HeartBeam, Inc.
- Open
- 0.74
- Day high
- 0.77
- Day low
- 0.73
- Prev close
- 0.75
- Volume
- 195K
- Mkt cap
- $42M
- P/E (TTM)
- —
- EPS (TTM)
- —
- P/B
- 65.7
- P/S
- —
- Yield
- —
- Per share
- —
- ▲Insiders net buying $951K over the last 3 months (9 open-market buys, 0 sales)
- ◆Cluster buying — multiple insiders bought within days
- 🏛Institutions accumulating (13F)
HeartBeam, Inc. (BEAT) is a Healthcare company listed on NASDAQ. The stock is down 39% over the past year. Over the trailing 3 months, insiders filed 9 open-market buys and 0 sales (SEC Form 4).
HeartBeam, Inc. (BEAT) financials & analyst ratings
Fundamentals (TTM)
Analyst consensus · 2 analysts
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
BEAT earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| May 13, 2026 | $-0.14 | $-0.12 | +14.3% | — | — |
| Mar 12, 2026 | $-0.14 | $-0.14 | -1.8% | — | — |
| Nov 13, 2025 | $-0.16 | $-0.15 | +6.3% | — | — |
| Aug 13, 2025 | $-0.16 | $-0.15 | +6.3% | — | — |
| Mar 13, 2025 | $-0.19 | $-0.18 | +5.3% | — | — |
| Nov 7, 2024 | $-0.17 | $-0.19 | -11.8% | — | — |
| Aug 14, 2024 | $-0.16 | $-0.19 | -18.8% | — | — |
| May 9, 2024 | $-0.15 | $-0.17 | -13.3% | — | — |
| Mar 20, 2024 | $-0.12 | $-0.13 | -8.3% | — | — |
| Nov 14, 2023 | $-0.12 | $-0.13 | -8.3% | — | — |
| Aug 10, 2023 | $-0.10 | $-0.16 | -60.0% | — | — |
| May 11, 2023 | $-0.33 | $-0.50 | -51.5% | — | — |
BEAT insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Apr 24, 2026 | Ferrari Richarddirector | Buy | 57,500 | $0.80 |
| Apr 16, 2026 | Elfrink Willemdirector | Buy | 187,500 | $0.80 |
| Apr 16, 2026 | Ferrari Richarddirector | Buy | 62,500 | $0.80 |
| Apr 16, 2026 | Vajdic Branislavdirector | Buy | 31,250 | $0.80 |
| Apr 16, 2026 | STROME MARK Edirector | Buy | 750,000 | $0.80 |
| Apr 16, 2026 | JAFF MICHAEL Rdirector | Buy | 31,250 | $0.80 |
| Apr 16, 2026 | Ortigas-Wedekind Margadirector | Buy | 25,000 | $0.80 |
| Apr 16, 2026 | ENO Robert Paulofficer: President | Buy | 12,500 | $0.80 |
| Apr 16, 2026 | Cruickshank Timofficer: CFO | Buy | 31,250 | $0.80 |
| Mar 23, 2026 | Ortigas-Wedekind Margadirector | Grant | 44,827 | $1.43 |
| Mar 23, 2026 | Cruickshank Timofficer: CFO | Grant | 53,104 | $1.45 |
| Mar 23, 2026 | de Urioste Georgedirector | Grant | 51,724 | $1.43 |
| Mar 23, 2026 | JAFF MICHAEL Rdirector | Grant | 20,689 | — |
| Mar 23, 2026 | ENO Robert Paulofficer: President | Grant | 55,172 | $1.45 |
| Mar 23, 2026 | STROME MARK E10 percent owner | Grant | 41,380 | $1.43 |
Source: BEAT SEC Form 4 filings, latest Apr 24, 2026. For informational purposes only — not investment advice.
See the full BEAT insider & 13F page →HeartBeam, Inc. company profile
Overview
HeartBeam, Inc. (NASDAQ:BEAT) is a medical technology company founded in 2015 and headquartered in Santa Clara, California. The company went public in November 2021 and focuses on developing innovative telemedicine solutions for cardiac monitoring and diagnosis outside traditional healthcare facility settings. HeartBeam has developed proprietary technology that enables the creation of a credit card-sized, cable-free electrocardiogram (ECG) device capable of synthesizing a full 12-lead ECG reading, representing a significant advancement in portable cardiac monitoring technology.
