Financial Performance - HeartCore Enterprises reported a quarterly loss of $0.06 per share, which was worse than the Zacks Consensus Estimate of a loss of $0.01, marking an earnings surprise of -500% [1] - The company's revenues for the quarter ended March 2025 were $3.59 million, missing the Zacks Consensus Estimate by 25.74%, and down from $5.05 million a year ago [2] - Over the last four quarters, HeartCore has surpassed consensus EPS estimates only once and has topped consensus revenue estimates just once [2] Stock Performance - HeartCore shares have declined approximately 62.8% since the beginning of the year, contrasting with the S&P 500's gain of 0.2% [3] - The current Zacks Rank for HeartCore is 5 (Strong Sell), indicating expectations of underperformance in the near future [6] Future Outlook - The consensus EPS estimate for the upcoming quarter is -$0.02 on revenues of $4.65 million, and for the current fiscal year, it is -$0.01 on revenues of $18.18 million [7] - The estimate revisions trend for HeartCore is currently unfavorable, which could impact future stock movements [6] Industry Context - The Internet - Software and Services industry, to which HeartCore belongs, is currently ranked in the bottom 18% of over 250 Zacks industries, suggesting a challenging environment for stock performance [8]

PART I - FINANCIAL INFORMATION [Financial Statements](index=3&type=section&id=Item%201.%20Financial%20Statements) The company's financial health significantly declined in Q1 2025, marked by substantial decreases in total assets and shareholders' equity, a **28.9%** revenue drop, increased operating and net losses, and significant cash outflow from operations [Consolidated Balance Sheets](index=3&type=section&id=HEARTCORE%20ENTERPRISES%2C%20INC.%20CONSOLIDATED%20BALANCE%20SHEETS) As of March 31, 2025, total assets decreased to **$10.22 million** from **$13.97 million** at year-end 2024, driven by reduced cash and marketable securities, while total shareholders' equity plummeted to **$0.60 million** due to an increased accumulated deficit Consolidated Balance Sheet Highlights (Unaudited) | Account | March 31, 2025 | December 31, 2024 | | :--- | :--- | :--- | | **Assets** | | | | Cash and cash equivalents | $738,984 | $2,121,089 | | Investments in marketable securities | $2,251,276 | $4,495,703 | | Total current assets | $6,064,299 | $9,417,365 | | Total assets | $10,223,007 | $13,965,034 | | **Liabilities & Equity** | | | | Total current liabilities | $6,695,271 | $7,421,722 | | Total liabilities | $9,622,720 | $10,503,019 | | Accumulated deficit | $(19,331,835) | $(16,244,843) | | Total shareholders' equity | $600,287 | $3,462,015 | [Unaudited Consolidated Statements of Operations and Comprehensive Loss](index=5&type=section&id=HEARTCORE%20ENTERPRISES%2C%20INC.%20UNAUDITED%20CONSOLIDATED%20STATEMENTS%20OF%20OPERATIONS%20AND%20COMPREHENSIVE%20LOSS) For Q1 2025, revenues decreased **28.9%** to **$3.59 million**, leading to a widened operating loss of **$1.24 million** and a net loss of **$3.14 million**, more than double the prior-year quarter, worsening net loss per share to **$(0.14)** Statement of Operations Summary (For the Three Months Ended March 31) | Metric | 2025 | 2024 | | :--- | :--- | :--- | | Revenues | $3,587,026 | $5,046,732 | | Gross Profit | $1,100,284 | $2,032,189 | | Loss from Operations | $(1,244,157) | $(682,955) | | Net Loss | $(3,137,381) | $(1,478,002) | | Net Loss Attributable to HeartCore | $(3,086,992) | $(1,333,350) | | Basic and Diluted Net Loss per Share | $(0.14) | $(0.06) | [Unaudited Consolidated Statements of Changes in Shareholders' Equity](index=6&type=section&id=HEARTCORE%20ENTERPRISES%2C%20INC.%20UNAUDITED%20CONSOLIDATED%20STATEMENTS%20OF%20CHANGES%20IN%20SHAREHOLDERS%27%20EQUITY) Shareholders' equity decreased from **$3.46 million** at year-end 2024 to **$0.60 million** by March 31, 2025, primarily due to a **$3.14 million** net loss for the quarter, partially offset by common share issuances and option exercises - Total shareholders' equity decreased by **$2.86 million** during the first quarter of 2025[14](index=14&type=chunk) - The decrease was primarily driven by a net loss of **$3.14 million**[14](index=14&type=chunk) [Unaudited Consolidated Statements of Cash Flows](index=7&type=section&id=HEARTCORE%20ENTERPRISES%2C%20INC.