Heartflow Reports 41% Revenue Growth to $52.6 Million in Q1 2026

Heartflow, Inc. reported significant financial results for the first quarter of 2026, with revenue reaching $52.6 million, a 41% increase from $37.2 million in the same period last year. This growth was primarily driven by a 67% increase in revenue case volume, although it was partially offset by a reduction in average sales price due to a higher proportion of revenue cases from clinic and office-based accounts. The company's gross profit also saw a substantial rise, increasing to $42.2 million, resulting in a gross margin of 80%, up from 75% in the prior year.

Despite the revenue growth, Heartflow's operating expenses surged by 60% to $71.7 million, largely due to increased research and development costs, which rose by 55% to $21.6 million, and selling, general, and administrative expenses, which increased by 35% to $42.6 million. The company also recorded a non-cash asset impairment charge of $7.5 million related to its Mountain View facility. Consequently, Heartflow reported a net loss of $27.4 million for the quarter, an improvement from the $32.3 million loss reported in the same quarter of 2025.

Operationally, Heartflow has expanded its customer base, with the Heartflow Platform now used to assess coronary artery disease (CAD) in over 650,000 patients, including 219,000 in 2025 alone. The company has also launched a new product, Heartflow PCI Navigator, aimed at optimizing revascularization strategies, and plans to introduce another product, Plaque Tracker, in 2027. The company’s commercial strategy focuses on increasing adoption of its platform among healthcare providers, which is supported by a scalable sales model that emphasizes education and customer retention.

As of March 31, 2026, Heartflow had $254.9 million in cash, cash equivalents, and investments, reflecting a strong liquidity position despite an accumulated deficit of $1.1 billion. The company anticipates continued losses as it invests in growth and transitions to operating as a public company following its IPO in August 2025, which raised approximately $332.4 million. Looking ahead, Heartflow expects to leverage its existing cash reserves and revenue generation to fund operations for at least the next 12 months, while continuing to focus on expanding its product offerings and market presence.