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]

Company Overview - HeartCore Enterprises, Inc. is a leading enterprise software and data consulting services company headquartered in Tokyo, Japan, offering Software as a Service (SaaS) solutions and data analytics services to enterprise customers globally [4] - The company's customer experience management platform includes marketing, sales, service, and content management systems, aimed at enhancing customer experience and driving engagement [4] - HeartCore also provides digital transformation services, including robotics process automation, process mining, and task mining, to accelerate enterprise digital transformation [4] Strategic Partnership - HeartCore announced a strategic partnership with NEC Solutions Innovators, Ltd., effective March 2025, to enhance its capabilities in delivering customized content management system (CMS) solutions [1][2] - The partnership aims to integrate HeartCore's CMS platform with NEC Solutions' system integration technology, facilitating tailored CMS solutions that meet the unique needs of businesses [2] - This collaboration is expected to streamline information dissemination, optimize operational efficiency, and enhance customer engagement for clients [2] Market Position and Future Strategy - HeartCore's CEO, Sumitaka Kanno, emphasized the importance of strategic partnerships to maintain the company's CMS solution as a market leader in Japan [3] - The partnership with NEC Solutions is seen as a pivotal step in refining system implementation strategies to address diverse customer requirements [3] - HeartCore aims to deepen its partnership with NEC Solutions to create new implementation strategies that align with the evolving needs of customers [3]

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 ...

Core Insights - HeartCore Enterprises, Inc. reported a 39% increase in revenue for 2024, reaching $30.4 million compared to $21.8 million in 2023, driven by successful Go IPO consulting services [6][7] - The company experienced a net loss of $5.2 million for the year, but adjusted EBITDA improved to $7.3 million, indicating a positive operational performance excluding one-time impairment losses [10][12] - Strategic acquisitions and global expansion are key focuses for HeartCore, with plans to enhance its software offerings and enter new markets, particularly in the APAC region [3][5] Financial Performance - Revenue increased by 39% to $30.4 million in 2024 from $21.8 million in 2023 [6][7] - Gross profit rose 121% to $17.8 million, up from $8.1 million in the previous year [8] - Operating expenses increased by 46% to $17.8 million, primarily due to a $7.2 million impairment related to the subsidiary Sigmaways [9] - The net loss for 2024 was $5.2 million, an improvement from a loss of $4.9 million in 2023 [10][15] - Adjusted EBITDA for the year totaled $7.3 million, compared to a negative $3.6 million in the previous year [10][12] Strategic Initiatives - The company aims to deepen customer relationships through strategic acquisitions and enhance its software solutions with synergistic technologies [3][4] - HeartCore plans to expand its Go IPO consulting business into South Korea, marking the first step in a broader APAC expansion strategy [5][6] - A new business development team has been established to strengthen customer success across HeartCore's CMS business [6] Market Position - HeartCore has maintained the top market share in Japan for nine consecutive years, indicating strong competitive positioning [6] - The company has regained compliance with Nasdaq's continued listing requirements, reflecting improved financial health [6] Cash Position - As of December 31, 2024, HeartCore had cash and cash equivalents of $2.1 million, an increase from $1.0 million at the end of 2023 [10][19]

Core Insights - HeartCore Enterprises, Inc. has established a new Business Development team to enhance customer success in its CMS business [1][2][3] - The BizDev team aims to provide comprehensive, end-to-end support for a wider range of customer needs, from website development to ongoing operations [2][3] - The formation of this team is part of HeartCore's strategy to evolve its CMS business and strengthen recurring revenues [3] Company Overview - HeartCore is a leading enterprise software and consulting services company headquartered in Tokyo, Japan, offering SaaS solutions and data analytics services [6] - The company's customer experience management platform includes various systems and tools designed to enhance customer engagement [6] - HeartCore also provides digital transformation services, including robotics process automation and consulting for Japanese companies going public in the U.S. [6] Case Study - The BizDev team successfully supported the renewal and relaunch of the Tourinji temple's website, enhancing its online branding and user experience [4][5] - The project involved client interviews, site visits, concept development, and professional photography to reflect the temple's serene atmosphere [5]

Company Overview - HeartCore Enterprises, Inc. is a leading enterprise software and data consulting services company headquartered in Tokyo, Japan [3] - The company offers Software as a Service (SaaS) solutions and data analytics services to enterprise customers 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 process mining [3] - HeartCore's GO IPOSM consulting services assist Japanese companies in going public in the U.S. [3] Conference Participation - HeartCore will hold one-on-one meetings at the 37th Annual ROTH Conference from March 16-18, 2025, in Dana Point, California [1] - CEO Sumitaka Kanno will engage with institutional investors during the conference [1] - The conference will feature approximately 450 participating companies across various growth sectors, including Business Services, Consumer, Healthcare, and Technology [2]

Core Insights - HeartCore Enterprises, Inc. is expanding its Go IPO consulting services into South Korea to meet the growing demand from Asia Pacific companies seeking to list on U.S. exchanges [1][2] - The company has initiated a sales and marketing initiative in the Asia-Pacific region, starting with a referral program in South Korea, and plans to collaborate with Thomas Yi from Cross Border Associates [2][3] - HeartCore's CEO, Sumitaka Kanno, highlighted the appeal of U.S. listings for capital raising and liquidity events, indicating ongoing discussions with various companies in South Korea and the broader region [3] Company Overview - HeartCore Enterprises is headquartered in Tokyo and specializes in enterprise software and consulting services, offering SaaS solutions and data analytics services to enhance customer experiences [4] - The company's customer experience management platform includes various systems for marketing, sales, service, and content management, along with digital transformation services [4] - HeartCore's Go IPO consulting services assist Japanese companies in going public in the U.S., positioning the company to capture new opportunities in the Asia-Pacific market [4]

