Heartbeam (BEAT) Q2 2026 earnings summary

Executive summary

• Advanced heart attack detection initiatives with clinical validation ahead of schedule, including completed enrollment in the ALIGN-ACS pilot study and over 50% enrollment in the HEADSTART-ACS study in Indonesia; FDA pre-submission completed for a new indication.

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

• Proprietary TriCor 3D signal reconstruction technology embedded in card, patch, and remote unit form factors, addressing post-discharge, in-hospital, and remote monitoring needs; robust IP portfolio with 25+ issued patents and recent expansion into acoustic sensing and fluid monitoring.

• Strategic operational realignment and leadership changes implemented, including CEO and board member departures and the founder assuming principal executive officer duties.

• Extended cash runway into 2027, supporting continued execution of strategic priorities.

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 related to leadership transition; underlying net loss would have been $4.1 million, down 12% sequentially and 17% year-over-year.

• Cash, cash equivalents, and restricted cash totaled $8.8 million at 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 and 2025.

Outlook and guidance

• Expectation to start pivotal heart attack detection trial before year-end, pending FDA feedback.

• Commercial rollout in concierge practices expected to accelerate through 2027, with break-even projected at fewer than 30,000 patients.

• Q3 2026 cash outflow expected to be in line with Q2; Q4 baseline spend projected below $2.5 million per quarter.

• Full year 2026 net operating cash outflow now expected below $14.0 million, further reducing prior guidance.

• Cash runway extended into 2027, aligned with achieving key milestones.