<PAGE>

                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549

                                    FORM 10-Q
(Mark One)

[X]      QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE
         SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended                  MARCH 31, 2000
                               -----------------------------------------------

                                       OR

[ ]      TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE EXCHANGE ACT


                         Commission file number 0-19567
                                                -------

                              CARDIAC SCIENCE, INC.
        -----------------------------------------------------------------
        (Exact name of Small Business Issuer as specified in its charter)


                   DELAWARE                            33-0465681
-------------------------------------------------------------------------------
        (State or other jurisdiction of            (I.R.S. Employer
         incorporation or organization)            Identification No.)


16931 MILLIKAN AVENUE, IRVINE, CALIFORNIA                 92606
-------------------------------------------------------------------------------
(Address of principal executive offices)

Registrant's telephone number, including area code:       (949)  587-0357


Check whether the issuer (1) filed all reports required to be filed by Section
13 or 15(d) of the Exchange Act during the past 12 months (or for such shorter
period that the registrant was required to file such reports), and (2) has been
subject to such filing requirements for the past 90 days. Yes  X  No
                                                              ---    ---

The number of shares of the Common Stock of the registrant outstanding as of
May 8, 2000 was 12,364,440.


<PAGE>

                              CARDIAC SCIENCE, INC.

                               INDEX TO FORM 10-Q

                          PART I. FINANCIAL INFORMATION
                          -----------------------------
<TABLE>
<CAPTION>
                                                                                          PAGE NO.
                                                                                          --------
<S>         <C>                                                                           <C>
Item 1.     Financial Statements:

            Consolidated Condensed Balance Sheets as of March 31, 2000 (Unaudited)
               and December 31, 1999                                                         3

            Consolidated Condensed Statements of Operations (Unaudited) for the
              three months ended March 31, 2000 and 1999                                     4

            Consolidated Condensed Statements of Cash Flows (Unaudited) for the
              three months ended March 31, 2000 and 1999                                     5

            Consolidated Condensed Notes to Financial Statements (Unaudited)                 6

Item 2.     Management's Discussion and Analysis of Financial Condition and
              Results of Operations                                                          8

Item 3.     Quantitative and Qualitative Disclosures About Market Risk                      10

                                PART II. OTHER INFORMATION
                                --------------------------

Item 1.     Legal Proceedings                                                               11

Item 2.     Changes in Securities and Use of Proceeds                                       11

Item 3.     Defaults Upon Senior Securities                                                 11

Item 4.     Submission of Matters to a Vote of Security Holders                             11

Item 5.     Other Information                                                               11

Item 6.     Exhibits and Reports on Form 8-K                                                11

Signatures                                                                                  12
</TABLE>

                                                                               2
<PAGE>




ITEM 1.  FINANCIAL STATEMENTS

                              CARDIAC SCIENCE, INC.

                      CONSOLIDATED CONDENSED BALANCE SHEETS


<TABLE>
<CAPTION>
                                                                                  (Unaudited)
                                                                                   March 31,      December 31,
                                                                                      2000            1999
                                                                                  ------------    ------------
                                                         ASSETS
<S>                                                                               <C>             <C>
Current assets:
  Cash and cash equivalents                                                       $  2,622,272    $  5,901,934
  Accounts receivable                                                                  391,162         102,900
  Inventory                                                                            885,744         438,592
  Prepaid expenses                                                                      99,322          59,646
                                                                                  ------------    ------------
Total current assets                                                                 3,998,500       6,503,072


Equipment, net                                                                         457,379         391,085
Other assets                                                                            78,681         150,178
                                                                                  ------------    ------------
                                                                                  $  4,534,560    $  7,044,335
                                                                                  ============    ============

                                           LIABILITIES AND STOCKHOLDERS' EQUITY


Current liabilities:
  Accounts payable and accrued expenses                                           $  2,126,876    $  2,092,903
  Current portion of capital lease obligation                                           40,783          25,717
                                                                                  ------------    ------------
Total current liabilities                                                            2,167,659       2,118,620
                                                                                  ------------    ------------

Long term portion of capital lease obligation                                          174,576         103,507
                                                                                  ------------    ------------

Stockholders' equity:
  Preferred Stock - $.001 par value; 1,000,000 shares authorized, none
    issued or outstanding                                                                 --              --

  Common stock - $ 0.001 par value; 20,000,000 shares authorized, 12,320,627
    issued and outstanding at March 31, 2000 and 12,031,252 at
    December 31, 1999                                                                   12,320          12,031

  Additional paid-in capital                                                        23,837,680      23,748,322
  Accumulated deficit                                                              (21,657,675)    (18,938,145)
                                                                                  ------------    ------------
                                        Total stockholders' equity                   2,192,325       4,822,208
                                                                                  ------------    ------------
                                                                                  $  4,534,560    $  7,044,335
                                                                                  ============    ============
</TABLE>

    The accompanying notes are an integral part of the financial statements.



