HTFL — what changed in the latest 10-Q

Text added vs the prior filing · source: 10-Q · 2026-05-14

• You should read the following discussion and analysis of our financial condition and results of operations in conjunction with our condensed consolidated financial statements and the related notes and other financial information included elsewhere in this Quarterly Report on Form 10-Q and our audite…

• We provide software and artificial intelligence (“AI”) designed to deliver a more accurate and clinically effective non-invasive solution for diagnosing and managing coronary artery disease (“CAD”), a leading cause of death worldwide. As of March 31, 2026, our Heartflow Platform has been used to ass…

• To date, we have developed four software products under the Heartflow Platform that provide physicians with the critical insights needed to effectively diagnose and manage CAD:

• •Heartflow RoadMap Analysis offers a highly intuitive anatomic visualization of the coronary arteries, helping physicians quickly identify clinically relevant areas to focus their review. We provide Heartflow RoadMap Analysis to accounts as an integrated feature to enhance the efficiency of their CC…

• •Heartflow FFRCT Analysis calculates blood flow and pinpoints clinically significant CAD, which is CAD with a fractional flow reserve (“FFR”) value of 0.80 or below, at every point in the major coronary arteries. FFR measures the severity of blood flow restriction in the coronary arteries on a scale…

Text removed vs the prior filing · source: 10-Q · 2025-11-12

• You should read the following discussion and analysis of our financial condition and results of operations

• in conjunction with our condensed consolidated financial statements and the related notes and other

• financial information included elsewhere in this Quarterly Report on Form 10-Q and our audited

• consolidated financial statements and the related notes and the discussion under the heading

• “Management’s Discussion and Analysis of Financial Condition and Results of Operations” for the year

Text added vs the prior filing · source: 10-Q · 2026-05-14

• We are exposed to market risks in the ordinary course of our business. These risks primarily include risk related to interest rate sensitivities, credit risk, foreign currency exchange rate sensitivity and inflation risk.

• As of March 31, 2026, we had cash, cash equivalents and investments of $254.9 million, which consisted of bank deposits, money market funds, U.S. government securities, U.S. treasury bills, commercial paper, corporate bonds/notes, asset-backed securities and agency bonds/notes.

• The primary objectives of our investment activities are the preservation of capital and support of our liquidity requirements. We place our cash, cash equivalents, and investments with high-quality financial institutions and have established investment guidelines relative to diversification and matu…

• We do not enter into investments for trading or speculative purposes and have not used any derivative financial instruments to manage our interest rate risk exposure. A hypothetical 10% change in interest rates would not have a material impact on the value of our cash and cash equivalents or our inv…

• Our cash and cash equivalents, which at times may exceed federally insured limits, are maintained with large financial institutions. As of the issuance date of the financial statements included in this report, we have not experienced any losses on our deposits and all of our cash deposits have been …

Text removed vs the prior filing · source: 10-Q · 2025-11-12

• We are exposed to market risks in the ordinary course of our business. These risks primarily include risk

• related to interest rate sensitivities, credit risk, foreign currency exchange rate sensitivity and inflation risk.

• As of September 30, 2025, we had cash and cash equivalents of $291.2 million. Our cash and cash

• equivalents are held for working capital purposes. We do not enter into investments for trading or

• speculative purposes. Due to the short-term nature of our cash equivalents, we have not been exposed

Text added vs the prior filing · source: 10-Q · 2026-05-14

• Our management, with the participation of our Chief Executive Officer and our Chief Financial Officer, has evaluated the effectiveness of our disclosure controls and procedures (as defined in Rules 13a-15(e) and 15d-15(e) under the Securities Exchange Act of 1934, as amended) as of the end of the pe…

• Due to a transition period established by SEC rules applicable to newly public companies, our management is not required to evaluate the effectiveness of our internal control over financial reporting until the filing of our Annual Report on Form 10-K for the year ended December 31, 2026. As a result…

• In designing and evaluating the disclosure controls and procedures, our management recognizes that any controls and procedures, no matter how well designed and operated, can provide only reasonable assurance of achieving the desired control objectives. In addition, the design of disclosure controls …

Text removed vs the prior filing · source: 10-Q · 2025-11-12

• Our management, with the participation of our Chief Executive Officer and our Chief Financial Officer,

• have evaluated the effectiveness of our disclosure controls and procedures (as defined in Rules

• 13a-15(e) and 15d-15(e) under the Securities Exchange Act of 1934, as amended) as of the end of the

• period covered by this Quarterly Report on Form 10-Q. Based on that evaluation, our Chief Executive

• Officer and our Chief Financial Officer have concluded that, as of September 30, 2025, our disclosure

Text added vs the prior filing · source: 10-Q · 2026-05-14

• In October 2025, we and certain of our employees received civil investigative demands (the “CID”) from the U.S. Department of Justice, Civil Division, in connection with an investigation under the federal Anti-Kickback Statute and Civil False Claims Act (the “Investigation”). The CID requests inform…

• On April 13, 2026, we filed a patent infringement lawsuit against Cleerly, Inc. in the United States District Court for the Eastern District of Texas. The complaint seeks permanent injunctive relief and damages arising from Cleerly’s unauthorized and continued use of Heartflow’s patented technology.…

• In addition, we have become, and we may become in the future, involved in various legal proceedings arising from the normal course of business activities. We are not presently a party to any litigation for which the outcome, based on our reasonable belief, if determined adversely to us, would indivi…

Text removed vs the prior filing · source: 10-Q · 2025-11-12

• In October 2025, we and certain of our employees received civil investigative demands (the “CID”) from

• the U.S. Department of Justice, Civil Division, in connection with an investigation under the federal Anti-

• Kickback Statute and Civil False Claims Act (the “Investigation”). The CID requests information,

• documents, and testimony focused on our financial and contractual arrangements with providers and our

• sales and marketing activities. We are cooperating with the Investigation. We are unable to express a

Text added vs the prior filing · source: 10-Q · 2026-05-14

• During the quarter ended March 31, 2026, none of our directors or officers (as defined in Rule 16a-1(f) under the Securities Exchange Act of 1934, as amended) adopted, modified or terminated a “Rule 10b5-1 (c) trading arrangement” or a “non-Rule 10b5-1 trading arrangement”, as each term is defined i…

Text removed vs the prior filing · source: 10-Q · 2025-11-12

• During the quarter ended September 30, 2025, three of our directors or officers (as defined in Rule

• 16a-1(f) under the Securities Exchange Act of 1934, as amended) adopted, modified or terminated a

• “Rule 10b5-1 (c) trading arrangement” or a “non-Rule 10b5-1 trading arrangement”, as each term is

• On September 12, 2025, John C.M. Farquhar, our President and Chief Executive Officer, adopted a Rule

• 10b5-1 trading arrangement providing for the sale from time to time of an aggregate of up to 427,900