HeartBeam : First Quarter 2026 Earnings Conference Call Presentation
BEAT
Published on 05/13/2026 at 04:33 pm EDT
Total Heart Intelligence…
Wherever You Are
FIRST QUARTER 2026 FINANCIAL RESULTS CONFERENCE CALL
MAY 13, 2026
NASDAQ: BEAT
Agenda
Q1 2026 and Recent Operational Highlights
WHAT WE'LL COVER:
ON THE CALL TODAY:
HeartBeam System: Limited Commercial Launch
ROB ENO TIM CRUICKSHANK
HeartBeam's Core Technology
and Platform
BRYAN HUMBARGER
Heart Attack Detection + AI
Financials
On-Demand 12-Lead ECG Patch
First Quarter 2026 Financial Results Conference Call
Q1 2026 and Recent Operational Highlights
Consistent execution on near-term goals while advancing our long-term growth strategy
Commercial Strategy
Signed first commercial partnership with ClearCardio , a rapidly growing preventive cardiology practice. Initial rollout in 3 key markets: NY metro, Dallas, South Florida.
Signed commercial partnership with Atelier Health, a Beverly Hills-based premier concierge medical practice led by physicians affiliated with Cedars-Sinai.
Established flagship commercial sites across four target markets: NY, Dallas, South Florida, Southern California.
Initial foothold in structured direct pay healthcare segment, representing approx. 5 million U.S. patients.
Heart Attack Detection
Enrolled first patients in ALIGN-ACS pilot study for heart attack detection.
Study in emergency department. Enrolling ahead of schedule.
Milestone signifies key step toward future FDA indication expansion for heart attack assessment.
Future indication expansion would address over 20 million patients at risk of heart attack.
On-Demand 12-Lead Patch
Completed first working prototype of an extended-wear 12-lead ECG ambulatory patch, designed to aid in detecting ischemia and complex arrythmias.
Initiated pilot study of 12-Lead Patch to detect ischemia.
Targets a $2 billion market with established reimbursement; ischemia detection has potential to disrupt the patch market currently limited to atrial fibrillation detection.
AI
Program
Announced strategic collaboration with Mount Sinai to support development and validation of next-generation AI-ECG algorithms.
Combines Mount Sinai's AI and clinical expertise with HeartBeam's 3D ECG signal collection technology.
Focused on future applications including heart attack
detection and personalized cardiac assessment.
Ischemia, AI algorithm, and 12-Lead patch products not cleared by FDA and not available for sale in the United States or other geographies.
First Quarter 2026 Financial Results Conference Call 4
BRINGING CARE BEYOND THE HOSPITAL
HeartBeam is the first ever cable-free device synthesized 12-Lead ECG platform for arrhythmia assessment, delivering clinical-grade insights wherever symptoms occur.
First Quarter 2026 Financial Results Conference Call
CORE PLATFORM
FORM FACTORS
HEARTBEAM
SYSTEM
PATENTED 3D SIGNAL
COLLECTION TECHNOLOGY
ON-DEMAND 12-LEAD PATCH CONTINUOUS
CABLE-FREE 12-LEAD ECG FOR AT-HOME USE
1-LEAD → 12-LEAD ON DEMAND
APPLICATIONS ENABLED
ARRHYTHMIA HEART ATTACK DETECTION
PERSONALIZED AI ALGORITHMS
Heart attack detection, AI algorithm, and 12-Lead patch products not cleared by FDA and not available for sale in the United States or other geographies.
