HeartCore Reports Financial Results for Third Quarter and Nine Months Ended September 30, 2025

Financial Performance Overview: HeartCore Enterprises reported a significant decline in revenues for Q3 2025, with $3.0 million compared to $16.2 million in the same period last year, primarily due to the absence of a large GO IPO deal that contributed $13 million in the previous year.

Strategic Business Shift: The company divested its software business subsidiary, HeartCore Japan, to focus entirely on its Go IPO consulting services, which management believes will enhance long-term profitability and operational efficiency.

Client Engagement and Growth: HeartCore signed its 16th Go IPO contract and successfully launched a client on the Nasdaq, with ongoing discussions for potential clients in Korea and strong demand anticipated from Japan.

Financial Challenges: The company reported a net loss of $1.7 million for the first nine months of 2025, a stark contrast to a net income of $7.1 million in the same period last year, highlighting the impact of reduced revenues and operational adjustments.

Extension Granted: HeartCore Enterprises has received a 180-day extension from Nasdaq to comply with the $1.00 minimum bid price requirement, allowing until May 1, 2026, to meet this standard.

Compliance Conditions: If HeartCore's stock price reaches $1.00 for 10 consecutive business days during the extension, Nasdaq will confirm compliance, but there is no guarantee of achieving this.

Company Overview: HeartCore is a Tokyo-based IPO consulting firm that assists Japanese companies in navigating the U.S. public markets through its Go IPO consulting services.

Forward-Looking Statements: The company includes cautionary notes regarding forward-looking statements, highlighting risks and uncertainties that may affect actual results compared to expectations.