Heart Test Laboratories, Inc. (HSCS)
NASDAQ:HSCS
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Heart Test Laboratories, Inc.
(NASDAQ:HSCS)
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Rating:39Underperform
Price Target:
$2.00
▼(-40.30% Downside)
Action:ReiteratedDate:05/08/26
HSCS scores low primarily due to severely weak financial performance (minimal revenue scale, massive losses, high leverage, and heavy cash burn). Technicals also point to a continued downtrend, while valuation is constrained by negative earnings and no dividend support. A recent negative corporate event adds modest additional risk despite management indicating no expected operational impact.
Positive Factors
Regulatory / Product Commercialization
A 510(k) submission is a structural milestone that, if cleared, enables regulatory market access for the MyoVista device. Clearance would shift the company toward commercialization, create a path to recurring device sales and service revenues, and materially alter long-term revenue prospects.
Negative Factors
Severe Cash Burn
Persistently large negative operating cash flow indicates the business cannot self-fund operations or commercialization. This creates ongoing reliance on external financing, raising refinancing and dilution risk, and constrains durable investment in commercialization, R&D, and go-to-market programs.
Read all positive and negative factors
Positive Factors
Negative Factors
Regulatory / Product Commercialization
A 510(k) submission is a structural milestone that, if cleared, enables regulatory market access for the MyoVista device. Clearance would shift the company toward commercialization, create a path to recurring device sales and service revenues, and materially alter long-term revenue prospects.
Read all positive factors
Heart Test Laboratories, Inc. (HSCS) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$6.15M
Dividend YieldN/A
Average Volume (3M)58.86K
Price to Earnings (P/E)―
Beta (1Y)1.40
Revenue GrowthN/A
EPS Growth51.71%
CountryUS
Employees15
SectorHealthcare
Sector Strength45
IndustryMedical - Devices
Share Statistics
EPS (TTM)-4.94
Shares Outstanding3,184,700
10 Day Avg. Volume93,774
30 Day Avg. Volume58,857
Financial Highlights & Ratios
PEG Ratio<0.01
Price to Book (P/B)16.05
Price to Sales (P/S)757.08
P/FCF Ratio-0.44
Enterprise Value/Market Cap-551.37
Enterprise Value/Revenue-390.93K
Enterprise Value/Gross Profit36.87K
Enterprise Value/Ebitda442.64
Forecast
1Y Price Target
$10.00Price Target Upside198.51% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering2
EPS Forecast (FY)-3.47
Revenue Forecast (FY)$600.00K
Heart Test Laboratories, Inc. Business Overview & Revenue Model
Company Description
HeartSciences Inc., a medical technology company, focuses on applying AI-based technology to an ECG to expand and improve clinical usefulness. It develops artificial intelligence-enhanced electrocardiography (AI-ECG) solutions, an algorithm to det...
How the Company Makes Money
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Heart Test Laboratories, Inc. Financial Statement Overview
Summary
Income Statement
3
Very Negative
Balance Sheet
8
Very Negative
Cash Flow
2
Very Negative
| Breakdown | TTM | Apr 2025 | Apr 2024 | Apr 2023 | Apr 2022 | Apr 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 8.67K | 4.35K | 18.60K | 5.15K | 14.37K | 25.60K |
| Gross Profit | -91.91K | -125.48K | -82.61K | -24.56K | -20.08K | -18.67K |
| EBITDA | -7.66M | -8.14M | -6.16M | -6.08M | -4.43M | -2.29M |
| Net Income | -8.49M | -8.77M | -6.61M | -6.35M | -4.83M | -2.45M |
Balance Sheet | ||||||
| Total Assets | 7.55M | 4.22M | 9.50M | 3.29M | 2.09M | 1.93M |
| Cash, Cash Equivalents and Short-Term Investments | 3.40B | 1.10M | 5.81M | 1.66M | 918.26K | 723.48K |
| Total Debt | 3.87M | 2.99M | 1.04M | 1.57M | 6.16M | 3.08M |
| Total Liabilities | 4.90M | 4.02M | 2.19M | 3.06M | 8.15M | 3.84M |
| Stockholders Equity | 2.65M | 205.17K | 7.32M | 230.56K | -6.06M | -1.91M |
Cash Flow | ||||||
| Free Cash Flow | -5.76B | -7.44M | -6.20M | -5.79M | -3.65M | -2.45M |
| Operating Cash Flow | -5.75B | -7.41M | -6.07M | -5.77M | -3.64M | -2.45M |
| Investing Cash Flow | -15.81M | -30.19K | -125.27K | -18.31K | -1.93K | -712.00 |
| Financing Cash Flow | 1.52B | 2.73M | 10.34M | 6.53M | 3.84M | 2.68M |
Heart Test Laboratories, Inc. Technical Analysis
Negative
3.35
Price Trends
2.58
Negative
2.74
Negative
3.11
Negative
Market Momentum
-0.16
Positive
40.86
Neutral
35.74
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HSCS, the sentiment is Negative. The current price of 3.35 is above the 20-day moving average (MA) of 2.25, above the 50-day MA of 2.58, and above the 200-day MA of 3.11, indicating a bearish trend. The MACD of -0.16 indicates Positive momentum. The RSI at 40.86 is Neutral, neither overbought nor oversold. The STOCH value of 35.74 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for HSCS.
Heart Test Laboratories, Inc. Risk Analysis
Heart Test Laboratories, Inc. disclosed 64 risk factors in its most recent earnings report. Heart Test Laboratories, Inc. reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Heart Test Laboratories, Inc. Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
45 Neutral | $45.70M | -1.01 | 1.02% | ― | -97.63% | -93.90% | |
44 Neutral | $8.25M | -0.92 | -193.22% | ― | 20.35% | 90.95% | |
43 Neutral | $6.86M | -1.19 | -84.30% | ― | -23.81% | 32.96% | |
42 Neutral | $886.17K | 31.98 | -476.74% | ― | -8.54% | 40.91% | |
39 Underperform | $6.15M | -1.29 | -220.42% | ― | ― | 51.71% | |
| ― | $3.99M | -0.38 | -228.82% | ― | ― | 67.32% |
* Healthcare Sector Average
HSCS
Heart Test Laboratories, Inc.
1.93
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-44.38%
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Heart Test Laboratories, Inc. Corporate Events
Executive/Board ChangesShareholder Meetings
HeartSciences Stockholders Approve Director Election and Equity Plan
Neutral
May 6, 2026
On April 30, 2026, HeartSciences Inc. held its annual meeting of stockholders for the fiscal year ended April 30, 2025, where shareholders elected Andrew Simpson as a Class III director for a three-year term and approved an increase in shares rese...
Business Operations and StrategyExecutive/Board Changes
HeartSciences COO and Longtime Board Member Passes Away
Negative
Apr 3, 2026
On April 1, 2026, HeartSciences Inc. announced that Chief Operating Officer, Corporate Secretary and longtime board member Mark Hilz passed away at age 67 after a period of illness, following his service on the board since 2013 and in executive ro...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.