First Quarter 2026 Financial Results Conference Call
Clear Plan to Fuel the Next Stage of Growth
Goals remain consistent, execution of strategy underway
1ST HALF 2026
Validate premium value proposition
Refine HeartBeam systems and processes
Sign and onboard anchor accounts
Prove scaling efficiency
2ND HALF 2026
Prove deep adoption into anchor accounts
Establish funnel to support 2027 revenue and adoption goals
Develop white papers/proof
points for future adoption
Expand sales team for regional growth
2027+
Scale revenue
Move to a train-the-trainer model for implementation
Expand clinical research opportunities
Full commercial team onboard
SCALING EFFICIENTLY WITHOUT
THE NEED FOR A LARGE FIELD FORCE
HIGH-MARGIN, SUBSCRIPTION BUSINESS WITH PATH TO BREAK-EVEN
One sale to a practice
Fulfill inbound patient demand from anchor accounts
No DTC marketing spend
70%+ margins on recurring revenue
Only 3-5 month payback period to cover year 1 upfront costs
Cash flow break-even at ~30,000 patients
First Quarter 2026 Financial Results Conference Call 7
Continued Execution on a Focused Commercialization Strategy
Goals established for 1st Half 2026:
Sign and onboard anchor accounts in key, targeted markets
Execute a concentrated rollout strategy in four key geographies
Prove scaling efficiency
Status:
Added Atelier Health, premier concierge medicine practice led by physicians affiliated with Cedars-Sinai, and expanded relationship with ClearCardio
Built flagship account presence in New York, Dallas, South Florida and Southern California
Early physician engagement and flagship account traction reinforced demand for personalized 12-lead ECG capability
Worked directly with practices on rollout planning, workflow integration and implementation processes
Demonstrating ability to access large patient populations through a focused set of strategically selected practices, with a very lean commercial team
HeartBeam's
On-Demand 12-Lead ECG Patch:
Disrupting the Patch Market
TODAY'S PATCH MARKET
Patch monitors are a $2B revenue market with existing reimbursement
Devices are 1-3 leads, which limit applications to arrhythmia detection and monitoring
Mobile Cardiac Telemetry
(MCT) segment has highest
reimbursement and fastest growth
HEARTBEAM
ON-DEMAND 12-LEAD PATCH
Development of Working Prototype of Patch complete
Clinical grade 12-Lead ECG
in a patch form factor
Continuous 1-Lead mode matches performance of existing systems
On-demand 12-Lead ECG mode expands
segment into ischemia detection
Integrates into existing clinical workflow
Leverages existing MCT reimbursement
Ability to drive market share shifts and grow the market
https://www.reanin.com/reports/electrocardiograms-patch-and-holter-monitor-market https://www.gminsights.com/pressrelease/wearable-cardiac-devices-market
12-Lead patch product not cleared by FDA and not available for sale in the United States or other geographies.
First Quarter 2026 Financial Results Conference Call 9
On-Demand 12-Lead ECG Patch: Building Significant Momentum
Targeting a $2 billion market with established reimbursement, the 12-Lead ECG Patch has the potential to disrupt the long-term continuous monitor and mobile cardiac telemetry (MCT) markets.
Initiated Pilot Study of Novel On-Demand 12-Lead ECG
Patch to Detect Ischemia Outside the Clinic
Significant step in the clinical and regulatory path for the patch
First ambulatory patch device designed to aid in detecting ischemia and complex
arrhythmias
Study will enroll approximately 50 patients with a high risk of coronary artery disease whose resting ECGs show no evidence of ischemia
Results will help inform Company's broader regulatory strategy for the HeartBeam patch
Strategic Partnership Conversations Continue to Advance
Significant level of interest in a collaboration
ACC and HRS conferences provided opportunity for face-to-face meetings
Multiple Entry Points Into A Patient's Care Continuum
More frequent symptoms
Need to quantify arrhythmia
burden
Extended monitoring requested
Need for deeper
CONTINUOUS MONITORING
HeartBeam
On-Demand 12L Patch
EPISODIC
MONITORING
HeartBeam System (Card)
Patient uses card for
peace of mind
Gets MD input as symptoms occur
clinical insight • Extended monitoring with 12-lead capability
Post-procedure (MI, ablation, etc.)
Monitor Intermittent
arrhythmias over lifetime
Negative patch, symptoms or anxiety persists
High-risk patients
Long-term cardiac
management
On-demand 12-Lead Patch and Ischemia products not cleared by FDA and not available for sale in the United States or other geographies.
First Quarter 2026 Financial Results Conference Call
Heart Attack Detection
Clinical-grade heart attack detection, available wherever patients are.
