Company: HCTI
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001213900-25-026218
Chunk: 195

Company: Healthcare Triangle, Inc.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1A
Chunk 195
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, rent and utilities,
and maintains its payroll levels. The amount of loan forgiveness will be reduced if the borrower terminates employees or reduces salaries
during the eight-week period. The unforgiven portion of the PPP loan is payable over five years at an interest rate of 1%, with a deferral
of payments for the first six months. The Company has utilized the proceeds for purposes in line with the terms of the PPP.

Results of Operations

The following tables set forth selected consolidated
statements of operations data and such data as a percentage of total revenues for each of the periods indicated:

    Twelve Months Ended December 31, 

    (In thousands) 

    2024  
    % of Sales  
    2023  
    % of Sales 
  
    Revenue 
    $11,696  
     100% 
    $33,203  
     100%
  
    Cost of revenue (exclusive of 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,