Company: HCTI
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001213900-25-076686
Chunk: 8

Company: Healthcare Triangle, Inc.
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 1
Chunk 8
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to be a “large accelerated filer”, as defined in the rules under the Exchange Act, and (iv) the date on which we have issued
more than $1.0 billion in non-convertible debt during the prior three-year period. We refer to the Jumpstart Our Business Startups Act
of 2012 herein as the “JOBS Act,” and any reference herein to “emerging growth company” has the meaning ascribed
to it in the JOBS Act.

Segment Information

The management has chosen to organize the Company
around differences in products and services and segregated the reporting segments as Software Services, Managed Services and Support,
and Platform Services.

Operating segments are defined as components of
an enterprise for which separate financial information is available and is evaluated regularly by the chief operating decision maker in
deciding how to allocate resources and assessing performance. The Company defines the term ‘Chief Operating Decision Maker’
(CODM) to be the Chief Financial Officer and Chief Operating Officer. The CODM, along with the management team, reviews the financial
information presented on a consolidated basis and uses net results for purposes of making operating decisions, allocating resources, and
evaluating financial performance. Accordingly, the Company has determined that it operates in three distinct reportable operating segments,
and all required financial segments information can be found in the interim condensed consolidated financial statements. The long-lived
assets are not material as of June 30, 2025. The measure of segment assets is reported on the balance sheet as total consolidated assets.
Refer to the Consolidated Balance Sheets as of June 30, 2025 and December 31, 2024 for total consolidated assets

7

HEALTHCARE TRIANGLE, INC.

Notes To Condensed Consolidated Financial Statements

(Unaudited)

(In thousands except share and per share data)

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