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HSCSW

HeartSciences Inc.

HSCSW

HeartSciences Inc. • NASDAQ
$0.07 ▼ -7.38% (-0.00)
Market Cap $3.41 M
52w High $0.07
52w Low $0.06
Dividend Yield 0%
P/E -0.06
Volume 15
Outstanding Shares 51.62M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q1-2026 $1.9M ▲ $1.875B ▲ $-2.055M ▲ -108.158% ▲ $-1.58 ▲ $-1.84M ▲
Q4-2025 $4.35K ▲ $1.923M ▼ $-2.094M ▲ -48.146K% ▼ $-1.88 ▲ $-1.882M ▲
Q3-2025 $0 $2.371M ▲ $-2.536B ▼ 0% $-2.57 ▼ $-2.328M ▲
Q2-2025 $0 $1.985M ▼ $-2.083M ▼ 0% $-2.27 ▲ $-1.985B ▼
Q1-2025 $0 $2.042M $-2.052M 0% $-2.64 $-1.996M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q1-2026 $2.792B ▲ $6.437B ▲ $3.296M ▼ $3.141M ▲
Q4-2025 $1.098M ▼ $4.223M ▼ $4.018M ▲ $205.171K ▼
Q3-2025 $2.597M ▼ $5.704M ▼ $3.917M ▲ $1.787M ▼
Q2-2025 $4.052B ▲ $7.777M ▼ $3.761M ▲ $4.017M ▼
Q1-2025 $4.34M $8.191M $2.257M $5.934M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q1-2026 $-2.055B ▼ $-1.953B ▼ $-814K ▼ $3.648B ▲ $1.694B ▲ $-1.953B ▼
Q4-2025 $-2.094M ▲ $-1.591M ▲ $-7.812K ▲ $100.028K ▼ $-1.498M ▼ $-1.598M ▲
Q3-2025 $-2.536M ▲ $-1.62M ▲ $-15.701K ▼ $180.187K ▼ $-1.456M ▼ $-1.636M ▲
Q2-2025 $-4.133B ▼ $-2.184M ▼ $-5.842K ▼ $1.902M ▲ $-287.658K ▲ $-4.203B ▼
Q1-2025 $-2.052M $-2.019M $-833 $551.683K $-1.468M $-2.02M

Five-Year Company Overview

Income Statement

Income Statement HeartSciences appears to be a very early-stage, pre-revenue business. Over the past several years, it has not generated meaningful product or service revenue and has consistently reported operating losses. The pattern looks like a typical development-stage medical device company: expenses for research, staff, and operations without offsetting sales yet. There was also a particularly large loss in an earlier year, which may relate to one-time charges or accounting adjustments. Overall, the income statement shows a company still firmly in the build-and-develop phase, not yet in the commercial, revenue-producing phase.

Balance Sheet

Balance Sheet The balance sheet looks very lean, with only modest reported assets and cash and limited equity. At one point, equity even dipped into negative territory, which can signal accumulated losses exceeding invested capital. On the positive side, there is little to no traditional debt showing up, so the company does not appear heavily leveraged. However, the small asset and cash base suggests a strong dependency on ongoing external funding, such as equity raises or partnerships, to support operations and eventual commercialization.

Cash Flow

Cash Flow Cash flow is negative from operations, reflecting regular cash burn and no offsetting inflows from sales. Free cash flow is also negative, and there is no sign of heavy spending on physical assets yet, which is typical for a software- and algorithm-heavy medtech firm. In practical terms, the company is using cash rather than generating it, and its ability to continue doing so will depend on access to new capital until products reach the market and start to scale.

Competitive Edge

Competitive Edge HeartSciences is aiming at a high-value niche in cardiology: using AI to pull more diagnostic insight out of standard ECGs. Its main advantages are a sizable global patent portfolio, an integrated combination of hardware, cloud software, and proprietary algorithms, and a notable partnership with Mount Sinai that brings exclusive access to algorithms and large ECG datasets. The FDA Breakthrough Device designation for its aortic stenosis algorithm and clear reimbursement codes for AI-ECG analysis, if translated into approvals, could strengthen its differentiation. On the other hand, it operates in a competitive space that includes large medical device and imaging companies, and its position will ultimately depend on clinical performance, regulatory approvals, physician adoption, and integration into hospital workflows.

Innovation and R&D

Innovation and R&D Innovation is clearly the core of this business. The flagship MyoVista wavECG device and the MyoVista Insights cloud platform aim to detect heart problems earlier and more easily than traditional ECGs, using advanced signal processing and AI. The company is building a pipeline of algorithms for various heart conditions, supported by access to extensive clinical data. R&D efforts are also aligned with regulatory pathways, including planned FDA submissions for both hardware and cloud-based algorithms. The risk is that the value of all this work depends heavily on clinical trial outcomes, regulatory decisions, and real-world uptake, but the strategy is focused and technology-driven.

Summary

HeartSciences looks like a classic early-stage medtech innovator: no revenue yet, recurring losses, and ongoing cash burn, but with a focused technological vision and a strong emphasis on AI-driven cardiac diagnostics. Financially, it is not yet self-sustaining and will likely rely on additional funding. Strategically, its strengths lie in intellectual property, partnerships, and a product ecosystem designed to plug into existing ECG workflows and reimbursement structures. The main uncertainties revolve around regulatory timing, clinical validation, competitive response, and how quickly healthcare providers will adopt AI-ECG tools once they become commercially available.