Company: HCTI
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001213900-25-026218
Chunk: 329

Company: Healthcare Triangle, Inc.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1B
Chunk 329
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 settled. The effect on deferred tax assets and liabilities of a change in tax law is recognized in income
in the period that includes the enactment date.

Advertising Costs

The Company expenses advertising cost as incurred. Advertising expense
for the year ended December 31, 2024, and 2023 was $607 and $526 respectively.

Concentration

Financial instruments that potentially subject
the Company to concentration of credit risk consist principally of cash and trade receivables. Credit risks associated with trade receivables
is minimal due to the Company’s customer base which consist of large customer base and ongoing procedures, which monitor the credit
worthiness of its customers. For the year ended December 31, 2024, and 2023 sales to five major customers accounted for approximately
58% and 79% of total revenue respectively. For the year ended December 31, 2024, and year ended December 31, 2023 accounts receivable
from five major customers accounted for approximately 72% and 77% of the total accounts receivable.

Top Five Customers’ Revenue for 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%

Top Five Customers’ Accounts receivable for Twelve months
ended December 31, 2024

    Customer 
    Amount  (in thousands)  
    % of Revenue 
  
    Customer 1 
    $362  
     32%
  
    Customer 2 
     138  
     12%
  
    Customer 3 
     109  
     10%
  
    Customer 4 
     106  
     9%
  
    Customer 5 
    $102  
     9%

The Company maintains cash balances in various
financial institutions. The balances are generally insured by the Federal Deposit Insurance Corporation up to $250,000 (valid through
December 31, 2024) per institution.

As of December 31, 2024, and 2023, the Company
had $0 and