HeartBeam, Inc. (NASDAQ: BEAT)

Sector: Healthcare Industry: Health Information Services CIK: 0001779372
Market Cap 74.98 Mn
P/B 184.68
P/E -3.64
P/S 0.00
ROIC (Qtr) -905.62
Div Yield % 0.00
Rev 1y % (Qtr) 0.00
Total Debt (Qtr) 0.00
Debt/Equity (Qtr) 0.00

About

HeartBeam, Inc., a medical technology company, is dedicated to developing innovative, higher-resolution ambulatory cardiac monitoring solutions. The company's stock symbol is "HTBM" and it operates in the healthcare industry, specifically focusing on cardiac monitoring. HeartBeam's primary product, HeartBeam AIMIGo, is a compact, credit-card-sized electrocardiogram (ECG) device that captures three-dimensional (3D) vector electrocardiography (VECG) signals and synthesizes a 12-lead ECG from these signals. This device enables the detection and monitoring...

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Price action

Investment thesis

Bull case

  • Robust R&D investment of 12.98M at 1.67x of SG&A 7.79M demonstrates strong commitment to innovation and future growth.
  • Operating cash flow of (15.23M) exceeds working capital of (344000) by 44.28x, showing strong operational efficiency.
  • Strong R&D investment of 12.98M at 70.55x of capex 184000 shows balanced investment in innovation and infrastructure.
  • Cash position of 1.86M fully covers payables of 1.02M by 1.82x, showing strong vendor relationship management.

Bear case

  • Investment activities of (184000) provide weak support for R&D spending of 12.98M, which is -0.01x, suggesting potentially insufficient investment in innovation relative to other capital deployment.
  • The company's operating cash flow of (15.23M) shows concerning coverage of stock compensation expenses of 4.72M, with a -3.23 ratio indicating potential earnings quality issues.
  • Free cash flow of (15.42M) provides weak coverage of capital expenditures of 184000, with a -83.79 ratio suggesting additional external financing needs for growth initiatives.
  • Operating earnings of (20.62M) show weak coverage of depreciation charges of 30000, with a -687.33 ratio indicating high capital intensity and potential reinvestment needs.
  • Operating cash flow of (15.23M) is outpaced by equity issuance of 11.51M (-1.32 ratio), indicating concerning reliance on equity markets for funding operations.

Peer comparison

Companies in the Health Information Services
S.No. Ticker Company Market Cap P/E P/S Total Debt (Qtr)
1 TEM Tempus AI, Inc. 45.63 Bn -223.83 41.29 1.34 Bn
2 GEHC GE HealthCare Technologies Inc. 38.75 Bn 19.85 2.19 10.28 Bn
3 VEEV Veeva Systems Inc 37.30 Bn 43.36 12.11 0.09 Bn
4 DOCS Doximity, Inc. 7.81 Bn 30.87 12.57 0.01 Bn
5 BTSG BrightSpring Health Services, Inc. 7.70 Bn 59.42 0.62 2.70 Bn
6 HQY Healthequity, Inc. 7.32 Bn 38.14 5.67 1.03 Bn
7 WAY Waystar Holding Corp. 5.00 Bn 44.97 4.81 1.25 Bn
8 PRVA Privia Health Group, Inc. 2.79 Bn 153.67 1.37 0.01 Bn

Industry comparisons

Current Valuation Value Ind Avg Percentile
EV to Assets EV to Assets 24.94 2.77
EV to Cash from Ops. EV/CFO -4.71 -10.86
EV to Debt EV to Debt 0.00 161.93
EV to EBIT EV/EBIT -3.48 -106.48
EV to EBITDA EV/EBITDA -3.46 4.22
EV to Free Cash Flow [EV/FCF] EV/FCF -4.65 7.46
EV to Market Cap EV to Market Cap 0.96 -14.93
EV to Revenue EV to Revenue 0.00 1.76
Price to Book Value [P/B] P/B 184.68 10.57
Price to Earnings [P/E] P/E -3.64 147.14
Dividend Metrics Value Ind Avg Percentile
Dividend Coverage Ratio Dividend Coverage Ratio 0.00 -8.65
Dividend Payout Ratio % Div Payout % (Qtr) 0.00 5.00
Dividend per Basic Share Div per Share (Qtr) 0.00 0.04
FCF Dividend Payout Ratio % FCF Div Payout % (Qtr) 0.00 4.57
Interest Coverage Int. cover (Qtr) 0.00 -584.72
Growth Metrics Value Ind Avg Percentile
Capex Growth (1y) % Capex 1y % (Qtr) 41.21 -24.09
Cash and Equivalents Growth (1y) % Cash & Equiv 1y % (Qtr) -67.82 172.48
Dividend Growth (1y) % Dividend Growth (1y) % 0.00 -1.05
EBIAT Growth (1y) % EBIAT 1y % (Qtr) -11.94 -17.73
EBITDA Growth (1y) % EBITDA 1y % (Qtr) -8.89 39.85
EBIT Growth (1y) % EBIT 1y % (Qtr) -11.94 -38.83
EBT Growth (1y) % EBT 1y % (Qtr) -11.94 -4.52
EPS Growth (1y) % EPS 1y % (Qtr) 2.94 2.60
FCF Growth (1y) % FCF 1y % (Qtr) -14.29 -48.57
Gross Profit Growth (1y) % Gross Profit Growth (1y) % 0.00 5.49
Liquidity Ratios Value Ind Avg Percentile
Asset Utilization Ratio Asset Util Ratio (Qtr) 0.00 0.66
Cash Payout Ratio Cash Payout (Qtr) 0.00 0.03
Cash Ratio Cash Ratio (Qtr) 0.75 1.87
Current Ratio Curr Ratio (Qtr) 0.86 3.27
Debt to Equity Ratio Debt/Equity (Qtr) 0.00 -0.43
Interest Cover Ratio Int Coverage (Qtr) 0.00 -584.72
Times Interest Earned Times Interest Earned (Qtr) 0.00 -584.72
Profitability Value Ind Avg Percentile
EBITDA Margin % EBITDA Margin % 0.00 -435.80
EBIT Margin % EBIT Margin % 0.00 -464.70
EBT Margin % EBT Margin % 0.00 -461.74
Gross Margin % Gross Margin % 0.00 44.03
Net Profit Margin % Net Profit Margin % 0.00 -468.01