| Metric | Value ($ M) | Q1 FY25 |
|---|---|---|
| Revenue | 1.25 | 65.2% |
| Total Income | 1.25 | 65.2% |
| Expenditure | 2.79 | 42.2% |
| PBT | -1.96 | 36.4% |
| Net Profit | -1.87 | 39.5% |
| OPM | — | |
| NPM | — | |
| EPS | -1.49 | 964.3% |
HeartCore Reports Q1 2026 Revenue at $1.2 million
15 May 2026 · 15 May, 6:07 pm
Summary
HeartCore Enterprises, Inc. reported its financial results for the first quarter ended March 31, 2026. Revenues were $1.2 million, down from $2.1 million in the same period last year, primarily due to a decline in customized software development and services revenue. The company's gross profit decreased to $74,000 from $0.5 million year-over-year. Net loss improved to $2.0 million compared to a loss of $3.1 million in the prior year. As of March 31, 2026, HeartCore had cash and cash equivalents of $0.8 million.
Key Highlights
- 1
HeartCore Enterprises reported revenues of $1.2 million for the first quarter of 2026, compared to $2.1 million in the same period last year.
- 2
Gross profit for Q1 2026 was $74,000, a decrease from $0.5 million in the prior year.
- 3
Operating expenses decreased to $1.6 million in Q1 2026, compared to $1.7 million in the same period last year.
- 4
Net loss for the first quarter of 2026 was $2.0 million, an improvement from a loss of $3.1 million in the same period last year.
- 5
Adjusted EBITDA was a loss of $1.6 million compared to a loss of $1.3 million in the same period last year.
- 6
As of March 31, 2026, the Company had cash and cash equivalents of $0.8 million.
- 7
HeartCore was engaged with 16 Go IPO clients as of March 31, 2026, including 6 clients currently in various stages of preparation for potential public registrations and U.S. exchange listings.
Management Comments
Sumitaka Kanno
During the first quarter of 2026, HeartCore continued to advance its strategic focus on financial services and capital markets-related services, with Go IPO remaining the key contributor for coming quarters. While the Nasdaq listing environment has become selective and increasingly focused on compliance, we continue to see interest from Japanese and other Asia-based companies seeking access to the U.S. capital markets. In light of these current market conditions, we are focused on expanding the number of engagements and enhancing the overall quality of our pipeline by prioritizing clients that we believe demonstrate stronger listing readiness and long-term financing potential. Through our subsidiary Higgs Field Co., Ltd., we are also taking steps to support potential expansion into additional financial services and sectors, including digital securities and capital markets advisory services. During the first quarter, we added experienced financial industry personnel and further developed our organizational structure as we prepare to seek a Type I Financial Instruments business license in Japan. We are also working with external professionals and industry organizations to further strengthen our internal management and compliance framework. Looking ahead, we remain focused on broadening our Go IPO client base that aligns with Nasdaq’s tightened requirements and diversifying our revenue base as we further develop and advance our financial services business.”
Informational and educational content only. Not investment advice.