HeartCore Announces Preliminary Third Quarter 2024 Financial Results
HeartCore Enterprises (Nasdaq: HTCR) has announced preliminary financial results for Q3 2024, expecting significant growth. Revenues are projected to be between $17 million and $19 million, a 263% to 305% increase from Q3 2023. Net income is expected to range from $9 million to $11 million, compared to a net loss in the same period last year.
The company's growth is primarily attributed to its Go IPO Business, which is expected to generate $13-$15 million in Q3 2024, largely due to the successful public listing of SBC Medical Group Holdings. HeartCore's Software Related Business is projected to contribute $4 million in Q3 2024. The company anticipates closing three additional Go IPO deals in the coming months and has implemented multi-year software licensing agreements to boost revenues.
HeartCore Enterprises (Nasdaq: HTCR) ha annunciato i risultati finanziari preliminari per il terzo trimestre del 2024, prevedendo una crescita significativa. Le entrate sono stimate tra 17 milioni e 19 milioni di dollari, con un incremento del 263% al 305% rispetto al terzo trimestre del 2023. Il reddito netto è previsto tra 9 milioni e 11 milioni di dollari, rispetto a una perdita netta nello stesso periodo dell'anno scorso.
La crescita dell'azienda è principalmente attribuita al suo Business Go IPO, che dovrebbe generare 13-15 milioni di dollari nel terzo trimestre del 2024, grazie in gran parte al successo della quotazione pubblica di SBC Medical Group Holdings. Si prevede che il Business Relativo al Software contribuisca con 4 milioni di dollari nel terzo trimestre del 2024. L'azienda si aspetta di concludere ulteriori tre accordi Go IPO nei prossimi mesi e ha implementato contratti di licenza software pluriennali per aumentare i ricavi.
HeartCore Enterprises (Nasdaq: HTCR) ha anunciado resultados financieros preliminares para el tercer trimestre de 2024, esperando un crecimiento significativo. Se proyecta que los ingresos estén entre 17 millones y 19 millones de dólares, un aumento del 263% al 305% en comparación con el tercer trimestre de 2023. El ingreso neto se espera que oscile entre 9 millones y 11 millones de dólares, en comparación con una pérdida neta en el mismo período del año anterior.
El crecimiento de la compañía se atribuye principalmente a su negocio Go IPO, que se espera genere entre 13 y 15 millones de dólares en el tercer trimestre de 2024, en gran parte debido a la exitosa cotización en bolsa de SBC Medical Group Holdings. Se prevé que el negocio relacionado con el software contribuya con 4 millones de dólares en el tercer trimestre de 2024. La empresa anticipa cerrar tres acuerdos adicionales de Go IPO en los próximos meses y ha implementado acuerdos de licencias de software a varios años para impulsar los ingresos.
HeartCore Enterprises (Nasdaq: HTCR)는 2024년 3분기 초기 재무 결과를 발표하며 상당한 성장을 기대하고 있습니다. 수익은 1,700만 달러에서 1,900만 달러로 예상되며, 이는 2023년 3분기 대비 263%에서 305% 증가한 수치입니다. 순이익은 900만 달러에서 1,100만 달러로 예상되며, 지난해 같은 기간에는 순손실을 기록했던 것과 비교됩니다.
회사의 성장은 주로 Go IPO 사업 덕분이며, 이 사업은 2024년 3분기에 1,300만에서 1,500만 달러의 수익을 생성할 것으로 예상됩니다. 이는 SBC Medical Group Holdings의 성공적인 상장 덕분입니다. HeartCore의 소프트웨어 관련 사업은 2024년 3분기에 400만 달러를 기여할 것으로 예상됩니다. 회사는 향후 몇 달 안에 3개의 추가 Go IPO 거래를 성사시킬 것으로 예상하고 있으며, 수익 증대를 위해 다년간 소프트웨어 라이센스 계약을 체결했습니다.
HeartCore Enterprises (Nasdaq: HTCR) a annoncé des résultats financiers préliminaires pour le troisième trimestre 2024, s'attendant à une croissance significative. Les revenus devraient se situer entre 17 millions et 19 millions de dollars, soit une augmentation de 263 % à 305 % par rapport au troisième trimestre 2023. Le revenu net est prévu entre 9 millions et 11 millions de dollars, par rapport à une perte nette durant la même période l'année dernière.
La croissance de l'entreprise est principalement attribuée à son activité Go IPO, qui devrait générer entre 13 et 15 millions de dollars au troisième trimestre 2024, en grande partie grâce à la réussite de l'introduction en bourse de SBC Medical Group Holdings. On prévoit que l'activité liée aux logiciels contribuera à hauteur de 4 millions de dollars au troisième trimestre 2024. L'entreprise s'attend à finaliser trois autres accords Go IPO dans les mois à venir et a mis en œuvre des accords de licence logicielle pluriannuels pour augmenter ses revenus.
HeartCore Enterprises (Nasdaq: HTCR) hat vorläufige Finanzergebnisse für das dritte Quartal 2024 bekannt gegeben und rechnet mit einem signifikanten Wachstum. Die Einnahmen werden voraussichtlich zwischen 17 Millionen und 19 Millionen Dollar liegen, was einem Anstieg von 263% bis 305% im Vergleich zum dritten Quartal 2023 entspricht. Der Nettogewinn wird voraussichtlich zwischen 9 Millionen und 11 Millionen Dollar liegen, verglichen mit einem Nettoverlust im gleichen Zeitraum des Vorjahres.
