Company: HCTI
Filing Date: 2025-05-20
Form Type: 10-Q
Source: 0001213900-25-045994
Chunk: 5

Company: Healthcare Triangle, Inc.
Filing Date: 2025-05-20
Form: 10-Q
Item: Part I, Item 1
Chunk 5
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 disparate systems and applying analytics capabilities.

    3.
    Life sciences, payers and all healthcare organizations must protect and secure personal health information (PHI), a regulatory compliance mandate that Company addresses and manages for its customers.

As an organization with the deep-rooted cloud
expertise, Company’s technology significantly relies on Big Data, Analytics, DevOps, Security/Compliance, Identity Access Management
(IAM), Machine Learning (ML), Artificial Intelligence (AI), Internet of Things (IoT) and Blockchain.

5

HEALTHCARE TRIANGLE, INC.

Notes To Condensed Consolidated Financial Statements

(Unaudited)

(In thousands except share and per share data)

2) Summary of Significant Accounting Policies

Basis of consolidated financial statements 

The
accompanying condensed consolidated financial statements include the accounts of Healthcare Triangle, Inc and Devcool, Inc its wholly
owned subsidiary. The condensed consolidated financial statements
have been prepared in accordance with accounting principles generally accepted in the United States of America. All intercompany balances
and transactions have been eliminated in consolidation.

The
accompanying statements of operations include expenses for certain functions historically performed by the Parent company, including general
corporate services, such as legal, accounting, treasury, information technology, human resources and administration. These expenses are
based primarily on direct usage when identifiable, direct capital expenditures or other relevant allocations during the respective periods.
We believe the assumptions underlying the accompanying condensed consolidated financial statements, are reasonable.
Actual results may differ from these expenses, assumptions and estimates. The amounts recorded in the accompanying condensed consolidated
financial statements are not necessarily indicative of the actual amount of such indirect expenses that would have been recorded had we
been a separate independent entity.

Unaudited Interim Financial Information

The accompanying unaudited condensed consolidated
financial statements and the related footnote disclosures have been prepared by us in accordance with GAAP for interim financial reporting
and as required by Rule 10-01 of Regulation S-X. Accordingly, the unaudited condensed consolidated financial statements may not include
all of the information and notes required by GAAP for audited financial statements. The year-end December 31, 2024 condensed consolidated
balance sheet data included herein was derived from audited financial statements. In the opinion of management, the accompanying unaudited
condensed consolidated financial statements contain all adjustments, consisting of items of a normal and recurring nature, necessary to
present fairly our financial position as of March 31, 2025, the results of operations, comprehensive income (