B
HeartBeam, Inc.
BEATWCIK 0001779372NasdaqNon-AcceleratedSmaller ReportingSurgical & Medical Instruments & ApparatusDelawareFY ends Dec 31
Period
FY 2025
Revenue
—
Net Income
$-21.02M
Total Assets
$5.84M
Equity
$2.60M
Shares Out
41.09M
Op. Cash Flow
$-13.99M
Business
HeartBeam, Inc. is a medical technology company developing personalized, high-resolution ambulatory cardiac monitoring solutions that capture three-directional cardiac signals and synthesize 12-lead ECGs for clinician review. Its main products include the HeartBeam System — a credit card-sized, cable-free ECG device — plus a patient application, physician portal, cloud-based algorithms and AI-based arrhythmia and ischemia detection tools and monitoring services. Key business elements encompass device hardware, 12-lead synthesis software, physician-facing portals, AI development, and an ECG monitoring/reading service. The company is initially targeting the U.S. market through direct sales to concierge practices, cardiology clinics, hospitals and payors, with clinical studies, early access programs and potential licensing or international expansion.
Summary from filing dated 2025-03-13
Financials
Consolidated Statement of Income
Year Ended · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| General and administrative | 8 | 9 | 9 | 7 | 2 | |
| Research and development | 13 | 11 | 7 | 6 | 255,000 | |
| Total operating expenses | 21 | 20 | 15 | 13 | 2 | |
| Loss from operations | −21 | −20 | −15 | −13 | −2 | |
| Interest income | 122,000 | 446,000 | 675,000 | 66,000 | −2 | |
| Other income and expense (net) | 2,000 | −7,000 | 0 | 3,000 | 22,000 | |
| Total other income | 124,000 | 439,000 | 675,000 | 69,000 | −2 | |
| Loss before provision for income taxes | −21 | −19 | −15 | −13 | −4 | |
| Income tax provision | 0 | 0 | 0 | 0 | 0 | |
| Net Loss | −21 | −19 | −15 | −13 | −4 | |
| Net loss per share, basic (in dollars per share) | −0.62 | −0.73 | −0.72 | −1.59 | −1.03 | |
| Net loss per share, diluted (in dollars per share) | −0.62 | −0.73 | −0.72 | −1.59 | −1.03 | |
| Weighted average common shares outstanding, basic (in shares) | 34 | 27 | 20 | 8 | 4 | |
| Weighted average common shares outstanding, diluted (in shares) | 34 | 27 | 20 | 8 | 4 |
Consolidated Balance Sheet
As of · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Cash and cash equivalents | 4 | 2 | 16 | 4 | 13 | |
| Prepaid expenses and other current assets | 202,000 | 393,000 | 636,000 | 445,000 | 806,000 | |
| Inventory | 103,000 | 0 | — | — | — | |
| Total Current Assets | 5 | 3 | 17 | 4 | — | |
| Property and equipment, net | 1 | 450,000 | 256,000 | 0 | — | |
| Other assets | 56,000 | 56,000 | 50,000 | 0 | — | |
| Total Assets | 6 | 3 | 17 | 4 | 14 | |
| Accounts payable (includes related party $5 and $5, respectively) | 1 | 531,000 | 556,000 | — | — | |
| Accrued expenses | 2 | 1 | 638,000 | — | — | |
| Total Liabilities | 3 | 2 | 1 | 2 | 588,000 | |
| Commitments (Note 7) | — | — | — | — | — | |
| Preferred Stock - $0.0001 par value; 10,000,000 shares authorized; 0 shares outstanding at December 31, 2025 and 2024 | 0 | 0 | 0 | 0 | 0 | |
| Common stock - $0.0001 par value; 100,000,000 shares authorized; 40,117,404 and 26,960,901 shares issued and outstanding at December 31, 2025 and 2024 | 4,000 | 3,000 | 3,000 | 1,000 | 1,000 | |
| Additional paid in capital | 80 | 58 | 53 | 25 | 23 | |
| Accumulated deficit | −77 | −56 | −37 | −22 | −9 | |
| Total Stockholders Equity | 3 | 2 | 16 | 2 | 13 | |
| Total Liabilities and Stockholders Equity | 6 | 3 | 17 | 4 | 14 |
Consolidated Statement of Cash Flows
Year Ended · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Depreciation | 40,000 | 7,000 | 0 | — | — | |
| Stock-based compensation expense | 5 | 4 | 3 | 1 | 192,000 | |
| Stock issuance for services | 226,000 | 0 | — | — | — | |
| Prepaid expenses and other current assets | 191,000 | 243,000 | −191,000 | 361,000 | −779,000 | |
| Inventory | −103,000 | 0 | — | — | — | |
| Accounts payable and accrued expenses | 2 | 428,000 | −471,000 | 2 | −357,000 | |
| Net cash used in operating activities | −14 | −14 | −12 | −10 | −3 | |
| Purchase of property and equipment | −600,000 | −201,000 | −256,000 | 0 | — | |
| Purchase of short-term investments | 4 | 0 | — | — | — | |
| Maturities of short-term investments | −4 | 0 | — | — | — | |
| Net cash used in investing activities | −600,000 | −201,000 | −256,000 | 0 | — | |
| Proceeds from exercise of stock options | 13,000 | 136,000 | 200,000 | 2,000 | 0 | |
| Net cash provided by financing activities | 17 | 866,000 | 25 | 350,000 | 16 | |
| Net increase (decrease) in cash and restricted cash | 2 | −14 | 13 | −10 | 13 | |
| Purchase of property and equipment in accounts payable | 92,000 | 0 | — | — | — | |
| Taxes paid | 0 | 0 | 0 | 0 | 0 |
Filings
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