HeartCore Enterprises, Inc. (HTCR) Income Statement
HTCR 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsHTCR revenue and net income
Where HTCR's revenue goes
2025Each bar shows an amount and its share of revenue. HTCR kept 64.6% of revenue as net income.
HTCR profit margins
HTCR growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | −70.5% | +0.6% | −0.1% | — |
| Gross profit | −82.3% | −2.0% | −4.7% | — |
| Operating income | −4,693.8% | — | — | — |
| Net income | — | — | +107.4% | — |
| EPS (diluted) | −85.4% | — | +37.3% | — |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
HTCR quarterly EPS vs estimates
HeartCore Enterprises beat the analyst EPS estimate in 4 of the last 7 quarters. Next report: November 17, 2026.
HTCR income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|
| Revenue | $9.0M | $30.4M | $21.8M | $8.8M | $10.8M | $9.0M | $7.2M |
| Cost of revenue | $5.8M | $12.6M | $13.8M | $5.5M | $5.6M | $5.0M | $4.5M |
| Gross profit | $3.2M | $17.8M | $8.1M | $3.4M | $5.2M | $4.0M | $2.7M |
| Research & development | $0 | $729,584 | $1.0M | $641,025 | $510,740 | $311,049 | $332,701 |
| Sales, general & admin | $6.1M | $9.1M | $10.5M | $9.4M | $4.4M | $3.3M | $3.4M |
| Total operating expenses | $6.1M | $17.8M | $12.2M | $10.0M | $5.1M | $3.8M | $3.9M |
| Operating income | −$3.0M | $64,765 | −$4.1M | −$6.7M | $59,018 | $258,705 | −$1.3M |
| Interest income | $5,381 | $18,835 | $99,340 | $66,963 | $6,955 | $3,711 | $12 |
| Interest expense | $87,660 | $144,033 | $162,968 | $41,800 | $43,240 | $50,199 | $48,689 |
| Income before taxes | −$4.1M | −$5.3M | −$5.0M | −$6.7M | $14,901 | $227,281 | −$1.3M |
| Income taxes | $44,900 | −$136,822 | −$133,664 | −$5,918 | $341,945 | $72,217 | −$56,057 |
| Net income | $5.8M | −$1.5M | −$4.2M | −$6.7M | −$338,156 | $150,955 | −$1.2M |
| EBITDA | −$4.0M | −$4.5M | −$4.2M | −$6.6M | $163,535 | $399,685 | −$1.1M |
| EPS (diluted) | $0.78 | $5.35 | −$1.14 | −$0.39 | $0.02 | $0.16 | — |
| Gross margin | 35.1% | 58.6% | 36.9% | 38.0% | 47.9% | 44.5% | 36.9% |
| Operating margin | −33.2% | 0.2% | −18.9% | −75.9% | 0.5% | 2.9% | −17.6% |
| Net margin | 64.6% | −4.9% | −19.2% | −75.7% | −3.1% | 1.7% | −17.0% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $321,428 | $1.2M | $1.9M | $3.0M | $4.7M | $3.6M | $3.4M | $17.9M | $4.1M | $5.0M | $3.3M | $4.7M |
| Cost of revenue | $391,643 | $1.2M | $1.4M | $1.5M | $2.5M | $2.5M | $2.9M | $3.4M | $3.3M | $3.0M | $3.2M | $3.9M |
| Gross profit | −$70,215 | $74,045 | $552,389 | $1.5M | $2.2M | $1.1M | $572,413 | $14.4M | $805,881 | $2.0M | $97,228 | $828,667 |
| Research & development | — | — | $570,748 | $0 | $161,481 | $123,893 | $421,653 | $107,529 | $111,268 | $89,134 | $729,838 | $170,071 |
| Sales, general & admin | $753,800 | $1.6M | $1.7M | $1.5M | $1.9M | $2.2M | $2.1M | $2.2M | $2.2M | $2.6M | $1.9M | $2.4M |
| Total operating expenses | $753,800 | $1.6M | $1.7M | $1.5M | $2.1M | $2.3M | $10.4M | $2.3M | $2.3M | $2.7M | $6.4M | $2.6M |
| Operating income | −$824,015 | −$1.5M | −$1.1M | −$11,147 | $107,465 | −$1.2M | −$9.8M | $12.1M | −$1.5M | −$682,960 | −$3.1M | −$1.8M |
