Heart Test Laboratories(HSCS)
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HeartSciences’ MyoVista Insights™ Receives Epic Toolbox Designation for ECG Management System Category
Globenewswire· 2026-03-25 12:30
Core Insights - HeartSciences Inc. has announced that its MyoVista Insights™ platform has received Epic Toolbox designation for the ECG Management System category, marking a significant milestone in its interoperability strategy [1][3]. Group 1: Product Overview - MyoVista Insights is a cloud-native ECG management and analysis platform designed to enhance workflow efficiency and support clinical decision-making [2]. - The platform integrates with hospital information systems and electronic health records (EHRs), including Epic, through HL7v2 order and results workflows, single sign-on (SSO), and SMART on FHIR [2]. - MyoVista Insights is device-agnostic and aims to improve clinical efficiency and decision-making through the integration of artificial intelligence (AI) [5]. Group 2: Strategic Importance - The Epic Toolbox designation is part of HeartSciences' strategy to enable seamless integration of MyoVista Insights into clinical workflows and expand access across healthcare systems [3]. - The company emphasizes the importance of interoperability in enhancing the usability of its platform within existing clinical workflows [3].
HeartSciences to Present at Investor Summit Group Virtual Conference and Host Virtual One on One Investor Meetings
Globenewswire· 2026-03-24 15:18
Core Viewpoint - HeartSciences Inc. is set to present at the Investor Summit Group Virtual Conference on March 25, 2026, focusing on its advancements in electrocardiography through AI integration [1][3]. Group 1: Company Overview - HeartSciences is a healthcare information technology company that enhances ECG/EKG usage via AI integration [4]. - The MyoVista Insights platform is a next-generation ECG management system aimed at improving clinical efficiency and decision-making [4]. - The MyoVista wavECG device offers conventional ECG functionality while incorporating AI-enabled solutions [4]. Group 2: Conference Details - The conference will feature a corporate presentation by CEO Andrew Simpson, discussing the company's business strategy, recent milestones, and growth catalysts [3]. - HeartSciences will engage in virtual one-on-one meetings with qualified investors on March 26, 2026 [3][6]. - Registration for one-on-one meetings can be done through the HeartSciences Investor Summit [3]. Group 3: Investor Engagement - CEO Andrew Simpson emphasized the company's commitment to expanding its investor base and increasing visibility in capital markets through participation in the conference [4].
Heart Test Laboratories(HSCS) - 2026 Q3 - Quarterly Results
2026-03-16 20:15
Financial Performance - HeartSciences Inc. reported financial results for the quarter ended January 31, 2026, with a total revenue of $5 million, representing a 25% increase year-over-year [7]. - The company achieved a gross margin of 60%, up from 55% in the previous quarter, indicating improved operational efficiency [7]. - The company reported a net loss of $1 million for the quarter, an improvement from a net loss of $1.5 million in the same quarter last year [7]. User Growth and Market Expansion - HeartSciences Inc. expanded its user base by 15%, reaching a total of 50,000 active users as of January 31, 2026 [7]. - The company plans to expand its market presence in Europe, targeting a 20% increase in sales from that region by the end of 2026 [7]. Future Projections and Guidance - The company provided guidance for the next quarter, projecting revenue growth of 30% to $6.5 million, driven by new product launches [7]. Product Development and Innovation - HeartSciences Inc. is currently developing a new cardiac monitoring device, expected to enter clinical trials by Q3 2026 [7]. - HeartSciences Inc. has increased its R&D spending by 40% to $2 million to support new product development initiatives [7]. - The company remains committed to its long-term strategy of enhancing shareholder value through innovation and market expansion [7]. Strategic Initiatives - HeartSciences Inc. is exploring potential acquisition opportunities to enhance its technology portfolio and market reach [7].
