Company: HCTI
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001213900-25-026218
Chunk: 301

Company: Healthcare Triangle, Inc.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1B
Chunk 301
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 65 % to $0.01 million for the twelve months ended December 31, 2024, as compared to $0.03 million for the twelve months ended
December 31, 2023, this represents state taxes.

Revenue, Cost of Revenue and Operating Profit by Operating Segment

    Twelve Months Ended  

    December 31,  

    (In thousands)  
    Changes 

    2024  
    2023  
    Amount  
    % 
  
    Software Services 
    $4,692  
    $21,132  
    $(16,440) 
     (78)%
  
    Managed Services and Support 
     6,716  
     10,452  
     (3,736) 
     (36)%
  
    Platform Services 
     288  
     1,619  
     (1,331) 
     (82)%
  
    Revenue 
    $11,696  
    $33,203  
    $(21,507) 
     (65)%

We manage our business under three operating segments,
which are Software Services, Managed Services and Support and Platform Services.

43

Revenue from Software Services decreased by $16.4
million, or 78% to $4.7 million for the twelve months ended December 31, 2024, as compared to $21.1 million for the twelve months ended
December 31, 2023. Revenue from Managed Services and Support decreased by $3.7 million, or 36% to $6.7 million for the twelve months ended
December 31, 2024, as compared to $10.5 million for the twelve months ended December 31, 2023. Revenue from Platform Services decreased
by $1.3 million, or 82% to $0.3 million for the twelve months ended December 31, 2024, as compared to $1.6 million for the twelve months
ended December 31, 2023.

Factors affecting revenues of Software Services, Managed Services
and Support and Platform Services

Our strategy is to achieve meaningful long-term
revenue growth through sales of Managed Services and Support and Platform Services to existing and new clients within our target market.
In order to increase our cross-selling opportunity between our operating segments and realize long time revenue growth, our focus has
shifted more towards Managed Services and Support and