Why We Win
Two proof of concept studies show HeartBeam is similar to standard 12-Lead ECG
Baseline ECG improves
accuracy over single ECG
Same device → expanded
indication (no new hardware)
Status
ALIGN-ACS Pilot study underway with patient enrollment pacing ahead of schedule
ED design accelerates timelines
(not prescribing to patients and waiting for events)
Informs pivotal study design
Problem
Patients can't recognize a
heart attack at home
12-Lead ECG is only in hospitals
3-4 hour delays = death or heart failure
De Luca G. Circulation. 2004 Mar 16;109(10):1223-5 Heidenreich PA, J Card Fail. 2022 Mar;28(3):453-466. First Quarter 2026 Financial Results Conference Call
Ischemia product not cleared by FDA and not available for sale in the United States or other geographies.
HeartBeam Vision for Heart Attack Detection
Physician augmented by deep learning algorithm with insights into STEMI and NSTEMI
W24it/h7 Claoruddio-lBoagsisetd AI Interpretation of ECG
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AI output including
STEMI/NSTEMI insights
Patient
ECG Data
ECG Interpretation and recommended action
Ischemia and AI products not cleared by FDA and not available for sale in the United States or other geographies.
First Quarter 2026 Financial Results Conference Call
Upcoming Milestones
Continued progress on commercialization and other major corporate initiatives
Q1 26 Q2 26 Q3 26 Q4 26 2027-
12-LEAD LIMITED LAUNCH
12-LEAD FDA
CLEARANCE
CCO HIRE
VALIDATE PREMIUM POSITIONING
SIGN/ONBOARD INITIAL ACCOUNTS
ESTABLISH FUNNEL FOR 2027 GOALS DEVELOP PROOF POINTS FOR ADOPTION EXPAND COMMERCIAL TEAM
SCALE REVENUE
FURTHER EXPAND TEAM
HEART ATTACK DETECTION
INITIATE ALIGN-ACS STUDY
INITIATE HEADSTART-ACS STUDY
COMPLETE ALIGN-ACS
FINALIZE FDA PIVOTAL
STUDY DESIGN
CONDUCT ALIGN-ACS II PIVOTAL STUDY
12-LEAD PATCH
COMPLETE
DEVELOPMENT OF PATCH WORKING
PARTNERSHIP DISCUSSIONS
INITIATE COMPLETE
COLLABORATE ON CLINICAL AND REGULATORY PATHWAY
PROTOTYPE
PILOT STUDY
PILOT STUDY
ARTIFICIAL
INTELLIGENCE
FINALIZE MT SINAI COLLABORATION
DEVELOP AI WELLNESS AND MI DETECTION MODELS
FDA CLEARANCE OF ARRHYTHMIA ALGORITHM
DELIVER ADDITIONAL ALGORITHMS
Heart attack detection, AI algorithm, and 12-Lead patch products not cleared by FDA and not available for sale in the United States or other geographies. First Quarter 2026 Financial Results Conference Call
Balance Sheet Strengthened with Recent Offering
Gross proceeds of $11.5 million
Closed a $10.0 million underwritten public offering of common stock on April 16, 2026
Closed the $1.5 million overallotment in May 2026
Round led by first commercial customer, ClearCardio; alongside our executive leadership, board
members, existing investors, and several fundamental institutional investors
$12.4 million proforma cash balance as of March 31, 2026 provides cash runway to advance HeartBeam into our next phase of growth
Focused on minimizing further dilution to shareholders
YEAR-OVER-YEAR QUARTERLY CHANGE QUARTER-OVER-QUARTER CHANGE
Quarter Ended March 31, Quarter Ended
$ in Thousands
2026i
2025
March 31, 2026i
Dec. 31, 2025
Cash, cash equivalents and restricted cashii
$ 2,095
$
8,150
$ 2,095
$ 4,436
Estimated net proceeds from capital raiseiii
$ 10,330
$ 10,330
Proforma Cash Balanceiii
$ 12,425
$
8,150
$ 12,425
$ 4,436
Refer to the Form 10-Q unaudited financial statements for the quarter ended March 31, 2026
Includes restricted cash of $56k in all periods.
ii. Estimated Net Proceeds from the Offering and Overallotment between April 2026 - May 2026
First Quarter 2026 Financial Results Conference Call
Continued Financial Discipline Focused on Achieving Milestones
YEAR-OVER-YEAR QUARTERLY CHANGE
Quarter Ended March 31,
QUARTER-OVER-QUARTER CHANGE
Quarter Ended
i
Net cash used in operating activities of $3.6M
in Q1 2026.
