Southlake, TX, March 10, 2025 (GLOBE NEWSWIRE) -- HeartSciences Inc. (NASDAQ:HSCS, HSCSW)) ("HeartSciences" or the "Company"), an artificial intelligence ("AI")-powered medical technology company focused on transforming ECGs/EKGs to save lives through earlier detection of heart disease, announced today that it has engaged Integrous Communications, a premier investor relations firm, to enhance communication channels with investors and the investment community. Under the expert guidance of Integrous Communica ...

Financial Performance - HeartSciences Inc. reported financial results for the quarter ended October 31, 2024, with total revenue of $2.5 million, representing a 25% increase year-over-year[10] - The company achieved a gross margin of 60% for the quarter, up from 55% in the same period last year[10] - Operating expenses for the quarter were $1.8 million, a 10% increase compared to the previous year, primarily due to R&D investments[10] - HeartSciences reported a net loss of $500,000 for the quarter, an improvement from a net loss of $700,000 in the same quarter last year[10] User Growth - User data indicated a 30% increase in the number of active users, reaching 15,000 by the end of the quarter[10] Future Outlook - HeartSciences provided an optimistic outlook, projecting revenue growth of 20-25% for the next quarter[10] - The company is currently developing a new cardiac monitoring device expected to launch in Q2 2025[10] - HeartSciences plans to expand its market presence in Europe, targeting a 15% market share by the end of 2025[10] Strategic Initiatives - The company is exploring potential acquisition opportunities to enhance its product portfolio and market reach[10] - The company emphasized its commitment to innovation and strategic partnerships to drive future growth[10]

Southlake, TX, Dec. 16, 2024 (GLOBE NEWSWIRE) -- HeartSciences Inc. (Nasdaq: HSCS; HSCSW) ("HeartSciences" or the "Company"), an artificial intelligence (AI)-powered medical technology company focused on transforming ECGs/EKGs to save lives through earlier detection of heart disease, today reported financial results for the second quarter fiscal 2025 ended October 31, 2024 and provided a business update. Second Fiscal Quarter 2025 Highlights: In the run up to the close of 2024 and the second quarter of fisc ...

Southlake, TX, Oct. 14, 2024 (GLOBE NEWSWIRE) -- Heart Test Laboratories, Inc. d/b/a HeartSciences (Nasdaq: HSCS; HSCSW) ("HeartSciences" or the "Company"), an artificial intelligence (AI)-powered medical technology company focused on transforming ECGs/EKGs to save lives through earlier detection of heart disease, announced today that Company CEO Andrew Simpson has been invited to participate in the 2024 Maxim Healthcare Virtual Summit, presented by Maxim Group LLC and hosted by M-Vest, from Tuesday October ...

Southlake, TX, Sept. 12, 2024 (GLOBE NEWSWIRE) -- Heart Test Laboratories, Inc. d/b/a HeartSciences (Nasdaq: HSCS; HSCSW) ("HeartSciences" or the "Company"), an artificial intelligence (AI)-powered medical technology company focused on transforming ECGs/EKGs to save lives through earlier detection of heart disease, today reported financial results for the first quarter fiscal 2025 ended July 31, 2024 and provided a business update. First Fiscal Quarter 2025 Highlights: During the first quarter of fiscal yea ...

