5 years of revenue, profit, cash flow and balance-sheet history through FY2026,
from SEC filings — with a computed, factual read of the trend.
Updated Overview →
Growth & profitability
Revenue has declined 26.0% per year over the past 4 years.
Operating margin has contracted, at -194787.4% in the latest year.
Financial health
Operating income covered interest expense -11.2× in the latest year.
The company is unprofitable and has less than a year of cash runway at its current free-cash-flow burn.
Revenue & net income
RevenueNet income
Margins (gross / operating / net)
GrossOperatingNet
Return on equity & assets (ROE / ROA)
ROEROA
Free cash flow (CFO − capex)
Free cash flow
Cash vs total debt
CashTotal debt
Cash flow: operating / investing / financing
OperatingInvestingFinancing
Key annual figures
FY
Revenue
Net income
Gross M
Op M
ROE
ROA
FCF
Total debt
Cash
2026
$4319
-$9M
59.1%
-194787.4%
-4044.0%
—
-$7M
—
$2M
2025
$4350
-$9M
56.8%
-192013.1%
-4272.2%
-207.6%
-$7M
—
$1M
2024
$18600
-$7M
67.3%
-33902.0%
-90.3%
-69.5%
-$6M
—
$6M
2023
$5150
-$6M
45.7%
-118698.3%
-2756.1%
-193.3%
-$6M
—
$2M
2022
$14373
-$5M
45.1%
-32765.6%
79.7%
-231.1%
-$4M
—
$918260
Revenue & net income
RevenueNet income
Margins (gross / operating / net)
GrossOperatingNet
Return on equity & assets (ROE / ROA)
ROEROA
Free cash flow (CFO − capex, quarterly)
Free cash flow
Cash vs total debt
CashTotal debt
Cash flow: operating / investing / financing
OperatingInvestingFinancing
Key quarterly figures
Quarter
Revenue
Net income
Gross M
Op M
ROE
ROA
FCF
Total debt
Cash
Apr '26
$0
-$3M
—
—
-1216.9%
—
-$2M
—
$2M
Jan '26
$0
-$2M
—
—
-74.9%
-26.3%
—
—
$3M
Oct '25
$2419
-$2M
58.3%
-85713.2%
-56.2%
-39.2%
—
—
$2M
Jul '25
$1900
-$2M
60.0%
-98637.8%
-65.4%
-31.9%
—
—
$3M
Apr '25
$4350
-$2M
56.8%
-44147.1%
-1020.8%
-49.6%
-$2M
—
$1M
Jan '25
$0
-$3M
—
—
-142.0%
-44.5%
-$2M
—
$3M
Oct '24
—
-$2M
—
—
-51.9%
-26.8%
—
—
$4M
Jul '24
—
-$2M
—
—
-34.6%
-25.0%
—
—
$4M
Apr '24
$0
-$2M
—
—
-25.2%
-19.4%
-$2M
—
$6M
Jan '24
$14700
-$2M
69.0%
-10376.7%
-19.0%
-15.2%
-$2M
—
$7M
Oct '23
$3900
-$2M
61.0%
-40254.9%
106.0%
-73.8%
-$990139
—
$100144
Jul '23
—
-$1M
—
—
263.0%
-52.6%
-$1M
—
$575654
Apr '23
$0
-$2M
—
—
-708.0%
-49.7%
-$2M
—
$2M
Jan '23
$1950
-$1M
61.0%
-67143.7%
520.4%
-38.6%
-$1M
—
$2M
Oct '22
$0
-$2M
—
—
-166.9%
-37.9%
-$1M
—
$3M
Jul '22
$3200
-$2M
36.4%
-44690.5%
-54.5%
-28.3%
-$2M
—
$4M
Apr '22
$4149
-$2M
69.1%
-47669.6%
33.9%
-98.3%
-$1M
—
$918260
Jan '22
$2740
-$1M
68.8%
-40156.5%
30.2%
—
-$966278
—
—
Oct '21
$0
-$1M
—
—
30.1%
—
—
—
—
Jul '21
$7484
-$501851
23.1%
-9011.8%
20.8%
—
—
—
—
Valuation over time
How the market has priced HSCS against its own fundamentals since 2023-03 —
each month-end's share price set against the most recent annual filing, so the multiple moves
as price runs ahead of (or behind) earnings. Split-adjusted.
The price-to-sales ratio has fallen from 25916.2× (Mar '23) to 3778.8× (Sep '26).
Price / sales (P/S)
P/S
Frequently asked questions
Is HSCS growing its revenue and profit?
Over the past 4 years, HeartSciences Inc.'s revenue has declined 26.0% per year. These are computed facts, not advice.
How much debt does HSCS have?
As of FY2026, HeartSciences Inc. reported — of total debt against $2M of cash; operating income covered interest expense -11.2×.
What is HSCS's profit margin?
In FY2026, gross margin was 59.1%, operating margin -194787.4%, and net margin -211666.5%.
Where does this data come from?
All figures are extracted from the company’s SEC EDGAR/XBRL filings — 10-K annual reports and 10-Q quarterly reports (use the Annual / Quarterly toggle). Quarterly figures are derived from the as-filed statements (year-to-date amounts are differenced into discrete quarters). Growth rates and ratios are computed by tradmap; nothing here is investment advice.
Source: SEC EDGAR / XBRL (10-K + 10-Q filings) · prices EOD (Databento), corporate-action-adjusted ·
growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price
against the latest annual filing. Informational only — not investment advice.