Revenue: As of FY2025 Q3, the actual value is USD 3 M, missing the estimate of USD 5.907 M.EBIT: As of FY2025 Q3, the actual value is USD 0.<h3>Third Quarter 2025 Financial Results</h3><ul><li>Revenues: $3.0 million, a significant decrease from $16.2 million in the same period last year, primarily due to the absence of the $13 million signature warrant revenue from a large GO IPO deal in the prior period.</li><li>Gross Profit: $1.5 million, down from $14.0 million in the same period last year, mainly due to decreased gross profit from GO IPO services.</li><li>Operating Expenses: Decreased to $1.5 million from $1.7 million last year, attributed to various expense reductions.</li><li>Net Income: $0.4 million, compared to $10.8 million in the same period last year.</li><li>Adjusted EBITDA: $0.5 million, a decrease from $12.0 million in the same period last year.</li><li>Cash and Cash Equivalents: $1.5 million as of September 30, 2025, compared to $2.0 million on December 31, 2024. On a pro forma basis, as of November 18, 2025, the Company has approximately $2.5 million after the one-time payment to stockholders.</li></ul><h3>Nine Months 2025 Financial Results</h3><ul><li>Revenues: $7.1 million, down from $21.3 million in the same period last year, primarily due to the absence of the $13 million signature warrant revenue from a large GO IPO deal in the prior period.</li><li>Gross Profit: $2.6 million, compared to $15.1 million in the same period last year, mainly due to decreased gross profit from GO IPO services.</li><li>Operating Expenses: Decreased to $4.5 million from $5.5 million last year, primarily due to reductions in general and administrative, selling, and research and development expenses.</li><li>Net Loss: - $1.7 million, compared to a net income of $7.1 million in the same period last year.</li><li>Adjusted EBITDA: - $0.6 million, compared to $10.4 million in the same period last year.</li></ul><h3>Cash Flow</h3><ul><li>Operating Cash Flow: Net cash flows used in operating activities of continuing operations were - $2,980,958 for the nine months ended September 30, 2025.</li><li>Investing Cash Flow: Net cash flows provided by investing activities of continuing operations were $1,071,732 for the nine months ended September 30, 2025.</li><li>Financing Cash Flow: Net cash flows provided by financing activities of continuing operations were $1,953,032 for the nine months ended September 30, 2025.</li></ul><h3>Outlook / Guidance</h3>HeartCore Enterprises, Inc. has strategically divested its software business subsidiary, HeartCore Japan, to focus on its Go IPO business, which is expected to position the company for long-term success. The company anticipates continued expansion of its IPO consulting business in Japan and Korea, supported by a strong pipeline and demand from prospective clients.

Heartcore Enterprises | 8-K: FY2025 Q3 Revenue Misses Estimate at USD 3 M