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HeartSciences (HSCS) Financials

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$2.80 +0.29 (+11.55%)
As of 08/21/2026 04:00 PM Eastern
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Annual Income Statements for HeartSciences

Annual Income Statements for HeartSciences

This table shows HeartSciences' income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric 2022 2023 2024 2025 2026
Period end date 4/30/2022 4/30/2023 4/30/2024 4/30/2025 4/30/2026
Net Income / (Loss) Attributable to Common Shareholders		 -4.83 -6.35 -6.61 -8.77 -9.14
Consolidated Net Income / (Loss)		 -4.83 -6.35 -6.61 -8.77 -9.14
Net Income / (Loss) Continuing Operations		 -4.83 -6.35 -6.61 -8.77 -9.14
Total Pre-Tax Income 		-4.83 -6.35 -6.61 -8.77 -9.14
Total Operating Income		 -4.71 -6.11 -6.31 -8.35 -8.41
Total Gross Profit		 0.01 0.00 0.01 0.00 0.00
Total Revenue		 0.01 0.01 0.02 0.00 0.00
Operating Revenue		 0.01 0.01 0.02 0.00 0.00
Total Cost of Revenue		 0.01 0.00 0.01 0.00 0.00
Operating Cost of Revenue		 0.01 0.00 0.01 0.00 0.00
Total Operating Expenses		 4.72 6.12 6.32 8.36 8.42
Selling, General & Admin Expense		 1.71 3.65 3.44 3.97 5.58
Research & Development Expense		 3.00 2.46 2.88 4.39 2.84
Total Other Income / (Expense), net		 -0.12 -0.24 -0.30 -0.41 -0.73
Interest Expense		 0.12 0.24 0.35 0.50 0.75
Other Income / (Expense), net		 0.00 0.00 0.05 0.09 0.02
Basic Earnings per Share		 ($1.45) ($80.00) ($18.74) ($9.34) ($3.48)
Weighted Average Basic Shares Outstanding		 3.32M 79.51K 352.52K 938.26K 2.63M
Weighted Average Diluted Shares Outstanding		 3.32M 79.51K 352.52K 1.93M 3.90M
Weighted Average Basic & Diluted Shares Outstanding		 - 10.36M 855.97K 1.93M 3.90M
Cash Dividends to Common per Share		 - - - $0.00 $0.00

Quarterly Income Statements for HeartSciences

This table shows HeartSciences' income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q3 2026
Period end date 10/31/2023 1/31/2024 4/30/2024 7/31/2024 10/31/2025 1/31/2025 4/30/2025 1/31/2026
Net Income / (Loss) Attributable to Common Shareholders		 -1.75 -1.64 -1.85 -2.05 -2.35 -2.54 -1.82 -1.99
Consolidated Net Income / (Loss)		 -1.75 -1.64 -1.85 -2.05 -2.35 -2.54 -1.82 -1.99
Net Income / (Loss) Continuing Operations		 -1.75 -1.64 -1.85 -2.05 -2.35 -2.54 -1.82 -1.99
Total Pre-Tax Income 		-1.75 -1.64 -1.85 -2.05 -2.35 -2.54 -1.82 -1.99
Total Operating Income		 -1.57 -1.53 -1.88 -2.08 -2.07 -2.37 -2.03 -1.93
Total Gross Profit		 0.00 0.01 - 0.00 0.00 0.00 -0.00 0.00
Total Revenue		 0.00 0.01 - 0.00 0.00 0.00 0.00 0.00
Operating Revenue		 0.00 0.01 - 0.00 0.00 0.00 0.00 0.00
Total Cost of Revenue		 0.00 0.00 - 0.00 0.00 0.00 0.00 0.00
Operating Cost of Revenue		 0.00 0.00 - 0.00 0.00 0.00 0.00 0.00
Total Operating Expenses		 1.57 1.54 1.88 2.08 2.07 2.37 2.03 1.93
Selling, General & Admin Expense		 0.82 1.03 0.83 0.85 1.35 1.34 0.40 1.29
Research & Development Expense		 0.76 0.51 1.05 1.22 0.73 1.03 1.63 0.64
Total Other Income / (Expense), net		 -0.18 -0.12 0.03 0.02 -0.28 -0.16 0.21 -0.06
Interest Expense		 0.18 0.12 0.02 0.02 0.28 0.18 -0.14 0.06
Other Income / (Expense), net		 0.00 0.00 0.05 0.05 0.00 0.01 0.07 0.01
Basic Earnings per Share		 ($15.92) ($3.01) ($5.24) ($2.64) ($0.85) ($2.57) ($1.94) ($0.63)
Weighted Average Basic Shares Outstanding		 109.84K 546.67K 352.52K 777.75K 2.78M 986.06K 938.26K 3.16M
Weighted Average Diluted Shares Outstanding		 109.84K 546.67K 352.52K 777.75K 2.78M 1.08M 1.93M 3.18M
Weighted Average Basic & Diluted Shares Outstanding		 63.61M 65.56M 855.97K 911.32K 3.18M 1.08M 1.93M 3.18M

Annual Cash Flow Statements for HeartSciences

This table details how cash moves in and out of HeartSciences' business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric 2022 2023 2024 2025 2026
Period end date 4/30/2022 4/30/2023 4/30/2024 4/30/2025 4/30/2026
Net Change in Cash & Equivalents		 0.69 0.74 4.15 -4.71 0.56
Net Cash From Operating Activities		 -3.64 -5.77 -6.07 -7.41 -7.43
Net Cash From Continuing Operating Activities		 -3.15 -5.77 -6.07 -7.41 -7.43
Net Income / (Loss) Continuing Operations		 -4.83 -6.35 -6.61 -8.77 -9.14
Consolidated Net Income / (Loss)		 -4.83 -6.35 -6.61 -8.77 -9.14
Depreciation Expense		 0.03 0.03 0.03 0.04 0.03
Amortization Expense		 0.16 0.06 0.17 0.38 0.60
Non-Cash Adjustments To Reconcile Net Income		 -0.12 0.32 0.81 0.32 1.33
Changes in Operating Assets and Liabilities, net		 1.62 0.17 -0.47 0.62 -0.25
Net Cash From Investing Activities		 -0.00 -0.02 -0.13 -0.03 -0.04
Net Cash From Continuing Investing Activities		 -0.00 -0.02 -0.13 -0.03 -0.04
Purchase of Property, Plant & Equipment		 -0.00 -0.02 -0.06 -0.00 -0.00
Acquisitions		 - 0.00 -0.06 -0.03 -0.04
Net Cash From Financing Activities		 3.84 6.53 10 2.73 8.03
Net Cash From Continuing Financing Activities		 3.84 6.53 10 2.73 8.03
Repayment of Debt		 -0.89 -0.40 -0.29 0.00 -0.69
Issuance of Debt		 4.23 0.00 - 1.85 3.00
Issuance of Preferred Equity		 - - - 0.00 5.55
Issuance of Common Equity		 0.00 6.78 10 1.15 0.17
Other Financing Activities, net		 0.50 0.15 0.33 -0.26 0.00