%20UNAUDITED%20CONSOLIDATED%20STATEMENTS%20OF%20CASH%20FLOWS) Net cash used in operating activities significantly increased to **$2.0 million** in Q1 2025 due to a higher net loss, leading to an overall **$1.38 million** decrease in cash and cash equivalents despite a net inflow from financing activities Consolidated Cash Flow Summary (For the Three Months Ended March 31) | Activity | 2025 | 2024 | | :--- | :--- | :--- | | Net cash flows used in operating activities | $(2,000,791) | $(898,619) | | Net cash flows provided by investing activities | $473,061 | $1,650,814 | | Net cash flows provided by (used in) financing activities | $142,940 | $(474,752) | | **Net change in cash and cash equivalents** | **$(1,382,105)** | **$206,772** | [Notes to Unaudited Consolidated Financial Statements](index=9&type=section&id=HEARTCORE%20ENTERPRISES%2C%20INC.%20NOTES%20TO%20UNAUDITED%20CONSOLIDATED%20FINANCIAL%20STATEMENTS) The notes detail the company's organizational structure, accounting policies, revenue disaggregation showing declines in on-premise software and consulting, customer credit risk concentrations, related party transactions, investment value changes, debt obligations, and stock-based compensation plans - The company operates through its primary subsidiary HeartCore Japan, its **51% owned subsidiary Sigmaways**, and newly formed entities HeartCore Financial and HeartCore Luvina in Vietnam[21](index=21&type=chunk)[22](index=22&type=chunk)[24](index=24&type=chunk) Disaggregation of Revenues (For the Three Months Ended March 31) | Revenue Source | 2025 | 2024 | | :--- | :--- | :--- | | Revenues from on-premise software | $334,882 | $1,078,736 | | Revenues from maintenance and support services | $567,619 | $627,764 | | Revenues from SaaS | $172,844 | $139,700 | | Revenues from customized software development | $1,840,781 | $2,177,593 | | Revenues from consulting services | $245,543 | $575,481 | | **Total revenues** | **$3,587,026** | **$5,046,732** | - For Q1 2025, one customer (Customer B) represented **18.7%** of total revenues[50](index=50&type=chunk) - As of March 31, 2025, another customer (Customer A) represented **17.9%** of total accounts receivable[50](index=50&type=chunk) - The company determines its operations constitute a single operating segment[112](index=112&type=chunk) - Geographically, revenues are split between Japan (**$1.74M**) and the United States (**$1.74M**), with a smaller portion from international markets[114](index=114&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=27&type=section&id=Item%202.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management attributes the **28.9%** Q1 2025 revenue decline to reduced software sales and consulting, leading to a **45.9%** gross profit drop, wider operating loss, and a **112.3%** increase in net loss, further weakening liquidity and resulting in a Nasdaq minimum bid price deficiency notice [Business Overview](index=27&type=section&id=Business%20Overview) The company operates two main software development business units, Customer Experience (CX) and Digital Transformation (DX), and since 2022, a 'GO IPO' consulting business assisting Japanese companies with U.S. listings - The company has two primary business units: the CX division (CXM Platform) and the DX division (digital transformation and automation)[119](index=119&type=chunk)[120](index=120&type=chunk) - The 'GO IPO' business, started in 2022, assists Japanese companies with U.S. listings and has secured agreements with **14 companies** as of March 31, 2025[122](index=122&type=chunk) - The company expanded through the acquisition of a **51% stake** in Sigmaways, Inc. in 2023 and the formation of HeartCore Luvina in Vietnam and HeartCore Financial in the U.S.[124](index=124&type=chunk)[125](index=125&type=chunk) [Recent Developments](index=28&type=section&id=Recent%20Developments) In Q1 2025, the company lost its 'controlled company' status due to the CEO's reduced voting power, leading to the formation of new board committees, and subsequently received a Nasdaq deficiency notice for failing to meet the **$1.00** minimum bid price requirement - The company is no longer a 'controlled company' as the CEO's voting power dropped below **50%** due to at-the-market stock sales[131](index=131&type=chunk) - As a result, the company formed a Compensation Committee and a Nominating and Corporate Governance Committee composed of independent