Company: HCTI
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001213900-25-026218
Chunk: 906

Company: Healthcare Triangle, Inc.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 7
Chunk 906
---
) 
     (8,651)
  
    Income tax 
     22  
     11  
     2  
     35 
  
    Income after income taxes 
     (3,700) 
     (928) 
     (4,058) 
    $(8,686)

F-10

Revenue from top 5 customers

Twelve Months Ended December 31,

2024

    Customer 
    Amount
(in thousands)  
    % of
Revenue 
  
    Customer 1 
    $1,945  
     17%
  
    Customer 2 
     1,911  
     16%
  
    Customer 3 
     1,233  
     11%
  
    Customer 4 
     877  
     7%
  
    Customer 5 
    $847  
     7%

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%

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 substance
and collectability of consideration is probable. We apply judgment in determining the customer’s ability and intention to pay based
on a variety of factors including the customer’s historical payment experience.

For performance obligations where control is transferred
over time, revenues are recognized based on the extent of progress towards completion of the performance obligation. The selection of
the method to