HeartSciences Inc. HSCS
We are a healthcare information technology company focused on advancing electrocardiography ("ECG" or "EKG") through the integration of artificial intelligence ("AI"). Our first commercial product is MyoVista Insights™, a cloud-native, vendor- and device-agnostic ECG management platform designed to modernize ECG workflows and enable scalable deployment of AI-ECG capabilities across healthcare systems.
MyoVista Insights™ is classified as a Medical Device Data System ("MDDS") and is exempt from the FDA 510(k) requirements. The platform is designed to streamline ECG study organization, enhance waveform analysis, and simplify clinical workflows, enabling more efficient interpretation, storage, and management of ECG data. It is also designed to host AI-ECG algorithms from multiple vendors and integrate them directly into clinical workflows, providing a flexible and extensible foundation for the adoption of AI in ECG.
Valuation FY2026 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|---|---|
| Revenue | — | $4.3K | $4.3K | $18.6K | $5.2K | $14.4K | — |
| Cost of revenue | — | $1.8K | $1.9K | $6.1K | $2.8K | $7.9K | — |
| Gross profit | — | $2.6K | $2.5K | $12.5K | $2.4K | $6.5K | — |
| R&D | — | $2.8M | $4.4M | $2.9M | $2.5M | $3.0M | — |
| SG&A | — | $5.6M | $4.0M | $3.4M | $3.7M | $1.7M | — |
| Total operating expenses | — | $8.4M | $8.4M | $6.3M | $6.1M | $4.7M | — |
| Operating income | — | -$8.4M | -$8.4M | -$6.3M | -$6.1M | -$4.7M | — |
| Interest expense | — | $753.0K | $500.5K | $354.1K | $243.2K | $371.6K | — |
| Pre-tax income | — | -$9.1M | -$8.8M | — | — | — | — |
| Income tax | — | $0 | $0 | — | — | — | — |
| Net income | — | -$9.1M | -$8.8M | -$6.6M | -$6.4M | -$4.8M | — |
| EPS, basic | — | -3.48 | -9.34 | -18.74 | -80.00 | -1.45 | — |
| EPS, diluted | — | — | -9.34 | -18.74 | -80.00 | -1.45 | — |
| Shares, diluted (wtd. avg.) | — | 2.6M | 938,257 | 352,520 | 79,506 | 3.3M | — |
Balance sheet
| Fiscal year | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|---|---|
| Cash and equivalents | $1.7M | $1.1M | $1.1M | $5.8M | $1.7M | $918.3K | $723.5K |
| Receivables | $0 | $4.3K | $4.3K | — | — | $2.3K | — |
| Inventory | $655.6K | $650.3K | $650.3K | $629.2K | $676.4K | $674.1K | — |
| Total current assets | $2.6M | $2.2M | $2.2M | $7.4M | $2.7M | $1.9M | — |
| Property, plant and equipment | $39.3K | $63.5K | $63.5K | $98.0K | $61.4K | $70.0K | — |
| Other intangibles | $1.7M | $1.6M | $1.6M | $1.6M | — | — | — |
| Total assets | $5.3M | $4.2M | $4.2M | $9.5M | $3.3M | $2.1M | — |
| Accounts payable | $318.3K | $318.7K | $318.7K | $448.2K | $631.4K | $694.7K | — |
| Total current liabilities | $4.9M | $3.7M | $3.7M | $1.8M | $1.8M | $3.5M | — |
| Total liabilities | $5.0M | $4.0M | $4.0M | $2.2M | $3.1M | $8.1M | — |
| Retained earnings | -$85.3M | -$76.1M | -$76.1M | -$67.4M | -$60.8M | -$54.4M | — |
| Total equity | $226.1K | $205.2K | $205.2K | $7.3M | $230.6K | -$6.1M | -$1.9M |
Cash flow
| Fiscal year | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|---|---|
| Operating cash flow | — | -$7.4M | -$7.4M | -$6.1M | -$5.8M | -$3.6M | — |
| Depreciation and amortisation | — | $27.8K | $37.6K | $27.9K | $26.9K | $26.6K | — |
| Stock-based compensation | — | $1.3M | $249.9K | $405.0K | $248.3K | $68.4K | — |
| Capital expenditure | — | $3.6K | $3.2K | $64.5K | $18.3K | $1.9K | — |
| Investing cash flow | — | -$44.5K | -$30.2K | -$125.3K | -$18.3K | -$1.9K | — |
| Financing cash flow | — | $8.0M | $2.7M | $10.3M | $6.5M | $3.8M | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001437749-26-024337.
Plot the figures US dollars
- Revenue
- Gross profit
- Net income
| Fiscal year | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | FY2026 |
|---|---|---|---|---|---|---|---|
| Revenue | — | $14.4K | $5.2K | $18.6K | $4.3K | $4.3K | — |
| Gross profit | — | $6.5K | $2.4K | $12.5K | $2.5K | $2.6K | — |
| Net income | — | -$4.8M | -$6.4M | -$6.6M | -$8.8M | -$9.1M | — |
Recent filings and events
- Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
- Regulation FD disclosure Item 7.01
- Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
- Unregistered share sale Shares issued outside a registered offering. Dilution, and for a small company often the way it is funded. Item 3.02
- Delisting notice The exchange has told the company it no longer meets the rules for staying listed - usually price, market cap, or filings that are late. Item 3.01
- Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
- Material agreement signed Item 1.01
- Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
- Regulation FD disclosure Item 7.01
- Unregistered share sale Item 3.02
- Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
- Unregistered share sale Item 3.02
Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.
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