HeartCore Q1 revenue $8.7M (+284% YoY); net income $1.8M vs loss; strong Go IPO pipeline

HeartCore Enterprises, Inc.

2023-Q1 EPS reported $0.10 revenue$8,734,150

Revenue $8.7M up 284% YoY; net income $1.8M ($0.10 diluted EPS) vs $1.6M loss.
Gross margin 64% vs 54% a year ago; Go IPO business drove improvement.
Acquired 51% of Sigmaways; Subaru Group deployed CMS for ~100 websites.
CEO expects six more Go IPO closings in 2023, including SBC Medical Group (~$32.4M revenue).
Cash $5.2M; total global enterprise customers reached 916.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

HeartCore Enterprises, Inc. reported the first quarter ended March 31, 2023 results: revenue $8.7 million, net income $1.8 million, EPS $0.10 per diluted share.

Period: the first quarter ended March 31, 2023
Revenue: $8.7 million
Net income: $1.8 million
EPS: $0.10 per diluted share
Result: reported results

Exact text from the filing

I am very confident in our team’s ability to make 2023 the strongest year for HeartCore across several measures.” First Quarter 2023 Financial Results Revenues increased 284% to $8.7 million compared to $2.3 million in the same period last year. The increase was primarily due to the expansion of the Go IPO business, as a growing number of Japanese venture companies

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HeartCore Enterprises, Inc. filing history →

Source: SEC EDGAR

accession 0001493152-23-018530

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