HeartCore Q3 2022: Revenue $1.9M, net loss $0.11 per share vs net income $0.01 YoY

Revenues were $1.9 million compared to $3.5 million in the same period last year. The decrease in revenues was due to a decrease in sales of on-premise software, and primarily because of an accounting based principle around an important customer that renewed its software license in July 2021. The five-year term customer renewal had its total contract recognized as revenue in the third quarter of 2021. On Yen-based sales, revenues decreased by 24% year-over-year. Operating expenses increased to $2.3 million from $1.5 million in the same period last year. The increase was due to an increase in general and administrative expense. In particular, the increase resulted from an increase of hiring for the Go IPO Consulting Service and advertising. Net loss attributable to HeartCore Enterprises, Inc. was $2.0 million, or $(0.11) per diluted share, compared to a net income attributable to HeartCore Enterprises, Inc. of approximately $186,000 or $0.01 per diluted share, in the same period last ye