Filing Flows › HeartCore Enterprises (HTCR) › Q1 2026
HeartCore Enterprises (HTCR) Q1 2026 earnings results (first quarter 2026)
10-Q filed May 15, 2026
HeartCore Enterprises (HTCR) reported revenue of $1.2M for the first quarter 2026 (Q1 2026), -65% from a year earlier and -35% from the quarter before. Operating margin was -123.7%, net loss $2.0M (158.7% of revenue).
HeartCore Enterprises, Q1 2026: revenue $1.2M (-65% year over year), operating margin -123.7%, net loss $2.0M, operating cash flow −$1.2M. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $1.2M | -35% | -65% |
| Operating profit | −$1.5M | — | — |
| Net earnings | −$2.0M | -127% | — |
| Operating cash flow | −$1.2M | — | — |
What changed
Revenue was $1.2M in Q1 2026, down 65% year over year and down 35% from the previous quarter. Customised Software Development and Services was the largest line at 81% of revenue. Customised Software Development and Services lost $827K year over year (down 45%), 35% of the total change.
Gross margin was 5.9%, down 9.2 points from Q1 2025. Operating costs exceeded revenue by $1.5M, an operating margin of -123.7%. Operating expenses fell 7% while revenue fell 65%. The quarter ended with a net loss of $2.0M, after a profit of $7.2M the previous quarter. Minority interests bore $105K of it: to shareholders the quarter was a loss of $1.9M.
Operating cash flow was −$1.2M. Non-cash charges added back $8K of depreciation and $2K of share-based compensation. Working capital and other items added $813K. Capital expenditures of $1K exceeded it, leaving free cash flow of −$1.2M.
Questions
What was HeartCore Enterprises' revenue in the first quarter 2026?
HeartCore Enterprises (HTCR) reported revenue of $1.2M for the first quarter 2026 (Q1 2026), -65% from a year earlier and -35% from the quarter before.
Was HeartCore Enterprises profitable in the first quarter 2026?
Operating loss was $1.5M (-123.7% of revenue) and net loss $2.0M.