directors[127](index=127&type=chunk)[133](index=133&type=chunk) - On May 6, 2025, the company received a notice from Nasdaq for failing to meet the **$1.00** minimum bid price requirement[135](index=135&type=chunk) - The company has **180 calendar days**, until November 3, 2025, to regain compliance with the minimum bid price rule[136](index=136&type=chunk) [Results of Operations](index=30&type=section&id=Results%20of%20Operations) In Q1 2025, revenues fell **28.9%** to **$3.6 million** due to reduced software and consulting sales, leading to a **45.9%** gross profit decline and an **82.2%** increase in operating loss, with a **131.5%** rise in net loss attributable to the company due to increased losses on marketable securities Comparison of Operations (Three Months Ended March 31) | Metric | 2025 | 2024 | Change (%) | | :--- | :--- | :--- | :--- | | Revenues | $3,587,026 | $5,046,732 | -28.9% | | Gross Profit | $1,100,284 | $2,032,189 | -45.9% | | Loss from Operations | $(1,244,157) | $(682,955) | 82.2% | | Net Loss Attributable to HeartCore | $(3,086,992) | $(1,333,350) | 131.5% | - The revenue decrease was primarily driven by a **$743,854** drop in on-premise software sales, a **$336,812** decline in customized software services, and a **$329,938** reduction from GO IPO consulting services[143](index=143&type=chunk) - General and administrative expenses decreased by **19.8%** (**$476,915**), mainly due to lower salaries after employee restructuring and reduced amortization expenses[149](index=149&type=chunk) - Other expenses increased by **109.8%** (**$961,374**), largely due to a **$1,547,582** increase in losses from the change in fair value of marketable securities[153](index=153&type=chunk) [Liquidity and Capital Resources](index=32&type=section&id=Liquidity%20and%20Capital%20Resources) The company's liquidity significantly weakened in Q1 2025, with cash and cash equivalents falling to **$0.74 million** from **$2.12 million** due to a **$2.0 million** net cash outflow from operating activities, partially offset by investing and financing inflows Cash Flow Summary (Three Months Ended March 31, 2025) | Cash Flow Activity | Amount | | :--- | :--- | | Net cash flows used in operating activities | $(2,000,791) | | Net cash flows provided by investing activities | $473,061 | | Net cash flows provided by financing activities | $142,940 | | **Net change in cash and cash equivalents** | **$(1,382,105)** | - Cash and cash equivalents decreased to **$738,984** as of March 31, 2025, from **$2,121,089** as of December 31, 2024[158](index=158&type=chunk) - Net cash used in operating activities of **$2.0 million** was primarily due to the net loss of **$3.1 million**, offset by non-cash charges like a **$1.8 million** loss on marketable securities[160](index=160&type=chunk) [Contractual Obligations](index=33&type=section&id=Contractual%20Obligations) As of March 31, 2025, the company has significant contractual obligations, including **$1.94 million** in total future lease liabilities (**$1.88 million** operating, **$58,786** finance) and **$1.55 million** in future minimum principal payments for long-term debt Future Minimum Lease Payments (as of March 31, 2025) | Year Ended Dec 31, | Operating Leases | Finance Lease | | :--- | :--- | :--- | | Remaining of 2025 | $232,733 | $13,199 | | 2026 | $274,468 | $17,599 | | 2027 | $274,468 | $17,599 | | 2028 | $274,468 | $11,733 | | 2029 | $274,468 | - | | Thereafter | $637,857 | - | | **Total Lease Payments** | **$1,968,462** | **$60,130** | - As of March 31, 2025, future minimum principal payments for long-term debts total **$1,545,983**[164](index=164&type=chunk) [Quantitative and Qualitative Disclosures About Market Risk](index=34&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) The company has indicated that this item is not applicable - Not applicable[167](index=167&type=chunk) [Controls and Procedures](index=34&type=section&id=Item%204.%20Controls%20and%20Procedures) As of March 31, 2025, management concluded that the company's disclosure controls and procedures were not effective, consistent with the prior annual report, with no material changes to internal control over financial reporting identified during the quarter - The Chief Executive Officer and Chief Financial Officer concluded that the Company's disclosure controls and procedures were not effective as of March 31, 2025[168](index=168&type=chunk) - There were no changes in the Company's internal control over financial reporting during the quarter that have materially affected, or are reasonably likely to materially affect, the controls[169](index=169&type=chunk) PART II - OTHER INFORMATION [Legal Proceedings](index=35&type=section&id=Item%201.