HeartFlow (HTFL) Income Statement

HeartFlow reported revenue of $176.03M in fiscal 2025 (fiscal year ended Dec 31, 2025), up 39.9% from $125.81M a year earlier. HeartFlow posted a net loss of $116.79M, compared with a net loss of $96.43M a year earlier. Gross margin was 76.8% and operating margin -36.4%. In the most recent quarter, Q2 fiscal 2026 (ended Jun 30, 2026), revenue was $64.08M, up 47.6% from the same quarter a year earlier.

HeartFlow Income Statement Analysis

Values in millions USD

Income Statement Balance Sheet Cash Flow Ratios

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HeartFlow, Inc. income statement - Annual data in millions USD
Breakdown	FY 2025	FY 2024	FY 2023
Period ending	Dec 2025	Dec 2024	Dec 2023
Revenue & Gross Profit
Revenue	176.03	125.81	87.17
Cost of Revenue	40.84	31.36	29.12
Gross Profit	135.20	94.45	58.05
Operating Expenses
Research & Development	64.92	43.52	35.85
Selling, General & Administrative	134.35	112.15	95.11
Operating Expenses	199.26	155.67	130.97
Operating Income	-64.07	-61.22	-72.91
Other Income/Expense
Interest Income	5.54	4.07	5.46
Interest Expense	15.17	-22.77	-24.69
Other Income/Expense	-52.80	-35.15	-22.19
Income
Income Before Tax	-116.87	-96.37	-95.11
Income Tax Expense	-0.08	0.05	0.55
Net Income	-116.79	-96.43	-123.69
Net Income - Continuous Operations	-116.79	-96.43	-95.66
Net Income - Discontinued Operations	-	-	-
EBITDA	-93.12	-59.56	-71.37
EBIT	-64.07	-61.22	-72.91
Depreciation & Amortization	8.57	1.66	1.54
Earnings Per Share
Basic EPS	-1.00	-18.00	-25.00
Diluted EPS	-1.00	-18.00	-25.00
Basic Shares Outstanding	85.28	5.36	4.89
Diluted Shares Outstanding	85.28	5.36	4.89

Source: Company financial statements from annual and quarterly filings. Data as of Jun 30, 2026. Data sources and methodology

Frequently Asked Questions About HeartFlow Financial Statements

What was HeartFlow's revenue in fiscal 2025?

HeartFlow reported revenue of $176.03M in fiscal 2025 (fiscal year ended Dec 31, 2025). That was up 39.9% from $125.81M a year earlier.

Is HeartFlow profitable?

No. HeartFlow reported a net loss of $116.79M in fiscal 2025. In fiscal 2024 it lost $96.43M.

What is HeartFlow's operating margin?

HeartFlow's operating income was −$64.07M on revenue of $176.03M in fiscal 2025, an operating margin of -36.4%, compared with -48.7% a year earlier.

What is net profit margin?

Net profit margin is net income divided by revenue. It shows how much of each dollar of sales a company keeps as profit after all costs, interest and taxes. Full definition