                                                                               3
<PAGE>


                              CARDIAC SCIENCE, INC.

                 CONSOLIDATED CONDENSED STATEMENTS OF OPERATIONS
                                   (Unaudited)


<TABLE>
<CAPTION>
                                                Three Months    Three Months
                                                   Ended           Ended
                                               March 31, 2000  March 31, 1999
                                               --------------  --------------
<S>                                             <C>             <C>
Sales                                           $    624,642    $       --
Cost of goods sold                                   574,758            --
                                                ------------    ------------
Gross profit                                          49,884            --

Operating expenses:
   Research and development                        1,138,024         597,028
   Sales and marketing                               924,764         275,249
   General and administrative                        717,049         281,112
                                                ------------    ------------

Loss from operations                              (2,729,953)     (1,153,389)
Interest income (expense), net                        12,023          (3,172)
                                                ------------    ------------

Loss from operations before provision
   for income taxes                               (2,717,930)     (1,156,561)
Provision for income taxes                             1,600           1,600
                                                ------------    ------------

Net loss                                        $ (2,719,530)   $ (1,158,161)
                                                ============    ============

Net loss per share (basic and diluted)          $      (0.22)   $      (0.16)
                                                ============    ============

Weighted average number of shares used in the
   computation of net loss per share              12,152,303       7,072,360
                                                ============    ============
</TABLE>

    The accompanying notes are an integral part of the financial statements.



                                                                               4
<PAGE>

                              CARDIAC SCIENCE, INC.

                 CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS
                                   (Unaudited)

<TABLE>
<CAPTION>
                                                                    Three Months   Three Months
                                                                      Ended           Ended
                                                                   March 31, 2000 March 31, 1999
                                                                   -------------- --------------
<S>                                                                 <C>            <C>
Cash flows from operating activities:
Net loss                                                            $(2,719,530)   $(1,158,161)
Adjustments to reconcile net loss to net
  cash used in operating activities:
    Depreciation and amortization                                        27,200         12,140
    Compensation related to fair value of options granted to non-
       employees                                                         25,000          4,700
    Expenses paid with common stock                                        --           84,195
    Changes in operating assets and liabilities:
    Accounts receivable                                                (288,262)          --
    Inventory                                                          (447,152)          --
    Prepaid expenses                                                    (39,676)       (13,338)
    Other assets                                                         71,497          4,000
    Accounts payable and accrued expenses                                33,973        (12,289)
                                                                    -----------    -----------
Net cash used in operating activities                                (3,336,950)    (1,078,753)
                                                                    -----------    -----------

Cash flows from investing activities:
    Purchase of equipment                                                (7,359)       (36,635)
                                                                    -----------    -----------
Net cash used by investing activities                                    (7,359)       (36,635)
                                                                    -----------    -----------

Cash flows from financing activities:
    Payments on notes payable                                              --         (131,252)
    Proceeds from common stock subscribed                                  --          500,000
    Proceeds from exercise of common stock warrants                     127,379            350
    Proceeds from exercise of common stock options                        5,000           --
    Costs of equity issuances                                           (67,732)      (109,450)
                                                                    -----------    -----------
Net cash provided by financing activities                                64,647        259,648
                                                                    -----------    -----------

Net decrease in cash and cash equivalents                            (3,279,662)      (855,740)

Cash and cash equivalents at beginning of period                      5,901,934      1,247,602
                                                                    -----------    -----------
Cash and cash equivalents at end of period                          $ 2,622,272    $   391,862
                                                                    ===========    ===========
</TABLE>



     The accompanying notes are an integral part of the financial statements



                                                                               5
<PAGE>

                              CARDIAC SCIENCE, INC.