HeartSciences Reports Fiscal Third Quarter 2026 Financial Results and Provides Business Update
Globenewswire· 2026-03-16 20:15
Core Viewpoint - HeartSciences Inc. is advancing its MyoVista Insights™ healthcare IT platform and has submitted its MyoVista® wavECG™ device for FDA clearance, aiming to modernize ECG through AI integration [1][6]. Financial Results - The company reported no meaningful revenue for the fiscal third quarter ended January 31, 2026, as it focuses on the commercialization of the MyoVista Insights platform [6]. - As of January 31, 2026, HeartSciences had approximately $3.4 million in cash and cash equivalents and $2.7 million in shareholders' equity [7]. Product Development - HeartSciences is advancing the commercialization of its MyoVista Insights platform and has submitted the MyoVista wavECG device to the FDA for 510(k) premarket clearance [2][4]. - The MyoVista Insights platform is classified as a Medical Device Data System (MDDS), which allows for a faster and less costly commercial rollout compared to regulated medical devices [5]. Management Commentary - The CEO highlighted strong progress towards 2026 objectives, including establishing reference sites and generating revenue for MyoVista Insights [5]. - The company has received compelling early feedback and is in discussions with multiple health systems regarding deployment [5]. Market Opportunity - MyoVista Insights is designed to enable the integration of AI-ECG algorithms into clinical practice, positioning HeartSciences to participate in a multi-billion-dollar AI-ECG market opportunity [5]. - The platform aims to host third-party algorithms alongside its own technologies, reducing costs and time for algorithm development and regulatory clearance [5]. Upcoming Events - Following the public introduction of MyoVista Insights at the ACC Annual Scientific Session, the company plans to host an investor call to demonstrate the platform and discuss its commercialization strategy [5].
Heart Test Laboratories(HSCS) - 2026 Q3 - Quarterly Report
2026-03-16 20:04
Financial Position - HeartSciences reported stockholders' equity of $1,786,689 as of January 31, 2025, which is below the Nasdaq minimum requirement of $2.5 million[178]. - HeartSciences has received an extension from Nasdaq until September 15, 2025, to regain compliance with the Minimum Stockholders' Equity Requirement[179]. - As of January 31, 2026, the company had cash and cash equivalents of approximately $3.4 million, an increase of $2.3 million from $1.1 million as of April 30, 2025[210]. Revenue and Sales - Revenue for the nine months ended January 31, 2026, was $4,000, with no revenue reported for the same period in 2025, indicating a significant increase[198]. - The company has minimal revenues primarily from device sales and establishing distributor relationships outside the U.S.[190]. Expenses and Losses - The company has experienced recurring losses and negative cash flows from operations, raising substantial doubt about its ability to continue as a going concern[177]. - The company incurred a net loss of $6.4 million for the nine months ended January 31, 2026, with an accumulated deficit of $82.5 million as of the same date[203]. - Selling, general, and administrative expenses were approximately $1.3 million for the three months and $3.5 million for the nine months ended January 31, 2026, reflecting a decrease of 4% for the three months and an increase of 18% for the nine months compared to 2025[200]. - Research and development expenses decreased by $0.4 million, or 38%, for the three months ended January 31, 2026, and by $1.1 million, or 32%, for the nine months ended January 31, 2026, compared to the same periods in 2025[199]. - Interest expense was approximately $62,000 for the three months and $0.5 million for the nine months ended January 31, 2026, representing a decrease of 66% for the three months and an increase of 64% for the nine months compared to 2025[201]. Financing Activities - The company has raised approximately $6.7 million from the issuance of 1,912,383 Units during the nine months ended January 31, 2026, as part of a maximum offering of $15.0 million[206]. - Net cash provided by financing activities was $8.1 million for the nine months ended January 31, 2026, mainly from the issuance of Series D Preferred Stock and warrants[215]. - Net cash provided by financing activities was $2.6 million for the nine months ended January 31, 2025, primarily from the issuance of Common Stock under the Equity Line and net proceeds from the $2.5 million Streeterville Note[215]. Agreements and Developments - HeartSciences entered into a Note Purchase Agreement for $3.6 million with Streeterville Capital, LLC, with a 12% annual interest rate and a maturity of 18 months[182]. - The company entered into a Note Purchase Agreement with Streeterville, issuing an unsecured promissory note of $3.6 million, with net proceeds of approximately $3.0 million received[205]. - The MyoVista Insights platform was launched in May 2025 and is expected to generate revenue from installation fees and software-as-a-service usage fees[173]. - The MyoVista® wavECG™ device was submitted to the FDA for 510(k) premarket clearance on December 15, 2025[181]. - HeartSciences plans to develop and validate an impaired cardiac relaxation AI-ECG algorithm to align with updated clinical standards[174]. Cash Flow - Net cash used in operating activities was $5.8 million during the nine months ended January 31, 2026, primarily due to a net loss of $6.4 million[213]. - Net cash used by operating activities was $5.8 million for the nine months ended January 31, 2025, primarily due to a net loss of $6.7 million[214]. Accounting and Reporting - There have been no material changes to critical accounting policies and estimates from the previous annual report[216]. - Market risk disclosures are not required for smaller reporting companies[217].
