Company: HCTI
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001213900-25-076686
Chunk: 6

Company: Healthcare Triangle, Inc.
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 1
Chunk 6
---
, acquisitions and partnerships drive increasing need for integrated healthcare infrastructures. Company’s health IT expertise optimizes providers’ enterprise digital structure needs connecting disparate systems and applying analytics capabilities.

    3.
    Life sciences, payers and all healthcare organizations must protect and secure personal health information (PHI), a regulatory compliance mandate that Company addresses and manages for its customers.

As an organization with the deep-rooted cloud
expertise, Company’s technology significantly relies on Big Data, Analytics, DevOps, Security/Compliance, Identity Access Management
(IAM), Machine Learning (ML), Artificial Intelligence (AI), Internet of Things (IoT) and Blockchain.

5

HEALTHCARE TRIANGLE, INC.

Notes To Condensed Consolidated Financial Statements

(Unaudited)

(In thousands except share and per share data)

2) Summary of Significant Accounting Policies

Basis of consolidated financial statements 

The accompanying condensed consolidated financial
statements include the accounts of Healthcare Triangle, Inc., and its wholly owned subsidiaries Devcool, Inc., and QuantumNexis, Inc.,
which also owns 100% of Ezovion Solutions Private Limited and 80% of QuantumNexis SDN. BHD. The condensed consolidated financial statements
have been prepared in accordance with accounting principles generally accepted in the United States of America. All intercompany balances
and transactions have been eliminated upon consolidation.

The accompanying statements of operations include
expenses for certain functions historically performed by the Parent company, including general corporate services, such as legal, accounting,
treasury, information technology, human resources and administration. These expenses are based primarily on direct usage when identifiable,
direct capital expenditures or other relevant allocations during the respective periods. We believe the assumptions underlying the accompanying
condensed consolidated financial statements, are reasonable. Actual results may differ from these expenses, assumptions and estimates.
The amounts recorded in the accompanying condensed consolidated financial statements are not necessarily indicative of the actual amount
of such indirect expenses that would have been recorded had we been a separate independent entity.

Unaudited Interim Financial Information

The accompanying unaudited condensed consolidated
financial statements and the related footnote disclosures have been prepared by us in accordance with GAAP for interim financial reporting
and as required by Rule 10-01 of Regulation S-X. Accordingly, the unaudited condensed consolidated financial statements may not include
all of the information and notes required by GAAP for audited financial statements. The year-end December 31, 2024 condensed consolidated
balance sheet data included herein was derived from audited financial statements