Heartflow Inc 2025年季度报告

UNITED STATESSECURITIES AND EXCHANGE COMMISSIONWashington, D.C. 20549_________________________ (Exact Name of Registrant as Specified in its Charter)_________________________ Securities registered pursuant to Section 12(b) of the Act: Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the SecuritiesExchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports),and (2) has been subject to such filing requirements for the past 90 days.Yeso Nox Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submittedpursuant to Rule 405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that theregistrant was required to submit such files).Yesx Noo Indicate by check markwhether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smallerreporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smallerreporting company,” and "emerging growth company" in Rule 12b-2 of the Exchange Act. If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period forcomplying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.o Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act).Yeso Nox As of August 31, 2025, the number of outstanding shares of the registrant’s common stock, par value $0.001 per share, was83,396,102. Table of Contents PagePart I: Financial Information4Item 1.Condensed Consolidated Financial Statements4Condensed Consolidated Balance Sheets4Condensed Consolidated Statements of Operations and Comprehensive Loss5Condensed Consolidated Statements of Redeemable Convertible Preferred Stockand Stockholders’ Deficit6Condensed Consolidated Statements of Cash Flows7Notes to Condensed Consolidated Financial Statements8Item 2.Management’s Discussion and Analysis of Financial Condition and Results ofOperations40Item 3.Quantitative and Qualitative Disclosures About Market Risk52Item 4.Controls and Procedures53Part II: Other Information54Item 1.Legal Proceedings54Item 1A.Risk Factors54Item 2.Unregistered Sales of Equity Securities and Use of Proceeds103Item 3.Defaults Upon Senior Securities104Item 4.Mine Safety Disclosures104 SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS This Quarterly Report on Form 10-Q contains express or implied forward-looking statements within the meaningof the Private Securities Litigation Reform Act of 1995 that involve substantial risks and uncertainties. We intendsuch forward-looking statements contained in this Quarterly Report on Form 10-Q to be covered by the safeharbor provisions for forward-looking statements contained in Section 27A of the Securities Act of 1933, asamended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other thanstatements of historical facts contained in this Quarterly Report on Form 10-Q, including statements regarding ourstrategy, future financial condition, future operations, projected costs, prospects, plans, objectives ofmanagement, and expected market growth, are forward-looking statements. In some cases, you can identifyforward-looking statements by words such as “may,” “will,” “shall,” “should,” “expects,” “plans,” “anticipates,”“could,” “intends,” “target,” “projects,” “contemplates,” “believes,” “estimates,” “predicts,” “potential,” “goal,”“objective,” “seeks,” or “continue” or the negative of these words or other similar terms or expressions thatconcern our expectations, strategy, plans, or intentions. Forward-looking statements contained in this Quarterly Report on Form 10-Q include, but are not limited to,statements regarding our future results of operations and financial positions, plans for our current and futureproducts, anticipated product launches, the impact of macroeconomic conditions, industry and business trends,and our expectations regarding business strategy, plans, market growth, regulatory climate, competitivelandscape and our objectives for future operations. You should not rely on forward-looking statements as predictions of future events. We have based the forward-looking statements contained in this Quarterly Report on Form 10-Q primarily on our current expectations,estimates, forecasts, and projections about future events and trends that we believe may affect our business,financial condition, results of operations, and prospects. Although we believe that we have a reasonable basis foreach forward-looking statement contained in this Quarterly Report on Form 10-Q, we cannot guarantee that thefuture results, levels of activity, performance, or events and circumstances reflected