%20Legal%20Proceedings) The company states that it is not currently involved in any legal proceedings that would have a material effect on its business, financial position, or results of operations - To the knowledge of management, there are no pending legal proceedings that would have a material effect on the company[171](index=171&type=chunk) [Risk Factors](index=35&type=section&id=Item%201A.%20Risk%20Factors) As a smaller reporting company, the company is not required to disclose material changes to the risk factors previously reported in its Annual Report on Form 10-K - As a smaller reporting company, disclosure of material changes to risk factors is not required in this report[172](index=172&type=chunk) [Unregistered Sales of Equity Securities and Use of Proceeds](index=35&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) The company reported no unregistered sales of equity securities during the period - None[173](index=173&type=chunk) [Other Information](index=35&type=section&id=Item%205.%20Other%20Information) The company reports no material changes to procedures for security holders to recommend board nominees, and no director or officer adopted or terminated a Rule 10b5-1 trading plan during the quarter ended March 31, 2025 - There have been no material changes to the procedures by which security holders may recommend nominees to the Company's Board of Directors[176](index=176&type=chunk) - During the quarter, no director or officer adopted or terminated a Rule 10b5-1 trading plan[177](index=177&type=chunk) [Exhibits](index=36&type=section&id=Item%206.%20Exhibits) The report lists the exhibits filed, which include certifications from the Principal Executive Officer and Principal Financial Officer, as well as Inline XBRL documents - Filed exhibits include Rule 13a-14(a) certifications for the CEO and CFO, Section 906 certifications, and various Inline XBRL files[179](index=179&type=chunk)

[First Quarter 2025 Financial Results](index=1&type=section&id=HeartCore%20Reports%20First%20Quarter%202025%20Financial%20Results) [Management Commentary and Operational Highlights](index=1&type=section&id=Management%20Commentary%20and%20Operational%20Highlights) HeartCore advanced core software, reduced subsidiary losses, and anticipates future equity from Go IPO clients - Launched a dedicated business development team to strengthen CMS customer success and maintain high retention rates[3](index=3&type=chunk)[9](index=9&type=chunk) - Subsidiary Sigmaways has reduced costs and narrowed losses compared to the same period last year[3](index=3&type=chunk) - The balance sheet deficit is attributed to the decline in the stock price of held SBC Medical Group shares, which can be used for liquidity if needed[3](index=3&type=chunk) - Several Go IPO clients are expected to begin trading in 2025, which will provide HeartCore with additional equity[3](index=3&type=chunk) - Announced plans to expand the Go IPO consulting business into South Korea, with a seminar scheduled for September 2025[3](index=3&type=chunk)[9](index=9&type=chunk) [Financial Performance Summary](index=1&type=section&id=First%20Quarter%202025%20Financial%20Results) HeartCore's Q1 2025 revenue and gross profit declined, resulting in a wider net loss despite reduced operating expenses Q1 2025 vs Q1 2024 Financial Highlights | Financial Metric | Q1 2025 | Q1 2024 | Change | | :--- | :--- | :--- | :--- | | Revenues ($) | $3.6 million | $5.0 million | -28.0% | | Gross Profit ($) | $1.1 million | $2.0 million | -45.0% | | Operating Expenses ($) | $2.3 million | $2.7 million | -14.0% | | Net Loss ($) | $3.1 million | $1.5 million | Increased by 106.7% | | Adjusted EBITDA ($) | -$1.3 million | -$0.3 million | Increased loss | - The decrease in revenue was primarily due to a slowdown in on-premise software sales, reduced customized software development revenue from Sigmaways, and a lack of new Go IPO consulting orders in the quarter[4](index=4&type=chunk) Cash Position | Date | Cash and Cash Equivalents ($) | | :--- | :--- | | March 31, 2025 | $0.7 million | | December 