Company: HCTI
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001213900-25-026218
Chunk: 296

Company: Healthcare Triangle, Inc.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1B
Chunk 296
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 depreciation /amortization) 
     8,806  
     75% 
     26,426  
     80%
  
    Bad debt expense 
     170  
     1% 
     -  
     0%
  
    Research and development 
     429  
     4% 
     799  
     2%
  
    Sales and marketing 
     2,203  
     19% 
     4,670  
     14%
  
    General and administrative 
     3,950  
     34% 
     5,727  
     17%
  
    Depreciation and amortization 
     889  
     8% 
     1,566  
     5%
  
    Impairment expense 
     -  
     0% 
     1,710  
     5%
  
    Other income 
     (7) 
     0% 
     (12) 
     0%
  
    Interest expense 
     1,213  
     10% 
     968  
     3%
  
    Income taxes 
     12  
     0% 
     35  
     0%
  
    Net (loss) 
    $(5,969) 
     (51)% 
    $(8,686) 
     (26)%

39

Twelve Months Ended December 31, 2024, and 2023

Revenue from operations

    Twelve Months Ended  

    December 31,  

    (In thousands)  
     Changes  

    2024  
    2023  
    Amount  
    % 
  
    Revenue 
    $11,696  
    $33,203  
     (21,507) 
     (65)%

Revenue decreased by $21.51 million, or 65% to
$11.7 million for the twelve months ended December 31, 2024, as compared to $33.2 million for the twelve months ended December 31, 2023.
Revenue from Software Services, Managed Services and Support and Platform Services revenue have decreased in the current year.

Our top 5 customers accounted for 58% of revenue
during the twelve months ended December 31, 2024, and 79% during the twelve months