Quarterly Cash Flow Statements for HeartSciences

This table details how cash moves in and out of HeartSciences' business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q4 2026
Period end date 10/31/2023 1/31/2024 4/30/2024 7/31/2024 10/31/2024 1/31/2025 4/30/2025 4/30/2026
Net Change in Cash & Equivalents		 -0.48 6.98 -1.27 -1.47 -0.29 -1.46 -1.50 -1.74
Net Cash From Operating Activities		 -0.99 -2.10 -1.58 -2.02 -2.18 -1.62 -1.59 -1.68
Net Cash From Continuing Operating Activities		 -0.99 -2.10 -1.58 -2.02 -2.18 -1.62 -1.59 -1.68
Net Income / (Loss) Continuing Operations		 -1.75 -1.64 -1.85 -2.05 -2.08 -2.54 -2.09 -2.75
Consolidated Net Income / (Loss)		 -1.75 -1.64 -1.85 -2.05 -2.08 -2.54 -2.09 -2.75
Depreciation Expense		 0.01 0.00 0.01 0.01 0.01 0.01 0.01 0.01
Amortization Expense		 0.09 0.04 0.02 0.02 0.09 0.13 0.13 0.13
Non-Cash Adjustments To Reconcile Net Income		 0.24 0.18 0.16 0.04 0.02 0.03 0.23 0.78
Changes in Operating Assets and Liabilities, net		 0.43 -0.68 0.08 -0.04 -0.22 0.75 0.13 0.16
Net Cash From Financing Activities		 0.51 9.13 0.38 0.55 1.90 0.18 0.10 -0.06
Net Cash From Continuing Financing Activities		 0.51 9.13 0.38 0.55 1.90 0.18 0.10 -0.06
Repayment of Debt		 -0.10 -0.05 -0.07 0.00 - - - -0.24
Other Financing Activities, net		 - - - -0.05 1.78 -1.92 -0.07 0.18

Annual Balance Sheets for HeartSciences

This table presents HeartSciences' assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric 2022 2023 2024 2025 2026
Period end date 4/30/2022 4/30/2023 4/30/2024 4/30/2025 6/30/2026
Total Assets		 2.09 3.29 9.50 4.22 5.26
Total Current Assets		 1.93 2.70 7.35 2.17 2.58
Cash & Equivalents		 0.92 1.66 5.81 1.10 1.66
Accounts Receivable		 0.00 0.00 0.00 0.00 0.00
Inventories, net		 0.67 0.68 0.63 0.65 0.66
Prepaid Expenses		 0.05 0.14 0.18 0.09 0.08
Other Current Assets		 0.29 0.22 0.73 0.33 0.19
Plant, Property, & Equipment, net		 0.07 0.06 0.10 0.06 0.04
Total Noncurrent Assets		 0.09 0.53 2.05 1.99 2.64
Intangible Assets		 - 0.00 1.59 1.62 2.37
Other Noncurrent Operating Assets		 0.09 0.53 0.46 0.37 0.27
Total Liabilities & Shareholders' Equity		 2.09 3.29 9.50 4.22 5.26
Total Liabilities		 8.15 3.06 2.19 4.02 5.04
Total Current Liabilities		 3.47 1.83 1.75 3.70 4.86
Short-Term Debt		 1.63 0.50 0.50 2.55 3.62
Accounts Payable		 0.69 0.63 0.45 0.32 0.32
Accrued Expenses		 1.05 0.62 0.40 0.51 0.43
Other Current Liabilities		 0.09 0.08 0.14 0.15 0.16
Other Current Nonoperating Liabilities		 - - 0.27 0.18 0.33
Total Noncurrent Liabilities		 4.67 1.22 0.43 0.31 0.18
Capital Lease Obligations		 0.00 - - - 0.18
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 -6.06 0.23 7.32 0.21 0.23
Total Preferred & Common Equity		 -6.06 0.23 7.32 0.21 0.23
Preferred Stock		 0.00 0.00 0.00 0.00 0.00
Total Common Equity		 -6.06 0.23 7.32 0.20 0.23
Common Stock		 48 61 75 76 85
Retained Earnings		 -54 -61 -67 -76 -85