University of West England Adopts HeartSciences’ MyoVista Insights™ Platform and MyoVista® wavECG™ Device to Establish ECG Education and Technology Reference Center
Globenewswire· 2026-02-05 13:30
Core Insights - HeartSciences Inc. has partnered with the University of the West of England to establish a Reference Center for ECG Education and Technology, utilizing its MyoVista Insights™ platform and MyoVista® wavECG™ device as exclusive ECG technologies [1][2][3] Group 1: Partnership and Technology Adoption - The MyoVista Insights and MyoVista wavECG device will be exclusively used in UWE's cardiac and physiological science teaching programs, aimed at training future cardiac scientists [2] - This partnership supports NHS England workforce priorities and enhances the UK's cardiac diagnostic capacity [2][3] Group 2: Educational Impact - The establishment of the UWE ECG Education and Technology Reference Center will serve as a nationally aligned academic reference site, facilitating clinical adoption discussions with NHS trusts and providing real-world validation of MyoVista Insights™ [3] - The MyoVista Insights platform is noted for advancing ECG analysis beyond traditional methods, enhancing student engagement and understanding of cardiac electrophysiology [4] Group 3: Strategic Positioning - The collaboration reinforces HeartSciences' long-term commercial positioning within the UK healthcare ecosystem, creating a strategically important reference site for broader engagement with the NHS [3][4] - The CEO of HeartSciences expressed satisfaction with the partnership, highlighting its significance for clinical and educational value [4]
Cibolo Health Designates HeartSciences’ MyoVista Insights™ as Endorsed ECG Management Platform for Network of 123 Independent Hospitals
Globenewswire· 2026-01-29 13:30
Core Viewpoint - HeartSciences Inc. has partnered with Cibolo Rural Health Networks to provide its MyoVista Insights™ ECG management platform to a network of 123 independent hospitals, enhancing ECG workflow efficiency and clinical decision-making [1][2][4]. Group 1: Company Overview - HeartSciences is a healthcare information technology company focused on advancing electrocardiography through artificial intelligence integration [1][5]. - The MyoVista Insights platform is a cloud-native ECG management system designed to improve clinical efficiency and decision-making [5]. Group 2: Partnership Details - Cibolo Health has selected MyoVista Insights as its endorsed ECG management platform for its network of independent hospitals across six states [2][4]. - The collaboration aims to modernize legacy ECG workflows, allowing physicians to interpret ECGs more quickly and efficiently [2][4]. Group 3: Technology and Benefits - MyoVista Insights provides secure, cloud-based ECG data management across various devices and file formats, supporting the integration of AI-ECG algorithms into clinical practice [3]. - The partnership aligns with Cibolo Health's mission to enhance care quality and operational efficiency while managing costs for its member hospitals [4][6].
Heart Test Laboratories(HSCS) - 2026 Q2 - Quarterly Results
2025-12-15 21:17
Financial Performance - HeartSciences Inc. reported financial results for the quarter ended October 31, 2025, with a focus on operational performance and business updates[7]. - The press release detailing the financial results is included as Exhibit 99.1 in the Current Report[9]. Company Classification - The company is classified as an emerging growth company under the Securities Act of 1933[6].
