HTCR · Heartcore Enterprises, Inc. - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.25M | - | $2.99M | $4.07M | $5.05M | - | $17.85M | $4.07M | $5.05M | - |
| Cost of Revenue | $1.55M | - | $1.52M | $2.53M | $3.01M | - | $3.43M | $3.26M | $3.01M | - |
| Gross Profit | $74.0K | - | $1.47M | $2.22M | $1.10M | - | $14.42M | $805.9K | $2.03M | - |
| R&D | - | - | - | $161.5K | $123.9K | - | $107.5K | $111.3K | $89.1K | - |
| SG&A | $1.57M | - | $1.38M | $1.56M | $1.93M | - | $1.97M | $2.02M | $2.41M | - |
| Total Operating Expenses | $1.61M | - | $1.48M | $2.11M | $2.34M | - | $2.32M | $2.31M | $2.72M | - |
| D&A | $7.7K | - | $8.3K | $27.5K | $26.9K | - | - | - | $188.1K | - |
| Operating Income | ($1.54M) | - | ($11.1K) | $107.5K | ($1.24M) | - | $12.10M | ($1.51M) | ($683.0K) | - |
| Interest Expense | $1.4K | - | $3.3K | $37.0K | $36.7K | - | $31.4K | $37.0K | $36.7K | - |
| Income Tax | $17.5K | - | $3.4K | ($3.6K) | $56.6K | - | $225.3K | ($72.2K) | ($80.2K) | - |
| Net Income | ($1.87M) | - | $434.1K | $1.10M | ($3.09M) | - | $11.06M | ($1.95M) | ($1.33M) | - |
| EPS - Basic | ($1.49) | - | $0.40 | $1.00 | ($2.80) | - | $10.60 | ($1.80) | ($1.20) | - |
| EPS - Diluted | ($1.49) | - | $0.40 | $0.80 | ($2.80) | - | $10.60 | ($1.80) | ($1.20) | - |
Balance Sheet
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $774.0K | $1.99M | $1.45M | $3.81M | $1.22M | $2.12M | $1.23M | $3.81M | $1.22M | $1.01M |
| Accounts Receivable | $572.5K | $707.9K | $1.11M | $3.00M | $2.11M | $1.95M | $2.58M | $2.44M | $3.09M | $2.62M |
| Inventory | - | - | - | - | - | - | - | - | - | - |
| Accounts Payable | - | - | - | - | - | - | - | - | - | - |
| Current Assets | $6.87M | $8.42M | $12.61M | $8.93M | $6.06M | $9.42M | $12.25M | $10.90M | $9.02M | $5.49M |
| Total Assets | $11.77M | $13.06M | $13.34M | $13.53M | $10.22M | $13.97M | $25.47M | $24.08M | $22.33M | $19.62M |
| Current Liabilities | $5.86M | $5.33M | $9.01M | $7.09M | $6.70M | $7.42M | $6.53M | $15.19M | $11.02M | $6.51M |
| Long-term Debt | $434.9K | $448.4K | $461.4K | $1.10M | $1.17M | $1.24M | $1.38M | $1.40M | $1.52M | $1.77M |
| Total Liabilities | $6.51M | $5.78M | $9.51M | $9.97M | $9.62M | $10.50M | $11.16M | $20.31M | $15.97M | $11.96M |
| Stockholders' Equity | $6.87M | $8.78M | $5.19M | $4.84M | $1.84M | $4.65M | $12.40M | $1.61M | $3.94M | $5.17M |
| Retained Earnings | ($15.63M) | ($13.76M) | ($17.80M) | ($18.23M) | ($19.33M) | ($16.24M) | ($6.99M) | ($18.05M) | ($16.10M) | ($14.76M) |
Cash Flow
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | ($1.69M) | - | - | - | ($2.00M) | - | - | - | $741.4K | - |
| Investing Cash Flow | $462.8K | - | - | - | $473.1K | - | - | - | $10.8K | - |
| Financing Cash Flow | $162.9K | - | - | - | $142.9K | - | - | - | ($474.8K) | - |
| CapEx | $954 | - | - | - | - | - | - | - | - | - |
| Free Cash Flow | ($1.69M) | - | - | - | - | - | - | - | - | - |
Ratios
| Metric | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Profitability | ||||||||||
| Gross margin | 5.9% | - | 49.1% | 54.5% | 21.8% | - | 80.8% | 19.8% | 40.3% | - |
| Operating margin | -123.7% | - | -0.4% | 2.6% | -24.7% | - | 67.8% | -37.1% | -13.5% | - |
| EBITDA margin | -123.0% | - | -0.1% | 3.3% | -24.1% | - | - | - | -9.8% | - |
| Net margin | -150.2% | - | 14.5% | 27.0% | -61.2% | - | 61.9% | -48.0% | -26.4% | - |
| Free cash flow margin | -135.8% | - | - | - | - | - | - | - | - | - |
| FCF / Net income | 0.90 | - | - | - | - | - | - | - | - | - |
| R&D / Revenue | - | - | - | 4.0% | 2.5% | - | 0.6% | 2.7% | 1.8% | - |