Quarterly Balance Sheets for HeartSciences

This table presents HeartSciences' assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric Q2 2024 Q3 2024 Q1 2025 Q2 2025 Q3 2025 Q3 2026
Period end date 10/31/2023 1/31/2024 7/31/2025 10/31/2025 1/31/2025 1/31/2026
Total Assets		 2.37 11 6.44 6.00 5.70 7.55
Total Current Assets		 1.81 8.69 4.42 3.79 3.63 5.10
Cash & Equivalents		 0.10 7.08 2.79 1.95 2.60 3.40
Accounts Receivable		 0.00 0.01 0.00 0.00 - 0.00
Inventories, net		 0.67 0.67 0.65 0.66 0.65 0.66
Prepaid Expenses		 0.37 0.23 0.42 0.22 0.20 0.18
Other Current Assets		 0.66 0.70 0.56 0.96 0.18 0.86
Plant, Property, & Equipment, net		 0.05 0.06 0.06 0.05 0.07 0.05
Total Noncurrent Assets		 0.50 2.05 1.96 2.15 2.00 2.41
Intangible Assets		 - 1.57 1.62 1.83 1.61 2.11
Other Noncurrent Operating Assets		 0.50 0.48 0.35 0.32 0.40 0.30
Total Liabilities & Shareholders' Equity		 2.37 11 6.44 6.00 5.70 7.55
Total Liabilities		 4.02 2.17 3.30 1.81 3.92 4.90
Total Current Liabilities		 3.53 1.71 3.01 1.57 3.57 4.27
Short-Term Debt		 1.42 0.50 1.54 0.50 2.53 3.10
Accounts Payable		 1.09 0.42 0.28 0.32 0.41 0.41
Accrued Expenses		 0.77 0.58 0.60 0.31 0.32 0.34
Other Current Liabilities		 0.25 0.21 0.34 0.28 0.22 0.22
Other Current Nonoperating Liabilities		 - - 0.25 0.16 0.11 0.20
Total Noncurrent Liabilities		 0.49 0.46 0.28 0.25 0.35 0.63
Long-Term Debt		 0.00 0.00 - - - 0.42
Other Noncurrent Operating Liabilities		 0.00 0.00 - - - 0.21
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 -1.65 8.63 3.14 4.18 1.79 2.65
Total Preferred & Common Equity		 -1.65 8.63 3.14 4.18 1.79 2.65
Preferred Stock		 0.00 0.00 0.00 0.00 0.00 0.00
Total Common Equity		 -1.65 8.63 3.14 4.18 1.79 2.65
Common Stock		 62 74 81 85 76 85
Retained Earnings		 -64 -66 -78 -81 -74 -83

Annual Metrics And Ratios for HeartSciences

This table displays calculated financial ratios and metrics derived from HeartSciences' official financial filings.

