Heartflow reported strong Q3 2025 results with significant revenue growth driven by its FFRCT business and expanding installed base. The company also saw positive developments with new payor coverage and the launch of an updated product, positioning it for future growth following a successful IPO.
Total revenue increased 41% year-over-year to $46.3 million.
positiveGross margin expanded to 76.5% from 75.7% in the prior year period, driven by increased revenue case volume and production team efficiency.
positiveLaunched next-generation Heartflow Plaque Analysis with updated algorithm, expanded nomogram and advanced visualization.
positiveUnitedHealthcare and Cigna began coverage of Heartflow Plaque Analysis on October 1, 2025.
positiveCompleted initial public offering, raising approximately $364.2 million in gross proceeds.
positiveNet loss was $50.9 million, or ($1.04) per share, significantly impacted by non-cash charges related to warrant and derivative liability remeasurement and loss on extinguishment of debt.
attentionNon-GAAP net loss was $13.2 million, indicating ongoing operational losses despite revenue growth.
negativeTotal operating expenses were $50.5 million, representing 109% of total revenue.
attentionMargin expansion indicates improving profitability and operational efficiency. Measured in basis points (bps): 100 bps = 1.0%.
| Segment | Current | Prior Yr | YoY | % Total |
|---|---|---|---|---|
International | $3800.0B | — | +24.0% | 100.0% |
| Total Revenue | $3800.0B | — | — | 100.0% |
Segment performance shows business unit health and growth drivers.
Forward-looking guidance is subject to change and does not constitute a guarantee. Actual results may differ materially from these estimates.
Special items are non-recurring events that may distort period-over-period comparisons. Analysts typically adjust for these when calculating normalized earnings.
Heartflow delivered an outstanding third quarter of 2025 with durable growth in its FFRCT business and rapid expansion of its installed base.
Physician interest continues to build in Heartflow Plaque Analysis, which increases our confidence in this second wave of growth following broad commercial payor coverage.
With continued business momentum and a strengthened balance sheet following our IPO, we believe we are well-positioned to expand our market leadership.
Commentary excerpts from earnings call transcripts provide management's perspective on performance, strategy, and outlook. Always review full transcripts for complete context.
Operational metrics provide insight into business drivers and customer engagement beyond traditional financial measures.