Company: HCTI
Filing Date: 2025-02-18
Form Type: 10-K/A
Source: 0001213900-25-014503
Chunk: 67

Company: Healthcare Triangle, Inc.
Filing Date: 2025-02-18
Form: 10-K/A
Chunk 67
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 2023, as compared to $4.8 million for the twelve months ended December 31, 2022. 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 Platform Services which is of recurring nature when compared to Software Services segment which is of non-recurring nature. This also helps in retaining existing customers by leveraging our Managed Services and Support and Platform Services as a growth agent. This renewed focus on driving demand for subscription and platform-based model will help us in expanding our customer base and enhance customer retention which is a challenge for our existing Software Services segment. Software Services contracts are driven by Time and Material and on site employees delivering services at customers location. Our CloudEz, DataEz and Readabl.ai platforms are getting more traction, and this will lead to increase in revenue from platform services. We have made additional investments in Sales & Marketing and Research & Development to grow Managed Services & Support and Platform Services revenue. We expect this trend to continue and have a net positive impact on overall results of operations. Cost of Revenue

|                              |     | Twelve       
 Months Ended 
 December 31, 
 (In          
 thousands)   |   2023 |     |   |   2022 |     | Changes | Amount |   |     |     | %   |    |
|:-----------------------------|:----|:-------------|-------:|:----|:--|-------:|:----|:--------|:-------|:--|:----|:----|:----|:---|
| Software Services            |     | $            | 17,260 |     | $ | 20,533 |     | $       | (3,273 | ) |     |     | (16 | )% |
| Managed Services and Support |     |              |  7,696 |     |   | 10,697 |     |         | (3,001 | ) |     |     | (28 | )% |
| Platform Services            |     |              |  1,470 |     |   |  3,361 |     |         | (1,891 | ) |     |     | (56 | )% |
| Cost