Heartbeam Inc. Common Stock (BEAT)

FairStock Score: 14/100 — RISKY

Key Financials

AI Analysis

AI-generated, general educational analysis — not personal investment advice.

I look for durable competitive advantages, honest accounting, and a margin of safety. HeartBeam is a 16-employee medical technology firm developing a cable-free, ambulatory 12-lead ECG system. The idea may have promise, but as an investment it is still a story, not a proven business. Filed figures show no revenue was reported in the periods listed, from fiscal 2023 through fiscal Q2 2026, the quarter ended 2026-06-30. Net losses were $14.6 million in fiscal 2023, $19.4 million in fiscal 2024, and $21.0 million in fiscal 2025. In fiscal Q2 2026, the quarter ended 2026-06-30, it lost $5.0 million, or $0.10 per diluted share; in fiscal Q2 2025, the quarter ended 2025-06-30, it also lost $5.0 million. Trailing free cash flow is negative $14.0 million, a negative 61.9% yield on the $22.7 million market cap. The Piotroski F-Score is 1/9 and the Altman Z-Score is -5.19, both signaling financial fragility. FairStock's score is 14/100. At $0.40 on 2026-10-13, the P/B is 2.87 and the P/E is negative, so there is no earnings-based valuation. The 52-week range of $0.35-$4.00 shows how far sentiment has fallen. A negative beta of -0.77 may appeal to some as a diversifier, but it is not a moat. Growth is unproven: revenue growth is N/A and profit growth is -1.31%. Until there is commercial revenue, reimbursement, and a path to positive cash flow, this remains speculative. Graham would demand a large discount to liquidation value; Buffett would demand a durable franchise. I see neither yet.

In plain English: HeartBeam is a small medical technology company trying to develop a cable-free heart-monitoring device. It has no reported revenue and has lost money every year, including $21.0 million in fiscal 2025 and $5.0 million in fiscal Q2 2026, the quarter ended 2026-06-30. At $0.40 a share, the stock is near its 52-week low, but because the company has no reported revenue or profits, the price looks speculative rather than clearly cheap or expensive based on its numbers.

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Data as of 2026-10-13 close · note generated 2026-10-15 · model deepseek-flash

Sources (SEC EDGAR): fiscal Q2 2026 10-Q (period ended 2026-06-30) · fiscal Q1 2026 10-Q (period ended 2026-03-31) · fiscal Q3 2025 10-Q (period ended 2025-09-30) · fiscal Q2 2025 10-Q (period ended 2025-06-30) · FY2025 10-K (period ended 2025-12-31) · FY2024 10-K (period ended 2024-12-31) · FY2023 10-K (period ended 2023-12-31)

Fundamentals from company filings and market-data providers; prices are end-of-day, not real-time. AI-generated analysis is general and educational — not personal investment advice. Scoring methodology · Score test · Disclaimer