Heartflow Raises 2026 Guidance After Third Straight Acceleration

The Tip Desk · November 12, 2026 · 3 min read

Third-quarter revenue reached $72.9 million, up 57% year over year, and the company lifted full-year 2026 sales to $262 million to $264 million.

Heartflow, Inc. (HTFL), the AI coronary-artery-disease diagnostics company, reported third-quarter revenue of $72.9 million, a 57% increase from a year earlier, and raised full-year 2026 sales guidance for a third consecutive quarter.

The year-over-year growth rate accelerated for the third straight period, after 48% growth in the second quarter and 41% in the first. President and CEO John Farquhar said U.S. revenue grew at its fastest pace in 11 quarters.

U.S. revenue was $67.9 million, up 60% from a year earlier. International and other revenue was $4.9 million, up 29%. The company said the year-over-year increase in total global revenue was primarily attributable to higher U.S. FFRCT case volume and higher U.S. Plaque case volume.

Gross margin was 83.6%, compared with 76.5% a year earlier. Non-GAAP gross margin was 83.8%. Gross profit was $60.9 million. The company said the year-over-year margin expansion was primarily attributable to higher total revenue case volume, higher U.S. Plaque case volume, and improved production-team productivity from AI efficiency initiatives, partially offset by hiring and training of production personnel.

Farquhar said the core FFRCT business remains durable, that the installed base continues to expand, and that activations of Heartflow Plaque Analysis are ramping ahead of plan, with utilization broadening across a wider share of applicable CCTAs. He said the CCTA market continues to grow rapidly and remains significantly underpenetrated.

Total operating expenses were $74.8 million, or 103% of revenue, compared with $50.5 million, or 109% of revenue, a year earlier. Non-GAAP operating expenses were $66.1 million, or 91% of revenue. The company said the year-over-year operating-expense increase was primarily attributable to increased investment in sales personnel and related expenses, as well as increased investments in technology and clinical research.

Net operating loss was $13.8 million, compared with $15.1 million a year earlier. Non-GAAP net operating loss was $5.0 million, compared with $11.1 million. Net loss was $11.5 million, or $0.13 a share, compared with $50.9 million, or $1.04 a share, in the year-ago quarter. The prior-year net loss included a $32.1 million noncash charge from remeasurement of warrant liability, a $4.8 million noncash benefit from remeasurement of derivative liability, and a $6.4 million loss on extinguishment of debt from a term-loan prepayment in August 2025.

Non-GAAP net loss was $2.7 million, or $0.03 a share, compared with $13.2 million, or $0.27 a share, a year earlier. Adjusted EBITDA was a $3.6 million loss, compared with a $9.8 million loss a year earlier. Cash, cash equivalents and investments totaled $253.0 million as of September 30, 2026.

The company raised 2026 total-revenue guidance to $262 million to $264 million, or approximately 49% to 50% growth year over year, from $246 million to $250 million, or approximately 40% to 42% growth, given after the second quarter. Non-GAAP gross-margin guidance was raised to approximately 82.5% from approximately 82%.

Farquhar said strong performance across the diagnostic platform, along with disciplined execution of commercial, innovation and clinical initiatives, gives the company confidence to raise 2026 guidance once again. He said Heartflow has increased confidence in its path to profitability.