Heartflow Q3 net loss narrows; co lifts FY revenue guidance 

Overview

• AI cardiac diagnostics firm's Q3 revenue rose 57% yr/yr, driven by U.S. case volume growth

• Company narrowed Q3 net loss and expanded gross margin to 83.6%

• Heartflow raised 2026 revenue guidance to $262-264 mln, citing strong platform momentum

Outlook

• Heartflow raises 2026 revenue guidance to $262 mln-$264 mln from $246 mln-$250 mln

• Company lifts 2026 non-GAAP gross margin outlook to about 82.5% from about 82%

Result Drivers

• U.S. CASE VOLUME - Co said higher total U.S. FFR(CT) and Plaque Analysis case volumes drove year-over-year revenue growth

• AI EFFICIENCY - Gross margin expansion attributed to increased case volume and improved production team productivity from AI efficiency initiatives

• COMMERCIAL INVESTMENT - Higher operating expenses driven by increased investment in sales personnel, technology, and clinical research

Company press release:

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 8 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the advanced medical equipment & technology peer group is "buy"

• Wall Street's median 12-month price target for Heartflow, Inc is $55.00, about 6.9% below its November 11 closing price of $59.10

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)