Filing Flows › HeartCore Enterprises (HTCR) › Q1 2025
HeartCore Enterprises (HTCR) Q1 2025 earnings results (first quarter 2025)
10-Q filed May 15, 2025
HeartCore Enterprises (HTCR) reported revenue of $3.6M for the first quarter 2025 (Q1 2025), -29% from a year earlier and +154% from the quarter before. Operating margin was -33.2%, net loss $3.1M (87.5% of revenue).
HeartCore Enterprises, Q1 2025: revenue $3.6M (-29% year over year), operating margin -33.2%, net loss $3.1M, operating cash flow −$2.0M. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $3.6M | +154% | -29% |
| Operating profit | −$1.2M | — | — |
| Net earnings | −$3.1M | — | — |
| Operating cash flow | −$2.0M | — | — |
What changed
Revenue was $3.6M in Q1 2025, down 29% year over year and up 154% from the previous quarter. Revenues From Customized Software Development and Services was the largest line at 51% of revenue. Revenues From Customized Software Development and Services lost $337K year over year (down 15%), 23% of the total change.
Gross margin was 30.7%, down 9.6 points from a year earlier. Operating costs exceeded revenue by $1.2M, an operating margin of -33.2%. Operating expenses fell 16% while revenue fell 29%. The quarter ended with a net loss of $3.1M, narrower than the previous quarter's $12.3M loss. Minority interests bore $50K of it: to shareholders the quarter was a loss of $3.1M. Net interest and other expense of $1.9M was the main reason.
Operating cash flow was −$2.0M. Non-cash charges added back $27K of depreciation and $32K of share-based compensation. Working capital and other items added $1.1M.
Questions
What was HeartCore Enterprises' revenue in the first quarter 2025?
HeartCore Enterprises (HTCR) reported revenue of $3.6M for the first quarter 2025 (Q1 2025), -29% from a year earlier and +154% from the quarter before.
Was HeartCore Enterprises profitable in the first quarter 2025?
Operating loss was $1.2M (-33.2% of revenue) and net loss $3.1M.