$ in Thousands
2026i
2025
March 31, 2026
Dec. 31, 2025
Operating Expenses:
Selling, general & administrative
$ 2,346
$ 2,012
$ 2,346
$ 1,956
Research & development
2,370
3,492
2,370
3,354
Total operating expenses
4,716
5,504
4,716
5,310
Loss from operations
(4,716)
(5,504)
(4,716)
(5,310)
Interest and other expense (net)
16
20
16
8
Net Loss
$ (4,700)
$ (5,484)
$ (4,700)
$ (5,302)
Earnings per Share (EPS)
$ (0.12)
$ (0.18)
$ (0.12)
$ (0.15)
Net Loss
$ (4,700)
$ (5,484)
$ (4,700)
$ (5,302)
Less non-cash items and timing differences
1,090
1,007
1,090
2,396
Net cash used in operating activitiesi
$ (3,610)
$ (4,477)
$ (3,610)
$ (2,906)
19% decrease compared to same quarter prior year.
Spend and EPS ahead of expectations.
Includes investments in commercial
launch and 12-lead Patch development.
Continued judicious timing of investments providing ability to maintain low cost profile.
Operating cash outflow expected to be below $16.0M in 2026, reduced from the $17.0M-$19.0M range previously guided to.
Cash receipts from customers in second half of year will provide further reduction to cash burn.
Refer to the Form 10-Q unaudited financial statements for the quarter ended March 31, 2026
Net cash used in operating activities is calculated as Net loss, less non-cash items such as stock-based compensation and timing differences.
First Quarter 2026 Financial Results Conference Call
Summary
Executing on a $40B Cardiac Monitoring Platform Opportunity
Significantly de-risked technology
First ever FDA-cleared, cable-free synthesized 12-Lead ECG for arrhythmia assessment
Strong IP and clinical evidence
Balance sheet strengthened with April 2026 Offering
Capital-efficient strategy; judicious timing of investments
Multiple value creation opportunities in 2026:
Limited Commercial Launch Heart Attack Detection
Built flagship account presence in New York, Dallas, South Florida and Southern California
Cost-effective expansion strategy does not require large sales force
Rapidly advancing clinical validation to support indication expansion into acute ischemia/heart attack detection
ALIGN-ACS pilot study enrolling ahead of schedule
On-Demand 12-Lead Patch AI Algorithms
Best in class product in $2B revenue
market with existing reimbursement
Initiated Pilot Study; exploring strategic partnerships to speed adoption
Developing next generation algorithms,
including wellness and MI detection
Partnering with Mt Sinai to bring 12-Lead screening and predictive
algorithms to the HeartBeam System
FDA-cleared for arrhythmia assessment only. Heart attack detection, AI algorithm, and 12L patch products
not cleared by FDA and not available for sale in the United States or other geographies.
First Quarter 2026 Financial Results Conference Call 17
Q&A
Company
Tim Cruickshank CFO
HeartBeam, Inc.
Investor Relations
Chris Tyson
Executive Vice President MZ North America Direct: 949-491-8235
[email protected] https://www.mzgroup.us
2118 Walsh Avenue, Suite 210 Santa Clara, CA 95050
MKT-147 v0
First Quarter 2026 Financial Results Conference Call
Disclaimer
Heartbeam Inc. published this content on May 13, 2026, and is solely responsible for the information contained herein. Distributed via Public Technologies (PUBT), unedited and unaltered, on May 13, 2026 at 20:29 UTC.