Q2 2026 Heartflow Inc Earnings Call Transcript
Key Points
- Revenue grew 48% year-over-year to $64.1 million, with US revenue up 51%, marking the fastest growth in eight quarters.
- Plaque revenue exceeded expectations at $7.8 million, with activations and utilization ahead of plan, supporting a raised full-year outlook.
- Gross margin expanded to 83.3%, up 770 basis points year-over-year, driven by AI efficiencies, volume leverage, and higher-margin Plaque mix.
- Launched Heartflow Plaque Staging, a clinically validated tool for risk stratification, expected to drive further adoption.
- Selected as exclusive Plaque provider for the NIH-funded PRE-EMPT study, highlighting clinical confidence in the technology.
- Non-GAAP operating loss of $7.9 million and net loss of $5.8 million persist, though improved year-over-year.
- FFRCT ASPs face pressure, with year-over-year declines expected to moderate only by 2027.
- Plaque adoption remains early, with utilization still far from the 60% applicability target.
- Ongoing IP litigation and CID investigation create potential legal and financial uncertainties.
- Full-year guidance implies only modest sequential revenue growth in H2, reflecting conservative assumptions and seasonality.
Good day and thank you for standing by. Welcome to the Heartflow Inc second quarter 2026 earnings call. (Operator Instructions) Please be advised today's conference is being recorded.
I would like to hand the conference over to your speaker today, Nick Ledeko, please go ahead.
Good afternoon, everyone, and welcome to the Heartflow second quarter 2026 earnings conference call. Joining me today are John Farquhar, Heartflow's President and Chief Executive Officer; and Vikram Verghese, our Chief Financial Officer. Today, we will walk you through our Q2 performance, share updates on our commercial momentum, innovation pipeline and clinical programs, and provide financial guidance. A live Q&A session will follow.
The earnings release accompanying today's discussion is available on our investor relations website at ir.heartflow.com. During this call, we will refer to certain non-GAAP financial measures. Reconciliations to the most comparable GAAP figures can be found in today's
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