Company: HCTI
Filing Date: 2025-02-18
Form Type: 10-K/A
Source: 0001213900-25-014503
Chunk: 84

Company: Healthcare Triangle, Inc.
Filing Date: 2025-02-18
Form: 10-K/A
Chunk 84
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 customers

Twelve Months Ended December 31,

2023

| Customer   |     | Amount         
 (In thousands) |        |     | % of    
 Revenue |    |   |
|:-----------|:----|:---------------|-------:|:----|:--------|---:|:--|
| Customer 1 |     | $              | 17,322 |     |         | 52 | % |
| Customer 2 |     |                |  3,114 |     |         |  9 | % |
| Customer 3 |     |                |  2,286 |     |         |  7 | % |
| Customer 4 |     |                |  2,011 |     |         |  6 | % |
| Customer 5 |     | $              |  1,751 |     |         |  5 | % |

2022

| Customer   |     | Amount         
 (In thousands) |        |     | % of    
 Revenue |    |   |
|:-----------|:----|:---------------|-------:|:----|:--------|---:|:--|
| Customer 1 |     | $              | 17,736 |     |         | 39 | % |
| Customer 2 |     |                |  5,598 |     |         | 12 | % |
| Customer 3 |     |                |  4,676 |     |         | 10 | % |
| Customer 4 |     |                |  3,698 |     |         |  8 | % |
| Customer 5 |     | $              |  1,585 |     |         |  3 | % |

Revenue Recognition

We recognize revenues as we transfer control of
deliverables (services, solutions, and platform) to our clients in an amount reflecting the consideration to which we expect to be entitled.
To recognize revenues, we apply the following five step approach: (1) identify the contract with a customer, (2) identify the performance
obligations in the contract, (3) determine the transaction price, (4) allocate the transaction price to the performance obligations in
the contract, and (5) recognize revenues when a performance obligation is satisfied. We account for a contract when it has approval and
commitment from all parties, the rights of the parties are identified, payment terms are identified, the contract has commercial