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HeartCore Enterprises cash flow, quarter by quarter

Latest: Q2 2026 · from the cash-flow statements filed with the SEC

Free cash flow−$1.3M in Q2 2026 · −$3.6M over twelve months

Operating cash flow−$1.3M
Capital spending−$1K
Free cash flow−$1.3M

Analysis

In Q2 2026, HeartCore Enterprises generated −$1.3M of operating cash flow and spent $1K on capital projects, leaving free cash flow of −$1.3M. That is $656K less than in Q2 2025 (−$674K).

Over the twelve months to Jun 30, 2026, operating cash flow was −$3.6M; the largest uses were operating cash flow ($3.6M), other financing ($3.5M); besides operations, cash came from other investing ($4.9M); the cash balance fell by $1.8M.

Operating cash flow was −$1.3M against net income of −$2.0M. The largest differences: gains on investments +$521K, receivables −$175K, deferred revenue −$82K.

Free cash flow

HeartCore Enterprises: free cash flow by quarterHeartCore Enterprises: free cash flow by quarter−$1.8MQ3 2024−$1.3MQ4 2024−$2.0MQ1 2025−$674KQ2 2025−$1.0MQ3 2025−$136KQ4 2025−$1.2MQ1 2026−$1.3MQ2 2026
Operating cash flow less capital spending.
HeartCore Enterprises: operating cash flow against capital spendingHeartCore Enterprises: operating cash flow against capital spendingOperating cash flowCapital spending−$1.8M$0Q3 2024−$1.3M$3KQ4 2024−$2.0M$0Q1 2025−$674K$0Q2 2025−$1.0M$0Q3 2025−$136K$0Q4 2025−$1.2M$1KQ1 2026−$1.3M$1KQ2 2026
Latest (Q2 2026): Operating cash flow −$1.3M, Capital spending $1K.

Capital allocation, year by year

HeartCore Enterprises: where the cash came from (up) and went (down), by fiscal yearHeartCore Enterprises: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedAsset salesCapital spendingAcquisitionsBuybacksDividendsFY2021: Operating cash flow $766KFY2021: Net borrowing −$932KFY2021: Shares issued $678KFY2021: Capital spending −$36K$1.4MFY2021FY2022: Operating cash flow −$4.8MFY2022: Net borrowing −$976KFY2022: Shares issued $221KFY2022: Capital spending −$57KFY2022: Buybacks −$3.5M$221KFY2022FY2023: Operating cash flow −$4.3MFY2023: Net borrowing $22KFY2023: Asset sales $25KFY2023: Capital spending −$526KFY2023: Acquisitions −$725K$47KFY2023FY2024: Operating cash flow −$4.8MFY2024: Shares issued $1.4MFY2024: Capital spending −$7KFY2024: Dividends −$835K$1.4MFY2024FY2025: Operating cash flow −$3.1MFY2025: Net borrowing −$15KFY2025: Shares issued $1.9MFY2025: Asset sales $2.1MFY2025: Dividends −$3.3M$4.0MFY2025
Over these 5 years operating cash flow totalled −$16.3M; the largest uses were operating cash flow ($17.0M) and dividends ($4.1M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$3.3M
Debt$556K
Net cash$2.7M
Due within a year$51K
Cash runway11 months

HeartCore Enterprises is burning cash: its operations consume cash, a free cash flow of −$3.6M a year at the current rate against $3.3M of cash and investments: a runway of about 11 months; $51K of debt also comes due within a year, which would need refinancing or new money before any new financing.

HeartCore Enterprises: debt maturities by year (FY2025)HeartCore Enterprises: debt maturities by year (FY2025)$51KYear 1$55KYear 2$60KYear 3$28KYear 4$10KYear 5$295KAfter year 5
Principal due in each year as disclosed in the annual report, against $3.3M of cash and investments now.

Where the cash came from and went

HeartCore Enterprises: sources (+) and uses (−) of cash, Q2 2026HeartCore Enterprises: sources (+) and uses (−) of cash, Q2 2026Operating cash flow−$1.3MNot reconciled$811KOther investing$347KCash drawn (+) / kept (−)$187KExchange rates−$13KOther financing−$2KCapital spending−$1K
HeartCore Enterprises: sources (+) and uses (−) of cash, TTM to Q2 2026HeartCore Enterprises: sources (+) and uses (−) of cash, TTM to Q2 2026Other investing$4.9MOperating cash flow−$3.6MOther financing−$3.5MCash drawn (+) / kept (−)$1.8MNot reconciled$673KExchange rates−$137K

From profit to cash

HeartCore Enterprises: net income to operating cash flow, Q2 2026HeartCore Enterprises: net income to operating cash flow, Q2 2026Net income−$2.0MDepreciation & amortization$8KGains on investments$521KReceivables−$175KDeferred revenue−$82KPrepaid and other assets−$25KOther liabilities−$16KIncome taxes payable$21KOperating cash flow−$1.3M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.
QuarterReceivable daysInventory daysPayable daysCash conversion cycle
Q2 202549—65-16
Q1 202539—70-31

Every quarter

QuarterOperating cash flowCapital spendingDividendsNet borrowing (+) / repaid (−)Shares issuedCash drawn (+) / kept (−)Free cash flow
Q2 2026−$1.3M−$1K———$187K−$1.3M
Q1 2026−$1.2M−$1K———$1.2M−$1.2M
Q4 2025−$136K——−$2K—$39K−$136K
Q3 2025−$1.0M——−$4K—$323K−$1.0M
Q2 2025−$674K——−$224K—−$1.6M−$674K
Q1 2025−$2.0M——−$24K$147K$1.4M−$2.0M
Q4 2024−$1.3M−$3K—−$4K—−$889K−$1.3M
Q3 2024−$1.8M—−$417K−$4K—$2.6M−$1.8M

HeartCore Enterprises: income statement and cash flow

HeartCore Enterprises, Q2 2026: revenue $321K (-93% year over year), operating margin -256.4%. The chart follows the revenue to costs, profit and cash.

HeartCore Enterprises: every quarter, Q/Q and Y/Y → Open in the app

Read automatically from the company’s XBRL cash-flow statements; quarterly figures for the fourth quarter are the year less the first three. Errors are possible. Not investment advice.