Company: HCTI
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001213900-25-026218
Chunk: 875

Company: Healthcare Triangle, Inc.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 7
Chunk 875
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Item 7. Management’s Discussion and Analysis of Financial
Condition and Results of Operations.

The following discussion summarizes the significant
factors affecting the operating results, financial condition, liquidity, and cash flows of our Company as of and for the periods presented
below. The following discussion and analysis should be read in conjunction with the condensed consolidated financial statements and the
related notes thereto, and the consolidated financial statements and the related notes thereto all included elsewhere in this report.
The statements in this discussion regarding industry outlook, our expectations regarding our future performance, liquidity, and capital
resources, and all other non-historical statements in this discussion are forward-looking statements and are based on the beliefs of our
management, as well as assumptions made by, and information currently available to, our management. Actual results could differ materially
from those discussed in or implied by forward-looking statements as a result of various factors, including those discussed below and elsewhere
in this report, and in the sections entitled “Special Note Regarding Forward-Looking Statements” and “Risk Factors”.

Overview

Healthcare Triangle, Inc. is a leading healthcare
information technology company focused on advancing innovative, industry-transforming solutions in the areas of cloud services, data science,
professional and managed services for the Healthcare and Life Sciences industry.

The Company was formed on October 29, 2019, as
a Nevada corporation and then converted into a Delaware corporation on April 24, 2020, to provide IT and data services to the Healthcare
and Life Sciences (“HCLS”) industry. The business commenced on January 1, 2020, after SecureKloud transferred its Life Sciences
business to us. As of December 31, 2024, we had a total of 36 full-time employees, 24 sub-contractors. Many of the senior management team
and the members of our board of directors hold advanced degrees and some are leading experts in software development, regulatory science,
and market access. During the twelve months ended December 31, 2024, we generated revenues of approximately $11.7 million compared to
revenue of $33.2 million for the twelve months ended December 31, 2023, which represents a decrease of $21.6 million or 65% compared to
the previous year.

Our approach leverages our proprietary technology
platforms, extensive industry knowledge, and healthcare domain expertise to provide solutions and services that reinforce healthcare progress.
Through our platform, solutions, and services, we support healthcare delivery organizations,