| Interest income | $23 | $582 | $856 | $1,046 | $1,841 | $3,020 | $3,278 | $10,933 | $2,030 | $2,594 | $5,991 | $14,363 |
| Interest expense | $3,054 | $16,625 | $4,779 | $21,083 | $32,665 | $29,133 | $38,939 | $31,393 | $37,040 | $36,661 | $37,895 | $42,619 |
| Income before taxes | −$1.5M | −$2.0M | −$1.3M | −$133,749 | $1.1M | −$3.1M | −$12.6M | $11.0M | −$2.3M | −$1.6M | −$3.3M | −$2.5M |
| Income taxes | $20,872 | $17,469 | −$9,986 | $3,373 | −$3,562 | $56,636 | −$209,767 | $225,275 | −$72,163 | −$80,167 | — | $19,413 |
| Net income | −$2.0M | −$1.9M | $7.3M | $434,072 | $1.1M | −$3.1M | −$9.3M | $11.1M | −$2.0M | −$1.3M | −$2.9M | −$2.3M |
| EBITDA | −$113,970 | −$1.9M | −$1.3M | −$104,401 | $1.1M | −$3.0M | −$12.3M | $11.3M | −$2.1M | −$1.3M | — | −$2.3M |
| EPS (diluted) | −$1.12 | $0.29 | $0.00 | $0.04 | $0.80 | −$0.06 | −$0.45 | $10.60 | −$2.00 | −$2.80 | −$0.14 | −$2.20 |
| Gross margin | −21.8% | 5.9% | 28.8% | 49.1% | 46.7% | 30.7% | 16.6% | 80.8% | 19.8% | 40.3% | 2.9% | 17.7% |
| Operating margin | −256.4% | −123.7% | −58.2% | −0.4% | 2.3% | −34.7% | −285.9% | 67.8% | −37.1% | −13.5% | −92.8% | −38.1% |
| Net margin | −629.4% | −150.2% | 383.5% | 14.5% | 23.2% | −86.1% | −268.7% | 61.9% | −48.0% | −26.4% | −85.7% | −49.2% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in HTCR's financial statements (latest annual report filed March 31, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
HTCR financial results
In fiscal year 2025 (ended December 31, 2025), HeartCore Enterprises reported revenue of $9.0 million, down 70.5% from the year before. It had net income of $5.8 million, a net profit margin of 64.6%. Diluted earnings per share came to $0.78. Over five years revenue grew at an average rate of −0.1% a year.
See the HTCR stock overview for the latest quote and news, or the HTCR chart for price history and technical indicators.
HTCR income statement FAQ
What is HeartCore Enterprises's annual revenue?
HeartCore Enterprises reported total revenue of $9.0 million for fiscal year 2025, which ended on December 31, 2025. That was down 70.5% from $30.4 million the previous year.
Is HeartCore Enterprises profitable?
Yes. HeartCore Enterprises reported net income of $5.8 million in fiscal 2025, a net profit margin of 64.6%; its operating margin was −33.2%.
What is HeartCore Enterprises's gross margin?
HeartCore Enterprises's gross margin was 35.1% in fiscal 2025: for every $100 of revenue, HeartCore Enterprises kept $35 after the direct cost of its products and services.
How fast is HeartCore Enterprises growing?
Revenue grew −0.1% a year on average over the last five fiscal years, from $9.0 million to $9.0 million.
What are HeartCore Enterprises's earnings per share?
HeartCore Enterprises earned $0.78 per diluted share in fiscal 2025, compared with $5.35 a year earlier.
When will HeartCore Enterprises report its next earnings?
HeartCore Enterprises is expected to report results for the quarter ending September 30, 2026 on November 17, 2026.
When does HeartCore Enterprises's fiscal year end?
HeartCore Enterprises's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on March 31, 2026.