Company: HCTI
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001213900-25-026218
Chunk: 397

Company: Healthcare Triangle, Inc.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 2
Chunk 397
---
 revenue increased by $0.09 million or 100% to $0.09 million for the twelve months ended December 31, 2024,
as compared to $0 million for the twelve months ended December 31, 2023. Managed Services and Support revenue decreased by $1.3 million,
or 41% to $1.8 million for the twelve months ended December 31, 2024, as compared to $3.1 million for the twelve months ended December
31, 2023.

Cost of revenue (exclusive of depreciation /amortization)

    Twelve Months Ended  

    December 31,  

    (In thousands)  
    Changes 

    2024  
    2023  
    Amount  
    % 
  
    Cost of revenue (exclusive of depreciation /amortization) 
    $8,806  
    $26,426  
    $(17,620) 
     (67)%

Cost of revenue (exclusive of depreciation /amortization) decreased
by $17.62 million, or 67 % to $8.81 million for the twelve months ended December 31, 2024 as compared to $26.43 million for the twelve
months ended December 31,2023 

Bad debt expense

    Twelve Months Ended  

    December 31,  

    (In thousands)  
    Changes 

    2024  
    2023  
    Amount  
    % 
  
    Bad debt expense 
    $170  
    $-  
    $(170) 
     (100)%

Bad debt expense increased by $0.17 million, or 100 % to $0.17 million
for the twelve months ended December 31, 2024 as compared to $0 million for the twelve months ended December 31,2023.

Research and development

    Twelve Months Ended  

    December 31,  

    (In thousands)  
    Changes 

    2024  
    2023  
    Amount  
    % 
  
    Research and development 
    $429  
    $799  
    $(370) 
     (46)%

Research and development decreased by $0.37 million,
or 46 % to $0.43 million for the twelve months ended December 31, 2024 as compared to $0.8 million for the