10-K · July 23, 2026
HeartSciences is positioning MyoVista Insights as a vendor-neutral ECG workflow and AI-algorithm marketplace, with its first two commercial deployments signed and an Epic designation supporting enterprise positioning.…
Earnings analysis · 10-Q
HSCS earnings analysis
Filed September 14, 2026 · Our reading of the company's report
The latest report
The filing presents a highly challenged financial and operating profile: the company reported a $3.2 million quarterly net loss, an $88.4 million accumulated deficit, a $2.0 million stockholders’ deficit, and a $4.8…
Read full summary
The filing presents a highly challenged financial and operating profile: the company reported a $3.2 million quarterly net loss, an $88.4 million accumulated deficit, a $2.0 million stockholders’ deficit, and a $4.8 million working-capital deficit as of July 31, 2026. Nasdaq has identified a stockholders’ equity deficiency against its $2.5 million requirement, with a September 18, 2026 deadline to submit a compliance plan. The company also reported three material weaknesses that rendered disclosure controls ineffective, while shifting strategic resources toward MyoVista Insights and away from the MyoVista wavECG device.
Gross and operating margin
How much of each revenue dollar the business keeps.
One point per quarterly or annual filing. Both margins are shares of that report's revenue.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
What stood out
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Internal-control remediation underway
Management is pursuing remediation of three identified internal-control weaknesses: inadequate approval and review processes, insufficient U.S. GAAP and SEC accounting resources, and insufficient staffing for segregation of duties and oversight.
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Transaction could support Nasdaq compliance
The company states that its plan to consummate the Proposed Transaction may serve as the basis for Nasdaq compliance, with up to 180 calendar days from August 4, 2026, or until January 31, 2027, available if Nasdaq accepts the plan.
What to watch
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Nasdaq equity deficiency
On August 4, 2026, Nasdaq notified the company that it failed Rule 5550(b)(1), which requires at least $2.5 million of stockholders’ equity. The company reported stockholders’ equity of only $226,060 in its 2026 Annual Report and must submit a compliance plan by September 18, 2026.
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Severe losses and liquidity pressure
The company reports a net loss of $3.2 million for the three months ended July 31, 2026, an accumulated deficit of $88.4 million, a stockholders’ deficit of $2.0 million, and a working-capital deficit of $4.8 million. It states that it expects continued significant operating losses for the foreseeable future.
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Material internal-control weaknesses
Disclosure controls were determined to be ineffective as of July 31, 2026 because of three material weaknesses, and management states it cannot assure that remediation measures will significantly improve or remediate them. The weaknesses could result in financial-statement misstatements and impair access to capital markets.
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Shift away from wavECG commercialization
The company states that resources are now directed principally toward developing and commercializing MyoVista Insights and that it does not intend to commit significant additional resources to commercialization of the MyoVista wavECG device. It recorded a reserve against MyoVista wavECG inventory during the three months ended July 31, 2026.
Management's outlook
The provided 10-Q text contains no quantitative revenue or EPS outlook and does not state a change to prior company guidance. The company indicates that the Proposed Transaction may support Nasdaq compliance, but no transaction closing date or financial guidance is provided.
Earlier filings 4
10-Q · March 16, 2026
HeartSciences Inc. reported no revenue for Q3 2026, continuing a trend of negative performance with a diluted EPS loss of -0.63, albeit an improvement from previous losses. Operating expenses were reduced compared to…
10-Q · December 15, 2025
HeartSciences Inc. reported a revenue of $2.419 million for the quarter ending October 31, 2025, reflecting a decline from previous periods despite an increase in EPS loss to -$0.85. The company continues to face…
10-Q · September 11, 2025
HeartSciences Inc. reported revenues of $4.35 million for Q4 2025, reflecting a notable improvement compared to $2,000 in Q4 2024. The company incurred a net loss of $2.06 million, a slight increase from the prior…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.