HeartCore Enterprises, Inc. HTCR
Business section, along with other sections of this annual report on Form 10-K, includes statistical and other industry and market
data that we obtained from industry publications and research, surveys and studies conducted by third parties. Industry publications
and third-party research, surveys and studies generally indicate that their information has been obtained from sources believed to
be reliable, although they do not guarantee the accuracy or completeness of such information. While we believe that these industry
Valuation FY2025 figures against the last close
Where the revenue comes from as reported in the latest 10-K
Revenue by geography
- United States
- Japan
- International
| Region | FY2025 | FY2024 |
|---|---|---|
| United States | $6.4M | $7.5M |
| Japan | $1.9M | $14.7M |
| International | $612.6K | $468.5K |
As the company reported it, from the “SCHEDULE OF SUMMARIZES THE BREAKDOWN OF REVENUES BY GEOGRAPHY (Details)” note of its latest 10-K. Every figure here has been checked against the total revenue the same filing reported. Regions are the filer's own and are not mapped onto a standard list — one company's “Americas” and another's “United States” are different areas, and making them look comparable would mean making at least one of them wrong. Slices under 1% are folded into “Other”.
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 |
|---|---|---|---|---|---|---|---|
| Revenue | $9.0M | $22.7M | $21.8M | $8.8M | $10.8M | $9.0M | — |
| Cost of revenue | $5.8M | $8.0M | $13.8M | $5.5M | $5.6M | $5.0M | — |
| Gross profit | $3.2M | $14.7M | $8.1M | $3.4M | $5.2M | $4.0M | — |
| R&D | — | $179.8K | $1.0M | $641.0K | $510.7K | $311.0K | — |
| SG&A | $6.0M | $6.9M | $9.7M | $6.6M | $4.3M | $3.2M | — |
| Total operating expenses | $6.3M | $14.9M | $12.2M | $10.0M | $5.1M | $3.8M | — |
| Operating income | -$3.1M | -$161.7K | -$4.1M | -$6.7M | $59.0K | $258.7K | — |
| Interest expense | $87.7K | $118.8K | $163.0K | $41.8K | $43.2K | — | — |
| Pre-tax income | -$4.1M | -$5.5M | -$5.0M | -$6.7M | $14.9K | $227.3K | — |
| Income tax | $44.9K | $363.2K | $133.7K | $5.9K | $341.9K | $72.2K | — |
| Net income | $5.8M | -$1.5M | -$4.2M | -$6.7M | -$338.2K | $151.0K | — |
| EPS, basic | 0.25 | -0.07 | -0.21 | -0.37 | -0.02 | 0.01 | — |
| EPS, diluted | 0.22 | -0.07 | -0.21 | -0.37 | -0.02 | 0.01 | — |
| Shares, diluted (wtd. avg.) | 25.5M | 20.9M | 20.4M | 17.9M | 15.2M | 14.8M | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 |
|---|---|---|---|---|---|---|---|
| Cash and equivalents | $2.0M | $2.0M | $1.0M | $7.2M | $3.1M | $3.1M | — |
| Short-term investments | $3.7M | $4.5M | $642.3K | — | — | — | — |
| Receivables | $707.9K | $1.0M | $2.6M | $551.1K | $961.0K | $708.5K | — |
| Total current assets | $8.4M | $9.4M | $5.5M | $8.5M | $4.6M | $4.3M | — |
| Property, plant and equipment | $291.6K | $475.7K | $763.7K | $203.6K | $261.4K | $376.9K | — |
| Goodwill | — | — | $3.3M | $3.3M | — | — | — |
| Other intangibles | — | — | $4.5M | — | — | — | — |
| Total assets | $13.1M | $14.0M | $19.6M | $12.1M | $9.1M | $10.4M | — |
| Accounts payable | — | $2.0M | $1.8M | $497.7K | $646.4K | $269.9K | — |
| Short-term debt | $50.6K | $46.4K | $371.8K | $697.9K | $850.0K | $936.7K | — |
| Total current liabilities | $5.3M | $7.4M | $6.5M | $3.6M | $4.6M | $3.7M | — |
| Long-term debt | $448.4K | $498.7K | $1.8M | $1.1M | $1.9M | $3.0M | — |
| Total liabilities | $5.8M | $10.5M | $12.0M | $7.3M | $9.7M | $11.0M | — |
| Retained earnings | -$13.8M | -$16.2M | -$14.8M | -$10.6M | -$3.9M | -$3.6M | — |
| Total equity | $8.8M | $4.7M | $7.7M | $4.8M | -$559.0K | -$604.2K | -$1.6M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 |
|---|---|---|---|---|---|---|---|
| Operating cash flow | -$3.1M | -$3.9M | -$4.3M | -$4.8M | $766.3K | $745.7K | — |
| Depreciation and amortisation | $46.4K | $676.0K | $683.0K | $83.3K | $105.4K | $114.5K | — |
| Stock-based compensation | -$151.1K | $368.7K | $1.4M | $1.5M | $18.8K | — | — |
| Capital expenditure | — | $7.4K | $526.3K | $57.1K | $36.2K | $27.2K | — |
| Investing cash flow | $5.6M | $6.3M | -$1.8M | -$12.2K | -$179.0K | -$401.1K | — |
| Financing cash flow | -$1.5M | $134.1K | $136.2K | $8.9M | -$257.4K | $2.1M | — |
| Dividends paid | $3.3M | $834.6K | — | — | — | — | — |
| Buybacks | — | — | — | $3.5M | — | — | — |
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 0001493152-26-014236.
Plot the figures US dollars
- Revenue
- Gross profit
- Net income
| Fiscal year | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|
| Revenue | — | $9.0M | $10.8M | $8.8M | $21.8M | $22.7M | $9.0M |
| Gross profit | — | $4.0M | $5.2M | $3.4M | $8.1M | $14.7M | $3.2M |
| Net income | — | $151.0K | -$338.2K | -$6.7M | -$4.2M | -$1.5M | $5.8M |
Recent filings and events
- Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
- 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
- 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
- Material agreement signed Item 1.01
- Acquisition or disposal completed A purchase or sale of a significant business or asset has closed. Item 2.01
- Regulation FD disclosure Item 7.01
- Results announced Item 2.02
- Regulation FD disclosure Item 7.01
- Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
- Charter or fiscal year changed A change to the company's governing documents, or to when its year ends. Item 5.03
- Regulation FD disclosure Item 7.01
- Other event Item 8.01
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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