Metric 2022 2023 2024 2025 2026
Period end date 4/30/2022 4/30/2023 4/30/2024 4/30/2025 4/30/2026
DEI Shares Outstanding		 0.00 9,739,930.00 65,561,630.00 1,080,946.00 3,184,700.00
DEI Adjusted Shares Outstanding		 0.00 97,399.00 655,616.00 1,080,946.00 3,184,700.00
DEI Earnings Per Adjusted Shares Outstanding		 0.00 -65.24 -10.07 -8.11 -2.87
Growth Metrics		 - - - - -
Revenue Growth		 0.00% -64.17% 261.17% -76.61% -0.71%
EBITDA Growth		 0.00% -33.14% -0.49% -29.72% 1.14%
EBIT Growth		 0.00% -29.83% -2.29% -32.21% -1.50%
NOPAT Growth		 0.00% -29.80% -3.15% -32.46% -0.72%
Net Income Growth		 0.00% -31.61% -3.95% -32.70% -4.30%
EPS Growth		 0.00% -31.61% -3.95% 0.00% 0.00%
Operating Cash Flow Growth		 0.00% -58.43% -5.14% -22.12% -0.19%
Free Cash Flow Firm Growth		 0.00% 0.00% -49.90% 24.12% -24.87%
Invested Capital Growth		 0.00% 52.35% 629.99% -19.43% 46.79%
Revenue Q/Q Growth		 0.00% -44.62% 0.00% 0.72% 0.00%
EBITDA Q/Q Growth		 0.00% 4.07% -3.48% -0.37% 0.00%
EBIT Q/Q Growth		 0.00% 5.82% -3.77% -1.73% 0.00%
NOPAT Q/Q Growth		 0.00% 5.84% -4.67% -1.88% 0.00%
Net Income Q/Q Growth		 0.00% 6.21% -3.35% 0.26% 0.00%
EPS Q/Q Growth		 0.00% 6.21% -3.35% 0.00% 0.00%
Operating Cash Flow Q/Q Growth		 0.00% -13.11% 4.48% -0.19% -1.17%
Free Cash Flow Firm Q/Q Growth		 0.00% 0.00% 1.69% -0.27% 0.00%
Invested Capital Q/Q Growth		 0.00% 15.64% -9.52% -15.36% 0.00%
Profitability Metrics		 - - - - -
Gross Margin		 45.11% 45.71% 67.31% 56.78% 59.06%
EBITDA Margin		 -31,472.59% -116,947.96% -32,539.78% -180,481.61% -179,706.74%
Operating Margin		 -32,765.60% -118,698.33% -33,901.99% -192,013.13% -194,787.38%
EBIT Margin		 -32,747.80% -118,662.45% -33,608.22% -189,994.85% -194,230.93%
Profit (Net Income) Margin		 -33,592.57% -123,384.27% -35,511.87% -201,499.52% -211,666.47%
Tax Burden Percent		 100.00% 100.00% 100.00% 100.00% 100.00%
Interest Burden Percent		 102.58% 103.98% 105.66% 106.06% 108.98%
Effective Tax Rate		 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Invested Capital (ROIC)		 0.00% 0.00% -477.57% -284.22% -259.96%
ROIC Less NNEP Spread (ROIC-NNEP)		 0.00% 0.00% -400.67% -112.95% -418.66%
Return on Net Nonoperating Assets (RNNOA)		 0.00% 0.00% 302.54% 51.17% -3,979.94%
Return on Equity (ROE)		 79.73% 218.16% -175.02% -233.04% -4,239.90%
Cash Return on Invested Capital (CROIC)		 0.00% 0.00% -312.60% -262.70% -297.88%
Operating Return on Assets (OROA)		 -225.27% -227.32% -97.75% -120.42% -176.88%
Return on Assets (ROA)		 -231.08% -236.36% -103.28% -127.72% -192.75%
Return on Common Equity (ROCE)		 79.74% 218.20% -175.00% -233.02% -4,227.18%
Return on Equity Simple (ROE_SIMPLE)		 79.73% -2,756.06% -90.27% 0.00% 0.00%
Net Operating Profit after Tax (NOPAT)		 -3.30 -4.28 -4.41 -5.85 -5.89
NOPAT Margin		 -22,935.92% -83,088.83% -23,731.39% -134,409.19% -136,351.17%
Net Nonoperating Expense Percent (NNEP)		 29.72% 92.37% -76.89% -171.26% 158.70%
Return On Investment Capital (ROIC_SIMPLE)		 - - -56.47% -212.12% -146.36%
Cost of Revenue to Revenue		 54.89% 54.29% 32.69% 43.22% 40.94%
SG&A Expenses to Revenue		 11,927.57% 70,960.19% 18,493.20% 91,239.91% 129,113.36%
R&D to Revenue		 20,883.13% 47,783.84% 15,476.10% 100,830.00% 65,733.09%
Operating Expenses to Revenue		 32,810.70% 118,744.04% 33,969.30% 192,069.91% 194,846.45%
Earnings before Interest and Taxes (EBIT)		 -4.71 -6.11 -6.25 -8.26 -8.39
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 -4.52 -6.02 -6.05 -7.85 -7.76
Valuation Ratios		 - - - - -
Price to Book Value (P/BV)		 0.00 37.55 0.83 18.50 27.58
Price to Tangible Book Value (P/TBV)		 0.00 37.55 1.06 0.00 0.00
Price to Revenue (P/Rev)		 443.54 1,678.48 325.69 870.97 1,437.87
Price to Earnings (P/E)		 0.00 0.00 0.00 0.00 0.00
Dividend Yield		 0.00% 0.00% 0.00% 0.00% 0.00%
Earnings Yield		 0.00% 0.00% 0.00% 0.00% 0.00%
Enterprise Value to Invested Capital (EV/IC)		 0.00 0.00 0.33 2.86 3.10
Enterprise Value to Revenue (EV/Rev)		 802.13 1,550.31 40.36 1,205.10 1,933.75
Enterprise Value to EBITDA (EV/EBITDA)		 0.00 0.00 0.00 0.00 0.00
Enterprise Value to EBIT (EV/EBIT)		 0.00 0.00 0.00 0.00 0.00
Enterprise Value to NOPAT (EV/NOPAT)		 0.00 0.00 0.00 0.00 0.00
Enterprise Value to Operating Cash Flow (EV/OCF)		 0.00 0.00 0.00 0.00 0.00
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 0.00 0.00 0.00 0.00
Leverage & Solvency		 - - - - -
Debt to Equity		 -1.00 4.34 0.07 12.43 16.80
Long-Term Debt to Equity		 -0.73 2.17 0.00 0.00 0.78
Financial Leverage		 -0.85 -0.77 -0.76 -0.45 9.51
