HeartFlow (HTFL) Cash Flow Statement

In fiscal 2025 (fiscal year ended Dec 31, 2025), HeartFlow used $54.02M of cash in operating activities and spent $5.03M on capital expenditures. That left free cash flow of −$59.05M. It repurchased $510.00K of its own shares.

HeartFlow Cash Flow Statement Analysis

Values in millions USD

Income Statement Balance Sheet Cash Flow Ratios

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Cash flow statement showing operating, investing, and financing activities for HeartFlow, Inc. (HTFL) - Annual data in millions USD
Breakdown	FY 2025	FY 2024	FY 2023
Period ending	Dec 2025	Dec 2024	Dec 2023
Operating Activities
Net Income	-116.79	-96.43	-95.66
Depreciation & Amortization	8.57	8.09	7.59
Stock Based Compensation	13.97	10.21	11.87
Change in Working Capital	-7.66	-10.88	-8.54
Change in Accounts Receivable	-4.89	-3.85	-9.35
Change in Accounts Payable	0.22	-0.33	-0.62
Change in Other Working Capital	6.44	3.63	1.43
Other Operating Activities	6.44	3.63	8.30
Net Cash from Operating Activities	-54.02	-69.00	-76.43
Investing Activities
Capital Expenditures	-5.03	-4.36	-6.11
Purchases of Investments	-233.54	0.00	0.00
Net Cash from Investing Activities	-238.57	-4.36	-6.11
Financing Activities
Debt Repayment	-115.14	0.00	0.00
Common Stock Issued	332.39	4.56	0.00
Common Stock Repurchased	-0.51	0.00	-0.23
Other Financing Activities	-7.27	-2.33	169.55
Net Cash from Financing Activities	286.04	2.24	169.32
Summary
Effect of Forex Changes on Cash	0.19	-0.27	-0.50
Net Change in Cash	-6.36	-71.39	86.28
Cash at Beginning of Period	55.84	127.23	40.96
Cash at End of Period	49.49	55.84	127.23
Free Cash Flow	-59.05	-73.36	-82.54
Supplemental Disclosures
Interest Paid	8.57	19.16	20.80
Income Taxes Paid	-	-0.07	0.41

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

Frequently Asked Questions About HeartFlow Cash Flow

What is HeartFlow's free cash flow?

HeartFlow had negative free cash flow of $59.05M in fiscal 2025 (fiscal year ended Dec 31, 2025), operating cash flow of −$54.02M minus $5.03M of capital expenditures.

How much does HeartFlow spend on capital expenditures?

HeartFlow spent $5.03M on capital expenditures in fiscal 2025, compared with $4.36M a year earlier.

Does HeartFlow pay dividends or buy back shares?

Yes. In fiscal 2025 HeartFlow returned $510.00K in share buybacks to shareholders, according to its cash flow statement.

What is free cash flow?

Free cash flow is operating cash flow minus capital expenditures. It is the cash a company has left for dividends, buybacks, debt repayment or acquisitions after funding its operations and investment. Full definition