Company: HCTI
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001213900-25-026218
Chunk: 525

Company: Healthcare Triangle, Inc.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 3
Chunk 525
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 five major customers accounted for approximately 72% and 77% of the total accounts receivable.

Top Five Customers’ Revenue for Twelve months ended December
31, 2024

    Customer 
    Amount  (in thousands)  
    % of Revenue 
  
    Customer 1 
    $1,945  
     17%
  
    Customer 2 
     1,911  
     16%
  
    Customer 3 
     1,233  
     11%
  
    Customer 4 
     877  
     7%
  
    Customer 5 
    $847  
     7%

Top Five Customers’ Accounts receivable for Twelve months
ended December 31, 2024

    Customer 
    Amount  (in thousands)  
    % of Revenue 
  
    Customer 1 
    $362  
     32%
  
    Customer 2 
     138  
     12%
  
    Customer 3 
     109  
     10%
  
    Customer 4 
     106  
     9%
  
    Customer 5 
    $102  
     9%

The Company maintains cash balances in various
financial institutions. The balances are generally insured by the Federal Deposit Insurance Corporation up to $250,000 (valid through
December 31, 2024) per institution.

As of December 31, 2024, and 2023, the Company
had $0 and $667, respectively, of uninsured cash balances. The Company has not experienced any losses in such accounts and believes it
is not exposed to any significant credit risk on cash.

F-16

3) Property and Equipment

Property and equipment consisted of the following at,

    December 31,  
    December 31, 

    2024  
    2023 

    (In thousands) 
  
    Furniture and Equipment 
    $132  
    $132 
  
    Less: Accumulated depreciation 
     (120) 
     (88)
  
    Net Fixed Assets 
    $12  
    $44 

Depreciation expenses for the year ended December 31, 2024, and December
31, 2023, were $32 and $48, respectively.

4) Intangible Assets

The Company’s intangible assets consist
primarily of intellectual property and customer relationship it acquired through various