Leverage Ratio		 -0.35 -0.92 1.69 1.82 22.00
Compound Leverage Factor		 -0.35 -0.96 1.79 1.94 23.97
Debt to Total Capital		 37,922.72% 81.26% 6.40% 92.56% 94.38%
Short-Term Debt to Total Capital		 10,180.50% 40.63% 6.40% 92.56% 90.02%
Long-Term Debt to Total Capital		 27,742.22% 40.63% 0.00% 0.00% 4.36%
Preferred Equity to Total Capital		 3.02% 0.03% 0.00% 0.01% 0.02%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital		 -37,825.74% 18.71% 93.60% 7.43% 5.60%
Debt to EBITDA		 -1.34 -0.17 -0.08 -0.33 -0.49
Net Debt to EBITDA		 -1.14 0.11 0.88 -0.19 -0.28
Long-Term Debt to EBITDA		 -0.98 -0.08 0.00 0.00 -0.02
Debt to NOPAT		 -1.84 -0.23 -0.11 -0.44 -0.64
Net Debt to NOPAT		 -1.56 0.15 1.20 -0.25 -0.36
Long-Term Debt to NOPAT		 -1.35 -0.12 0.00 0.00 -0.03
Altman Z-Score		 -44.29 -30.00 -9.72 -31.57 -27.72
Noncontrolling Interest Sharing Ratio		 -0.01% -0.01% 0.01% 0.01% 0.30%
Liquidity Ratios		 - - - - -
Current Ratio		 0.56 1.47 4.20 0.59 0.53
Quick Ratio		 0.27 0.91 3.32 0.30 0.34
Cash Flow Metrics		 - - - - -
Free Cash Flow to Firm (FCFF)		 0.00 -4.75 -7.12 -5.40 -6.75
Operating Cash Flow to CapEx		 -188,620.29% -31,535.81% -9,417.71% -234,811.34% -208,967.56%
Free Cash Flow to Firm to Interest Expense		 0.00 -19.54 -20.12 -10.80 -8.96
Operating Cash Flow to Interest Expense		 -30.01 -23.74 -17.14 -14.81 -9.86
Operating Cash Flow Less CapEx to Interest Expense		 -30.03 -23.82 -17.33 -14.82 -9.87
Efficiency Ratios		 - - - - -
Asset Turnover		 0.01 0.00 0.00 0.00 0.00
Accounts Receivable Turnover		 6.19 0.00 0.00 0.00 0.00
Inventory Turnover		 0.01 0.00 0.01 0.00 0.00
Fixed Asset Turnover		 0.21 0.08 0.23 0.05 0.08
Accounts Payable Turnover		 0.01 0.00 0.01 0.00 0.01
Days Sales Outstanding (DSO)		 58.94 0.00 0.00 0.00 0.00
Days Inventory Outstanding (DIO)		 31,186.40 88,149.46 39,181.17 124,201.54 134,799.79
Days Payable Outstanding (DPO)		 32,139.66 86,557.87 32,398.99 74,440.97 65,752.44
Cash Conversion Cycle (CCC)		 -894.31 1,591.59 6,782.18 49,760.57 69,047.35
Capital & Investment Metrics		 - - - - -
Invested Capital		 -0.90 -0.43 2.28 1.84 2.69
Invested Capital Turnover		 -0.02 -0.01 0.02 0.00 0.00
Increase / (Decrease) in Invested Capital		 0.00 0.47 2.71 -0.44 0.86
Enterprise Value (EV)		 12 7.98 0.75 5.24 8.35
Market Capitalization		 6.38 8.64 6.06 3.79 6.21
Book Value per Share		 ($1.82) $0.02 $0.11 $0.19 $0.07
Tangible Book Value per Share		 ($1.82) $0.02 $0.09 ($1.31) ($0.67)
Total Capital		 0.02 1.23 7.82 2.76 4.02
Total Debt		 6.07 1.00 0.50 2.55 3.80
Total Long-Term Debt		 4.44 0.50 0.00 0.00 0.18
Net Debt		 5.15 -0.66 -5.31 1.45 2.14
Capital Expenditures (CapEx)		 0.00 0.02 0.06 0.00 0.00
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 -0.83 -0.30 0.29 -0.08 -0.31
Debt-free Net Working Capital (DFNWC)		 0.09 1.36 6.10 1.02 1.34
Net Working Capital (NWC)		 -1.54 0.86 5.60 -1.53 -2.28
Net Nonoperating Expense (NNE)		 1.53 2.08 2.19 2.92 3.25
Net Nonoperating Obligations (NNO)		 5.15 -0.66 -5.04 1.63 2.47
Total Depreciation and Amortization (D&A)		 0.18 0.09 0.20 0.41 0.63
Debt-free, Cash-free Net Working Capital to Revenue		 -5,760.46% -5,762.66% 1,583.22% -1,808.78% -7,244.22%
Debt-free Net Working Capital to Revenue		 628.32% 26,479.42% 32,807.13% 23,434.85% 31,116.83%
Net Working Capital to Revenue		 -10,712.38% 16,770.68% 30,118.96% -35,212.74% -52,747.95%
Earnings Adjustments		 - - - - -
Adjusted Basic Earnings per Share		 $0.00 ($80.00) ($19.00) ($9.34) ($3.48)
Adjusted Weighted Average Basic Shares Outstanding		 0.00 79.51K 352.52K 938.26K 2.63M
Adjusted Diluted Earnings per Share		 $0.00 ($80.00) ($19.00) ($9.34) $0.00
Adjusted Weighted Average Diluted Shares Outstanding		 0.00 79.51K 352.52K 938.26K 3.90M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 0.00 103.62K 855.97K 1.93M 3.90M
Normalized Net Operating Profit after Tax (NOPAT)		 -3.30 -4.28 -4.41 -5.85 -5.89
Normalized NOPAT Margin		 -22,935.92% -83,088.83% -23,731.39% -134,409.19% -136,351.17%
Pre Tax Income Margin		 -33,592.57% -123,384.27% -35,511.87% -201,499.52% -211,666.47%
Debt Service Ratios		 - - - - -
EBIT to Interest Expense		 -38.77 -25.13 -17.65 -16.51 -11.14
NOPAT to Interest Expense		 -27.15 -17.60 -12.47 -11.68 -7.82
EBIT Less CapEx to Interest Expense		 -38.78 -25.21 -17.84 -16.52 -11.14
NOPAT Less CapEx to Interest Expense		 -27.17 -17.67 -12.65 -11.69 -7.83
Payout Ratios		 - - - - -
Dividend Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00%
Augmented Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00%

