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Side-by-side financial comparison of Heartflow, Inc. (HTFL) and Lifeway Foods, Inc. (LWAY). Click either name above to swap in a different company.

Lifeway Foods, Inc. is the larger business by last-quarter revenue ($55.4M vs $46.3M, roughly 1.2× Heartflow, Inc.). Lifeway Foods, Inc. runs the higher net margin — 4.6% vs -109.9%, a 114.5% gap on every dollar of revenue. Heartflow, Inc. produced more free cash flow last quarter ($-4.2M vs $-17.4M).

HeartFlow, Inc. develops non-invasive cardiovascular diagnostic solutions for global healthcare providers. Its core product uses CT scan data to build 3D coronary artery models, assess blood flow to detect blockages, and support clinicians in making personalized heart disease treatment decisions without invasive procedures.

Lifeway Foods is an Illinois-based health food company founded in 1986. They are a leading U.S. supplier of kefir and fermented probiotic products to support the microbiome.

HTFL vs LWAY — Head-to-Head

Bigger by revenue
LWAY
LWAY
1.2× larger
LWAY
$55.4M
$46.3M
HTFL
Higher net margin
LWAY
LWAY
114.5% more per $
LWAY
4.6%
-109.9%
HTFL
More free cash flow
HTFL
HTFL
$13.2M more FCF
HTFL
$-4.2M
$-17.4M
LWAY

Income Statement — Q3 FY2025 vs Q4 FY2025

Metric
HTFL
HTFL
LWAY
LWAY
Revenue
$46.3M
$55.4M
Net Profit
$-50.9M
$2.5M
Gross Margin
76.5%
27.8%
Operating Margin
-32.6%
6.8%
Net Margin
-109.9%
4.6%
Revenue YoY
18.0%
Net Profit YoY
1688.1%
EPS (diluted)
$-1.04
$0.15

Green = leading value per metric. Periods may differ when fiscal calendars don't align.

8-Quarter Revenue & Profit Trend

Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.

Revenue
HTFL
HTFL
LWAY
LWAY
Q4 25
$55.4M
Q3 25
$46.3M
$57.1M
Q2 25
$43.4M
$53.9M
Q1 25
$46.1M
Q4 24
$46.9M
Q3 24
$46.1M
Q2 24
$49.2M
Q1 24
$44.6M
Net Profit
HTFL
HTFL
LWAY
LWAY
Q4 25
$2.5M
Q3 25
$-50.9M
$3.5M
Q2 25
$-9.2M
$4.2M
Q1 25
$3.5M
Q4 24
$-160.0K
Q3 24
$3.0M
Q2 24
$3.8M
Q1 24
$2.4M
Gross Margin
HTFL
HTFL
LWAY
LWAY
Q4 25
27.8%
Q3 25
76.5%
28.7%
Q2 25
75.5%
28.6%
Q1 25
23.9%
Q4 24
25.3%
Q3 24
25.7%
Q2 24
27.0%
Q1 24
25.8%
Operating Margin
HTFL
HTFL
LWAY
LWAY
Q4 25
6.8%
Q3 25
-32.6%
8.8%
Q2 25
-31.6%
10.8%
Q1 25
3.4%
Q4 24
1.5%
Q3 24
9.1%
Q2 24
11.0%
Q1 24
8.0%
Net Margin
HTFL
HTFL
LWAY
LWAY
Q4 25
4.6%
Q3 25
-109.9%
6.2%
Q2 25
-21.2%
7.9%
Q1 25
7.7%
Q4 24
-0.3%
Q3 24
6.5%
Q2 24
7.7%
Q1 24
5.4%
EPS (diluted)
HTFL
HTFL
LWAY
LWAY
Q4 25
$0.15
Q3 25
$-1.04
$0.23
Q2 25
$-1.46
$0.28
Q1 25
$0.23
Q4 24
$0.00
Q3 24
$0.19
Q2 24
$0.25
Q1 24
$0.16

Balance Sheet & Financial Strength

Snapshot of each company's liquidity, leverage and book value from the latest quarter.

