NEW YORK and TOKYO, May 15, 2025 (GLOBE NEWSWIRE) -- HeartCore Enterprises, Inc.(Nasdaq: HTCR) ("HeartCore” or the "Company”), a leading enterprise software and consulting services company based in Tokyo, reported financial results for the first quarter ended March 31, 2025.
The decrease was primarily due to decreased on-premise software revenue, decreased customized software development and services revenue attributed to the business slowdown of Sigmaways, and decreased Go IPO consulting services revenue as no new IPO consulting orders were entered this quarter.Gross profit was $1.1 million compared to $2.0 million in the same period last year.
ItemFY25 Q1FY24 Q1Net Loss-$3.1 million-$1.5 million(+) Depreciation and amortization expense$0.0 million$0.2 million(+) Changes in fair value of investments in marketable securities$1.8 million$0.2 million(+) Changes in fair value of investment in warrants$0.1 million$0.7 million(+) Interest income$0.0 million$0.0 million(+) Interest expenses$0.0 million$0.0 millionAdjusted EBITDA-$1.3 million-$0.3 million Forward-Looking StatementsThis press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended, or the Private Securities Litigation Reform Act of 1995.
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