Quarterly ResultMay 15, 2026, 08:32 AM
HeartCore Q1 Revenue $1.2M; Net Loss $2.0M; Authorizes $2.0M Buyback
AI Summary
HeartCore Enterprises reported Q1 2026 financial results with revenues decreasing to $1.2 million from $2.1 million year-over-year, primarily due to intense competition in customized software development. Despite this, net loss improved to $2.0 million from $3.1 million, mainly due to a reduction in the loss on the fair value of investments. The company also authorized a $2.0 million share repurchase program and regained Nasdaq's $1.00 minimum bid price requirement, while advancing its strategic focus on financial services and capital markets through its Higgs Field subsidiary.
Key Highlights
- HeartCore authorized a $2.0 million share repurchase program.
- Q1 2026 Revenues were $1.2 million, down from $2.1 million in Q1 2025.
- Q1 2026 Net loss was $2.0 million, an improvement from $3.1 million in Q1 2025.
- Q1 2026 Gross profit was $74,000, down from $0.5 million in Q1 2025.
- Operating expenses decreased to $1.6 million in Q1 2026 from $1.7 million in Q1 2025.
- Adjusted EBITDA was a loss of $1.6 million in Q1 2026, compared to a loss of $1.3 million in Q1 2025.
- Cash and cash equivalents were $0.8 million as of March 31, 2026.
- The company was engaged with 16 Go IPO clients as of March 31, 2026.
Price Impact
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