Company: HCTI
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001213900-25-109581
Chunk: 92

Company: Healthcare Triangle, Inc.
Filing Date: 2025-11-13
Form: 10-Q
Item: Part I, Item 8
Chunk 92
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 Receivable, net

    September 30, 2025  
    December 31,  2024 
  
    Accounts receivable, gross 
    $2,606  
    $1,295 
  
    Less: Allowance for doubtful accounts (current expected credit loss) 
     (165) 
     (185)
  
    Accounts receivable, net 
    $2,441  
    $1,110 

As at September 30, 2025, the Company remeasured
its allowance for current expected credit loss to $165, showing a net reduction of $20 from the balance as at December 31, 2024.

3.2) Furniture and Equipment

Furniture and equipment consisted of the following:

    September 30, 2025  
    December 31,  2024 

    Furniture and equipment, at cost 
    $62  
    $69(1)
  
    Less:  Accumulated depreciation 
          (57) 
           (57)(1)
  
    Furniture and equipment, net 
    $5  
    $12 

(1)Prior year figures have been reclassified for the purpose of comparison.

During the period ended September 30, 2025, the
Company purchased furniture and equipment amounting to $6, whereas furniture and equipment costing $13, having a nil book-value were retired.
Depreciation expenses for the quarter ended September 2025 and 2024 were $5 and $7 respectively, and for the nine months ended September
30, 2025 and 2024, were $13 and $406 respectively.

14

HEALTHCARE TRIANGLE, INC.

Notes To Condensed Consolidated Financial Statements

(Unaudited)

(In thousands except share and per share data)

3.3) Goodwill and Other Intangibles

A)On June 16, 2025 (the “Closing date”), Healthcare Triangle,
Inc. through its wholly owned subsidiary Quantum Nexus Inc. (the “Company”) and Niyama Healthcare, Inc., a Delaware corporation,
a provider of Mental Health and Hospital Information Systems technology, across India, South East Asia, and Europe (the “Seller”)
entered into an Asset and Stock Transfer Agreement (the “Agreement”). Pursuant to the Agreement, the Company agreed to purchase
from the Seller the Transferred Assets (comprising of contracts, intellectual property and