Company: HCTI
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001213900-25-026218
Chunk: 492

Company: Healthcare Triangle, Inc.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 3
Chunk 492
---
  
    Other income 
     (7) 
     0% 
     (12) 
     0%
  
    Interest expense 
     1,213  
     10% 
     968  
     3%
  
    Income taxes 
     12  
     0% 
     35  
     0%
  
    Net (loss) 
    $(5,969) 
     (51)% 
    $(8,686) 
     (26)%

39

Twelve Months Ended December 31, 2024, and 2023

Revenue from operations

    Twelve Months Ended  

    December 31,  

    (In thousands)  
     Changes  

    2024  
    2023  
    Amount  
    % 
  
    Revenue 
    $11,696  
    $33,203  
     (21,507) 
     (65)%

Revenue decreased by $21.51 million, or 65% to
$11.7 million for the twelve months ended December 31, 2024, as compared to $33.2 million for the twelve months ended December 31, 2023.
Revenue from Software Services, Managed Services and Support and Platform Services revenue have decreased in the current year.

Our top 5 customers accounted for 58% of revenue
during the twelve months ended December 31, 2024, and 79% during the twelve months ended December 31, 2023, respectively.

The following table has the breakdown of our revenues
for the twelve months ended December 31, 2024, and 2023 for each of our top 5 customers.

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