        CONSOLIDATED CONDENSED NOTES TO FINANCIAL STATEMENTS (UNAUDITED)
                                 MARCH 31, 2000


1.       ORGANIZATION AND CAPITALIZATION OF THE COMPANY

         Cardiac Science, Inc. (the "Company") was incorporated on May 20, 1991
to develop, manufacture and market software driven non-invasive (non-surgical)
Automatic External Cardioverter Defibrillator ("AECD") devices to treat persons
suffering from or at high risk of life-threatening arrhythmias. The Company has
developed proprietary tachyarrhythmia detection and discrimination software
technology -- RHYTHMx ECD-TM--- designed to be incorporated into external
defibrillator and patient monitoring devices. RHYTHMx ECD enables these devices,
which are attached prophylactically to hospitalized patients who are determined
to be at temporary risk of cardiac arrest, to continuously monitor their heart
rhythms, accurately and instantly detect life-threatening ventricular
tachyarrhythmias and, when appropriate and without the aid of hospital staff,
automatically deliver potentially life saving defibrillation shocks within
seconds to convert a patient's heart back to its normal rhythm.

2.       CONTINUED EXISTENCE

         Additional capital is needed to fulfill the Company's current
marketing, research and product development goals. From inception through March
31, 2000, the Company incurred losses of approximately $22 million. Recovery of
the Company's assets is dependent upon future events, the outcome of which is
indeterminable. Additionally, successful completion of the Company's development
program and its transition to attain profitable operations is dependent upon
achieving a level of revenues adequate to support the Company's cost structure.
The Company anticipates that its current cash balance will be sufficient to meet
the Company's cash requirements into June 2000. Given the current applications
of cash, the Company expects that additional capital will be necessary to
sustain growth and viability. In this respect, the Company is considering a
number of alternatives, including additional equity financings and corporate
partnerships. There can be no assurance that any such transactions will be
available at terms acceptable to the Company, if at all, or that any financing
transaction will not be dilutive to current stockholders, or that the Company
will have sufficient working capital to fund future operations. If the Company
is not able to raise additional funds, it may be required to significantly
curtail or cease its operating activities. The accompanying financial statements
have been prepared assuming that the Company will continue as a going concern.

3.       SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

         In the opinion of the Company's management, the accompanying
consolidated condensed unaudited financial statements include all adjustments
(which consist only of normal recurring adjustments) necessary for a fair
presentation of its financial position at March 31, 2000 and results of
operations and cash flows for the periods presented. Although the Company
believes that the disclosures in these financial statements are adequate to make
the information presented not misleading, certain information and disclosures
normally included in financial statements prepared in accordance with generally
accepted accounting principles have been condensed or omitted and should be read
in conjunction with the Company's audited financial statements included in the
Company's 1999 Annual Report on Form 10-K. Results of operations for the three
months ended March 31, 2000 are not necessarily indicative of results for the
full year.


                                                                               6
<PAGE>


4.       INVENTORY

         Inventory, which consists of finished products and subassemblies, is
stated at the lower of cost (first-in, first-out) or market value. Inventory at
March 31, 2000 and December 31, 1999 was comprised of finished goods.

5.       TECHNOLOGY INTEGRATION AND DISTRIBUTION LETTER AGREEMENT

         In March 2000, the Company entered into an exclusive two year
Technology Integration and Distribution Letter Agreement with Data Critical
Corporation ("DCC") to interface DCC's wireless technology, the AlarmView-TM-
system, with the Company's fully-automatic external cardiac defibrillator
devices. Under the terms of the agreement, the Company is obligated to make
certain minimum purchases of the AlarmView-TM- system and to pay $175,000 in
technology and non-recurring engineering fees of which $150,000 was included in
research and development costs for the three months ended March 31, 2000.






                                                                               7
<PAGE>




ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS
        OF OPERATIONS

GENERAL

         The following discussion should be read in conjunction with the
consolidated financial statements and notes thereto set forth elsewhere in this
Quarterly Report on Form 10-Q.

         Cardiac arrest is the single largest cause of death in the United
States and Europe. Our mission is to increase the survival rate of cardiac
arrest victims and create a new standard of care through the development and
commercialization of our proprietary technology.

         We have developed proprietary tachyarrhythmia detection and
discrimination software technology -- RHYTHMx ECD-TM--- designed to be
incorporated into external defibrillator and patient monitoring devices. RHYTHMx
ECD enables these devices, which are attached prophylactically to hospitalized
patients who are determined to be at temporary risk of cardiac arrest, to

          -    continuously monitor their heart rhythms
          -    accurately and instantly detect life-threatening ventricular
               tachyarrhythmias, and
          -    when appropriate and without the aid of hospital staff,
               automatically deliver potentially life saving defibrillation
               shocks within seconds to convert a patient's heart back to its
               normal rhythm.

