---
schema_version: "secwatch.filing_event.v1"
accession: "0001493152-25-023996"
form_type: "8-K"
ticker: "HTCR"
cik: "0001892322"
company_name: "HeartCore Enterprises, Inc."
filed_at: "2025-11-18T23:59:59+00:00"
generated_at: "2026-05-16T18:52:43.495443+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# HeartCore Q3 revenue falls to $3M, net income $0.4M after divesting software unit

## Summary
- Q3 2025 revenue $3.0M vs $16.2M prior year; prior year included $13M warrant revenue from large Go IPO deal.
- Net income of $0.4M (down from $10.8M); adjusted EBITDA $0.5M vs $12.0M.
- Divested HeartCore Japan subsidiary; pivoted fully to Go IPO consulting business.
- Cash and equivalents $1.5M at Sep 30, 2025; pro forma $2.5M after one-time stockholder distribution.
- Signed 16th Go IPO contract; one client began Nasdaq trading.

## SEC filing metadata
- accession: 0001493152-25-023996
- form_type: 8-K
- ticker: HTCR
- cik: 0001892322
- company_name: HeartCore Enterprises, Inc.
- filed_at: 2025-11-18T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1892322/000149315225023996/0001493152-25-023996-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1892322/000149315225023996/form8-k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001493152-25-023996
- JSON: https://secwatch.observer/filing/0001493152-25-023996.json
- Plain text: https://secwatch.observer/filing/0001493152-25-023996.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.