Heartflow (HTFL) Q1 2026 earnings summary

Executive summary

• Q1 2026 revenue reached $52.6 million, up 41% year-over-year, driven by 67% global case growth, strong U.S. FFRCT volume, and expanding Plaque Analysis adoption.

• Gross margin expanded to 80.2% from 75.1% year-over-year, reflecting higher case volume, AI-driven productivity gains, and improved production efficiency.

• Net loss for Q1 2026 was $27.4 million, including a $7.5 million non-cash impairment charge from headquarters relocation.

• Cash, cash equivalents, and investments totaled $254.9 million as of March 31, 2026.

• The AI-powered platform now includes RoadMap, Plaque, FFRCT, and PCI Navigator, supporting deeper clinical integration and adoption.

Financial highlights

• Total Q1 revenue was $52.6 million, up 41% year-over-year; U.S. revenue grew 42% to $48.3 million, international revenue reached up to $4.3 million.

• Global revenue cases reached 67,443, up 67% year-over-year.

• Q1 non-GAAP gross margin improved to 80.5% from 75.3% a year ago.

• Non-GAAP operating loss was $15.5 million; non-GAAP net loss was $13.3 million ($0.16/share).

• Adjusted EBITDA was $(14.0) million.

Outlook and guidance

• Full-year 2026 revenue guidance raised to $228–$232 million, representing 29–32% growth.

• Plaque-specific revenue outlook increased to $19–$21 million.

• Full-year non-GAAP gross margin guidance raised to ~81%.

• Midterm non-GAAP gross margin target remains at 85%.

• Cash flow profitability expected within three years of IPO.