)

Heartflow (HTFL) investor relations material
Heartflow Q2 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Executive summary
Completed IPO in August 2025, raising $332.8 million net proceeds; convertible notes converted to equity at IPO close.
Revenue grew 40% year-over-year to $43.4 million for Q2 2025, driven by a 47% increase in revenue case volume.
Net loss for Q2 2025 was $9.2 million, a significant improvement from $23.4 million in Q2 2024.
Cash and cash equivalents were $80.2 million as of June 30, 2025, prior to IPO proceeds.
Heartflow FFRCT Analysis accounted for 98% of total revenue; Plaque Analysis commercialization remains nascent.
Financial highlights
Q2 2025 revenue: $43.4 million, up from $31.1 million in Q2 2024 (40% increase).
Gross margin was 75% in Q2 2025, down from 77% in Q2 2024 due to increased hiring and training.
Operating expenses rose 22% year-over-year to $46.5 million, mainly from R&D and SG&A growth.
Net loss per share improved to $(1.46) from $(4.66) year-over-year.
Six-month revenue ended June 30, 2025: $80.6 million, up 39% year-over-year.
Outlook and guidance
Management expects sufficient liquidity for at least 12 months post-IPO, with continued investment in R&D and commercial expansion.
Anticipates continued losses as the company scales, but expects long-term gross margin improvement through automation and product mix.
Key growth drivers include adoption of CCTA + Heartflow pathway and successful commercialization of new products.
Next Heartflow earnings date

The essential earnings season companion
The #1 app for live earnings calls, transcripts, analyst estimates, and more. All for free.
Live calls and transcripts
Listen to earnings calls, CMDs, investor conferences, and more – with a podcast-like experience.
Find what you need faster
Search for any keyword across all transcripts simultaneously.
Easily store key findings
Capturing important takeaways is as simple as it gets. Even during your lunch run or commute.
Your watchlist. Your dashboard.
Follow the companies that matter to you. Get a personalized feed with real-time updates.
Be the first to know
Set keyword alerts for any company, product, or competitor. Get notified the moment they're mentioned.
Consensus estimates
Access analyst consensus estimates, valuation multiples, and revenue segments splits.
All IR material in one place
The easiest way to stay updated during earnings season.
Global coverage
All events from public companies. Live and recorded.
Just click and listen
No webcast links. No manual registrations.
excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
)
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
)
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
)
excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
)
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
)
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
)
I can't remember the last time an app had such a positive impact on my investment process.
)
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
)
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
)
I can't remember the last time an app had such a positive impact on my investment process.
)
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
)
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
)
)
)
)
Frequently asked questions
Mobile app: Research anytime, anywhere with the #1 app for live earnings calls, transcripts, analyst estimates, and more. All for free.
Desktop (Quartr Pro): The leading platform for qualitative research, used daily by top firms and financial institutions.
Quartr API: Build custom solutions powered by live earnings calls, live transcripts, filings and reports, slide presentations, and more.
Explore our global coverage