Heartflow Inc. (NASDAQ:HTFL) climbed to a fresh all-time high on Friday, as investors took heart from its strong revenues in the second quarter of the year that helped boost its growth outlook for the full-year period.
In intra-day trading, the stock climbed to its highest price of $42.99 before trimming gains to end the session just up by 35.70 percent at $42.08 apiece.
In a statement, the AI technology for diagnosing coronary artery disease said that it grew its revenues by 48 percent in the second quarter of the year to $64.08 million from $43.2 million in the same period last year, on the back of strong revenue volume growth from its US Fractional Flow Reserve business, coupled with an increase in total US Plaque revenue case volume.
The company, however, widened its net loss by 70.6 percent to $15.7 million from $9.2 million, amid higher losses before provision for income taxes.
Photo from Heartflow
In the first half of the year, revenues increased by 45 percent to $116.67 million from $80.63 million, while net loss inched up by 3.6 percent to $43.1 million from $41.5 million year-on-year.
2026 Growth Outlook Raised
Heartflow Inc. (NASDAQ:HTFL) posted a highly optimistic outlook for the full-year period, with revenue growth now expected to grow by 40 to 42 percent to a range of $246 million to $250 million. It previously expected revenues to jump by 29 to 32 percent to a range of $228 million to $232 million.
“The second quarter reflects the growing strength of Heartflow’s category leadership and unique AI technology platform for identifying, diagnosing, managing, and treating coronary artery disease,” President and CEO John Farquhar said.
“The CCTA market for detecting CAD continues to grow rapidly and remains significantly under-penetrated, providing a strong backdrop for continued growth. Our FFR business remains strong and durable, while Plaque is rapidly emerging as a meaningful second growth engine—helping us win new accounts, deepen physician utilization and expand the value of the Heartflow platform for our customers. At the same time, record gross margin and improving operating leverage demonstrate the increasing scalability of our model, giving us greater confidence in long-term, profitable growth.”
More Room for Upside
Several investment companies posted a bullish stance on Heartflow Inc. (NASDAQ:HTFL), having raised their price targets and issuing positive ratings as the company noted its category leadership and the under-penetrated market, which continues to provide a strong backdrop for further growth.
Stifel issued a price target of $45, higher than the $40 prior, while maintaining a buy recommendation, thanks to the company’s second-quarter revenues, which exceeded the analyst’s $56.7 million projection and the consensus estimate of $56.6 million.
JPMorgan also raised its price target to $45 from $35 previously, while maintaining an overweight rating.
Wells Fargo, for its part, upgraded its price target to $39 from $37 previously, saying that Heartflow Inc.’s (NASDAQ:HTFL) full-year guidance may be two times larger than the beat, but still holds room for upside.
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