31, 2024 | $2.1 million | [Non-GAAP Financial Measures](index=2&type=section&id=Non-GAAP%20Financial%20Measures%20Disclaimer) HeartCore uses Adjusted EBITDA, a non-GAAP measure, to show core operational performance, reporting a widened loss in Q1 2025 - Adjusted EBITDA is a non-GAAP financial measure calculated by adjusting net loss to exclude depreciation and amortization, impairment of intangible assets, and impairment of goodwill[11](index=11&type=chunk) Adjusted EBITDA Reconciliation (in millions) | Item | FY25 Q1 | FY24 Q1 | | :--- | :--- | :--- | | Net Loss | -$3.1 million | -$1.5 million | | (+) Depreciation and amortization expense | $0.0 million | $0.2 million | | (+) Changes in fair value of investments in marketable securities | $1.8 million | $0.2 million | | (+) Changes in fair value of investment in warrants | $0.1 million | $0.7 million | | Adjusted EBITDA | -$1.3 million | -$0.3 million | [Consolidated Financial Statements](index=3&type=section&id=Consolidated%20Financial%20Statements) HeartCore's Q1 2025 consolidated statements show decreased assets and equity, declining revenue, and negative cash flow from operations [Consolidated Balance Sheets](index=3&type=section&id=HEARTCORE%20ENTERPRISES%2C%20INC.%20CONSOLIDATED%20BALANCE%20SHEETS) HeartCore's balance sheet as of March 31, 2025, shows decreased total assets and a sharp decline in shareholders' equity Key Balance Sheet Items (As of) | Account | March 31, 2025 | December 31, 2024 | | :--- | :--- | :--- | | Cash and cash equivalents ($) | $738,984 | $2,121,089 | | Investments in marketable securities ($) | $2,251,276 | $4,495,703 | | Total Assets ($) | $10,223,007 | $13,965,034 | | Total Liabilities ($) | $9,622,720 | $10,503,019 | | Total Shareholders' Equity ($) | $600,287 | $3,462,015 | [Consolidated Statements of Operations](index=5&type=section&id=HEARTCORE%20ENTERPRISES%2C%20INC.%20Unaudited%20Consolidated%20Statements%20of%20Operations%20and%20Comprehensive%20Loss) Q1 2025 statements of operations show decreased revenues and gross profit, leading to a significantly widened net loss of $3.1 million Consolidated Statement of Operations (For the three months ended March 31) | Account | 2025 | 2024 | | :--- | :--- | :--- | | Revenues ($) | $3,587,026 | $5,046,732 | | Gross Profit ($) | $1,100,284 | $2,032,189 | | Loss from operations ($) | ($1,244,157) | ($682,955) | | Net loss ($) | ($3,137,381) | ($1,478,002) | | Net loss per share (Basic & Diluted) ($) | ($0.14) | ($0.06) | [Consolidated Statements of Cash Flows](index=6&type=section&id=HEARTCORE%20ENTERPRISES%2C%20INC.%20Unaudited%20Consolidated%20Statements%20of%20Cash%20Flows) Q1 2025 cash flows show increased net cash used in operations, resulting in a net decrease in cash and cash equivalents Consolidated Statement of Cash Flows (For the three months ended March 31) | Account | 2025 | 2024 | | :--- | :--- | :--- | | Net cash flows used in operating activities ($) | ($2,000,791) | ($898,619) | | Net cash flows provided by investing activities ($) | $473,061 | $1,650,814 | | Net cash flows provided by (used in) financing activities ($) | $142,940 | ($474,752) | | Net change in cash and cash equivalents ($) | ($1,382,105) | $206,772 | | Cash and cash equivalents - end of the period ($) | $738,984 | $1,219,251 |

Core Insights - HeartCore Enterprises, Inc. reported a decrease in revenues for Q1 2025, totaling $3.6 million, down from $5.0 million in the same period last year, primarily due to declines in on-premise software revenue and consulting services [4][6] - The company experienced a net loss of $3.1 million in Q1 2025, compared to a net loss of $1.5 million in Q1 2024, attributed to decreased revenue and gross profit [6][21] - HeartCore's cash and cash equivalents decreased to $0.7 million as of March 31, 2025, from $2.1 million at the end of 2024 [6][23] Financial Performance - Gross profit for Q1 2025 was $1.1 million, down from $2.0 million in Q1 2024, mainly due to reduced gross profit from on-premises software and Go IPO consulting services [5][20] - Operating expenses decreased by 14% to $2.3 million compared to $2.7 million in the same period last year, primarily due to lower general and administrative expenses [5][20] - Adjusted EBITDA for Q1 2025 was a loss of $1.3 million, worsening from a loss of $0.3 million in Q1 2024 [6][13] Strategic Developments - The company launched a