Company: HCTI
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001213900-25-026218
Chunk: 401

Company: Healthcare Triangle, Inc.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 2
Chunk 401
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 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)  
    Changes 

    2024  
    2023  
    Amount  
    % 
  
    Software Services 
    $3,962  
    $17,585  
    $(13,623) 
     (77)%
  
    Managed Services and Support 
     4,671  
     7,794  
     (3,123) 
     (40)%
  
    Platform Services 
     173  
     1,047  
     (874) 
     (83)%
  
    Cost of Revenue 
    $8,806  
    $26,426  
    $(17,620) 
     (67)%

Cost of Revenue from Software Services decreased
by $13.6 million, or 77% to $3.9 million for the twelve months ended December 31, 2024, as compared to $17.5 million for the twelve months
ended December 31, 2023. Cost of Revenue from Managed Services and Support decreased by $3.1 million, or 40% to $4.7 million for the
twelve months ended December 31, 2024, as compared to $7.8 million for the twelve months ended December 31, 2023. Cost of Revenue from
Platform Services decreased by $0.9 million, or 83% to $0.2 million for the twelve months ended December 31, 2024, as compared to $1.1
million for the twelve months ended December 31, 2023.

44

Segment operating profits by reportable segment
were as follows:

    As of December 31, 2024  

    Particulars 
    Software Services  
    Managed Services  
    Platform Services  
    Total 
  
    Revenue from customers 
    $4,692  
    $6,716  
    $288  
    $11,696 
  
    Intersegment revenues 
     -  
     -  
     -