Company Overview - HeartCore Enterprises, Inc. is a leading enterprise software and data consulting services company headquartered in Tokyo, Japan [3] - The company offers Software as a Service (SaaS) solutions and data analytics services to enterprise customers globally [3] - HeartCore's customer experience management platform includes marketing, sales, service, and content management systems, enhancing customer engagement [3] - The company also provides digital transformation services, including robotics process automation and process mining [3] - HeartCore's GO IPOSM consulting services assist Japanese companies in going public in the U.S. [3] Conference Participation - HeartCore will hold one-on-one meetings at the 37th Annual ROTH Conference from March 16-18, 2025, in Dana Point, California [1] - CEO Sumitaka Kanno will engage with institutional investors during the conference [1] - The conference will feature approximately 450 participating companies across various growth sectors, including Business Services, Consumer, Healthcare, and Technology [2]

Core Insights - HeartCore Enterprises, Inc. is expanding its Go IPO consulting services into South Korea to meet the growing demand from Asia Pacific companies seeking to list on U.S. exchanges [1][2] - The company has initiated a sales and marketing initiative in the Asia-Pacific region, starting with a referral program in South Korea, and plans to collaborate with Thomas Yi from Cross Border Associates [2][3] - HeartCore's CEO, Sumitaka Kanno, highlighted the appeal of U.S. listings for capital raising and liquidity events, indicating ongoing discussions with various companies in South Korea and the broader region [3] Company Overview - HeartCore Enterprises is headquartered in Tokyo and specializes in enterprise software and consulting services, offering SaaS solutions and data analytics services to enhance customer experiences [4] - The company's customer experience management platform includes various systems for marketing, sales, service, and content management, along with digital transformation services [4] - HeartCore's Go IPO consulting services assist Japanese companies in going public in the U.S., positioning the company to capture new opportunities in the Asia-Pacific market [4]

