Heartbeam Inc. (BEAT) — RQD Stock Rating Cockpit

Per the Roarable RQD rating, BEAT scores 42 out of 100 with a letter grade of D- and a verdict label of "Roarable Sell — Vulnerable Balance Sheet & Flow." Across the five pillars, the fundamental cash engine scores 7 of 20 (ROIC -35%; FCF yield 0%), indicating the weakest pillar on operating economics. Whale/13F flow scores 11 of 20 (institutional accumulation and options positioning), the strongest pillar, which is the main upside-driver signal in the rating. Insider conviction scores 5 of 20 (SEC Form 4 and Congressional PTR cluster flow), reflecting limited insider-side support. Macro regime fit scores 9 of 20 (beta 1.0; sector sensitivity). Forensic balance sheet scores 10 of 20 (Altman Z 2.5; Piotroski F 2/9; Debt/Equity 0.5), reflecting a balance sheet the rating characterizes as vulnerable.

For a prospective investor evaluating the stock today, the rating implies that the investment case rests on forward catalysts and institutional interest rather than current cash generation, since the reported fundamentals show negative ROIC and zero FCF yield. Valuation tradeoffs are difficult to quantify because P/E and EV/EBITDA are not available in source data, and the company reports no revenue in the financial periods provided. The $0.54 price and $30.4M market capitalization sit against a 52-week range of $0.35 to $4, a wide band that signals high price volatility relative to the stated beta of 1.0.

Heartbeam Inc. (BEAT) is a NASDAQ-listed issuer in the Health Care sector, operating in the Medical/Dental Instruments industry. Per the profile, the company's market capitalization is $0.0B in that section, while the market data section reports $30.4M. Customer base, product line, and revenue model are not available in source data. The financials show revenue of $0.0M in each reported period, so the source data does not establish how the company makes money.

Per the SEC financials, the company reported operating losses and net losses across all three periods, with margins at 0% for gross, operating, and net per the market data. Per the market data, ROIC is -35%, and the Roarable RQD rating cites an Altman Z-Score of 2.5, a Piotroski F-Score of 2/9, and a Debt/Equity ratio of 0.5. Cash increased from $2.4M in FY 2024 to $4.4M in FY 2025 while free cash flow remained negative, and debt is not available in source data for any period.

Per the recent news section, the most prominent item is a headline stating HeartBeam stock soared on an FDA breakthrough designation, flagged as a green catalyst. Multiple sources report the same FDA Breakthrough Device Designation for heart attack assessment, with one describing the technology as aimed at assessing suspected heart attacks outside hospitals. Other items include a profile piece, a gap-up/gap-down session note, and a multi-stock catalyst roundup that names BEAT alongside MOBX and PRSO. The flagged risk watch items are limited to the yellow market-wire classifications on several entries, which the source does not further explain. Per the butterfly supply-chain graph, no proprietary signals or supply-chain links are recorded.

Per the Butterfly Supply-Chain Graph, the supply chain is recorded as NONE, with no butterfly links and no proprietary signals. Upstream suppliers, downstream customers, and sector correlations beyond the Health Care and Medical/Dental Instruments classification are not available in source data. A prospective investor should note that the absence of recorded links means second-order ripples cannot be mapped from the provided data; any regulatory or commercial effects of the FDA designation on partners or customers are not available in source data.

• What revenue, if any, does the company generate, given that every reported period shows $0.0M?
• What is the company's debt position, since debt is reported as N/A in every period?
• What are the commercial timelines and clinical milestones following the FDA Breakthrough Device Designation?
• Why does the market capitalization differ between the profile ($0.0B) and market data ($30.4M) sections?
• What is the current cash runway, given the reported FY 2025 cash of $4.4M against FCF of $-14.6M?