Company: HCTI
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001213900-25-026218
Chunk: 689

Company: Healthcare Triangle, Inc.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 5
Chunk 689
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 3 
     2,286  
     7%
  
    Customer 4 
     2,011  
     6%
  
    Customer 5 
    $1,751  
     5%

40

The following table provides details of Customer 1 revenue by operating
segments:

    Twelve Months Ended  

    December 31,  

    (In thousands)  
    Changes 

    2024  
    2023  
    Amount  
    % 
  
    Software services 
    $98  
    $-  
    $98  
     100%
  
    Managed services and support 
     1,847  
     3,114  
     (1,267) 
     (41)%
  
    Platform services 
     -  
     -  
     -  
     0%
  
    Total Revenue 
    $1,945  
    $3,114  
    $(1,169) 
     (38)%

Revenue from Customer 1 decreased by $1.2 million,
or 38% to $1.9 million for the twelve months ended December 31, 2024, as compared to $3.1 million for the twelve months ended December
31, 2023. Software Services revenue increased by $0.09 million or 100% to $0.09 million for the twelve months ended December 31, 2024,
as compared to $0 million for the twelve months ended December 31, 2023. Managed Services and Support revenue decreased by $1.3 million,
or 41% to $1.8 million for the twelve months ended December 31, 2024, as compared to $3.1 million for the twelve months ended December
31, 2023.

Cost of revenue (exclusive of depreciation /amortization)

    Twelve Months Ended  

    December 31,  

    (In thousands)  
    Changes 

    2024  
    2023  
    Amount  
    % 
  
    Cost of revenue (exclusive of depreciation /amortization) 
    $8,806  
    $26,426  
    $(17,620) 
     (67)%

Cost of revenue (exclusive of depreciation /amortization) decreased
by $17.62 million, or 67 % to