HeartSciences (HSCS) Q1 2026 earnings summary

Executive summary

• Focused on AI-driven ECG technology, launching the MyoVista Insights Cloud Platform and MyoVista wavECG device, with SaaS-based recurring revenue models and integration with existing ECG devices and EHR systems.

• Achieved FDA Breakthrough Device Designation for aortic stenosis algorithm and launched MyoVista Insights during FQ1 2026.

• Partnerships with Mount Sinai and Rutgers to license and develop AI-ECG algorithms.

• CPT reimbursement codes for AI-ECG algorithms approved by CMS, supporting broader adoption.

• Expanded IP portfolio to 44 granted patents worldwide, including foundational patents for echocardiography parameter estimation.

Financial highlights

• Revenue for the quarter ended July 31, 2025 was $2,000, with cost of sales at $1,000, resulting in a gross margin of $1,000; no meaningful revenue reported for FQ1 2026.

• Net loss for the quarter was $2.1 million, flat year-over-year.

• Cash and cash equivalents increased to $2.8 million as of July 31, 2025, up from $1.1 million at April 30, 2025.

• Raised $0.8 million post-quarter through Reg A+ offering and converted $0.7 million of debt into equity.

• Stockholders’ equity stood at $3.1 million.

Outlook and guidance

• Management expects continued investment in R&D and clinical studies, with additional funding required for FDA clearance and commercialization.

• Phase 2 rollout of MyoVista Insights to coincide with launch of a cloud-based algorithm for reduced ejection fraction, targeting FDA submission in H1 2026.

• Regulatory strategy involves separate FDA submissions for device and software to accelerate clearance.

• Current cash is insufficient to fund operations for the next twelve months; substantial doubt exists about ability to continue as a going concern.

• Plans to raise capital through equity, debt, or strategic partnerships, but no assurance of success.