         We commenced operations in May 1991. Our operations consisted primarily
of research and development activities and clinical FDA testing until our
acquisition of Diagnostic Monitoring in April 1997. Diagnostic Monitoring
manufactured PC-based Holter Electrocardiogram systems and Ambulatory Holter
recorders and distributed these products in over 40 countries. We sold
substantially all of the assets of Diagnostic Monitoring on December 31, 1998.

         We have three products, two of which are still under development,
that utilize our proprietary technology. Our initial product, the
Powerheart-Registered Trademark-, is a fully automatic external bedside
defibrillator-monitor designed for bedside in-hospital use. The Powerheart
attaches prophylactically to "at-risk" cardiac patients for the purpose of
providing fully automatic detection and treatment of life-threatening heart
rhythms (ventricular tachyarrhythmias) that lead to cardiac arrest.

         In December 1998, we entered into a five-year exclusive distribution
and licensing agreement with the world leader in external defibrillation,
Medtronic Physio-Control, a subsidiary of Medtronic, Inc. Medtronic
Physio-Control will market the Powerheart in the U.S., Canada and selected
European countries, and also has been licensed to integrate RHYTHMx ECD into
Medtronic's LIFEPAK-Registered Trademark- line of in-hospital external
defibrillators. We have signed distribution agreements to date covering 30
other international markets giving us representation in over 40 countries.

         We received 510(k) clearance from the U.S. Food and Drug
Administration for the clinical version of the Powerheart in October 1997. We
received European regulatory clearance for Powerheart in late 1999 and we
made our first commercial shipment in December 1999. We subsequently received
510(k) clearance from the FDA for the commercial version of the Powerheart in
January 2000. Shipments of Powerhearts to Medtronic Physio-Control, as well
as our international distributors, began in the first quarter of 2000.

         The second product, currently under development, is a fully automatic
defibrillator module that is designed for integration into third party
manufactured bedside patient monitoring systems. Functionally, this module is
designed to extend patient monitoring systems beyond diagnostics to provide
patients who suffer life-threatening tachyarrhythmias with the added protection
of automatic therapy delivery without the aid of hospital staff. The



                                                                               8
<PAGE>


third product, also under development, is a small, wearable, "cell phone sized"
fully automatic defibrillator that is designed to be worn by patients who are
ambulatory in either a hospital or home environment.

         We have been issued one patent and we have one additional patent under
exclusive license. In addition, we have three patents pending and we intend to
file additional patents relating to our proprietary technology.

RESULTS OF OPERATIONS

         Sales were $624,642 for the three months ended March 31, 2000 as
compared to no sales for the three months ended March 31, 1999. Sales consisted
primarily of Powerheart units to both Medtronic Physio-Control and our
international distributors.

         Cost of sales were $574,758 for the three months ended March 31, 2000
as compared to no cost of sales for the three months ended March 31, 1999. This
amount was attributable primarily to the sale of Powerhearts. We anticipate that
our costs of sales as a percentage of sales will decrease in the future due to
improvements in manufacturing and material procurement processes and changes in
the blend of product sales to include accessories and disposable electrodes.

         Research and development expenses increased to $1,138,024 for the three
months ended March 31, 2000 from $597,028 for the three months ended March 31,
1999. We continue to invest in new products and the improvement of existing
products. Increases in research and development expenses included increases in
personnel costs and related fringes, costs associated with independent
engineering contractors and a one-time technology fee to Data Critical
Corporation (see note 5 to the consolidated condensed financial statements).

         Sales and marketing expenses increased to $924,764 for the three months
ended March 31, 2000 from $275,249 for the three months ended March 31, 1999.
The increases were a result of marketing expenses related to the Powerheart
including costs associated with the development of marketing literature and the
addition of personnel and related fringes.

         General and administrative expenses increased to $717,049 for the three
months ended March 31, 2000 from $281,112 for the three months ended March 31,
1999. The increases in expenses for the three months ended March 31, 2000 as
compared to the same period in 1999 included new facility costs, personnel costs
and related fringes, consulting and professional fees.

         Interest income, net, increased to $12,023 for the three months ended
March 31, 2000 as compared to interest expense, net of $3,172 for the three
months ended March 31, 1999. The increase in net interest income was derived
from the investment of proceeds from equity placements in the fourth quarter of
1999.