Das Wachstum des Unternehmens wird hauptsächlich dem Go IPO-Geschäft zugeschrieben, das im dritten Quartal 2024 voraussichtlich 13 bis 15 Millionen Dollar generieren wird, hauptsächlich aufgrund des erfolgreichen Börsengangs von SBC Medical Group Holdings. Es wird erwartet, dass das Software-bezogene Geschäft im dritten Quartal 2024 4 Millionen Dollar beiträgt. Das Unternehmen rechnet damit, in den kommenden Monaten drei weitere Go IPO-Deals abzuschließen, und hat mehrjährige Softwarelizenzvereinbarungen implementiert, um die Einnahmen zu steigern.
- Projected Q3 2024 revenues between $17-$19 million, a 263-305% increase year-over-year
- Expected Q3 2024 net income of $9-$11 million, compared to a net loss in Q3 2023
- Go IPO Business expected to generate $13-$15 million in Q3 2024
- Software Related Business projected to contribute $4 million in Q3 2024
- Three additional Go IPO deals expected to close in the coming months
- Implementation of multi-year software licensing agreements to increase revenues
- None.
Insights
HeartCore's preliminary Q3 2024 results show remarkable growth, with revenues expected to surge
The Go IPO Business has proven to be a game-changer, with a single client (SBC Medical Group) expected to generate
The Software Related Business is also showing promise, with projected Q3 revenues of
While these results are impressive, investors should note that they are preliminary and subject to final review. The company's ability to maintain this growth trajectory and successfully close pending Go IPO deals will be important for long-term performance.
HeartCore's preliminary Q3 results reflect a significant market opportunity in the Japanese IPO consulting space. The success of the SBC Medical Group deal demonstrates the potential for high-value transactions in this niche market. With three more Go IPO deals in the pipeline and an optimistic outlook on U.S. IPOs for Japanese companies, HeartCore is well-positioned to capitalize on this trend.
The company's dual-pronged approach, combining software solutions with IPO consulting, creates a unique value proposition. This diversification helps mitigate risks associated with market fluctuations in either segment. The shift towards multi-year software licensing agreements in the Software Related Business indicates a strategic move to build a more stable revenue base, complementing the potentially volatile but high-reward nature of the Go IPO Business.
Investors should monitor HeartCore's ability to maintain its growth momentum and successfully execute pending deals. The company's performance relative to broader market trends in enterprise software and IPO activity will be key indicators of its long-term potential.
Q3 2024 Revenues Expected to Increase to Between
Q3 2024 Net Income Expected to Increase to Between
NEW YORK and TOKYO, Oct. 18, 2024 (GLOBE NEWSWIRE) -- HeartCore Enterprises, Inc. (Nasdaq: HTCR) (“HeartCore” or “the Company”), a leading enterprise software and data consulting services company based in Tokyo, announced select preliminary financial results for the third quarter ended September 30, 2024. These results are preliminary and unaudited, and are subject to all aspects of the final quarterly review process and may change as a result of new information that arises, or new determinations that are made, in this process.
Based on preliminary unaudited results, the Company expects revenues for the third quarter of 2024 to be between
Net income is expected to be between
HeartCore’s “Software Related Business” and “Go IPO Business” include the following revenue streams:
Software Related Business
- Revenues from on-premise software
- Revenues from maintenance and support services
- Revenues from software as a service (“SaaS”)
- Revenues from software development and other miscellaneous services
- Revenues from customized software development and services
GO IPO Business
- Revenues from consulting services
Each business is expected to have the following results for the third quarter of 2024:
| Software Related Business | GO IPO Business | |
| Q3 2024 Revenues |
“I am pleased to announce robust preliminary results for this past third quarter, the strongest quarter in HeartCore’s history,” said the Company CEO Sumitaka Kanno. “This significant increase is primarily due to the recent public listing of our Go IPO client, SBC Medical Group Holdings Incorporated (“SBC”). The Company is expected to report approximately
About HeartCore Enterprises, Inc.
Headquartered in Tokyo, Japan, HeartCore Enterprises is a leading enterprise software and consulting services company. HeartCore offers Software as a Service (SaaS) solutions to enterprise customers in Japan and worldwide. The Company also provides data analytics services that allow enterprise businesses to create tailored web experiences for their clients through best-in-class design. HeartCore’s customer experience management platform (CXM Platform) includes marketing, sales, service and content management systems, as well as other tools and integrations, which enable companies to enhance the customer experience and drive engagement. HeartCore also operates a digital transformation business that provides customers with robotics process automation, process mining and task mining to accelerate the digital transformation of enterprises. HeartCore’s GO IPOSM consulting services helps Japanese-based companies go public in the U.S. Additional information about the Company's products and services is available at https://heartcore-enterprises.com/.
Forward-Looking Statements
All statements other than statements of historical facts included in this press release are forward-looking statements. In some cases, forward-looking statements can be identified by words such as “believed,” “intend,” “expect,” “anticipate,” “plan,” “potential,” “continue,” or similar expressions. Such forward-looking statements include risks and uncertainties, and there are important factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements. These factors, risks, and uncertainties are discussed in HeartCore’s filings with the Securities and Exchange Commission. Investors should not place any undue reliance on forward-looking statements since they involve known and unknown, uncertainties and other factors which are, in some cases, beyond HeartCore’s control which could, and likely will materially affect actual results, and levels of activity, performance, or achievements. Any forward-looking statement reflects HeartCore’s current views with respect to future events and is subject to these and other risks, uncertainties, and assumptions relating to operations, results of operations, growth strategy, and liquidity. HeartCore assumes no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future. The contents of any website referenced in this press release are not incorporated by reference herein.
HeartCore Investor Relations Contact:
Gateway Group, Inc.
Matt Glover and John Yi
HTCR@gateway-grp.com
(949) 574-3860
FAQ
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