HeartCore Q1 revenue down 43% to $1.2M; net loss narrows to $2.0M

HeartCore Enterprises, Inc.

Revenue of $1.2M, down 43% YoY from $2.1M due to decline in software development and services.
Gross profit $74K vs $0.5M YoY; impacted by higher outsourcing costs and lower Go IPO consulting margins.
Net loss of $2.0M improved from $3.1M loss YoY; adjusted EBITDA loss of $1.6M vs $1.3M.
Cash and equivalents $0.8M as of Mar 31; company engaged with 16 Go IPO clients.
Board authorized $2.0M share repurchase program; regained Nasdaq $1.00 minimum bid compliance.

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