HeartCore Enterprises, Inc.
Financial highlights
| Metric | FY 12/31/25 | FY 12/31/24 | FY 12/31/23 | FY 12/31/22 | FY 12/31/21 |
|---|---|---|---|---|---|
| Income Statement | |||||
| Revenue | $9.0M | $30.4M | $21.8M | $8.8M | $10.8M |
| Cost of revenue | $5.8M | $8.0M | $13.8M | $5.5M | $5.6M |
| Gross profit | $3.2M | $14.7M | $8.1M | $3.4M | $5.2M |
| Research and development | — | $179,762 | $1.0M | $641,025 | $510,740 |
| Operating expenses | $6.3M | $14.9M | $12.2M | $10.0M | $5.1M |
| Operating income | -$3.1M | -$161,711 | -$4.1M | -$6.7M | $59,018 |
| Interest expense | $87,660 | $118,789 | $162,968 | $41,800 | $43,240 |
| Pretax income | -$4.1M | -$5.5M | -$5.0M | -$6.7M | $14,901 |
| Income tax expense | $44,900 | -$363,156 | -$133,664 | -$5,918 | $341,945 |
| Net income | $5.8M | -$1.5M | -$4.2M | -$6.7M | -$338,156 |
| Balance Sheet | |||||
| Cash and equivalents | $2.0M | $2.0M | $1.0M | $7.2M | $3.1M |
| Current assets | $8.4M | $9.4M | $5.5M | $8.5M | $4.6M |
| Total assets | $13.1M | $14.0M | $19.6M | $12.1M | $9.1M |
| Current liabilities | $5.3M | $7.4M | $6.5M | $3.6M | $4.6M |
| Total liabilities | $5.8M | $10.5M | $12.0M | $7.3M | $9.7M |
| Total debt | — | — | $2.2M | — | — |
| Stockholders' equity | $8.8M | $4.7M | $5.2M | $4.8M | -$558,952 |
| Cash Flow Statement | |||||
| Cash from operations | -$3.1M | -$4.8M | -$4.3M | -$4.8M | $766,300 |
| Depreciation and amortization | $46,373 | $676,047 | $683,019 | $83,333 | $105,394 |
| Stock-based compensation | $151,139 | $368,744 | $1.4M | $1.5M | $18,787 |
| Capital expenditure | — | $7,446 | $526,260 | $57,071 | $36,153 |
| Free cash flow | — | -$4.8M | -$4.9M | -$4.9M | $730,147 |
| Dividends paid | $3.3M | $834,566 | — | — | — |
| Share repurchases | — | — | — | $3.5M | — |
| Impairments | — | $3.9M | $0 | $0 | — |
Shares outstanding 1.4M · Free float 79.0%
Annual filing data through FY ended December 31, 2025; float as of July 16, 2026.