Japan’s HeartCore Enterprises (HTCR) makes Nasdaq debut, stocks down 2%

3 min read | February 11, 2022 06:11 AM AEDT | By Rupam Roy

Japan’s HeartCore Enterprises (HTCR) makes Nasdaq debut, stocks down 2% — Image source: Photo by hitesh choudhary from Pexels

HeartCore’s Services

HeartCore’s customer management platform, CXM, has a wide range of features for marketing, sales, and content management services. It provides tools and integrations that aid other businesses in improving their customer experience while driving more engagement. It specializes in domains like robotic process automation, process-and-task mining, etc., to accelerate its clients’ business operations.

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HeartCore is offering all the shares of its common stock. The offering is likely to close by February 14, depending on the satisfactory closing conditions of the customers.

The company is trading its stocks on Nasdaq under the ticker symbol HTCR. HeartCore plans to use the gross proceeds from the IPO to fund the development of its technologies, acquire other businesses, working capital, and other general corporate purposes.

Boustead Securities, LLC is the sole managing underwriter and book-runner for the IPO.

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Company financials

The company reported revenue of US$8.44 million for the nine months ended September 30, 2021, compared to revenue of US$6.66 million in the year-ago quarter. Its net income was US$414,826 compared to US$398,315 in the same period in the previous year.

As of September 30, 2021, the company's cash and cash equivalents were US$3.09 million.

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Bottomline

The US technology sector saw significant growth in 2021 but declined this year on concerns over Fed's anticipated interest rate hikes.

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