Business
HeartCore Reports Second Quarter 2023 Financial Results
NEW YORK and TOKYO, Aug. 14, 2023 (GLOBE NEWSWIRE) -- HeartCore Enterprises, Inc. (Nasdaq: HTCR) (“HeartCore” or “the Company”), a leading software
About this update from Heartcore Enterprises, Inc.
[{"type":"text","content":"NEW YORK and TOKYO, Aug. 14, 2023 (GLOBE NEWSWIRE) -- HeartCore Enterprises, Inc. (Nasdaq: HTCR) (“HeartCore” or “the Company”), a leading software development company offering Customer Experience Management Platform (“CXM Platform”) and Digital Transformation (“DX”), reported financial results for the second quarter ended June 30, 2023. Second Quarter 2023 and Recent Operational Highlights Partnered with INTRIX, Inc. to license HeartCore’s Content Management System (CMS).Executed a deal with Honda Trading Corporation for HeartCore’s task mining software solution, CONTROLIO, a web-based cloud system for employee monitoring and productivity enhancement.Presented virtually and held one-on-one meetings at the Sidoti & Co.’s June Virtual Small-Cap Conference.Hosted a U.S. Exchange Listing seminar in Tokyo, Japan on June 9, 2023 to a myriad of Japanese companies on the realities of going public on U.S. Exchanges in addition to an overview of its very successful Go IPO consulting service.Partnered with Toppan Inc. to strengthen and expand Toppan’s digital marketing business utilizing HeartCore’s Contents Management System, in addition to both companies collaborating on joint business ventures.Signed tenth Go IPO consulting service agreement with rYojbaba Inc.Second quarter revenue grew 91% compared to same period 2022.Year-to-Date revenue grew 180% compared to same period 2022.Q2 2023 EPS loss of $0.04 was primarily due to lower consulting services revenue as none of HeartCore’s clients’ pending IPOs were completed in the second quarter.YTD 2023 Company remained profitable and expects significant growth in second half 2022. Management Commentary“This past quarter reflected a period of growth from our enterprise software division, in addition to a time of important back-end movement within our Go IPO segment as our two-pronged growth strategy continues to manifest into full effect,” said CEO Sumitaka Yamamoto. “As evidenced by growth of 102% and successfully hitting profitability within our enterprise software vertical, we continue to garner new customers and capitalize on synergistic opportunities with Sigmaways. Though we didn’t have any Go IPO clients go public in Q2, we have a significant amount of progress being made behind the scenes and expect to see a robust second half of the year and beyond. I am very encouraged by the result...