Quarterly Metrics And Ratios for HeartSciences

This table displays calculated financial ratios and metrics derived from HeartSciences' official financial filings.

Metric Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q3 2026
Period end date 10/31/2023 1/31/2024 4/30/2024 7/31/2024 10/31/2024 1/31/2025 4/30/2025 1/31/2026
DEI Shares Outstanding		 10,920,980.00 63,611,630.00 65,561,630.00 1,934,280.00 911,321.00 980,321.00 1,080,946.00 3,178,207.00
DEI Adjusted Shares Outstanding		 109,210.00 636,116.00 655,616.00 1,934,280.00 911,321.00 980,321.00 1,080,946.00 3,178,207.00
DEI Earnings Per Adjusted Shares Outstanding		 -16.01 -2.58 -2.82 -1.06 -2.29 -2.59 -1.69 -0.62
Growth Metrics		 - - - - - - - -
Revenue Growth		 0.00% 653.85% 0.00% 0.00% -100.00% -100.00% 0.00% 0.00%
EBITDA Growth		 16.66% -13.70% -12.80% -44.78% -13.34% -49.77% -1.61% 13.26%
EBIT Growth		 11.49% -16.50% -14.19% -52.50% -25.18% -54.51% -7.68% 18.38%
NOPAT Growth		 11.55% -16.50% -17.59% -55.99% -26.44% -55.47% -8.18% 18.66%
Net Income Growth		 3.22% -22.48% -13.10% -50.10% -19.13% -54.29% 1.25% 21.73%
EPS Growth		 3.22% -22.48% -13.10% 80.05% 85.74% 0.00% 62.98% 0.00%
Operating Cash Flow Growth		 8.51% -105.97% 15.31% -39.10% -136.22% 22.89% -0.88% 0.00%
Free Cash Flow Firm Growth		 -68.81% -906.60% -152.87% -115.73% -179.11% 68.00% 75.62% -64.65%
Invested Capital Growth		 149.09% 594.12% 629.99% 481.33% 1,935.81% -13.87% -19.43% 37.25%
Revenue Q/Q Growth		 0.00% 276.92% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
EBITDA Q/Q Growth		 -12.95% -0.56% -21.23% -5.14% 11.58% -32.89% 17.75% 0.00%
EBIT Q/Q Growth		 -17.99% 2.84% -19.66% -11.17% 3.15% -19.92% 16.61% 0.00%
NOPAT Q/Q Growth		 -17.98% 2.84% -23.23% -10.42% 4.37% -19.47% 14.25% 0.00%
Net Income Q/Q Growth		 -27.91% 5.98% -12.31% -11.13% -1.52% -21.77% 28.12% 0.00%
EPS Q/Q Growth		 -27.91% 5.98% -12.31% 49.62% 14.02% 0.00% 0.00% 0.00%
Operating Cash Flow Q/Q Growth		 29.63% -112.61% 24.95% -23.88% -19.50% 25.81% 1.82% 0.00%
Free Cash Flow Firm Q/Q Growth		 2.26% -161.33% 1.74% 14.04% -26.46% 70.03% 25.17% 0.00%
Invested Capital Q/Q Growth		 -63.01% 1,533.24% -9.52% 6.34% 29.55% -30.90% -15.36% 0.00%
Profitability Metrics		 - - - - - - - -
Gross Margin		 61.03% 68.97% 0.00% 0.00% 0.00% 0.00% -261.29% 0.00%
EBITDA Margin		 -37,757.26% -10,073.76% 0.00% 0.00% 0.00% 0.00% -5,884,545.16% 0.00%
Operating Margin		 -40,254.95% -10,376.75% 0.00% 0.00% 0.00% 0.00% -6,559,925.81% 0.00%
EBIT Margin		 -40,254.87% -10,376.64% 0.00% 0.00% 0.00% 0.00% -6,340,064.52% 0.00%
Profit (Net Income) Margin		 -44,830.21% -11,182.39% 0.00% 0.00% 0.00% 0.00% -5,881,206.45% 0.00%
Tax Burden Percent		 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%
Interest Burden Percent		 111.37% 107.77% 101.15% 101.11% 105.98% 107.62% 92.76% 103.20%
Effective Tax Rate		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Invested Capital (ROIC)		 0.00% -134.53% 0.00% 0.00% 0.00% 0.00% -9,709.94% 0.00%
ROIC Less NNEP Spread (ROIC-NNEP)		 0.00% -116.44% 0.00% 0.00% 0.00% 0.00% -9,686.48% 0.00%
Return on Net Nonoperating Assets (RNNOA)		 0.00% 88.51% 0.00% 0.00% 0.00% 0.00% 4,388.56% 0.00%
Return on Equity (ROE)		 2,148.02% -46.02% 0.00% 0.00% 0.00% 0.00% -5,321.37% 0.00%
Cash Return on Invested Capital (CROIC)		 -2,940.80% -287.71% -312.60% -488.90% -502.43% -229.99% -262.70% 0.00%
Operating Return on Assets (OROA)		 -65.97% -27.03% 0.00% 0.00% 0.00% 0.00% -4,018.54% 0.00%
Return on Assets (ROA)		 -73.47% -29.13% 0.00% 0.00% 0.00% 0.00% -3,727.70% 0.00%
Return on Common Equity (ROCE)		 2,150.99% -46.01% 0.00% 0.00% 0.00% 0.00% -5,320.84% 0.00%
Return on Equity Simple (ROE_SIMPLE)		 369.14% -74.03% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Net Operating Profit after Tax (NOPAT)		 -1.10 -1.07 -1.32 -1.45 -1.39 -1.66 -1.42 -1.35
NOPAT Margin		 -28,178.46% -7,263.72% 0.00% 0.00% 0.00% 0.00% -4,591,948.06% 0.00%
Net Nonoperating Expense Percent (NNEP)		 319.02% -18.09% -18.61% 548.49% 182.40% -30.57% -23.45% 179.62%
Return On Investment Capital (ROIC_SIMPLE)		 -432.10% -11.13% -16.83% -29.27% -28.19% -35.63% -51.64% -21.87%
Cost of Revenue to Revenue		 38.97% 31.03% 0.00% 0.00% 0.00% 0.00% 361.29% 0.00%
SG&A Expenses to Revenue		 20,897.95% 6,979.69% 0.00% 0.00% 0.00% 0.00% 1,305,616.13% 0.00%
R&D to Revenue		 19,418.03% 3,466.03% 0.00% 0.00% 0.00% 0.00% 5,254,048.39% 0.00%
Operating Expenses to Revenue		 40,315.97% 10,445.72% 0.00% 0.00% 0.00% 0.00% 6,559,664.52% 0.00%
Earnings before Interest and Taxes (EBIT)		 -1.57 -1.53 -1.83 -2.03 -1.97 -2.36 -1.97 -1.92
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 -1.47 -1.48 -1.80 -1.89 -1.67 -2.22 -1.82 -1.92
Valuation Ratios		 - - - - - - - -
Price to Book Value (P/BV)		 0.00 1.10 0.83 1.05 0.64 1.77 18.50 3.87
Price to Tangible Book Value (P/TBV)		 0.00 1.35 1.06 2.16 1.14 17.79 0.00 19.12
Price to Revenue (P/Rev)		 465.22 512.31 325.69 177.18 156.51 732.62 870.97 0.00
Price to Earnings (P/E)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Dividend Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Earnings Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Enterprise Value to Invested Capital (EV/IC)		 29.35 1.36 0.33 0.96 0.47 1.59 2.86 3.49
Enterprise Value to Revenue (EV/Rev)		 773.63 183.54 40.36 125.09 86.24 796.50 1,205.10 0.00
Enterprise Value to EBITDA (EV/EBITDA)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to EBIT (EV/EBIT)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to NOPAT (EV/NOPAT)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to Operating Cash Flow (EV/OCF)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Leverage & Solvency		 - - - - - - - -
Debt to Equity		 -1.15 0.11 0.07 0.58 0.18 1.61 12.43 1.33
Long-Term Debt to Equity		 -0.30 0.05 0.00 0.09 0.06 0.19 0.00 0.16
