Heartflow

About Heartflow

Financials

Dated, source-cited figures. Estimates are marked.

Products by Heartflow

All products by Heartflow reviewed by our AI panel of experts.

HeartFlowAI Healthcare

AI analysis of coronary CT scans for personalized heart disease management

Free7.6/10

How Our Review Panel Scores Heartflow

Six independent reviewer personalities assessed Heartflow's product on their own terms. They disagreed by 2.6 points — The Finance Lead was the hardest to convince, The Domain Strategist the most positive.

Averaged across 1 reviewed product in our catalog. Scores are out of 10.

Competitive Landscape

Who Heartflow competes with, and how they differ.

C

Cleerly

The closest direct rival: Cleerly sells an AI-enabled CCTA read (Cleerly Plaque Analysis, Cleerly ISCHEMIA, Cleerly COMPARE) and markets ISCHEMIA head-to-head against FFR-CT using CREDENCE and PACIFIC trial data. Heartflow's own 10-K names Cleerly first among AI-CCTA competitors; Cleerly is still venture-backed (a $106M round from Insight Partners in December 2024), while Heartflow is Nasdaq-listed with $176.0M of 2025 revenue.

Aidoc7.8/10

Aidoc sells a broad enterprise clinical-AI platform (aiOS) carrying the largest portfolio of FDA-cleared triage algorithms across radiology, neurovascular, vascular and cardiology, including a coronary artery disease solution. It competes for the same hospital imaging-AI budget but monetises platform-wide deployment and incidental-finding capture, not Heartflow's single CPT-reimbursed, pay-per-click diagnostic test.

1 product reviewed on TopReviewed

Nanox

Nanox.AI (the former Zebra Medical, acquired November 2021) runs HealthCCSng, an FDA-cleared cardiac tool that mines routine chest and abdomen CT scans to flag patients at high risk of coronary artery disease. That is opportunistic population screening on scans already taken, whereas Heartflow analyses a dedicated coronary CT angiogram to return an FFR-CT and plaque report; Nanox also sells imaging hardware, which Heartflow does not.

Viz.ai8.0/10

Viz.ai is an AI care-coordination platform layered on hospital imaging, with a Cardio Suite covering hypertrophic cardiomyopathy, acute coronary syndrome and cardiac amyloidosis alongside its neuro and vascular suites. It overlaps with Heartflow on the cardiology AI budget and CT ingest, but sells acute detection and care-team activation rather than a reimbursed CCTA-derived diagnostic analysis.

1 product reviewed on TopReviewed

Company Timeline

Key milestones in Heartflow's history, with sources.

1. January 2026Milestone

   Category I CPT code takes effect for Heartflow Plaque Analysis

   Category I CPT code 75577 for Heartflow Plaque Analysis took effect in January 2026, and by that month all seven Medicare Administrative Contractors covered the analysis; commercial payers including Aetna, Cigna and UnitedHealthcare began coverage from October 2025. Heartflow FFR-CT Analysis has had its own Category I code, 75580, since January 1, 2024.

   sec.gov
2. Aug 11, 2025Milestone

   Nasdaq IPO closes -- $364M gross at $19.00 per share

   Heartflow priced an upsized IPO at $19.00 per share on August 7, 2025 and closed on August 11, 2025, selling 19,166,667 shares including the full 2,500,000-share underwriters option for roughly $364 million gross and about $333.0 million net. Shares trade on the Nasdaq Global Select Market as HTFL; J.P. Morgan, Morgan Stanley, Piper Sandler, Stifel and Canaccord Genuity ran the books. The Hayfin credit facility was repaid in full on August 22, 2025.

   sec.gov
3. Jan 24, 2025Funding

   Pre-IPO convertible notes -- $98.3M

   In January and March 2025 Heartflow issued $98.3 million in aggregate principal of convertible notes: $74.0 million in cash, $1.3 million issued to employees in lieu of cash compensation and $23.0 million exchanged out of the Hayfin term loan. The notes carried a $2.0 billion pre-money valuation cap and converted to common stock at the $19.00 IPO price.

   sec.gov
4. Mar 2, 2023Funding

   Series F -- $215.9M led by Bain Capital Life Sciences

   HeartFlow sold 61,344,029 Series F shares at $2.8505 for $174.9 million in cash and converted $40.0 million of 2022 convertible notes into 21,465,064 Series F-1 shares at $1.9098, a 33% discount. BCLS Fund III Investments (Bain Capital Life Sciences) put in $100.0 million. The SEC Form D reports $215,855,148 sold with a first sale on March 2, 2023. Anti-dilution protection for Series B-1 through E triggered a $26.8 million deemed dividend, confirming the round was a down round.

   sec.gov
5. October 2022Launch

   FDA clearance for Heartflow Plaque Analysis and RoadMap Analysis

   Heartflow Platform version 3.18, adding the Plaque and RoadMap functions, received FDA 510(k) clearance in October 2022. Plaque Analysis became the second commercial product alongside FFR-CT; limited market education began in the second half of 2023.

   sec.gov
6. Feb 4, 2022Milestone

   Longview SPAC merger terminated

   Longview Acquisition Corp. II, HeartFlow and the merger subsidiary signed a Termination of the Business Combination Agreement on February 4, 2022, mutually cancelling the July 2021 deal. HeartFlow remained private for another three and a half years.

   sec.gov
7. Jul 15, 2021Milestone

   SPAC merger with Longview Acquisition Corp. II announced at $2.4B

   HeartFlow Holding agreed to combine with Longview Acquisition Corp. II (NYSE: LGV), a SPAC sponsored by affiliates of Glenview Capital Management, at an approximate $2.4 billion pro forma enterprise value with an estimated $400 million of cash at closing. The combined company was to be renamed HeartFlow Group, Inc. and listed on the NYSE under the symbol HFLO.

   sec.gov
8. June 2019Funding

   Series E extended by $65.0M at $25.33 per share

   HeartFlow issued 2,565,953 additional Series E preferred shares at $25.33 per share for $64.9 million net of issuance costs. Series E ultimately totalled 12,040,980 shares with a $305.0 million liquidation value, making it the largest of the company private rounds before Series F.

   sec.gov
9. Nov 20, 2017Funding

   Private placement -- $90.0M sold toward a $150.0M equity offering

   A Form D filed with the SEC on December 4, 2017 reports a first sale on November 20, 2017 and $90.0 million sold against a $150.0 million equity offering by Heartflow, Inc.

   sec.gov
10. Nov 26, 2014Milestone

    FDA De Novo authorization for HeartFlow FFR-CT Analysis

    The FDA granted De Novo marketing authorization on November 26, 2014 for version 1.4 of the HeartFlow FFR-CT Analysis, supported by the NXT clinical trial. The decision created a new Class II device classification for CT-derived fractional flow reserve; a 510(k) for version 2.x followed in January 2015.

    sec.gov
11. July 2011Milestone

    CE Mark awarded for HeartFlow FFR-CT Analysis

    The company was awarded the Conformite Europeenne (CE) Mark for its HeartFlow FFR-CT Analysis in July 2011 -- its first regulatory authorization anywhere and the basis for European commercialization.

    sec.gov
12. July 2007Founded

    Incorporated in Delaware as Cardiovascular Simulation, Inc.

    Stanford bioengineering professor Charles A. Taylor co-founded the company, incorporated in Delaware in July 2007 as Cardiovascular Simulation, Inc. and renamed HeartFlow, Inc. in May 2009. Taylor joined the board in July 2007, served as Chief Technology Officer from April 2010 to February 2022 and as Chief Scientific Officer through December 2023.

    sec.gov