Company: HCTI
Filing Date: 2025-05-20
Form Type: 10-Q
Source: 0001213900-25-045994
Chunk: 40

Company: Healthcare Triangle, Inc.
Filing Date: 2025-05-20
Form: 10-Q
Item: Part I, Item 1
Chunk 40
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% 
     127  
     3%
  
    Sales and Marketing 
     373  
     10% 
     883  
     21%
  
    General and Administrative 
     1,198  
     32% 
     1,181  
     29%
  
    Depreciation and Amortization 
     12  
     0% 
     536  
     13%
  
    Other Income 
     (111) 
     3% 
     —  
     0%
  
    Interest expense 
     413  
     11% 
     149  
     4%
  
    Income tax 
     -  
     0% 
     -  
     0%
  
    Net income (loss) 
    $(1,700) 
     (46)% 
    $(1,862) 
     (45)%

Three Months Ended March 31, 2025 and March
31, 2024.

Revenue from operations

    Three Months Ended March 31,  
    Changes 

    2025  
    2024  
    Amount  
    % 

    (In thousands, except percentages) 
  
    Revenue 
    $3,704  
    $4,109  
    $(405) 
     (10)%

Revenue decreased by $0.4 million, or 10% to $3.7
million for the quarter ended March 31, 2025, as compared to $4.1 million for the quarter ended March 31, 2024. Revenue from Software
Services, Managed Services and support and Platform services have reduced resulting in net decrease in revenue. The Software Services
are typically short-term engagements to provide software consulting and development services, which do not require continual third-party
maintenance. Managed Services and Support such as cloud hosting, and cloud disaster recovery requires continuous monitoring.

Our top 5 customers accounted for 57% of the revenue
in quarter ended March 31, 2025, and 70% during quarter ended March 31, 2024, respectively.

The following table has the breakdown of our revenues
for the quarter ended March 31, 2025, and 2024 for each of our top 5 customers.

32

Top Five Customers Revenue for three months
ended March 31 2025 and 2024