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MARKETS / NASDAQ / Technology / Data processing / HTCR
NASDAQ · SERVICES-COMPUTER PROCESSING & DATA PREPARATION

HeartCore Enterprises, Inc. HTCR

6 fiscal years on record · USD · FY2025 reported · SEC filings only
$9.0M
▼ 60.5% YoY
$5.8M

Slide the table for earlier years · "·" marks a figure not available in our data for that year.

In brief

What this company does

In 2022, HeartCore USA started the GO IPO business, which supports Japanese companies listing on The Nasdaq Stock Market (“Nasdaq”) and the New York Stock Exchange (“NYSE”) in the United States. Prior to November 2025, we were also a software development company based in Tokyo, Japan. In 2025, we made the strategic decision to sell our software business assets in Japan and to concentrate our efforts on our GO IPO consulting business.

Written from the business description in HeartCore Enterprises, Inc.'s annual report to the U.S. Securities and Exchange Commission, filed 31 March 2026. Every sentence was checked against that document before publication.

Growth

USD 9.0M
Revenue, FY2025 · full 6-year series below
Revenue $M Net income $M
FY2025 · Revenue 9.0 · Net income 5.8
10.0M20.0M-2.5M-5.0M
202020232025
Compound annual growth
+0.6%
−0.1%
+107.4%
+85.6%
3 yrs
5 yrs
10 yrs
15 yrs

Revenue compounded at −0.1% a year over the five years to FY2025 — but profit grew faster: net income at +107.4%, earnings per share at +85.6%.

The share count rose from 0.02B to 0.03B over the period.

Compound annual rates per period — left blank where that exact year isn't on file, the series crosses a loss, or (per-share rows) a split falls inside the window.

Profitability

61 cents
of every revenue dollar became profit
Operating margin Net margin
FY2025 · Operating -34.8% · Net 61.2%
20%40%60%-20%-40%-60%
202020222025
ROE
FY2025 · ROE 86.3%
50%-50%
202020222025
Three returns, three denominators.
Gross margin35.1%
Operating margin-34.8%
Net margin61.2%
EBITDAUSD -3.1M

Each USD of equity produced 86 cents of profit this year.

Cash & shareholders

USD 3.3M
returned in FY2025 · dividends + net buybacks
Free cash flow $M
FY2024 · FCF -3.9
0.3M0.6M-2.0M-4.0M
202020222025
Net buybacks $M Dividends $M
FY2025 · Dividends 3.3 · Net buybacks ·
2M3M
202220242025
Dividends paidUSD 3.3M
Net buybacks·
Share of profit57.0%
Consecutive raises·

USD 3.3M in dividends — 57% of the year's profit went back to shareholders.

Total assetsUSD 13.1M
EquityUSD 8.8M
CashUSD 2.0M
Gross debtUSD 498,974.00
Net debtUSD -1.5M
Current ratio1.58×

The company holds more cash than debt.

The 6-year record

6 fiscal years
Every figure from documents filed with the SEC · USD
row low → row highnegative—not applicable◌not available in our data
HTCR, 6-year financial record
Metric 202520242023202220212020
Revenue $B0.00.00.00.00.00.0
Operating income $B−0.0−0.0−0.0−0.00.00.0
EBITDA $B−0.00.0−0.0−0.00.00.0
Income tax $B0.0−0.0−0.0−0.00.00.0
Net income $B0.0−0.0−0.0−0.0−0.00.0
Free cash flow $B◌−0.0−0.0−0.00.00.0
EPS, diluted $0.22−0.07−0.21−0.37−0.020.01
Dividend / sh $◌◌◌◌◌◌
Payout %57−56————
ROE %86.3−30.2−84.0———
Shares out B0.030.020.020.020.020.02

Slide the table for earlier years. "—" not applicable · "◌" not available in our data.

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Provenance

Company facts, as filed

How we verify · 0 failures in 30 reconciliationsAUDITED

Reconciled in 6 of the 6 fiscal years we could check. 26 checks were skipped: the balance sheet is not tagged before 2020. 13 checks were skipped: EPS is not tagged before 2020. 13 checks were skipped: revenue is not tagged before 2020.

EPS recomputationBalance-sheet identityGross profitBalance-sheet liquidityCurrency consistency0 failures
ActivityServices-Computer Processing & Data Preparation
Listed onNASDAQ
Incorporated inDelaware
Fiscal year endsDecember 31
SEC categoryemerging growth company
Data on record since2020

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