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Heartbeam (BEAT) investor relations material

Heartbeam Q2 2025 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q2 2025 earnings summary13 Aug, 2025

Executive summary

  • Achieved FDA 510(k) clearance for a portable, cable-free ECG system in December 2024, with 12-lead synthesis software clearance expected by end of 2025; pivotal study showed 93.4% diagnostic agreement with standard ECGs.

  • Commercial readiness efforts include hardware/software enhancements, infrastructure buildout, and engagement with concierge and preventive cardiology practices in Florida and Southern California.

  • Early access and beta programs, plus strategic collaborations (e.g., AccurKardia), have informed product improvements and business model validation.

  • Strong and increasing interest from industry partners and strategic players as regulatory clearance and commercialization approach.

  • Expanded intellectual property portfolio to 21 issued patents worldwide and received multiple industry recognitions, including Innovation in Remote Cardiac Diagnostics.

Financial highlights

  • Net cash used in operating activities was $3.4M for Q2 2025, a 23% decrease from the previous quarter; cash and short-term investments totaled $5.1M at June 30, 2025.

  • Baseline recurring expenditure was $3.1M, 11% lower than the historic baseline; investments in commercial readiness and manufacturing totaled ~$0.3M.

  • Net loss for Q2 2025 was $5.0M, unchanged from Q2 2024; operating expenses for Q2 2025 were $5.0M, slightly down year-over-year.

  • General and administrative expenses decreased, while R&D expenses increased year-over-year for Q2 2025.

  • No material commercial revenue expected in 2025; continued negative cash flow from operations.

Outlook and guidance

  • FDA clearance for 12-lead ECG synthesis software remains on track for Q4 2025, with commercial launch to begin immediately after clearance.

  • Additional FDA submission for arrhythmia assessment algorithm and MI pilot study enrollment expected in Q4.

  • Management expects existing liquidity to be insufficient for the next twelve months, raising substantial doubt about going concern status; plans to raise additional capital.

  • Ongoing focus on capital efficiency, disciplined spending, and minimizing shareholder dilution while funding key milestones.

  • Commercial readiness plans include cardiology reader service and logistics infrastructure.

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Frequently asked questions

HeartBeam, Inc. is a medical technology company focused on developing innovative cardiac care solutions. The company’s primary product is a proprietary 3D-vector ECG platform designed to assist in the detection and diagnosis of heart attacks and other cardiac conditions. HeartBeam aims to provide more accurate and accessible cardiac care tools, enabling healthcare professionals to monitor and diagnose heart-related issues in both clinical and remote settings. The company serves the healthcare industry, particularly in the fields of cardiology and emergency medicine, with a focus on improving diagnostic accuracy and patient outcomes. The company is headquartered in Santa Clara, California, and its shares are listed on the NASDAQ.

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