HeartCore Enterprises, Inc. (Nasdaq: HTCR), an IPO consulting services company based in Tokyo, has announced its financial results for the year ended December 31, 2025. The company reported revenues of $9.0 million, a significant decrease from $22.7 million in the previous year. This decline was primarily attributed to the absence of a substantial $13 million warrant revenue from a large Go IPO deal recognized in the prior period. Gross profit also fell to $3.2 million from $14.7 million, reflecting the impact of the reduced revenue. Operating expenses decreased to $6.3 million, down from $14.9 million, mainly due to cost-saving measures and the lack of impairment charges for intangible assets and goodwill during the current period. Despite the revenue decline, HeartCore reported a net income of $5.5 million, a turnaround from a net loss of $5.2 million in the same period last year, largely due to the gain on the sale of its software business subsidiary, HeartCore Japan. Adjusted EBITDA was reported at $6.5 million, slightly down from $7.3 million in the previous year. The company also highlighted its strategic transformation, including the establishment of a new subsidiary, Higgs Field Co., Ltd., to support its shift towards financial services. HeartCore's leadership remains optimistic about future growth and aims to enhance shareholder value through its evolving business strategy.

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