HeartBeam (NASDAQ:BEAT) Releases Earnings Results, Misses Estimates By $0.01 EPS

HeartBeam (NASDAQ:BEAT) posted its quarterly earnings results on Thursday. The medical research company reported ($0.10) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.01), FiscalAI reports. The business had revenue of $0.10 million for the quarter, compared to the consensus estimate of $0.15 million.

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

• Heart attack detection regulatory progress: HeartBeam submitted an FDA pre-submission for a 510(k) pathway on the AIMIGo heart attack detection indication and expects FDA feedback within 75 days. Management said a pivotal trial could potentially begin before year-end, although the required size and design remain uncertain.
• Clinical studies are advancing quickly: The ALIGN-ACS pilot enrolled 134 emergency-room patients in under four months, with results accepted for presentation at the TCT cardiology conference. The 500-patient HEADSTART-ACS study in Indonesia has surpassed 50% enrollment in less than three months, while a roughly 50-patient patch study is also enrolling ahead of schedule.
• Early commercial rollout is gaining traction: HeartBeam has agreements across New York, Dallas, South Florida, and Southern California, with initial orders shipped and patients being onboarded through concierge practices. Management is refining an intake-based workflow and expects order activity to increase toward the end of Q3, though current signed agreements cover only thousands of patients.
• Cost controls extend the cash runway: Q2 operating cash use declined to $3.3 million, and management expects quarterly operating cash outflow to fall below $2.5 million by Q4, with full-year 2026 operating cash outflows below $14 million. Cash, cash equivalents, and restricted cash totaled $8.8 million at June 30, extending the runway further into 2027, though a pivotal trial could increase spending.
• Platform expansion remains longer term: The company completed a working prototype of its 12-lead patch and highlighted future patent efforts involving acoustic sensing and fluid monitoring for potential heart-valve and congestive-heart-failure applications. These opportunities are not yet commercialized and add further development and regulatory uncertainty.

HeartBeam Stock Down 11.7%

NASDAQ BEAT traded down $0.07 during trading hours on Friday, hitting $0.52. The company had a trading volume of 75,005 shares, compared to its average volume of 1,090,119. The firm has a market cap of $28.92 million, a P/E ratio of -0.95 and a beta of -0.78. HeartBeam has a fifty-two week low of $0.48 and a fifty-two week high of $4.00. The business has a fifty day simple moving average of $0.63 and a 200-day simple moving average of $0.99.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. D. Boral Capital lowered HeartBeam from a “buy” rating to a “hold” rating in a research note on Monday, April 20th. Maxim Group initiated coverage on HeartBeam in a report on Tuesday, July 14th. They issued a “buy” rating and a $2.00 price target for the company. Wall Street Zen raised shares of HeartBeam from a “strong sell” rating to a “sell” rating in a research report on Saturday, May 16th. Benchmark lowered their price target on shares of HeartBeam from $8.00 to $5.00 and set a “speculative buy” rating for the company in a report on Friday, May 15th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of HeartBeam in a research note on Thursday, July 2nd. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $4.00.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in BEAT. Geode Capital Management LLC grew its stake in shares of HeartBeam by 4.1% in the fourth quarter. Geode Capital Management LLC now owns 305,740 shares of the medical research company’s stock worth $734,000 after purchasing an additional 12,142 shares in the last quarter. Kestra Private Wealth Services LLC grew its position in HeartBeam by 23.4% in the 3rd quarter. Kestra Private Wealth Services LLC now owns 175,989 shares of the medical research company’s stock valued at $290,000 after buying an additional 33,344 shares in the last quarter. State Street Corp increased its stake in HeartBeam by 60.1% during the 4th quarter. State Street Corp now owns 125,473 shares of the medical research company’s stock valued at $301,000 after buying an additional 47,100 shares during the period. Raymond James Financial Inc. raised its position in shares of HeartBeam by 212.5% during the 3rd quarter. Raymond James Financial Inc. now owns 88,050 shares of the medical research company’s stock worth $145,000 after buying an additional 59,872 shares in the last quarter. Finally, Insigneo Advisory Services LLC acquired a new stake in shares of HeartBeam in the 4th quarter worth approximately $74,000. Institutional investors and hedge funds own 7.77% of the company’s stock.

About HeartBeam

BioTelemetry, Inc, a remote medical technology company, provides remote cardiac monitoring, remote blood glucose monitoring, centralized core laboratory services for clinical trials, and original equipment manufacturing services for healthcare and clinical research customers worldwide. It operates in two segments, Healthcare and Research. The Healthcare segment focuses on the remote cardiac monitoring to identify cardiac arrhythmias or heart rhythm disorders. This segment offers mobile cardiac telemetry services; and event monitoring services, which enable physicians to prescribe wireless event, digital loop event, memory loop event, memory loop event, and non-loop event monitors.