Heartbeam (BEAT) Q2 2026 earnings summary

Executive summary

• Advanced heart attack detection initiatives with clinical validation ahead of schedule, including completed enrollment in ALIGN-ACS and over 50% enrollment in HEADSTART-ACS pilot studies; FDA pre-submission completed and new product form factors developed.

• Initial commercial launch underway, targeting concierge practices and integrated network partnerships, with multiple agreements signed in four U.S. regions and positive feedback from physicians and patients.

• Proprietary TriCor 3D signal reconstruction technology embedded in multiple form factors, protected by 25+ issued patents worldwide, with recent additions expanding acoustic sensing and fluid monitoring capabilities.

• Strategic shift to licensing technology and expanding into international markets, notably Indonesia, with pilot studies and partnerships supporting future growth.

• Leadership changes implemented, with the founder assuming principal executive officer duties following CEO and board member departures.

Financial highlights

• Net cash used in operating activities was $3.3 million for Q2 2026, a 7% decrease from Q1 2026 and a 3% decrease year-over-year.

• Net loss for Q2 2026 was $5.0 million, or $(0.10) per share, including one-time items; adjusted net loss was $4.1 million, down 12% sequentially and 17% year-over-year.

• Cash, cash equivalents, and restricted cash totaled $8.8 million as of June 30, 2026, following an $11.5 million capital raise in April.

• Operating expenses for Q2 2026 were $5.1 million, with SG&A at $2.8 million and R&D at $2.3 million.

• No revenue generated for the three and six months ended June 30, 2026.

Outlook and guidance

• Cash runway extended into 2027 due to reduced cost profile and capital raise, supporting continued execution of strategic priorities.

• Operating cash outflows expected to trend below $14 million for full year 2026, with Q4 baseline spend projected under $2.5 million per quarter.

• Management expects no material commercial revenue in 2026 and ongoing operations depend on raising additional capital.

• Pivotal heart attack detection trial anticipated to begin before year-end, pending FDA feedback.

• Break-even point estimated at fewer than 30,000 patients, with current contracts covering thousands and significant growth potential in major U.S. geographies.