Revenue: As of FY2026 Q3, the actual value is USD 0.

EPS: As of FY2026 Q3, the actual value is USD -0.63.

EBIT: As of FY2026 Q3, the actual value is USD -1.873 M.

HeartSciences Inc. operates in a single segment focused on cardiovascular diagnostic technology, including AI-ECG solutions .

Revenue and Gross Margin

For the nine months ended January 31, 2026, HeartSciences Inc. reported revenues of $4,000, with a cost of sales of $2,000, resulting in a gross margin of $2,000 . There were no revenues or cost of sales for the same period in 2025, nor for the three months ended January 31, 2026, or 2025 .

Operating Expenses

• Research and Development (R&D) Expenses: R&D expenses decreased to $639,000 for the three months ended January 31, 2026, a 38% reduction from $1,033,000 in the prior year . For the nine months ended January 31, 2026, R&D expenses were $2,363,000, a 32% decrease from $3,457,000 in 2025, primarily due to reduced cloud consulting costs and capitalized software costs for the MyoVista Insights platform .
• Selling, General and Administrative (SG&A) Expenses: SG&A expenses were $1,290,000 for the three months ended January 31, 2026, a 4% decrease from $1,338,000 in 2025 . For the nine months ended January 31, 2026, SG&A expenses increased by 18% to $3,516,000 from $2,975,000 in 2025, mainly due to an approximate $800,000 increase in stock compensation expense, partially offset by reductions in professional fees .
• Total Operating Expenses: Total operating expenses for the three months ended January 31, 2026, were $1,929,000, a 19% decrease from $2,371,000 in 2025 . For the nine months ended January 31, 2026, total operating expenses decreased by 9% to $5,879,000 from $6,432,000 in 2025 .

Loss from Operations

HeartSciences Inc. reported a loss from operations of - $1,929,000 for the three months ended January 31, 2026, an improvement from - $2,371,000 in the same period of 2025 . For the nine months ended January 31, 2026, the loss from operations was - $5,876,000, compared to - $6,432,000 in 2025 .

Other Income (Expense)

• Interest Expense: Interest expense for the three months ended January 31, 2026, was - $62,000, a 66% decrease from - $179,000 in 2025 . For the nine months ended January 31, 2026, interest expense increased by 64% to - $525,000 from - $320,000 in 2025, including a write-off of approximately $264,000 of unamortized original issue discount and debt issuance costs .
• Other Income: Other income, primarily from interest on cash balances, was $5,000 for the three months ended January 31, 2026, and $10,000 for the nine months ended January 31, 2026 .

Net Loss

The net loss for the three months ended January 31, 2026, was - $1,985,000, an improvement from - $2,536,000 in the prior year . For the nine months ended January 31, 2026, the net loss was - $6,391,000, compared to - $6,671,000 in 2025 .

Cash Flow

• Net Cash Used in Operating Activities: - $5,750,000 for the nine months ended January 31, 2026, primarily due to the net loss, offset by non-cash expenses and changes in operating assets and liabilities, which is comparable to - $5,822,000 used in the same period in 2025 .
• Net Cash Used in Investing Activities: - $44,000 for the nine months ended January 31, 2026, compared to - $22,000 in 2025 .
• Net Cash Provided by Financing Activities: $8,094,000 for the nine months ended January 31, 2026, largely from the issuance of Series D Preferred Stock and warrants, and net proceeds from the $3.6M Streeterville Note, an increase from $2,634,000 in 2025 .
• Net Change in Cash and Cash Equivalents: A net increase of $2,299,000 for the nine months ended January 31, 2026, bringing the cash and cash equivalents balance to $3,397,000 .

Strategic Outlook and Liquidity

HeartSciences Inc. continues to incur losses and negative cash flows from operations, with an accumulated deficit of - $82.5 million as of January 31, 2026, raising substantial doubt about its ability to continue as a going concern . The company’s strategy involves raising capital through additional equity, debt, or strategic partnerships to fund operations, continued development and commercialization of MyoVista Insights, and regulatory clearance of the MyoVista wav ECG device and its AI-ECG algorithm . The MyoVista Insights platform was launched in mid-2025, and the MyoVista wav ECG device was submitted for FDA 510(k) premarket clearance in December 2025 . The company expects to generate revenues from installation fees, SaaS usage fees, and AI-ECG algorithms through MyoVista Insights, but management believes current resources are insufficient to fund operations for the next twelve months .