HeartSciences Inc.

Listed Company

HSCSWCIK 0001468492NasdaqEmerging GrowthOrthopedic, Prosthetic & Surgical Appliances & SuppliesTexasFY ends Apr 30

Period

FY 2025

Revenue

$4.3K

Net Income

$-8.77M

Total Assets

$4.22M

Equity

$205.2K

Shares Out

3.18M

Op. Cash Flow

$-7.41M

Business

HeartSciences Inc. is a medical technology company applying AI‑based algorithms to 12‑lead ECG signals to expand and improve ECG clinical utility. It develops the MyoVista wavECG device, proprietary AI‑ECG algorithms and the MyoVista Insights Cloud Platform to host internal and third‑party algorithms and manage ECGs. The company operates through product development and licensing of algorithms, hardware development of the MyoVista wavECG, cloud platform services, and R&D collaborations and partnerships. Its initial commercial focus is the U.S. and European markets using direct U.S. sales and international medical device distributors, with deployments across frontline, primary care, hospitals and cardiology settings.

Summary from filing dated 2025-07-24

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-04-30	FY 2024 2024-04-30	FY 2023 2023-04-30	FY 2022 2022-04-30
Revenue	4,350	18,600	5,150	14,373
Cost of sales	1,880	6,081	2,796	7,890
Gross margin	2,470	12,519	2,354	6,483
Research and development	4	3	2	3
Selling, general and administrative	4	3	4	2
Total operating expenses	8	6	6	5
Loss from operations	−8	−6	−6	−5
Interest expense	−500,453	−354,080	—	—
Other income	87,795	54,642	1,848	2,558
Total other expense	−412,658	−299,438	−241,326	−118,861
Net loss	−9	−7	−6	−5
Net loss per share, basic	−9.34	−18.74	−80	−1.45
Net loss per share, diluted	−9.34	−18.74	−80	−1.45
Weighted average common shares outstanding, basic	938,257	352,520	79,506	3
Weighted average common shares outstanding, diluted	938,257	352,520	79,506	3

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-04-30	FY 2024 2024-04-30	FY 2023 2023-04-30	FY 2022 2022-04-30	FY 2021 2021-04-30
Cash and cash equivalents	1	6	2	918,260	—
Accounts receivable	4,350	—	—	2,321	—
Inventory, net	650,267	629,179	676,359	674,139	—
Prepaid expenses	87,443	183,704	143,460	49,384	—
Other current assets	40,374	40,374	40,374	40,374	—
Deferred offering costs	290,925	692,988	175,921	246,400	—
Total current assets	2	7	3	2	—
Property and equipment, net	63,549	97,991	61,428	70,035	—
Intangible assets, net	2	2	—	—	—
Right-of-use assets, net	371,626	461,983	529,224	88,535	—
TOTAL ASSETS	4	10	3	2	—
Accounts payable	318,661	448,183	631,369	694,745	—
Accrued expenses	506,307	398,331	385,857	1	—
Accrued interest expense	177,628	268,813	—	—	—
Operating lease liabilities, current portion	119,518	102,293	29,535	90,968	—
Notes payable	3	500,000	500,000	2	—
Other current liabilities	29,927	34,147	48,596	1,220	—
Total current liabilities	4	2	2	3	—
Operating lease liabilities, long-term portion	314,527	434,045	536,335	—	—
Total long-term liabilities	314,527	434,045	1	5	—
TOTAL LIABILITIES	4	2	3	8	—
COMMITMENTS AND CONTINGENCIES (NOTE 2, 4-6, and 8)	—	—	—	—	—
Common Stock, $0.001 par value, 500,000,000 shares authorized; 1,119,107 shares issued and outstanding as of April 30, 2025 and 676,598 shares issued and outstanding as of April 30, 2024.	1,119	677	101	3,324	—
Additional paid-in capital	76	75	61	48	—
Accumulated deficit	−76	−67	−61	−54	—
TOTAL STOCKHOLDERS EQUITY	205,171	7	230,557	−6	−2
TOTAL LIABILITIES AND STOCKHOLDERS EQUITY	4	10	3	2	—

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-04-30	FY 2024 2024-04-30	FY 2023 2023-04-30	FY 2022 2022-04-30
Depreciation	37,599	27,892	26,915	26,566
Amortization of debt discounts and deferred financing costs	285,870	103,595	61,381	156,719
Amortization - Right-of-use assets, operating lease	90,357	67,241	108,538	—
Stock-based compensation	249,884	405,025	248,307	68,396
Warrants issued to non-employees	170,637	335,633	171,326	—
Issuance of Common Stock for consulting services	—	100,000	—	—
Accounts receivable	−4,350	—	2,321	2,321
Inventory	−21,088	47,180	−2,220	76,635
Prepaid and other current assets	357,507	236,932	385,773	72,524
Deferred offering costs	402,063	−517,067	60,432	246,400
Accounts payable	−129,522	−183,186	37,824	358,964
Accrued liabilities	16,791	−58,690	−310,146	865,343
Other current liabilities	−1,220	—	—	—
Lease liability, operating lease	−102,293	−29,532	−108,538	—
Net cash used in operating activities	−7	−6	−6	−4
Purchase of property and equipment	−3,157	−64,455	−18,308	−1,932
Acquisition of intellectual property - intangibles	−27,031	−60,816	—	—
Net cash used in investing activities	−30,188	−125,271	−18,308	−1,932
Issuance of Common Stock, net of fees	1	10	—	—
Proceeds from shareholder note, net	—	334,249	—	500,000
Principal repayments of operating lease obligations	−264,246	−291,625	—	—
Net cash provided by investing activities	3	10	7	4
Net change in cash and cash equivalents during the year	−5	4	742,207	194,779
Issuance of Common Stock resulting from the Reverse Stock Split	94	—	—	—
Issuance of Common Stock for Series C Preferred Stock conversions	—	2	348	—
Issuance of Common Stock for note exchanges	85,000	1	—	—
Issuance of Common Stock as consideration for acquired intangible assets	—	2	—	—
Financed insurance premiums	261,246	277,176	445,636	—

Filings

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