Financial Leverage		 -0.72 -0.76 -0.76 0.08 0.30 -0.55 -0.45 0.16
Leverage Ratio		 -12.59 1.71 1.69 3.45 3.30 1.58 1.82 2.99
Compound Leverage Factor		 -14.02 1.84 1.71 3.48 3.50 1.70 1.69 3.08
Debt to Total Capital		 748.64% 10.01% 6.40% 36.72% 15.16% 61.65% 92.56% 57.04%
Short-Term Debt to Total Capital		 557.20% 5.21% 6.40% 31.05% 10.14% 54.23% 92.56% 50.21%
Long-Term Debt to Total Capital		 191.44% 4.80% 0.00% 5.67% 5.02% 7.42% 0.00% 6.83%
Preferred Equity to Total Capital		 0.15% 0.00% 0.00% 0.02% 0.02% 0.01% 0.01% 0.01%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital		 -648.79% 89.98% 93.60% 63.26% 84.82% 38.34% 7.43% 42.95%
Debt to EBITDA		 -0.34 -0.16 -0.08 -0.27 -0.11 -0.37 -0.33 0.00
Net Debt to EBITDA		 -0.32 1.05 0.88 0.15 0.17 -0.04 -0.19 0.00
Long-Term Debt to EBITDA		 -0.09 -0.08 0.00 -0.04 -0.04 -0.04 0.00 0.00
Debt to NOPAT		 -0.47 -0.23 -0.11 -0.37 -0.14 -0.50 -0.44 0.00
Net Debt to NOPAT		 -0.44 1.45 1.20 0.20 0.23 -0.05 -0.25 0.00
Long-Term Debt to NOPAT		 -0.12 -0.11 0.00 -0.06 -0.05 -0.06 0.00 0.00
Altman Z-Score		 -40.41 -5.54 -8.19 -17.18 -18.55 -19.04 -26.64 0.00
Noncontrolling Interest Sharing Ratio		 -0.14% 0.01% 0.00% 0.00% 0.00% 0.00% 0.01% 0.00%
Liquidity Ratios		 - - - - - - - -
Current Ratio		 0.51 5.09 4.20 1.47 2.42 1.02 0.59 1.19
Quick Ratio		 0.03 4.16 3.32 0.93 1.25 0.73 0.30 0.80
Cash Flow Metrics		 - - - - - - - -
Free Cash Flow to Firm (FCFF)		 -1.57 -4.10 -4.02 -3.46 -4.37 -1.31 -0.98 -2.16
Operating Cash Flow to CapEx		 0.00% -23,890.95% -3,231.14% 0.00% 0.00% 0.00% 0.00% 0.00%
Free Cash Flow to Firm to Interest Expense		 -8.78 -34.58 -192.21 -153.56 -37.20 -7.30 0.00 -35.09
Operating Cash Flow to Interest Expense		 -5.54 -17.74 -75.31 -86.72 -19.85 -9.03 0.00 0.00
Operating Cash Flow Less CapEx to Interest Expense		 -5.54 -17.81 -77.64 -86.72 -19.85 -9.03 0.00 0.00
Efficiency Ratios		 - - - - - - - -
Asset Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Accounts Receivable Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Inventory Turnover		 0.00 0.01 0.01 0.01 0.01 0.00 0.00 0.00
Fixed Asset Turnover		 0.10 0.31 0.23 0.32 0.32 0.07 0.05 0.00
Accounts Payable Turnover		 0.00 0.01 0.01 0.02 0.01 0.00 0.00 0.00
Days Sales Outstanding (DSO)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Days Inventory Outstanding (DIO)		 108,259.96 40,431.12 39,181.17 39,791.24 43,654.63 136,505.97 124,201.54 0.00
Days Payable Outstanding (DPO)		 150,767.65 43,689.65 32,398.99 22,150.45 46,065.34 84,659.36 74,440.97 0.00
Cash Conversion Cycle (CCC)		 -42,507.69 -3,258.53 6,782.18 17,640.80 -2,410.71 51,846.62 49,760.57 0.00
Capital & Investment Metrics		 - - - - - - - -
Invested Capital		 0.15 2.52 2.28 2.42 3.14 2.17 1.84 2.98
Invested Capital Turnover		 -0.07 0.02 0.02 0.01 0.01 0.00 0.00 0.00
Increase / (Decrease) in Invested Capital		 0.47 3.03 2.71 2.01 2.98 -0.35 -0.44 0.81
Enterprise Value (EV)		 4.53 3.41 0.75 2.33 1.48 3.44 5.24 10
Market Capitalization		 2.72 9.53 6.06 3.30 2.68 3.16 3.79 10
Book Value per Share		 ($0.15) $0.14 $0.11 $3.67 $4.59 $1.82 $0.19 $0.83
Tangible Book Value per Share		 ($0.15) $0.11 $0.09 $1.78 $2.58 $0.18 ($1.31) $0.17
Total Capital		 0.25 9.59 7.82 4.96 4.93 4.66 2.76 6.17
Total Debt		 1.90 0.96 0.50 1.82 0.75 2.87 2.55 3.52
Total Long-Term Debt		 0.49 0.46 0.00 0.28 0.25 0.35 0.00 0.42
Net Debt		 1.80 -6.12 -5.31 -0.97 -1.20 0.28 1.45 0.12
Capital Expenditures (CapEx)		 0.00 0.01 0.05 0.00 0.00 0.00 0.00 0.00
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 -0.40 0.41 0.29 0.15 0.78 -0.01 -0.08 0.53
Debt-free Net Working Capital (DFNWC)		 -0.30 7.48 6.10 2.94 2.73 2.58 1.02 3.93
Net Working Capital (NWC)		 -1.72 6.98 5.60 1.40 2.23 0.06 -1.53 0.83
Net Nonoperating Expense (NNE)		 0.65 0.58 0.53 0.60 0.69 0.88 0.40 0.63
Net Nonoperating Obligations (NNO)		 1.80 -6.12 -5.04 -0.72 -1.04 0.38 1.63 0.32
Total Depreciation and Amortization (D&A)		 0.10 0.04 0.03 0.14 0.30 0.14 0.14 0.00
Debt-free, Cash-free Net Working Capital to Revenue		 -6,871.16% 2,194.86% 1,583.22% 811.72% 4,532.98% -293.35% -1,808.78% 0.00%
Debt-free Net Working Capital to Revenue		 -5,159.30% 40,240.54% 32,807.13% 15,823.71% 15,930.28% 59,825.24% 23,434.85% 0.00%
Net Working Capital to Revenue		 -29,383.66% 37,552.37% 30,118.96% 7,538.12% 13,009.55% 1,334.38% -35,212.74% 0.00%
Earnings Adjustments		 - - - - - - - -
Adjusted Basic Earnings per Share		 ($16.00) ($3.00) ($524.00) ($2.64) ($2.27) ($2.57) ($1.94) ($0.63)
Adjusted Weighted Average Basic Shares Outstanding		 109.39K 537.93K 3.53K 777.75K 917.45K 986.06K 938.26K 3.16M
Adjusted Diluted Earnings per Share		 ($16.00) ($3.00) ($524.00) ($2.64) ($2.27) ($2.57) ($1.94) $0.00
Adjusted Weighted Average Diluted Shares Outstanding		 109.39K 537.93K 3.53K 777.75K 917.45K 986.06K 1.93M 3.18M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 ($524.00) $0.00 $0.00 $0.00 ($1.94) $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 636.12K 655.62K 8.56K 911.32K 980.32K 1.08M 1.93M 3.18M
Normalized Net Operating Profit after Tax (NOPAT)		 -1.10 -1.07 -1.32 -1.45 -1.39 -1.66 -1.42 -1.35
Normalized NOPAT Margin		 -28,178.46% -7,263.72% 0.00% 0.00% 0.00% 0.00% -4,591,948.06% 0.00%
Pre Tax Income Margin		 -44,830.21% -11,182.39% 0.00% 0.00% 0.00% 0.00% -5,881,206.45% 0.00%
Debt Service Ratios		 - - - - - - - -
EBIT to Interest Expense		 -8.80 -12.88 -87.18 -90.08 -16.71 -13.13 0.00 -31.28
NOPAT to Interest Expense		 -6.16 -9.01 -62.85 -64.50 -11.82 -9.25 0.00 -21.95
EBIT Less CapEx to Interest Expense		 -8.80 -12.95 -89.51 -90.08 -16.71 -13.13 0.00 0.00
NOPAT Less CapEx to Interest Expense		 -6.16 -9.09 -65.18 -64.50 -11.82 -9.25 0.00 0.00
Payout Ratios		 - - - - - - - -
Dividend Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Augmented Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%