Financial Performance - For the three months ended September 30, 2024, the company generated revenues of $17,850,411, a significant increase from $4,688,908 in the same period of 2023, representing a growth of approximately 280%[155] - The net income for the three months ended September 30, 2024, was $10,816,930, compared to a net loss of $2,541,133 in the same period of 2023, indicating a turnaround in financial performance[155] - For the nine months ended September 30, 2024, the company reported revenues of $26,963,531, up from $18,518,431 in 2023, reflecting a year-over-year increase of approximately 46%[156] - The net income for the nine months ended September 30, 2024, was $7,127,810, compared to a net loss of $1,755,942 in the same period of 2023, showcasing improved profitability[156] - Net income was $10,816,930 for the three months ended September 30, 2024, representing a $13,358,063, or 525.7%, increase from a net loss of $2,541,133 for the same period in 2023[170] - Net income attributable to HeartCore Enterprises, Inc. was $11,057,806 for the three months ended September 30, 2024, representing a $13,365,026, or 579.3%, increase from a net loss of $2,307,220 for the same period in 2023[172] - Total revenues increased by $8,445,100, or 45.6%, to $26,963,531 for the nine months ended September 30, 2024, from $18,518,431 for the same period in 2023[176] - Net income for the nine months ended September 30, 2024, was $7,127,810, representing an increase of $8,883,752, or 505.9%, from a loss of $1,755,942 in the prior year[189] - Net income attributable to HeartCore Enterprises, Inc. was $7,773,356 for the nine months ended September 30, 2024, a $9,110,087, or 681.5%, increase from a net loss of $1,336,731 in the same period of 2023[192] Revenue and Profitability Metrics - Total revenues increased by $13,161,503, or 280.7%, to $17,850,411 for the three months ended September 30, 2024, from $4,688,908 for the same period in 2023[159] - Gross profit increased by $13,588,720, or 1,639.8%, to $14,417,387 for the three months ended September 30, 2024, from $828,667 for the same period in 2023[161] - Gross profit margin increased by 63.1% to 80.8% for the three months ended September 30, 2024, from 17.7% for the same period in 2023[162] - Gross profit rose by $9,285,271, or 116.5%, to $17,255,457 for the nine months ended September 30, 2024, compared to $7,970,186 in the prior year[178] - Gross profit margin increased by 21.0% to 64.0% for the nine months ended September 30, 2024, from 43.0% in the same period of 2023[179] Expenses - Cost of revenues decreased by $427,217, or 11.1%, to $3,433,024 for the three months ended September 30, 2024, from $3,860,241 for the same period in 2023[160] - Selling expenses decreased by $30,933, or 11.3%, to $243,110 for the three months ended September 30, 2024, from $274,043 for the same period in 2023[163] - General and administrative expenses decreased by $205,581, or 9.5%, to $1,966,717 for the three months ended September 30, 2024, from $2,172,298 for the same period in 2023[165] - Research and development expenses decreased by $62,542, or 36.8%, to $107,529 for the three months ended September 30, 2024, from $170,071 for the same period in 2023[167] - Selling expenses decreased by $688,522, or 51.7%, to $642,225 for the nine months ended September 30, 2024, from $1,330,747 in the prior year[180] - General and administrative expenses decreased by $909,963, or 12.5%, to $6,395,429 for the nine months ended September 30, 2024, from $7,305,392 in the same period of 2023[183] Cash Flow and Financial Position - Net cash flows used in operating activities amounted to $3,499,514 for the nine months ended September 30, 2024[195] - Net cash flows provided by investing activities were $5,317,323 for the nine months ended September 30, 2024, primarily from the sale of warrants[196] - Cash and cash equivalents increased to $1,232,117 as of September 30, 2024, from $1,012,479 as of December 31, 2023[193] - As of September 30, 2024, total lease liabilities amount to $2,311,922, with $69,380 attributed to finance leases and $2,242,542 to operating leases[198] - Future minimum principal payments for long-term debts total $1,858,072, with $99,325 due in the remaining of 2024 and $434,474 due in 2025[199] - The Company has no off-balance sheet arrangements as of September 30, 2024[200] Revenue Recognition Policies - Revenues recognized during the nine months ended September 30, 2024, from deferred revenue amounted to approximately $1.8 million, compared to $1.5 million for the same period in 2023[212] - The Company recognizes revenues from on-premise software licenses upfront when made available to customers, with bundled maintenance and support services allocated based on standalone selling prices[204] - Subscription fees from Software as a Service (SaaS) are recognized over time on a ratable basis, typically for contracts of one year or less[206] - Revenues from maintenance and support services are recognized over time as the services are performed[205] - Customized software development revenues are recognized based on billable hours, with contracts generally not exceeding one year[209] - Consulting service revenues are recognized over the contract period, with cash and noncash considerations included in the transaction price[210] - The Company records reductions to revenues for estimated customer returns and allowances, based on historical rates and specific identification of outstanding returns[211] Compliance and Corporate Actions - The company entered into consulting agreements with 14 companies for IPO support, with consulting fees ranging from $380,000 to $900,000 per company[139] - On October 26, 2023, the company received a notice of noncompliance with Nasdaq's minimum bid price requirement of $1.00 per share[149] - The company regained compliance with the Nasdaq minimum bid price requirement on November 5, 2024, after demonstrating a closing bid price of at least $1.00 per share[155] - The company completed the sale of warrants for $9,000,000 in cash, recording a loss of $3,970,628 from this transaction[146]