Metric
HTFL
HTFL
LWAY
LWAY
Cash + ST InvestmentsLiquidity on hand
$291.2M
$5.6M
Total DebtLower is stronger
Stockholders' EquityBook value
$254.6M
$85.8M
Total Assets
$364.4M
$105.6M
Debt / EquityLower = less leverage

8-quarter trend — quarters aligned by calendar period.

Cash + ST Investments
HTFL
HTFL
LWAY
LWAY
Q4 25
$5.6M
Q3 25
$291.2M
$23.0M
Q2 25
$80.2M
$21.2M
Q1 25
$19.4M
Q4 24
$16.7M
Q3 24
$20.6M
Q2 24
$14.6M
Q1 24
$12.0M
Total Debt
HTFL
HTFL
LWAY
LWAY
Q4 25
Q3 25
Q2 25
Q1 25
Q4 24
Q3 24
Q2 24
Q1 24
$2.5M
Stockholders' Equity
HTFL
HTFL
LWAY
LWAY
Q4 25
$85.8M
Q3 25
$254.6M
$82.8M
Q2 25
$-894.8M
$78.7M
Q1 25
$74.2M
Q4 24
$71.9M
Q3 24
$71.5M
Q2 24
$68.0M
Q1 24
$63.5M
Total Assets
HTFL
HTFL
LWAY
LWAY
Q4 25
$105.6M
Q3 25
$364.4M
$109.5M
Q2 25
$159.4M
$98.3M
Q1 25
$93.7M
Q4 24
$90.5M
Q3 24
$91.3M
Q2 24
$84.9M
Q1 24
$82.8M
Debt / Equity
HTFL
HTFL
LWAY
LWAY
Q4 25
Q3 25
Q2 25
Q1 25
Q4 24
Q3 24
Q2 24
Q1 24
0.04×

Cash Flow & Capital Efficiency

How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.

Metric
HTFL
HTFL
LWAY
LWAY
Operating Cash FlowLast quarter
$-3.0M
$267.0K
Free Cash FlowOCF − Capex
$-4.2M
$-17.4M
FCF MarginFCF / Revenue
-9.1%
-31.5%
Capex IntensityCapex / Revenue
2.7%
31.9%
Cash ConversionOCF / Net Profit
0.11×
TTM Free Cash FlowTrailing 4 quarters
$-16.4M

8-quarter trend — quarters aligned by calendar period.

Operating Cash Flow
HTFL
HTFL
LWAY
LWAY
Q4 25
$267.0K
Q3 25
$-3.0M
$6.9M
Q2 25
$-40.5M
$3.9M
Q1 25
$-150.0K
Q4 24
$-2.6M
Q3 24
$7.5M
Q2 24
$6.5M
Q1 24
$1.5M
Free Cash Flow
HTFL
HTFL
LWAY
LWAY
Q4 25
$-17.4M
Q3 25
$-4.2M
$1.8M
Q2 25
$-42.4M
$1.6M
Q1 25
$-2.4M
Q4 24
$-3.8M
Q3 24
$5.9M
Q2 24
$5.1M
Q1 24
$-923.0K
FCF Margin
HTFL
HTFL
LWAY
LWAY
Q4 25
-31.5%
Q3 25
-9.1%
3.1%
Q2 25
-97.6%
3.0%
Q1 25
-5.1%
Q4 24
-8.2%
Q3 24
12.8%
Q2 24
10.4%
Q1 24
-2.1%
Capex Intensity
HTFL
HTFL
LWAY
LWAY
Q4 25
31.9%
Q3 25
2.7%
9.0%
Q2 25
4.4%
4.3%
Q1 25
4.8%
Q4 24
2.7%
Q3 24
3.3%
Q2 24
2.9%
Q1 24
5.5%
Cash Conversion
HTFL
HTFL
LWAY
LWAY
Q4 25
0.11×
Q3 25
1.96×
Q2 25
0.92×
Q1 25
-0.04×
Q4 24
Q3 24
2.50×
Q2 24
1.73×
Q1 24
0.64×

Financial Flow Comparison

Revenue → gross profit → operating profit → net profit for each company.

Revenue Breakdown by Segment

HTFL
HTFL

Segment breakdown not available.

LWAY
LWAY

Drinkable Kefirotherthan Pro Bugs$47.8M86%
Cheese$4.7M8%
Cream And Other$1.7M3%
Other$1.2M2%

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