Heartsciences Inc. released its annual financial results for the fiscal year ending April 30, 2025. The company reported a significant decline in revenues, which fell to $4,000 from $19,000 in the previous fiscal year, marking a 79% decrease. The cost of sales also decreased from $6,000 to $2,000, representing a 67% reduction. The net loss for the fiscal year 2025 was reported at $8.765 million, an increase from the $6.605 million net loss in the prior year, reflecting a 33% rise. Operating expenses saw a notable increase, rising 32% to $8.355 million from $6.319 million in the previous year. This increase was driven primarily by a 52% rise in research and development expenses, which amounted to $4.386 million, and a 15% rise in selling, general, and administrative expenses, totaling $3.969 million. The company attributed its revenue generation primarily to supplier relationships established outside the United States, aimed at gathering feedback during product development and improvement of the MyoVista wavECG technology. No specific outlook or guidance for future periods was provided in the report.
Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Heartsciences Inc. published the original content used to generate this news brief via EDGAR, the Electronic Data Gathering, Analysis, and Retrieval system operated by the U.S. Securities and Exchange Commission (Ref. ID: 0000950170-25-098326), on July 24, 2025, and is solely responsible for the information contained therein.
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