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Heartflow, Inc. (HTFL) financial health, profit and balance sheet · Scorvest

HTFL · Nasdaq · United States · Surgical & Medical Instruments & Apparatus

Heartflow, Inc.

San Francisco, CA · Fiscal year ends in December · Figures in USD

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In shortHeartflow, Inc. is loss-making.

Financial health

Weak

Built from five areas over the last five annual reports. Tap an area to see the figures behind it.

How is this score calculated? →

Profitability0

Operating marginShare of each sale left after running the business, before interest and tax.	-36.4%	0/100
Net marginShare of each sale left as profit after every cost, interest and tax.	-66.3%	0/100
Return on equityProfit earned on the money shareholders put in. Above 15% is strong.	–	n/a
Return on invested capitalProfit earned on all the capital used (equity and debt). Above 10% usually means a real competitive edge.	–	n/a

Weight in the score: 25%

Balance sheet33

Current ratioShort-term assets divided by short-term debts. Below 1 can mean tight cash.	5.20×	100/100
Debt / equityDebt compared with the shareholders' stake. Above 2 is heavily indebted.	–	n/a
Net debt / EBITDAYears of operating profit needed to repay net debt. Below 2 is comfortable.	–	n/a
Interest coverageHow many times operating profit covers interest. Below 2 is risky.	-4.22×	0/100
Altman Z''Bankruptcy-risk model. Above 2.6 safe, below 1.1 distress.	-2.45	0/100

Weight in the score: 25%

Cash generation0

Free cash flow marginCash left from each sale after investments. The money that can pay dividends or reduce debt.	-33.5%	0/100
Free cash flow / net incomeHow much accounting profit turns into real cash. Near 1 or above is healthy.	–	n/a
Years with positive free cash flow (last 5)	0 of 3	0/100

Weight in the score: 20%

Stability50
Profitable years (last 5) 0 of 3 0/100
Years of revenue decline (last 5) 0 of 2 100/100
Revenue growth volatility 3.1% 100/100
Operating margin volatility 24.5% 0/100
Weight in the score: 20%
Growth–
Revenue growth, 3-year average – n/a
EPS growth, 3-year average – n/a
Weight in the score: 10%

Profitable years (last 5)	0 of 3	0/100
Years of revenue decline (last 5)	0 of 2	100/100
Revenue growth volatility	3.1%	100/100
Operating margin volatility	24.5%	0/100

Revenue growth, 3-year average	–	n/a
EPS growth, 3-year average	–	n/a

Fiscal year 2025 · change vs prior year

Revenue: $176.0M; ▲ 39.9%
Net income: −$116.8M; ▼ 21.1%
Free cash flow: −$59.0M; ▲ 19.5%
Operating margin: −36.4%; +12.3 pts
Cash & investments: $176.8M; –
Total debt: –; –
Diluted EPS: −$3.17; ▲ 82.4%
Return on equity: –; –

Trends

Annual figures as reported. Hover a bar or point for the exact value.

Revenue and net income

RevenueNet income

Margins

Statements

The last 3 fiscal years from the company's annual reports.

USD millions; negative values in parentheses.

Fiscal year	FY23	FY24	FY25
Revenue	87	126	176
Cost of revenue	29	31	41
Gross profit	58	94	135
Research & development	36	44	65
Selling, general & admin	95	112	134
Operating income	(73)	(61)	(64)
Interest expense	25	23	15
Pre-tax income	(95)	(96)	(117)
Income tax	0.5	0.1	(0.1)
Net income	(96)	(96)	(117)
Diluted EPS	−$25.32	−$17.98	−$3.17
Diluted shares (millions)	4.9	5.4	37

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Risk checks

Altman Z'' score

−2.45 Distress zone

Estimates bankruptcy risk from working capital, retained earnings, operating profit and equity. Above 2.6 is considered safe, below 1.1 signals distress.

Piotroski F-score

5/9

Nine yes-or-no tests on profitability, debt, liquidity and efficiency versus the prior year. 7 to 9 is strong, 0 to 3 is weak.

Positive net income: failed
Positive operating cash flow: failed
Return on assets improved: passed
Cash flow exceeds net income: passed
Long-term debt ratio fell: passed
Current ratio improved: passed
No share dilution: failed
Gross margin improved: passed
Asset turnover improved: failed

Sources

10-QPeriod ending Jun 30, 2026Filed Aug 13, 2026Open the report ↗
10-QPeriod ending Mar 31, 2026Filed May 14, 2026Open the report ↗
10-KPeriod ending Dec 31, 2025Filed Mar 18, 2026Open the report ↗
10-QPeriod ending Sep 30, 2025Filed Nov 12, 2025Open the report ↗
10-QPeriod ending Jun 30, 2025Filed Sep 19, 2025Open the report ↗

All figures: SEC EDGAR. Ratios and scores are computed by Scorvest (see how it works). Information only, not investment advice. How it works

Latest annual report: Jun 30, 2026 · Data updated Aug 13, 2026