dedicated business development team to enhance customer success initiatives for its CMS customers [3][8] - HeartCore plans to expand its Go IPO consulting business into South Korea, with a seminar scheduled for September 2025 [3][8] - The company is preparing for upcoming IPOs of several clients, which are expected to provide additional equity following their listings [3][8] Operational Highlights - HeartCore's subsidiary Sigmaways has made progress in reducing costs and narrowing its losses compared to the previous year [3] - The company continues to monitor and manage costs prudently across its operations [3] - HeartCore's customer experience management platform includes various tools aimed at enhancing customer engagement [7]

Core Insights - HeartCore Enterprises, Inc. is a leading enterprise software and data consulting services company based in Tokyo, scheduled to present at the Sidoti Micro-Cap Conference on May 21-22, 2025 [1][2] Company Overview - HeartCore offers Software as a Service (SaaS) solutions to enterprise customers both in Japan and globally [3] - The company provides data analytics services that enable businesses to create customized web experiences through superior design [3] - HeartCore's customer experience management platform includes marketing, sales, service, and content management systems, enhancing customer engagement [3] - The company also focuses on digital transformation, offering services such as robotics process automation, process mining, and task mining [3] - HeartCore's GO IPOSM consulting services assist Japanese companies in going public in the U.S. [3]

Company Overview - HeartCore Enterprises, Inc. is a leading enterprise software and data consulting services company based in Tokyo, Japan [3] - The company offers Software as a Service (SaaS) solutions and data analytics services to enterprise customers both in Japan and globally [3] - HeartCore's customer experience management platform includes marketing, sales, service, and content management systems, enhancing customer engagement [3] - The company also provides digital transformation services, including robotics process automation and task mining [3] - HeartCore's GO IPOSM consulting services assist Japanese companies in going public in the U.S. [3] Upcoming Events - HeartCore will present and hold one-on-one meetings at the Centri Capital Conference on April 22, 2025, at the Nasdaq headquarters in New York City [1] - CEO Sumitaka Kanno is scheduled to present at 9:30 a.m. Eastern time on the same day [2] - Interested parties can schedule one-on-one meetings by contacting the company via email [2]

NEW YORK and TOKYO, April 07, 2025 (GLOBE NEWSWIRE) -- HeartCore Enterprises, Inc. (Nasdaq: HTCR) (“HeartCore” or “the Company”), a leading enterprise software and data consulting services company based in Tokyo, announced a strategic partnership with NEC Solutions Innovators, Ltd. (“NEC Solutions”), a Japanese information and communication technology (“ICT”) systems integrator, effective March 2025. As businesses continue to embrace digital transformation to improve customer experience, operational effici ...

What's Next for HeartCore Enterprises? HeartCore Enterprises, Inc. (HTCR) came out with a quarterly loss of $0.17 per share versus the Zacks Consensus Estimate of $0.04. This compares to loss of $0.12 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of -525%. A quarter ago, it was expected that this company would post earnings of $0.45 per share when it actually produced earnings of $0.53, delivering a surprise of 17.78%. Over th ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2024 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ______, 20 ____, to ______, 20_____. Commission File Number 001-41272 HeartCore Enterprises, Inc. (Exact name of registrant as specified in its charter) Delaware 87-0913420 (Stat ...

Exhibit 99.1 HeartCore Reports 2024 Financial Results NEW YORK and TOKYO, March 31, 2025 (GLOBE NEWSWIRE) – HeartCore Enterprises, Inc. (Nasdaq: HTCR) ("HeartCore" or the "Company"), a leading enterprise software and consulting services company based in Tokyo, reported financial results for the year ended December 31, 2024. Recent Operational & Financial Highlights Management Commentary 2024 Financial Results Revenues increased 39% to $30.4 million, compared to $21.8 million in the same period last year. Th ...