Business
HeartCore Reports Second Quarter 2024 Financial Results
NEW YORK and TOKYO, Aug. 14, 2024 (GLOBE NEWSWIRE) -- HeartCore Enterprises, Inc. (Nasdaq: HTCR) (“HeartCore” or “the Company”), a leading enterprise software
About this update from Heartcore Enterprises, Inc.
[{"type":"text","content":"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 strategiesAnnounced Go IPO Client, BloomZ, began trading on the Nasdaq Stock ExchangeAuthorized second dividend payment of $0.02 per sharePartnered with Hitachi Systems, Ltd. to offer combined package of HeartCore CMS and GRED Web Security Assessment CloudAnnounced and hosted seminar on U.S. exchange listing strategies for Japanese companies with Akerman LLP and Gateway GroupSold a Go IPO Client Warrant for $9 million that will be recognized as revenue when the client becomes a publicly listed company, which is expected to occur in Fall 2024Disbursed first dividend payment of $0.02 per share on May 3, 2024Expanded partnership with Heart-Tech HealthEngaged with Onside Content to develop AI-based content marketing evaluation and reporting index solutionSigned 14th Go IPO ClientFormed an Artificial Intelligence Software Development Division Management Commentary“We achieved significant strides in our Go IPO business, highlighted by the successful listing of one of our clients on the Nasdaq, which is the first Japanese IPO since September 2023 and the third IPO since the inception of this business,” said HeartCore CEO Sumitaka Kanno Yamamoto. “We are hopeful that this milestone marks the genesis of a second wave of Japanese IPOs, as the Go IPO pipeline continues to show promising developments. Currently, we have three to four clients scheduled to go public by the end of the year. These Go IPO deals are expected to be instrumental in our second-half performance, and with an optimistic outlook on the resurgence of Japanese IPOs, we anticipate that our Go IPO business will play a key role in driving profitable returns in the upcoming quarter.” “With 20% organic growth this quarter, and 30% organic growth expected for 2024, our software division continues to remain a stable growth engine and reliable source of cash flow, serving as the lifeblood of HeartCore’s business operations. In addition, our strategic partnerships with Hitachi Systems an...