Business
HeartBeam operates in the remote cardiac monitoring and telemedicine sector, developing solutions that enable patients to perform sophisticated heart monitoring from home or other non-clinical settings. The company's core innovation is the AIMIGo system, which consists of a credit card-sized, cable-free ECG device paired with cloud-based diagnostic software. To understand HeartBeam's innovation, it's important to know that traditional ECG monitoring requires either a simple single-lead device (which provides limited diagnostic information) or a bulky 12-lead ECG machine typically found in hospitals and clinics. A 12-lead ECG captures the heart's electrical activity from 12 different angles, providing comprehensive diagnostic information that physicians need to detect various cardiac conditions including arrhythmias, heart attacks, and other cardiovascular diseases. HeartBeam's breakthrough technology uses a proprietary vector-based approach that captures the heart's electrical signals in three dimensions from a single, small device. This allows the system to synthesize a full 12-lead ECG equivalent from the compact device, eliminating the need for multiple cables and electrodes while maintaining diagnostic quality. The company has developed artificial intelligence algorithms to analyze the ECG data and provide automated detection of various cardiac conditions. The company's business focuses on a single primary segment: the development and commercialization of the AIMIGo cardiac monitoring system, which represents 100% of their business focus as they are currently in pre-commercial stage with no revenue generated from other segments.
Competitive moat
HeartBeam's competitive moat is primarily built on intellectual property and technological innovation, though this represents a moderate rather than strong moat. The company holds 17 issued patents worldwide covering their unique vector-based approach to synthesizing 12-lead ECGs from a compact, cable-free device. This proprietary technology creates a significant barrier to direct replication, as competitors would need to develop alternative approaches to achieve similar functionality. The company's first-mover advantage in the cable-free, credit card-sized 12-lead ECG space provides some protection, as they are building clinical evidence, regulatory pathways, and market relationships that competitors would need to replicate. The FDA clearance process itself creates regulatory barriers, as competitors would need to conduct their own clinical studies and navigate the 510(k) approval process. However, HeartBeam's moat faces several vulnerabilities. Large, well-established medical device companies like Medtronic, Abbott, or Philips have significantly greater resources for R&D, regulatory affairs, and market penetration. These companies could potentially develop competing technologies or acquire smaller innovators in the space. Additionally, the rapid pace of technological advancement in medical devices means that patent protection may provide only temporary advantages before new approaches emerge. The company's pre-commercial status also means their moat remains largely theoretical until proven in the marketplace. Customer adoption, clinical outcomes data, and the ability to demonstrate clear superiority over existing monitoring solutions will ultimately determine the strength of their competitive position. The telemedicine and remote monitoring space is attracting significant investment and innovation, suggesting that competition will intensify as the market develops.
Risks & safety
HeartBeam presents significant financial risks with a narrow margin of safety for investors: • Cash burn and solvency: The company burned $14.5 million in operating cash flow during 2024 with zero revenue. Current cash position of $4.4 million (Q1 2025) provides limited runway, though recent $11.5 million equity raise extends this to approximately 12-18 months at current burn rates. • Debt levels: Positive aspect - the company carries no debt, with a debt-to-equity ratio of 0.0, reducing financial leverage risk. • Valuation metrics: Current price-to-book ratio of 8.1x and negative earnings metrics reflect high speculative premium. EV/EBITDA of -2.6x indicates the company is burning cash faster than generating enterprise value. • Other considerations: Pre-revenue status means all value is based on future potential rather than demonstrated business performance. Regulatory approval risks remain with second FDA submission pending. High current ratio of 5.5x provides some short-term liquidity cushion, but this will erode quickly without revenue generation or additional funding.
Recent development
Over the past few years, HeartBeam has executed several strategic pivots and developments positioning the company for commercialization. The most significant milestone was receiving foundational FDA 510(k) clearance in December 2024 for their AIMIGo hardware system, marking the transition from pure development to regulatory-approved medical device status. The company has pursued a two-phase FDA strategy, submitting a second 510(k) application in January 2025 for their 12-lead ECG synthesis software, which represents their key technological differentiator. This strategic decision to separate hardware and software approvals allows for faster initial market entry while developing the full value proposition. HeartBeam has also made significant investments in artificial intelligence capabilities, bringing on Lance Myers as Chief AI Officer and developing algorithms that have demonstrated superior performance to expert electrophysiologists in detecting certain cardiac conditions like atrial flutter. The company formed a strategic partnership with AccurKardia to integrate arrhythmia classification algorithms, completing their end-to-end diagnostic workflow. A major strategic shift occurred with leadership changes, as Rob Eno transitioned to CEO from founder Branislav Vajdic, signaling preparation for the commercial phase. The company has also refined its go-to-market strategy, initially focusing on the direct patient pay market through concierge medicine practices rather than pursuing traditional insurance reimbursement pathways, which typically involve longer development cycles and greater regulatory complexity. The company has initiated an early access program to gather real-world feedback and prepare for full commercial launch anticipated in Q4 2025 or Q1 2026, representing the culmination of nearly a decade of development work.
BEAT company profile · for informational purposes only — not investment advice.
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