Heartflow, Inc.
For the period ended Mar 31, 2026. Filed May 14, 2026.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2026 · Filed May 14, 2026
HTFL$55.80-1.5%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Condensed Consolidated Statements of Cash Flows
Flows
(in thousands)
| Three Months Ended | ||
|---|---|---|
| March 31, | ||
| 2026 | 2025 | |
| Cash flows from operating activities: | ||
| Net loss | $(27,380) | $(32,345) |
| Adjustments to reconcile net loss to net cash used in operating activities: | ||
| Depreciation and amortization | 1,423 | 1,372 |
| Stock-based compensation expense | 6,554 | 2,492 |
| Asset impairment charge | 7,482 | — |
| Amortization of debt discount and debt issuance costs | — | 998 |
| Amortization of right-of-use asset | 1,011 | 724 |
| Accretion of discounts on investments, net | (836) | — |
| Change in fair value of common stock warrant liability | — | 1,606 |
| Change in fair value of derivative liability | — | 9,045 |
| Non-cash interest charges | — | 545 |
| Change in allowance for credit losses | — | (72) |
| Changes in assets and liabilities: | ||
| Accounts receivable | (6,184) | (3,601) |
| Prepaid expenses and other current assets | (3,912) | (409) |
| Other non-current assets | (1,576) | (341) |
| Accounts payable | 1,669 | (1,627) |
| Accrued expenses and other current liabilities | (7,393) | 9,301 |
| Operating lease liabilities | (981) | (888) |
| Other non-current liabilities | 19 | 34 |
| Net cash used in operating activities | (30,104) | (13,166) |
| Cash flows from investing activities: | ||
| Purchase of property and equipment | (1,889) | (1,101) |
| Purchase of investments | (29,538) | — |
| Maturities of investments | 30,000 | — |
| Net cash used in investing activities | (1,427) | (1,101) |
| Cash flows from financing activities: | ||
| Proceeds from convertible notes offering, net of issuance costs | — | 73,860 |
| Proceeds from exercise of stock options | 3,342 | 578 |
| Issuance of common stock under employee stock purchase plan | 3,288 | — |
| Payments of exit, prepayment penalty and lender fees | — | (518) |
| Payment of taxes related to vested restricted stock units | (473) | — |
| Payment of deferred offering costs | — | (998) |
| Net cash provided by financing activities | 6,157 | 72,922 |
| Effect of foreign exchange rates | 262 | (236) |
| Net increase (decrease) in cash and cash equivalents | (25,112) | 58,419 |
| Balance, beginning of period | 49,485 | 55,842 |
| Balance, end of period | $24,373 | $114,261 |
| Supplemental disclosure of cash flow information: | ||
| Cash paid for interest | $— | $3,439 |
| Supplemental disclosure of non-cash investing and financing activities: | ||
| Purchases of property and equipment included in accounts payable | $912 | $6 |
| Right-of-use asset obtained in exchange for lease obligation | $5,276 | $561 |
| Conversion of term loan principal to convertible notes | $— | $23,000 |
| Issuance of convertible notes to certain employees in lieu of cash compensation | $— | $1,353 |
| Reclassification of term loan debt discount to convertible notes debt discount | $— | $239 |
| Unpaid deferred offering costs included in accounts payable and accrued expenses and other current liabilities | $— | $2,325 |
| Unpaid convertible notes issuance costs included in accounts payable and accrued expenses and other current liabilities | $— | $1,114 |
- Business Over
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