HeartBeam, Inc. (BEAT) Income Statement
BEAT 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsBEAT revenue and net income
BEAT profit margins
BEAT growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | — | — | — | — |
| Gross profit | — | — | — | — |
| Operating income | — | — | — | — |
| Net income | — | — | — | — |
| EPS (diluted) | — | — | — | — |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
BEAT quarterly EPS vs estimates
HeartBeam beat the analyst EPS estimate in 5 of the last 8 quarters. Next report: November 12, 2026 (estimate $-0.09).
BEAT income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $0 | $0 | $0 | $0 | $0 | $0 | $439.1M | $399.5M | $286.8M | $208.3M |
| Cost of revenue | $40,000 | $7,000 | — | — | — | — | $164.8M | $149.0M | $114.4M | $78.9M |
| Gross profit | −$40,000 | −$7,000 | — | — | — | — | $274.3M | $250.5M | $172.4M | $129.4M |
| Research & development | $13.4M | $11.1M | $6.8M | $5.7M | $255,000 | $133,000 | $41,000 | $11.2M | $11.1M | $8.4M |
| Sales, general & admin | $7.7M | $8.8M | $8.5M | $7.4M | $2.0M | $655,000 | $120.1M | $155.3M | $123.9M | $85.2M |
| Total operating expenses | $21.1M | $19.9M | $15.3M | $13.0M | $2.3M | $788,000 | $294,000 | $166.5M | $135.0M | $93.6M |
| Operating income | −$21.1M | −$19.9M | −$15.3M | −$13.0M | −$2.3M | −$788,000 | −$294,000 | $84.0M | $37.4M | $35.9M |
| Interest income | $122,000 | $446,000 | $675,000 | $66,000 | — | — | — | — | — | — |
| Interest expense | — | — | — | $66,000 | $2.2M | $280,000 | $242,000 | $9.4M | $4.9M | — |
| Income before taxes | −$21.0M | −$19.4M | −$14.6M | −$13.0M | −$4.4M | −$1.1M | −$536,000 | $41.5M | −$10.4M | $15.8M |
| Income taxes | — | — | −$15,314 | −$135,000 | $2.2M | $280,000 | $242,000 | −$370,000 | $6.7M | −$37.7M |
| Net income | −$21.0M | −$19.4M | −$14.6M | −$12.8M | −$4.4M | −$1.3M | −$778,000 | $42.8M | −$16.0M | $53.4M |
| EBITDA | −$21.0M | −$19.4M | $675,000 | −$12.9M | −$2.3M | −$788,000 | $42.7M | $92.0M | $24.2M | $30.0M |
| EPS (diluted) | −$0.62 | −$1.28 | −$0.94 | −$1.59 | −$0.84 | $1.19 | $1.95 | $1.94 | $0.87 | $0.84 |
| Gross margin | — | — | — | — | — | — | 62.5% | 62.7% | 60.1% | 62.1% |
| Operating margin | — | — | — | — | — | — | −0.1% | 21.0% | 13.0% | 17.2% |
| Net margin | — | — | — | — | — | — | −0.2% | 10.7% | −5.6% | 25.6% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Cost of revenue | — | $24,000 | −$8,000 | $8,000 | $8,000 | $7,000 | $7,000 | — | — | — | — | — |
| Gross profit | — | −$24,000 | $8,000 | −$8,000 | −$8,000 | −$7,000 | −$7,000 | — | — | — | — | — |
| Research & development | $2.3M | $2.4M | $3.4M | $3.3M | $3.3M | $3.5M | $2.9M | $2.9M | $2.8M | $2.4M | $2.0M | $1.6M |
| Sales, general & admin | $2.8M | $2.3M | $2.0M | $2.0M | $1.7M | $2.0M | $2.1M | $2.2M | $2.2M | $2.4M | $2.1M | $2.1M |
| Total operating expenses | $5.1M | $4.7M | $5.3M | $5.3M | $5.0M | $5.5M | $4.9M | $5.1M | $5.1M | $4.8M | $4.1M | $3.7M |
| Operating income | −$5.1M | −$4.7M | −$5.3M | −$5.3M | −$5.0M | −$5.5M | −$4.9M | −$5.1M | −$5.1M | −$4.8M | −$4.1M | −$3.7M |
| Interest income | $53,000 | $16,000 | $5,000 | $36,000 | $63,000 | $20,000 | $38,000 | $96,000 | $134,000 | $178,000 | $230,000 | $267,000 |
| Interest expense | — | — | — | — | — | — | — | — | — | — | $20,000 | — |
| Income before taxes | −$5.0M | −$4.7M | −$5.3M | −$5.3M | −$5.0M | −$5.5M | −$4.9M | −$5.0M | −$5.0M | −$4.6M | −$3.9M | −$3.5M |
| Income taxes | — | — | — | — | — | — | $9.9M | — | −$5.1M | −$4.8M | −$4,109 | −$3,737 |
| Net income | −$5.0M | −$4.7M | −$5.3M | −$5.3M | −$5.0M | −$5.5M | −$4.9M | −$5.0M | −$5.0M | −$4.6M | −$3.9M | −$3.5M |
| EBITDA | −$5.0M | −$4.7M | −$5.3M | −$5.2M | −$5.0M | −$5.5M | −$4.9M | −$5.0M | −$5.0M | −$4.6M | −$3.9M | −$3.5M |
| EPS (diluted) | −$0.10 | −$0.12 | −$0.14 | −$0.15 | −$0.15 | −$0.18 | −$0.73 | −$0.19 | −$0.19 | −$0.17 | −$0.15 | −$0.13 |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in BEAT's financial statements (latest annual report filed March 12, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
BEAT financial results
HeartBeam reported no revenue in fiscal year 2025 (ended December 31, 2025). It had a net loss of $21.0 million. Diluted earnings per share came to −$0.62.
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BEAT income statement FAQ
Does HeartBeam have revenue?
HeartBeam reported no revenue for fiscal year 2025, which ended on December 31, 2025.
Is HeartBeam profitable?
No. HeartBeam reported a net loss of $21.0 million in fiscal 2025.
How much does HeartBeam spend on research and development?
HeartBeam spent $13.4 million on research and development in fiscal 2025.
What are HeartBeam's earnings per share?
HeartBeam earned $-0.62 per diluted share in fiscal 2025, compared with $-1.28 a year earlier.
When will HeartBeam report its next earnings?
HeartBeam is expected to report results for the quarter ending September 30, 2026 on November 12, 2026 after the market closes.
When does HeartBeam's fiscal year end?
HeartBeam's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on March 12, 2026.