LIQUIDITY AND CAPITAL RESOURCES

         At March 31, 2000, we had cash and cash equivalents of $2,622,272 and
working capital of $1,830,841 as compared to cash and cash equivalents of
$5,901,934 and working capital of $4,384,452 at December 31, 1999. From
inception, our sources of funding for operations were derived from equity
placements aggregating approximately $21 million. We have incurred losses of
$21,657,675 since inception, and we expect to incur substantial additional
operating losses as a result of expenditures related to marketing and sales
efforts, research and product development activities. The timing and amounts of
these expenditures will depend upon many factors, some of which are beyond our
control, such as the requirements for and time required to obtain approval of
510(k) applications or other regulatory approvals, the progress of research and
development programs, and market acceptance of our products.


                                                                               9
<PAGE>


         Successful completion of our development program for our products and
transition to attain profitable operations is dependent upon achieving a level
of revenues adequate to support the required cost structure.

         We anticipate that the current cash balances will be sufficient to meet
our cash requirements into June 2000. Additional capital will be necessary to
ensure our viability. In this respect, we are considering a number of
alternatives, including additional equity financings and corporate partnerships.
We cannot assure you that any such transactions will be available on terms
acceptable to us, if at all, or that any financing transaction will not be
dilutive to current stockholders. We also cannot assure you that we will have
sufficient working capital to fund future operations. If we are not able to
raise additional funds, we may be required to significantly curtail or cease our
operating activities. The accompanying financial statements have been prepared
assuming that we will continue as a going concern.

FORWARD LOOKING STATEMENTS

         This Quarterly Report on Form 10-Q contains certain forward-looking
statements, including statements regarding:

          -    products under development;
          -    technological and competitive advantages;
          -    our ability to improve patient care, increase survival rates,
               decrease recovery time, lessen patient debilitation, and reduce
               patient care costs and
          -    strategic alliances.

         These forward-looking statements are based on current expectations that
involve numerous risks and uncertainties, including those risks and
uncertainties discussed in this Form 10-Q and in our Annual Report on Form 10-K
for the year ended December 31, 1999. Assumptions relating to the foregoing
involve judgments with respect to, among other things, future economic,
competitive, and market conditions and future business decisions, all of which
are difficult or impossible to predict accurately and many of which are beyond
our control. Although we believe that our assumptions underlying the
forward-looking statements are reasonable, any of the assumptions could prove
inaccurate and, therefore, we cannot assure you that the results discussed or
implied in such forward-looking statements will prove to be accurate. In light
of the significant uncertainties inherent in such forward-looking statements,
the inclusion of such statements should not be regarded as a representation by
us or any other person that our objectives and plans will be achieved. Words
such as "believes," "anticipates," "expects," "intends," "may," and similar
expressions are intended to identify forward-looking statements, but are not the
exclusive means of identifying such statements. We undertake no obligation to
revise any of these forward-looking statements.


ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

                  Not applicable.



                                                                              10
<PAGE>




                              CARDIAC SCIENCE, INC.

                           PART II. OTHER INFORMATION

Item 1.         LEGAL PROCEEDINGS

                None.

Item 2.         CHANGES IN SECURITIES AND USE OF PROCEEDS

                During the three-month period ending March 31, 2000, we sold an
                aggregate of 286,875 shares of common stock through the exercise
                of warrants for an aggregate purchase price of $127,379. Of this
                amount 231,875 shares were sold to foreign investors in an
                offshore transaction pursuant to Regulation S promulgated under
                the Securities Act of 1933. The balance of the shares were sold
                pursuant to Section 4(2) of the Securities Act.

Item 3.         DEFAULTS UPON SENIOR SECURITIES

                None.

Item 4.         SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS

                None

Item 5.         OTHER INFORMATION

                None.

Item 6.         EXHIBITS AND REPORTS ON FORM 8-K

                a) Exhibits:

                               27.1    Financial Data Schedule.

                b) Reports on Form 8-K:

                               None.



                                                                              11
<PAGE>


                                   SIGNATURES


         In accordance with the requirements of the Exchange Act, the registrant
caused this report to be signed on its behalf by the undersigned, hereunto duly
authorized.



                                       CARDIAC SCIENCE, INC.




        Date: May 9, 2000                         /s/  Brett L. Scott
             -------------                       --------------------------
                                                 Brett L. Scott
                                                 (Authorized Officer and
                                                 Principal Financial Officer)




                                                                              12
<PAGE>




                                Index to Exhibits


                    27.1     Financial Data Schedule.