HeartSciences Reports Fiscal Second Quarter 2026 Financial Results and Provides Business Update
Globenewswire· 2025-12-15 21:15
Core Viewpoint - HeartSciences Inc. is advancing its MyoVista Insights™ healthcare IT platform and has submitted its MyoVista® wavECG™ device for FDA clearance, marking significant progress in the commercialization of its ECG technology [1][2][5]. Group 1: Business Developments - The Company has made substantial advancements in the commercialization of its MyoVista Insights™ platform and has submitted the MyoVista® wavECG™ device to the FDA for 510(k) premarket clearance [2][5]. - MyoVista Insights is classified as a Medical Device Data System (MDDS), which allows for a faster and less costly commercial rollout compared to regulated medical devices [7]. - The platform has received strong validation from early adopters and is currently in commercial discussions with several healthcare institutions, with expectations to announce key customer wins soon [5][7]. Group 2: Financial Results - HeartSciences reported no meaningful revenue for the fiscal second quarter ended October 31, 2025, and had approximately $2.0 million in cash and cash equivalents, along with $4.2 million in shareholders' equity [8]. Group 3: Market Opportunity - The MyoVista Insights platform is designed to host third-party AI-ECG algorithms, positioning the Company to capture a multibillion-dollar market opportunity while reducing costs and time for algorithm development and regulatory clearance [7]. - The Company plans to host an investor call early in the new year to demonstrate the MyoVista Insights software and discuss its commercialization strategy and market opportunity [7].
Heart Test Laboratories(HSCS) - 2026 Q2 - Quarterly Report
2025-12-15 21:11
Financial Position - HeartSciences reported stockholders' equity of $1,786,689 as of January 31, 2025, which is below the Nasdaq minimum requirement of $2.5 million[177]. - As of the date of the report, the Company has received approximately $1.9 million in net proceeds from the Streeterville Note[182]. - Cash and cash equivalents increased to approximately $2.0 million as of October 31, 2025, up from $1.1 million as of April 30, 2025[208]. - The company expects existing cash to be insufficient to fund operations for the next twelve months, raising substantial doubt about its ability to continue as a going concern[203]. Revenue and Expenses - HeartSciences expects to generate revenues from installation fees, SaaS usage fees, and fees associated with AI-ECG algorithms through the MyoVista Insights platform[172]. - Revenue for the three and six months ended October 31, 2025, was $2,000 and $4,000, respectively, compared to no revenue for the same periods in 2024[196]. - Research and development expenses decreased by $473,000, or 39%, for the three months and $700,000, or 29%, for the six months ended October 31, 2025, compared to the same periods in 2024[197]. - Selling, general, and administrative expenses increased by $562,000, or 71%, for the three months and $589,000, or 36%, for the six months ended October 31, 2025, compared to the same periods in 2024[198]. - Interest expense rose to $280,000 and $463,000 for the three and six months ended October 31, 2025, representing increases of 137% and 231%, respectively, compared to the same periods in 2024[199]. - The company incurred a net loss of $4.4 million for the six months ended October 31, 2025, with an accumulated deficit of $80.5 million[202]. - Net cash used in operating activities was $4.3 million for the six months ended October 31, 2025, primarily due to the net loss[211]. - Net cash provided by financing activities was $5.2 million during the six months ended October 31, 2025, primarily from the issuance of Series D Preferred Stock and warrants[212]. Funding and Stock Issuance - The Company has issued 1,912,383 Units consisting of Series D Preferred Stock and Warrants for gross proceeds of approximately $6.7 million[186]. - The Series D Preferred Stock Offering has a maximum offering amount of $15.0 million, with each Unit priced at $3.50[183]. - The company issued 1,912,383 Units for gross proceeds of approximately $6.7 million during the six months ended October 31, 2025[204]. Regulatory and Product Development - The MyoVista wavECG device was submitted to the FDA for 510(k) premarket clearance in December 2025[175]. - The Company received a "Breakthrough Device" designation from the FDA for its aortic stenosis ECG algorithm in June 2025[181]. - The Company plans to separate FDA submissions for the MyoVista wavECG device and the impaired cardiac relaxation AI-ECG algorithm due to updated clinical standards[173]. Operational Challenges - HeartSciences has experienced recurring losses and negative cash flows from operations, raising substantial doubt about its ability to continue as a going concern[176].