HeartBeam, Inc.
Financial highlights
| Metric | FY 12/31/25 | FY 12/31/24 | FY 12/31/23 | FY 12/31/22 | FY 12/31/21 |
|---|---|---|---|---|---|
| Income Statement | |||||
| Research and development | $13.4M | $11.1M | $6.8M | $5.7M | $255,000 |
| Operating expenses | $21.1M | $19.9M | $15.3M | $13.0M | $2.3M |
| Operating income | -$21.1M | -$19.9M | -$15.3M | -$13.0M | -$2.3M |
| Interest expense | — | — | — | — | $2.2M |
| Pretax income | -$21.0M | -$19.4M | -$14.6M | -$13.0M | -$4.4M |
| Income tax expense | $0 | $0 | $0 | $0 | $0 |
| Net income | -$21.0M | -$19.4M | -$14.6M | -$13.0M | -$4.4M |
| Balance Sheet | |||||
| Cash and equivalents | $4.4M | $2.4M | $16.2M | $3.6M | $13.2M |
| Current assets | $4.7M | $2.8M | $16.8M | $4.0M | — |
| Total assets | $5.8M | $3.3M | $17.1M | $4.0M | $14.0M |
| Total liabilities | $3.2M | $1.6M | $1.2M | $1.7M | $588,000 |
| Stockholders' equity | $2.6M | $1.7M | $15.9M | $2.4M | $13.4M |
| Cash Flow Statement | |||||
| Cash from operations | -$14.0M | -$14.5M | -$12.1M | -$9.9M | -$3.2M |
| Depreciation and amortization | $40,000 | $7,000 | $0 | — | — |
| Stock-based compensation | $5.1M | $4.3M | $3.2M | $1.1M | $192,000 |
| Capital expenditure | $600,000 | $201,000 | $256,000 | $0 | — |
| Free cash flow | -$14.6M | -$14.7M | -$12.3M | -$9.9M | — |
Shares outstanding 55.5M · Free float 66.7%
Annual filing data through FY ended December 31, 2025; float as of July 15, 2026.