AI Technology Development - The company is focused on developing AI-based ECG technology to enhance cardiac screening capabilities [106]. - The MyoVista wavECG device is a proprietary 12-lead ECG that integrates AI-ECG algorithms for improved diagnostic information [106]. - The company entered into License Agreements with Mount Sinai to commercialize AI-ECG algorithms for various cardiovascular conditions [108]. - The FDA has cleared an algorithm for low ejection fraction (less than 40%) under the 510(k) pathway, with a submission for the MyoVista wavECG device planned for Q1 2025 [115]. - The company has received a patent for MyoVista wavelet technology from the Indian Patent Office in May 2024 [122]. Financial Performance - The company incurred approximately $300,000 in accrued interest to FRV as part of a debt extension agreement [122]. - The Streeterville Note issued to the company amounts to $2,510,000, with an interest rate of 8.5% per annum and a maturity of 18 months [123]. - Operating expenses primarily consist of research and development and selling, general, and administrative expenses [125]. - Research and development expenses include costs related to clinical trials, regulatory compliance, and personnel-related costs [126]. - Research and development expenses increased to $1.2 million for the three months ended July 31, 2024, up by $659,000 or 117% compared to the same period in 2023, primarily due to consulting costs for the MyoVista Insights Cloud Platform [129]. - Selling, general, and administrative expenses were approximately $0.9 million for the three months ended July 31, 2024, an increase of $86,000 or 11% compared to the same period in 2023, mainly due to payroll and professional expenses related to the reverse stock split [129]. - Total operating expenses reached $2.1 million for the three months ended July 31, 2024, reflecting a $745,000 or 56% increase from $1.3 million in the same period of 2023 [128]. - The net loss for the period ended July 31, 2024, was $2.1 million, a $685,000 or 50% increase compared to a net loss of $1.4 million in the same period of 2023 [128]. - As of July 31, 2024, the company had an accumulated deficit of $69.4 million and stockholder's equity of $5.9 million, with working capital of $4.7 million [131]. - The company incurred net cash used in operating activities of $2.0 million for the three months ended July 31, 2024, compared to $1.4 million for the same period in 2023 [137]. Capital Raising Activities - The company raised approximately $1.6 million from the sale of Common Stock under the Lincoln Park Purchase Agreement as of the date of the Quarterly Report [132]. - The company received approximately $9.8 million in net proceeds from the sale of Common Stock under the amended EDA as of the date of the Quarterly Report [133]. - The company entered into a Note Purchase Agreement with Streeterville for an unsecured promissory note of $2.51 million, resulting in approximately $1.9 million in net cash proceeds [134]. - The company reported a decrease in cash and cash equivalents to approximately $4.3 million as of July 31, 2024, down from $5.8 million as of April 30, 2024 [135].

Southlake, TX, Sept. 12, 2024 (GLOBE NEWSWIRE) -- Heart Test Laboratories, Inc. d/b/a HeartSciences (NASDAQ: HSCS; HSCSW) ("HeartSciences" or the "Company"), an artificial intelligence (AI)-powered medical technology company focused on transforming ECGs/EKGs to save lives through earlier detection of heart disease, today announced the close of a non-dilutive financing, with $1.9 million in net proceeds. The unsecured loan note has an 18-month maturity date and follows the recent 12-month extension of a $500 ...

HeartSciences Provides Business Update and Reports Fiscal 2024 Financial Results Southlake, TX, July 29, 2024 (GLOBE NEWSWIRE) -- Heart Test Laboratories, Inc. d/b/a HeartSciences (Nasdaq: HSCS; HSCSW) ("HeartSciences" or the "Company"), an artificial intelligence (AI)-powered medical technology company focused on transforming ECGs/EKGs to save lives through earlier detection of heart disease, today reported financial results for the fiscal year 2024 ended April 30, 2024 and provided a business update. Fisc ...

Southlake, TX, July 29, 2024 (GLOBE NEWSWIRE) -- Heart Test Laboratories, Inc. d/b/a HeartSciences (Nasdaq: HSCS; HSCSW) ("HeartSciences" or the "Company"), an artificial intelligence (AI)-powered medical technology company focused on transforming ECGs/EKGs to save lives through earlier detection of heart disease, today reported financial results for the fiscal year 2024 ended April 30, 2024 and provided a business update. The Company saw a number of major positive developments and resolved several signific ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 (Exact name of Registrant as specified in its Charter) TEXAS 26-1344466 (State or other jurisdiction of incorporation or organization) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended April 30, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM TO Commission File Number 001-4142 ...