HeartCore Reports Full Year 2023 EPS $(0.21) Vs $(0.37) YoY; Revenue $21.85M Vs $8.82M YoY
Portfolio Pulse from Benzinga Newsdesk
HeartCore Enterprises, Inc. (HTCR) reported a significant improvement in its full-year 2023 financial results, with EPS improving to $(0.21) from $(0.37) YoY and revenue soaring to $21.85M from $8.82M. The growth was driven by increased revenues from Go IPO consulting services, received warrants from customers, and customized software development and services, particularly from Sigmaways and its subsidiaries. Despite the revenue growth, the company's net loss was $4.9M, an improvement from the previous year's $6.7M loss. Operating expenses rose to $12.2M due to higher general and administrative and R&D expenses. Cash and cash equivalents significantly decreased to $1.0M from $7.2M.
April 08, 2024 | 8:16 pm
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HeartCore Enterprises, Inc. (HTCR) reported a significant improvement in its full-year 2023 financial results, with EPS improving to $(0.21) from $(0.37) YoY and revenue soaring to $21.85M from $8.82M.
The significant improvement in HTCR's financial performance, particularly the substantial increase in revenue and the reduction in net loss, is likely to be viewed positively by investors. The growth in revenue from Go IPO consulting services and software development indicates a successful expansion of the company's business operations. However, the decrease in cash reserves could raise concerns about the company's liquidity and financial stability in the short term.
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