| SG&A / Revenue | 126.2% | - | 46.3% | 38.4% | 38.2% | - | 11.0% | 49.7% | 47.7% | - |
| Effective tax rate | - | - | 0.8% | -0.3% | - | - | 2.0% | - | - | - |
| Return on assets | -15.9% | - | 3.3% | 8.1% | -30.2% | - | 43.4% | -8.1% | -6.0% | - |
| Return on equity | -27.2% | - | 8.4% | 22.7% | -167.7% | - | 89.2% | -121.5% | -33.9% | - |
| Return on invested capital | -16.6% | - | -0.2% | 1.8% | -32.7% | - | 86.0% | -39.6% | -9.9% | - |
| Liquidity | ||||||||||
| Current ratio | 1.17 | 1.58 | 1.40 | 1.26 | 0.91 | 1.27 | 1.88 | 0.72 | 0.82 | 0.84 |
| Quick ratio | 1.17 | 1.58 | 1.40 | 1.26 | 0.91 | 1.27 | 1.88 | 0.72 | 0.82 | 0.84 |
| Cash ratio | 0.13 | 0.37 | 0.16 | 0.54 | 0.18 | 0.29 | 0.19 | 0.25 | 0.11 | 0.16 |
| Leverage | ||||||||||
| Debt / Equity | 0.06 | 0.05 | 0.09 | 0.23 | 0.63 | 0.27 | 0.11 | 0.87 | 0.39 | 0.34 |
| Debt / Assets | 0.04 | 0.03 | 0.03 | 0.08 | 0.11 | 0.09 | 0.05 | 0.06 | 0.07 | 0.09 |
| Debt / EBITDA | - | - | - | 8.13 | - | - | - | - | - | - |
| Interest coverage | -1082.6x | - | -3.3x | 2.9x | -33.9x | - | 385.4x | -40.7x | -18.6x | - |
| Equity multiplier | 1.71 | 1.49 | 2.57 | 2.79 | 5.55 | 3.00 | 2.05 | 15.00 | 5.67 | 3.80 |
| Liabilities / Assets | 0.55 | 0.44 | 0.71 | 0.74 | 0.94 | 0.75 | 0.44 | 0.84 | 0.72 | 0.61 |
| Efficiency | ||||||||||
| Asset turnover | 0.11 | - | 0.22 | 0.30 | 0.49 | - | 0.70 | 0.17 | 0.23 | - |
| Inventory turnover | - | - | - | - | - | - | - | - | - | - |
| Days sales outstanding | 168d | - | 135d | 269d | 153d | - | 53d | 219d | 223d | - |
| Days inventory outstanding | - | - | - | - | - | - | - | - | - | - |
| Days payable outstanding | - | - | - | - | - | - | - | - | - | - |
| Cash conversion cycle | - | - | - | - | - | - | - | - | - | - |
| Valuation | ||||||||||
| P / E | - | - | 40.5x | 12.3x | - | - | 1.6x | - | - | - |
| P / B | 0.8x | - | 87.9x | 54.8x | 179.7x | - | 28.6x | 181.4x | 102.2x | - |
| P / S | 4.6x | - | 152.5x | 65.3x | 65.5x | - | 19.9x | 71.6x | 79.8x | - |
| EV / EBITDA | - | - | - | 1946.4x | - | - | - | - | - | - |
| Growth | ||||||||||
| Revenue growth (YoY) | -75.3% | - | -83.2% | 0.0% | 0.0% | - | 280.7% | -20.2% | -42.2% | - |
| Revenue CAGR (3y) | -47.8% | - | -4.8% | 12.4% | 33.7% | - | - | - | - | - |
| Revenue CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| Gross profit growth (YoY) | -93.3% | - | -89.8% | 175.2% | -45.9% | - | 1639.8% | -46.6% | -63.9% | - |
| Operating income growth (YoY) | -23.8% | - | - | - | -82.2% | - | - | -2.7% | - | - |
| Net income growth (YoY) | 39.4% | - | -96.1% | - | -131.5% | - | - | -114.0% | - | - |
| EPS growth (YoY) | 46.8% | - | -96.2% | - | -133.3% | - | - | -4400.0% | - | - |
| EPS CAGR (3y) | - | - | 242.0% | - | - | - | - | - | - | - |
| EPS CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| FCF growth (YoY) | - | - | - | - | - | - | - | - | - | - |
| FCF CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| Book value growth (YoY) | 273.4% | 88.7% | -58.1% | 201.5% | -53.3% | -9.9% | 58.9% | -84.0% | -18.1% | 7.4% |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2025-12-31.
Product / service
$8.97M totalCustomised Software Development And Services$6.86M · 76.5%
Consulting Services$1.91M · 21.3%
Software Development Services$196.5K · 2.2%
Peer comparison
Same SIC group: Services-Computer Processing & Data Preparation
Comparing HeartCore Enterprises against the 5 most active filers in the same SIC group.
Dividends
$2.60/share trailing 12 months · +550.0% YoY
| Ex-date | Per share |
|---|---|
| Nov 10, 2025 | $2.6000 |
| Aug 19, 2024 | $0.4000 |
| Apr 25, 2024 | $0.4000 |