Financial Performance - For the three months ended September 30, 2024, the company generated revenues of $17,850,411, a significant increase from $4,688,908 in the same period of 2023, representing a growth of approximately 280%[155] - The net income for the three months ended September 30, 2024, was $10,816,930, compared to a net loss of $2,541,133 in the same period of 2023, indicating a turnaround in financial performance[155] - For the nine months ended September 30, 2024, the company reported revenues of $26,963,531, up from $18,518,431 in 2023, reflecting a year-over-year increase of approximately 46%[156] - The net income for the nine months ended September 30, 2024, was $7,127,810, compared to a net loss of $1,755,942 in the same period of 2023, showcasing improved profitability[156] - Net income was $10,816,930 for the three months ended September 30, 2024, representing a $13,358,063, or 525.7%, increase from a net loss of $2,541,133 for the same period in 2023[170] - Net income attributable to HeartCore Enterprises, Inc. was $11,057,806 for the three months ended September 30, 2024, representing a $13,365,026, or 579.3%, increase from a net loss of $2,307,220 for the same period in 2023[172] - Total revenues increased by $8,445,100, or 45.6%, to $26,963,531 for the nine months ended September 30, 2024, from $18,518,431 for the same period in 2023[176] - Net income for the nine months ended September 30, 2024, was $7,127,810, representing an increase of $8,883,752, or 505.9%, from a loss of $1,755,942 in the prior year[189] - Net income attributable to HeartCore Enterprises, Inc. was $7,773,356 for the nine months ended September 30, 2024, a $9,110,087, or 681.5%, increase from a net loss of $1,336,731 in the same period of 2023[192] Revenue and Profitability Metrics - Total revenues increased by $13,161,503, or 280.7%, to $17,850,411 for the three months ended September 30, 2024, from $4,688,908 for the same period in 2023[159] - Gross profit increased by $13,588,720, or 1,639.8%, to $14,417,387 for the three months ended September 30, 2024, from $828,667 for the same period in 2023[161] - Gross profit margin increased by 63.1% to 80.8% for the three months ended September 30, 2024, from 17.7% for the same period in 2023[162] - Gross profit rose by $9,285,271, or 116.5%, to $17,255,457 for the nine months ended September 30, 2024, compared to $7,970,186 in the prior year[178] - Gross profit margin increased by 21.0% to 64.0% for the nine months ended September 30, 2024, from 43.0% in the same period of 2023[179] Expenses - Cost of revenues decreased by $427,217, or 11.1%, to $3,433,024 for the three months ended September 30, 2024, from $3,860,241 for the same period in 2023[160] - Selling expenses decreased by $30,933, or 11.3%, to $243,110 for the three months ended September 30, 2024, from $274,043 for the same period in 2023[163] - General and administrative expenses decreased by $205,581, or 9.5%, to $1,966,717 for the three months ended September 30, 2024, from $2,172,298 for the same period in 2023[165] - Research and development expenses decreased by $62,542, or 36.8%, to $107,529 for the three months ended September 30, 2024, from $170,071 for the same period in 2023[167] - Selling expenses decreased by $688,522, or 51.7%, to $642,225 for the nine months ended September 30, 2024, from $1,330,747 in the prior year[180] - General and administrative expenses decreased by $909,963, or 12.5%, to $6,395,429 for the nine months ended September 30, 2024, from $7,305,392 in the same period of 2023[183] Cash Flow and Financial Position - Net cash flows used in operating activities amounted to $3,499,514 for the nine months ended September 30, 2024[195] - Net cash flows provided by investing activities were $5,317,323 for the nine months ended September 30, 2024, primarily from the sale of warrants[196] - Cash and cash equivalents increased to $1,232,117 as of September 30, 2024, from $1,012,479 as of December 31, 2023[193] - As of September 30, 2024, total lease liabilities amount to $2,311,922, with $69,380 attributed to finance leases and $2,242,542 to operating leases[198] - Future minimum principal payments for long-term debts total $1,858,072, with $99,325 due in the remaining of 2024 and $434,474 due in 2025[199] - The Company has no off-balance sheet arrangements as of September 30, 2024[200] Revenue Recognition Policies - Revenues recognized during the nine months ended September 30, 2024, from deferred revenue amounted to approximately $1.8 million, compared to $1.5 million for the same period in 2023[212] - The Company recognizes revenues from on-premise software licenses upfront when made available to customers, with bundled maintenance and support services allocated based on standalone selling prices[204] - Subscription fees from Software as a Service (SaaS) are recognized over time on a ratable basis, typically for contracts of one year or less[206] - Revenues from maintenance and support services are recognized over time as the services are performed[205] - Customized software development revenues are recognized based on billable hours, with contracts generally not exceeding one year[209] - Consulting service revenues are recognized over the contract period, with cash and noncash considerations included in the transaction price[210] - The Company records reductions to revenues for estimated customer returns and allowances, based on historical rates and specific identification of outstanding returns[211] Compliance and Corporate Actions - The company entered into consulting agreements with 14 companies for IPO support, with consulting fees ranging from $380,000 to $900,000 per company[139] - On October 26, 2023, the company received a notice of noncompliance with Nasdaq's minimum bid price requirement of $1.00 per share[149] - The company regained compliance with the Nasdaq minimum bid price requirement on November 5, 2024, after demonstrating a closing bid price of at least $1.00 per share[155] - The company completed the sale of warrants for $9,000,000 in cash, recording a loss of $3,970,628 from this transaction[146]

Financial Results - HeartCore Enterprises, Inc. announced preliminary financial results for Q3 2024 on October 18, 2024[3]. - The financial results include key metrics for the quarter ended September 30, 2024, although specific figures are not provided in the extracted content[3]. - The report does not include detailed user data or performance guidance for future quarters[3]. Company Classification and Compliance - The company is classified as an emerging growth company under the Securities Act[2]. - The report emphasizes compliance with the Securities Exchange Act of 1934[4]. - The information in the report is not considered "filed" under the Securities Act or the Exchange Act[3]. Leadership - The CEO of HeartCore Enterprises, Inc. is Sumitaka Yamamoto, who signed the report[5]. Product and Market Strategy - There is no mention of new product launches or technological developments in the provided content[3]. - The company has not disclosed any market expansion or acquisition strategies in the current report[3]. Additional Information - The press release detailing financial results is attached as Exhibit 99.1[4].

