Y Price Target
$4.50Price Target Upside75.78% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering5
EPS Forecast (FY)-0.52
Revenue Forecast (FY)$2.09M
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
null...
HeartBeam Earnings Call Summary
Earnings Call Date:Mar 12, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:May 07, 2026
Earnings Call Sentiment Neutral
The call conveyed meaningful de‑risking of the underlying technology (two FDA 510(k) clearances, working patch prototype, ALIGN ACS pilot enrollment, AI collaboration with Mount Sinai, and an initial commercial partner) and a disciplined cost posture. However, these operational and clinical achievements are balanced by material near‑term financial risk (only $4.4M cash on hand vs. projected $17M–$19M burn in 2026), uncertain regulatory pathway for the ACS indication, and the need to validate commercial adoption beyond a small concierge initial market. Overall, the company demonstrated strong technical and strategic progress but faces significant execution and funding risks that temper the outlook.Positive Updates
Regulatory Milestones — FDA Clearances
Received FDA 510(k) clearance in December 2025 for the 12-lead synthesis software for arrhythmia assessment and previously secured foundational 510(k) clearance for the HeartBeam system (Dec 2024); overturned an NSE in ~2.5 weeks demonstrating productive FDA engagement.
Negative Updates
Limited Cash on Hand and Funding Needs
Cash and cash equivalents plus restricted cash were $4.4M at 12/31/2025, while projected 2026 gross operating cash outflows are ~$17M–$19M — indicating a material near‑term funding requirement despite access to capital markets and ATM/shelf facilities.
Read all updates
Q4-2025 Updates
Positive
Negative
Regulatory Milestones — FDA Clearances
Received FDA 510(k) clearance in December 2025 for the 12-lead synthesis software for arrhythmia assessment and previously secured foundational 510(k) clearance for the HeartBeam system (Dec 2024); overturned an NSE in ~2.5 weeks demonstrating productive FDA engagement.
Read all positive updates
Company Guidance
Guidance from the call: for 2026 HeartBeam expects baseline operating cash outflows of about $14M plus incremental, milestone-driven investments of $3M–$5M, implying gross operating cash outflows of roughly $17M–$19M; cash and cash equivalents were $4.4M at 12/31/2025 and the company has access to capital via a shelf registration, an ATM facility and supportive long‑term stakeholders. 2025 results included a net loss of $21.0M (‑$0.62/share) and Q4 net loss of $5.3M (‑$0.15/share); net cash used in operations was < $14M for the year and $2.9M in Q4 (a 3% year‑over‑year decrease and a 30% decrease versus the same quarter last year). Commercial and clinical targets include a limited rollout into concierge/executive health (1.5M concierge patients, top 10% ≈150k target), a price per patient of $500–$1,000/year, expected 70% adoption within accounts, a 3–5 month payback on onboarding, and breakeven at ~30,000 patients; operational milestones: first customer ClearCardio and new CCO hired, ALIGN ACS pilot (~100 patients) enrolling with expected completion by end‑Q3 2026 to inform a pivotal FDA study, a working 12‑lead patch prototype in clinical studies, and an AI collaboration with Mount Sinai.HeartBeam Financial Statement Overview
Summary
Income Statement
8
Very Negative
Balance Sheet
28
Negative
Cash Flow
12
Very Negative
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Gross Profit | -40.00K | 0.00 | 0.00 | 0.00 | 0.00 |
| EBITDA | -21.14M | -19.88M | 675.00K | 69.00K | -2.29M |
| Net Income | -21.02M | -19.45M | -14.64M | -12.96M | -4.43M |
Balance Sheet | |||||
| Total Assets | 5.84M | 3.28M | 17.13M | 4.04M | 14.00M |
| Cash, Cash Equivalents and Short-Term Investments | 4.38M | 2.38M | 16.19M | 3.59M | 13.19M |
| Total Debt | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Total Liabilities | 3.24M | 1.62M | 1.19M | 1.67M | 588.00K |
| Stockholders Equity | 2.60M | 1.65M | 15.94M | 2.37M | 13.41M |
Cash Flow | |||||
| Free Cash Flow | -14.59M | -14.67M | -12.35M | -9.95M | -3.23M |
| Operating Cash Flow | -13.99M | -14.47M | -12.09M | -9.95M | -3.23M |
| Investing Cash Flow | -600.00K | -201.00K | -256.00K | 0.00 | 0.00 |
| Financing Cash Flow | 16.59M | 866.00K | 24.99M | 350.00K | 16.40M |
HeartBeam Technical Analysis
Negative
2.56
Price Trends
1.36
Negative
1.63
Negative
1.52
Negative
Market Momentum
-0.07
Negative
41.83
Neutral
58.33
Neutral
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 1.23, above the 50-day MA of 1.36, and above the 200-day MA of 1.52, indicating a bearish trend. The MACD of -0.07 indicates Negative momentum. The RSI at 41.83 is Neutral, neither overbought nor oversold. The STOCH value of 58.33 is Neutral, 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% | |
44 Neutral | $48.07M | -3.85 | -571.06% | ― | ― | 4.31% | |
43 Neutral | $2.44K | ― | ― | ― | 31.83% | -25.30% | |
42 Neutral | $11.02M | -0.51 | 336.68% | ― | 187.24% | 82.90% | |
41 Neutral | $2.91M | >-0.01 | -112.81% | ― | -21.88% | 68.40% | |
40 Underperform | $414.65K | -2.13 | ― | ― | -8.57% | -52.17% |
* Healthcare Sector Average
BEAT
HeartBeam
1.17
-0.51
-30.36%
MSPR
MSP Recovery
0.03
-9.63
-99.70%
ONMD
OneMedNet
0.88
0.36
69.23%
ICCT
iCoreConnect
0.01
-3.68
-99.73%
HCTI
Healthcare Triangle
2.52
-3,433.68
-99.93%
VSEE
VSee Health
0.23
-0.93
-80.00%
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.