Heartflow Reports Q1 Revenue of $52.59M, Beating Expectations
Written by Emily J. Thompson, Senior Investment Analyst
Updated: May 14 2026
0mins
Reports Q1 revenue $52.59M, consensus $49.7M. "Heartflow entered 2026 with unprecedented momentum, expanding the category leadership we established over the last several years," said John Farquhar, President and CEO of Heartflow. "Our AI-driven platform, deeply embedded commercial footprint, and the world's largest database that recently expanded to over 200 million annotated CCTA images combine to create a foundational advantage that grows stronger with every quarter. The growth of our core FFRCT business remains durable, and adoption of Heartflow Plaque Analysis is ramping ahead of schedule. Most importantly, by helping physicians guide the care of over 650,000 patients worldwide, Heartflow has achieved an unrivaled scale of real-world experience. As the architects of this category, we continue to extend our leadership position, becoming the AI operating system of record for the detection, diagnosis, management, and treatment planning of coronary artery disease."
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Analyst Views on HTFL
Wall Street analysts forecast HTFL stock price to rise
5 Analyst Rating
4 Buy
1 Hold
0 Sell
Strong Buy
Current: 32.840
Low
35.00
Averages
38.60
High
40.00
Current: 32.840
Low
35.00
Averages
38.60
High
40.00
About HTFL
HeartFlow Inc. is a commercial-stage medical technology company that has pioneered the use of software and artificial intelligence (AI) to deliver a non-invasive solution for diagnosing and managing coronary artery disease (CAD). The Company’s novel HeartFlow Platform uses AI and advanced computational fluid dynamics to create a personalized three-dimensional (3D) model of a patient’s heart based on a single coronary computed tomography angiography (CCTA). Its AI-driven platform includes Roadmap Analysis, FFRCT Analysis and Plaque Analysis. The HeartFlow FFRCT Analysis and Plaque Analysis software assists physicians in diagnosing, managing and delivering precision care to patients with CAD. The RoadMap Analysis offers a highly intuitive anatomic visualization of the coronary arteries, helping physicians quickly identify clinically relevant areas to focus their review.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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- Growing Market Demand: The 2026 World Heart Report indicates that congenital heart disease now affects approximately 16 million people globally, up from 11.8 million three decades ago, highlighting the urgent need for advanced diagnostic technologies, particularly in low-income regions.
- Technological Innovation: Ventripoint's VMS+™ platform utilizes artificial intelligence to convert standard 2D echocardiograms into highly accurate 3D heart models, delivering MRI-level measurement accuracy to address the limitations of traditional imaging techniques in complex anatomical structures.
- Global Collaboration: Ventripoint announced its support for the newly formed Global Congenital Heart Disease Alliance (GCHDA) and plans to provide four VMS+™ units to directly support congenital heart disease patients, thereby expanding access to advanced diagnostic care.
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See More
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- Share Acquisition: Intrepid Family Office LLC purchased 110,000 shares of HeartFlow in Q1 2026, with an estimated transaction value of $2.99 million, indicating a bullish outlook towards the company.
- Position Value: By the end of the quarter, HeartFlow's stake was valued at $2.68 million, representing 2.16% of its 13F AUM, which, while outside the top five holdings, still reflects the investor's interest.
- Financial Performance: HeartFlow reported first-quarter revenue of $52.6 million, a 41% year-over-year increase, and despite a net loss of $27.4 million, this was an improvement over the previous year's loss, showcasing growth potential.
- Market Outlook: Although HeartFlow's price-to-sales ratio stands at 14, down from 18 last year, its strong sales growth and improving financials may attract more investor interest, especially given the current low stock price.
See More
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- Holding Proportion Analysis: HeartFlow now accounts for 2.16% of Intrepid Family Office's 13F reportable assets, with major holdings including GLD, VTI, and PPLT, which represent 13.9%, 10.4%, and 5.8% of AUM respectively, showcasing a diversified investment portfolio.
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- Market Outlook: Despite HeartFlow's price-to-sales ratio of 14 being lower than last year's 18, its strong sales growth and improved financial condition suggest a positive outlook for profitability, potentially attracting more institutional investors' interest.
See More
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- Raised Full-Year Outlook: Management raised the 2026 total revenue guidance to $228 million to $232 million, while also increasing the Plaque-specific revenue outlook to $19 million to $21 million, reflecting optimistic expectations for market demand.
- Improved Gross Margin: The first quarter non-GAAP gross margin reached 81%, with management targeting a midterm goal of 85%, indicating ongoing progress in production efficiency and automation that will enhance profitability.
- New Product Launch: HeartFlow launched PCI Navigator in April, receiving positive feedback from interventional cardiologists, with plans for a phased rollout through 2026, which is expected to further drive market penetration and revenue growth.
See More
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- Market Competition and Profitability: While SpaceX shows potential in expanding its Starlink satellite network and launching Falcon rockets, concerns about its profitability are rising, especially under pressure from smaller competitors, prompting investors to approach with caution.
- Heartflow Growth Potential: Heartflow went public at $19 per share in August 2025 and is currently trading around $29, with a 40% revenue increase in 2025 and an expected 24%-26% growth in 2026, indicating strong growth potential in the non-invasive cardiac diagnostics sector.
- Neptune Insurance Market Positioning: Neptune Insurance focuses on flood insurance, achieving a 34% revenue increase in 2025 and expecting a 22% growth in 2026, leveraging AI and geospatial data to automate underwriting processes and meet the urgent demand for customized flood insurance solutions.
See More
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- Market Potential: The company targets a total addressable market of approximately $47 billion in workplace safety and substance testing, reflecting a strong demand for efficient, scalable, and non-invasive solutions, particularly in industries such as mining, aviation, and transportation.
- Data-Driven Approach: MindBio's technology is built on clinical trials and large-scale data analysis involving over 50 million data points, demonstrating high accuracy in intoxication detection, which enhances workplace safety by providing real-time assessments for both consumers and enterprises.
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