HeartSciences (HSCS) Q3 2026 earnings summary

Executive summary

• Focused on AI-driven ECG technology, with MyoVista Insights platform launched, major upgrade released in March 2026, and MyoVista wavECG device submitted for FDA clearance in December 2025.

• Minimal revenues to date, primarily from international device sales; U.S. sales pending regulatory approval and initial commercial traction expected in 2026.

• Ongoing need for additional funding to support operations, product development, and regulatory processes.

• Focused on establishing reference sites, enabling AI algorithm integration, and generating initial revenues.

Financial highlights

• Net loss of $6.4 million for the nine months ended January 31, 2026, compared to $6.7 million loss in the prior year period.

• Revenue of $4,000 and cost of sales of $2,000 for the nine months ended January 31, 2026; no meaningful revenue in the prior year period.

• Research and development expenses decreased 32% year-over-year to $2.4 million; selling, general, and administrative expenses increased 18% to $3.5 million.

• Cash and cash equivalents were $3.4 million as of January 31, 2026, up from $1.1 million at April 30, 2025.

• Accumulated deficit reached $82.5 million as of January 31, 2026.

Outlook and guidance

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

• Plans to raise additional capital through equity, debt, or strategic partnerships, but no assurance such funding will be available.

• Future revenue growth depends on FDA clearance and commercialization of MyoVista wavECG and AI algorithms, with key customer wins and initial revenues expected in 2026.

• Plans to host an investor call to demonstrate the platform and detail commercialization strategy.