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Heart Test Laboratories, Inc.
(NASDAQ:HSCS)
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Rating:40Underperform
Price Target:
$2.00
▼(-40.30% Downside)
Action:Reiterated
Date:06/02/26
The score is primarily driven by extremely weak financial performance (minimal revenue, very large losses, high leverage, and heavy cash burn). Technicals are also weak despite oversold signals, valuation is constrained by negative earnings and no dividend support, and the recent executive loss adds incremental risk.
Positive Factors
FDA 510(k) submission for MyoVista wavECG
A completed 510(k) submission establishes a clear regulatory pathway for commercializing the MyoVista wavECG. FDA clearance would enable product market entry, recurring device sales and clinical adoption, changing the company’s revenue trajectory and strategic positioning over the medium term.
Negative Factors
Severe operating cash burn
Very large negative operating cash flow indicates the business cannot self-fund operations and will need repeated external financing. This creates ongoing dilution and solvency risk, constraining strategic options and increasing default risk if capital markets tighten over the medium term.
Read all positive and negative factors
Positive Factors
Negative Factors
FDA 510(k) submission for MyoVista wavECG
A completed 510(k) submission establishes a clear regulatory pathway for commercializing the MyoVista wavECG. FDA clearance would enable product market entry, recurring device sales and clinical adoption, changing the company’s revenue trajectory and strategic positioning over the medium term.
Read all positive factors
Heart Test Laboratories, Inc. (HSCS) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$9.67M
Dividend YieldN/A
Average Volume (3M)58.86K
Price to Earnings (P/E)―
Beta (1Y)1.00
Revenue GrowthN/A
EPS Growth51.71%
CountryUS
Employees15
SectorHealthcare
Sector Strength45
IndustryMedical - Devices
Share Statistics
EPS (TTM)-4.94
Shares Outstanding3,290,350
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-350.36
Enterprise Value/Revenue-390.96K
Enterprise Value/Gross Profit36.87K
Enterprise Value/Ebitda442.97
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)-3.02
Revenue Forecast (FY)$350.00K
Heart Test Laboratories, Inc. Business Overview & Revenue Model
Company Description
HeartSciences Inc. is a medical technology company dedicated to augmenting the clinical utility of electrocardiograms (ECGs) by integrating artificial intelligence (AI). The firm develops AI-enhanced ECG (AI-ECG) solutions, including an algorithm ...
How the Company Makes Money
null...
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 | -7.65M | -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 | -3.41B | -7.44M | -6.20M | -5.79M | -3.65M | -2.45M |
| Operating Cash Flow | -3.42B | -7.41M | -6.07M | -5.77M | -3.64M | -2.45M |
| Investing Cash Flow | -52.26K | -30.19K | -125.27K | -18.31K | -1.93K | -712.00 |
| Financing Cash Flow | 8.19M | 2.73M | 10.34M | 6.53M | 3.84M | 2.68M |
Heart Test Laboratories, Inc. Technical Analysis
Positive
3.35
Price Trends
2.01
Positive
2.31
Positive
2.71
Positive
Market Momentum
0.19
Negative
72.86
Negative
55.86
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HSCS, the sentiment is Positive. The current price of 3.35 is above the 20-day moving average (MA) of 2.08, above the 50-day MA of 2.01, and above the 200-day MA of 2.71, indicating a bullish trend. The MACD of 0.19 indicates Negative momentum. The RSI at 72.86 is Negative, neither overbought nor oversold. The STOCH value of 55.86 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive 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% | |
44 Neutral | $36.15M | -0.14 | -49.65% | ― | -95.74% | -118.94% | |
44 Neutral | $6.07M | -0.34 | -268.55% | ― | 39.98% | 90.08% | |
42 Neutral | $771.35K | -0.13 | -476.74% | ― | -8.54% | 40.91% | |
42 Neutral | $5.41M | -1.69 | -84.30% | ― | -23.81% | 32.96% | |
40 Underperform | $9.67M | -0.69 | -220.42% | ― | ― | 51.71% | |
| ― | $3.11M | -0.09 | -239.36% | ― | ― | 62.20% |
* Healthcare Sector Average
HSCS
Heart Test Laboratories, Inc.
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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.