Core Insights - HeartCore Enterprises, Inc. is a leading enterprise software and data consulting services company based in Tokyo, scheduled to present at the Sidoti Micro-Cap Conference on November 13-14, 2024 [1][2] - The CEO, Sumitaka Yamamoto, will present on November 14, 2024, at 11:30 a.m. Eastern time, with the presentation available for webcast and replay [2] - HeartCore offers Software as a Service (SaaS) solutions and data analytics services, enhancing customer experience through a comprehensive customer experience management platform [3] Company Overview - HeartCore Enterprises is headquartered in Tokyo, Japan, and provides enterprise software and consulting services [3] - The company’s offerings include a customer experience management platform that integrates marketing, sales, service, and content management systems [3] - HeartCore also focuses on digital transformation services, including robotics process automation and task mining, to assist enterprises in their digital transformation efforts [3] - The GO IPOSM consulting services help Japanese companies go public in the U.S. [3]

Core Insights - HeartCore Enterprises, Inc. has entered into a sales collaboration with Tosho Computer Systems Co., Ltd. to promote its investor relations support tool, irVision, and its CMS platform [1][2] - The partnership aims to leverage both companies' client networks for cross-promotion and upselling of products and services, enhancing value for clients and creating new business opportunities [2][3] Company Overview - HeartCore Enterprises is a leading enterprise software and consulting services company headquartered in Tokyo, Japan, offering SaaS solutions and data analytics services to enterprise customers globally [4] - The company's customer experience management platform includes various systems and tools designed to enhance customer engagement and experience [4] - HeartCore also provides digital transformation services, including robotics process automation and consulting services to assist Japanese companies in going public in the U.S. [4]

Core Insights - HeartCore Enterprises, Inc. expects Q3 2024 revenues to be between $17 million and $19 million, marking an increase of 263% to 305% compared to $4.7 million in Q3 2023 [2] - The company anticipates Q3 2024 net income to be between $9 million and $11 million, a significant turnaround from a net loss of $2.5 million in the same quarter last year [2] - For the nine months ended September 30, 2024, revenues are projected to be between $26 million and $28 million, reflecting a 40% to 51% increase from $18.5 million in the same period last year [2] Financial Performance - Q3 2024 revenue breakdown includes $4 million from Software Related Business and $13 million to $15 million from Go IPO Business [2] - The Go IPO Business is expected to generate approximately $12 million to $14 million in revenues from warrants issued by SBC Medical Group Holdings Incorporated [2] - The company has three additional Go IPO deals expected to close in the coming months, indicating a positive outlook for future revenue growth [2] Business Segments - HeartCore's revenue streams include on-premise software, maintenance and support services, SaaS, software development, and customized software services under the Software Related Business [2] - The Go IPO Business focuses on consulting services to assist Japanese companies in going public in the U.S. [3] - The company is shifting towards multi-year software licensing agreements starting in 2024, which is anticipated to boost revenues in the Software Related Business [2]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2024 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ______, 20___, to _____, 20___. Commission File Number 001-41272 | --- | --- | --- | |----------------------------------------------------------------------------|----------- ...

NEW YORK and TOKYO, Aug. 14, 2024 (GLOBE NEWSWIRE) -- HeartCore Enterprises, Inc. (Nasdaq: HTCR) ("HeartCore" or "the Company"), a leading enterprise software and consulting services company based in Tokyo, reported financial results for the second quarter ended June 30, 2024. Second Quarter 2024 and Recent Operational Highlights Partnered with INCUDATA Corp. to enhance corporate digital marketing strategies Announced Go IPO Client, BloomZ, began trading on the Nasdaq Stock Exchange Authorized second divide ...

Exhibit 99.1 HeartCore Reports Second Quarter 2024 Financial Results NEW YORK and TOKYO, August 14, 2024 (GLOBE NEWSWIRE) – HeartCore Enterprises, Inc. (Nasdaq: HTCR) ("HeartCore" or "the Company"), a leading enterprise software and consulting services company based in Tokyo, reported financial results for the second quarter ended June 30, 2024. Second Quarter 2024 and Recent Operational Highlights ● Partnered with INCUDATA Corp. to enhance corporate digital marketing strategies ● Announced Go IPO Client, B ...