Q4 2024 Heartbeam Inc Earnings Call Transcript

Mar 13, 2025 / 08:30 PM GMT

Transcript 10-K

Key Points

Positve

HeartBeam Inc (BEAT) received foundational FDA clearance for its heartbeam system, marking a significant milestone for the company.
The company submitted a second 510(k) application for its 12-lead synthesis software, which is under FDA review.
HeartBeam Inc (BEAT) successfully completed a public offering, raising $11.5 million to support upcoming milestones.
The company has initiated an early access program to refine clinical workflows and prepare for pilot commercialization.
HeartBeam Inc (BEAT) has a clear go-to-market strategy targeting a multi-billion dollar direct patient pay market.

Negative

The company experienced a 20% increase in net cash used in operating activities in FY24, primarily due to R&D investments.
HeartBeam Inc (BEAT) is not immediately commercializing its product despite receiving FDA clearance, awaiting further software clearance.
The timing of FDA reviews and clearances remains uncertain, posing potential delays in commercialization.
The company faces competition from other ambulatory ECG devices, although it claims its technology is unique.
HeartBeam Inc (BEAT) must manage cash burn carefully to align with milestone achievements and minimize dilution.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

BEAT.OQ - Heartbeam Inc
Q4 2024 Heartbeam Inc Earnings Call
Mar 13, 2025 / 08:30PM GMT

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Presentation
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Unidentified_1 [1]
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Yeah.

Greetings and welcome to the Hearing fourth quarter and full year 2024 financial results conference call.

At this time, all participants are only mode.

A question and answer session will follow the formal presentation.

As a reminder, this conference call is being recorded.

Before we begin the formal presentation, I'd like to remind everyone that statements made on this call and webcast may include predictions, estimates, or other information that might be considered forward-looking. While these forward-looking statements represent our current judgment on what the future holds, they are subject to risk and uncertainties that could cause actual results to differ materially. You are cautioned not

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