Financials Breakdown Chart

Key Financial Trends

HeartSciences’ financial statements continue to show a development-stage company with minimal revenue, recurring losses and substantial cash burn. The latest Q3 2026 balance sheet reported $3.4 million of cash and equivalents, while Q4 2026 cash flow showed a $1.7 million decline in cash during the quarter. At the recent operating burn rate, the reported cash balance represents only roughly two quarters of operating cash usage before considering financing or changes in spending.

  • Losses narrowed in Q3 2026. Net loss was $2.0 million, compared with a restated $2.5 million loss in Q3 2025. Selling, general and administrative expense declined to $1.3 million from $1.34 million, while research and development expense fell to $638,575 from $1.03 million.
  • Liquidity improved from the weakest point in the period. Current assets of $5.1 million exceeded current liabilities of $4.3 million in Q3 2026. This compares with negative working capital in Q2 2024, when current liabilities of $3.5 million exceeded current assets of $1.8 million.
  • Shareholders’ equity returned to positive territory. Total equity increased from a deficit of $1.65 million in Q2 2024 to $2.65 million in Q3 2026, helped largely by equity financing and changes in the company’s capital structure.
  • Inventory remained relatively stable. Net inventory was approximately $657,000 in Q3 2026, broadly similar to levels reported during 2024 and 2025. However, the absence of meaningful revenue makes inventory utilization difficult to assess.
  • Cash flow benefited from non-cash adjustments. In Q4 2026, $784,055 of non-cash adjustments, amortization and depreciation helped offset part of the $2.75 million net loss. These adjustments do not represent recurring cash earnings.
  • Revenue remains effectively nonexistent. Reported revenue was $14,700 in Q3 2024, $3,900 in Q2 2024, $31 in Q4 2025 and zero in Q1 and Q3 2025 and Q3 2026. The company therefore has not demonstrated a sustainable commercial revenue stream in the supplied data.
  • Operating cash flow has been consistently negative. Quarterly operating cash outflows ranged from approximately $1.6 million to $2.2 million across the available periods, including a $1.68 million outflow in Q4 2026. The company remains dependent on external capital to fund operations.
  • Retained losses remain substantial. Retained earnings were negative $82.5 million in Q3 2026, compared with negative $63.9 million in Q2 2024. Continued quarterly losses are eroding the company’s accumulated capital base.
  • Debt and liability obligations have increased. Total liabilities rose to $4.9 million in Q3 2026 from $2.2 million in Q3 2024. Short-term debt increased to $3.1 million from $500,000 over the same comparison, increasing refinancing and repayment risk.
  • Financing has relied heavily on equity issuance. Common stock on the balance sheet increased from $62.2 million in Q2 2024 to $85.2 million in Q3 2026, while weighted-average shares also rose sharply in the supplied income statements. Additional equity financing could provide liquidity but may dilute existing shareholders.

Overall, the modest improvement in quarterly losses and the return to positive book equity are constructive developments. However, these improvements have not yet been accompanied by meaningful revenue generation or positive operating cash flow. For investors, the most important risks remain cash runway, the need for additional financing, rising debt obligations and potential shareholder dilution.

08/22/26 01:12 AM ETAI Generated. May Contain Errors.

HeartSciences Financials - Frequently Asked Questions

According to the most recent income statement we have on file, HeartSciences' fiscal year ends in April. Their fiscal year 2026 ended on April 30, 2026.

HeartSciences' net income appears to be on an upward trend, with a most recent value of -$9.14 million in 2026, rising from -$4.83 million in 2022. The previous period was -$8.77 million in 2025. See where experts think HeartSciences is headed by visiting HeartSciences' forecast page.

HeartSciences' total operating income in 2026 was -$8.41 million, based on the following breakdown:
  • Total Gross Profit: $2.55 thousand
  • Total Operating Expenses: $8.42 million

Over the last 4 years, HeartSciences' total revenue changed from $14.37 thousand in 2022 to $4.32 thousand in 2026, a change of -70.0%.

HeartSciences' total liabilities were at $5.04 million at the end of 2026, a 25.4% increase from 2025, and a 38.2% decrease since 2022.

In the past 4 years, HeartSciences' cash and equivalents has ranged from $918.26 thousand in 2022 to $5.81 million in 2024, and is currently $1.66 million as of their latest financial filing in 2026.

Over the last 4 years, HeartSciences' book value per share changed from -1.82 in 2022 to 0.07 in 2026, a change of -103.9%.


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Financial statements for NASDAQ:HSCS last updated on 8/21/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.
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They didn't warn anyone in 1971. This time someone is warning you.
On August 15, 1971, Nixon interrupted prime-time television and ended the gold standard in 15 minutes - no deb...
Reagan Gold Group | Sponsoredtc pixel
Someone just dumped the biggest gold fund.
Investors pulled 2.9 billion dollars from the world's largest gold fund in a single day this March, pushing to...
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Here’s the stock symbol I’ve promised
Whitney Tilson of Stansberry Research has long recommended Berkshire Hathaway as a core retirement holding - b...
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