HeartBeam | 10-Q: FY2025 Q3 Revenue: USD 0

Revenue: As of FY2025 Q3, the actual value is USD 0.

EPS: As of FY2025 Q3, the actual value is USD -0.15, beating the estimate of USD -0.155.

EBIT: As of FY2025 Q3, the actual value is USD -5.326 M.

Financial Metrics by Segment

General and Administrative Expenses

• Three months ended September 30, 2025: $2,012 thousand
• Three months ended September 30, 2024: $2,176 thousand
• Change: -$164 thousand (-8%)
• Nine months ended September 30, 2025: $5,733 thousand
• Nine months ended September 30, 2024: $6,778 thousand
• Change: -$1,045 thousand (-15%)

Research and Development Expenses

• Three months ended September 30, 2025: $3,278 thousand
• Three months ended September 30, 2024: $2,893 thousand
• Change: $385 thousand (13%)
• Nine months ended September 30, 2025: $10,096 thousand
• Nine months ended September 30, 2024: $8,165 thousand
• Change: $1,931 thousand (24%)

Total Operating Expenses

• Three months ended September 30, 2025: $5,290 thousand
• Three months ended September 30, 2024: $5,069 thousand
• Change: $221 thousand (4%)
• Nine months ended September 30, 2025: $15,829 thousand
• Nine months ended September 30, 2024: $14,943 thousand
• Change: $886 thousand (6%)

Loss from Operations

• Three months ended September 30, 2025: -$5,290 thousand
• Three months ended September 30, 2024: -$5,069 thousand
• Change: -$221 thousand (4%)
• Nine months ended September 30, 2025: -$15,829 thousand
• Nine months ended September 30, 2024: -$14,943 thousand
• Change: -$886 thousand (6%)

Interest Income

• Three months ended September 30, 2025: $36 thousand
• Three months ended September 30, 2024: $96 thousand
• Change: -$60 thousand (-63%)
• Nine months ended September 30, 2025: $117 thousand
• Nine months ended September 30, 2024: $408 thousand
• Change: -$291 thousand (-71%)

Other Expense

• Three months ended September 30, 2025: -$1 thousand
• Three months ended September 30, 2024: -$6 thousand
• Change: $5 thousand (-83%)
• Nine months ended September 30, 2025: -$1 thousand
• Nine months ended September 30, 2024: -$6 thousand
• Change: $5 thousand (-83%)

Net Loss

• Three months ended September 30, 2025: -$5,255 thousand
• Three months ended September 30, 2024: -$4,979 thousand
• Change: -$276 thousand (6%)
• Nine months ended September 30, 2025: -$15,713 thousand
• Nine months ended September 30, 2024: -$14,541 thousand
• Change: -$1,172 thousand (8%)

Cash Flow

• Net cash used in operating activities: -$11,082 thousand for the nine months ended September 30, 2025, compared to -$10,319 thousand for the nine months ended September 30, 2024.
• Net cash used in investing activities: -$184 thousand for the nine months ended September 30, 2025, compared to -$201 thousand for the nine months ended September 30, 2024.
• Net cash provided by financing activities: $10,745 thousand for the nine months ended September 30, 2025, compared to $105 thousand for the nine months ended September 30, 2024.

Future Outlook and Strategy

• Core Business Focus: HeartBeam, Inc. is focused on commercial readiness activities in advance of an anticipated commercial launch once FDA clearance for their 12L synthesis software is received. The company is also engaged in an early access program to gather feedback and prepare for commercialization.
• Non-Core Business: The company has an active AI program and has acquired over six million standard 12L ECGs to develop deep learning algorithms, which are expected to enhance future product offerings and support future FDA submissions.
• Strategic Collaborations: HeartBeam announced a strategic collaboration with AccurKardia to integrate their FDA-cleared automated ECG interpretation platform, enhancing HeartBeam’s commercial offering for arrhythmia assessment.