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Healthcare Triangle, Inc.
HCTICIK 0001839285NasdaqNon-AcceleratedSmaller ReportingEmerging GrowthServices-Computer Integrated Systems DesignDelawareFY ends Dec 31
Period
FY 2025
Revenue
$13.89M
Net Income
$-9.48M
Total Assets
$22.74M
Equity
$9.94M
Shares Out
1.97M
Op. Cash Flow
$-16.52M
Business
Healthcare Triangle, Inc. is a healthcare information technology company that develops proprietary cloud, data science and managed services solutions for the EHR, healthcare and life sciences industries. It offers software platforms CloudEz, DataEz and Readabl.AI, SaaS solutions, AI/ML analytics, EHR implementation and optimization, managed services, interoperability and compliance services. Key business segments include platform software, Cloud IT services (multi‑cloud advisory, DevOps, SOC, backup/DR, ransomware protection) and Healthcare IT services (EHR managed services, data assessment, clinical consulting). The company serves hospitals, health systems, payers, pharmaceutical, biotech and medical device organizations via direct engagements, public cloud marketplaces and partnerships with major cloud and EHR vendors.
Summary from filing dated 2025-03-31
Financials
Consolidated Statement of Income
Year Ended · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Net revenue | 14 | 12 | 33 | 46 | 35 | |
| Cost of revenue (exclusive of depreciation and amortization shown separately below) | 12 | 9 | 26 | 35 | 25 | |
| Gross margin | 2 | 3 | — | — | — | |
| Sales and marketing | 3 | 2 | 5 | 7 | — | |
| General and administrative | 7 | 4 | 6 | 6 | 4 | |
| Research and development | 536,000 | 429,000 | 799,000 | 6 | 5 | |
| Bad debts expense | 17,000 | 170,000 | — | — | — | |
| Depreciation and amortization | 705,000 | 889,000 | 7 | 3 | 1 | |
| Total operating expenses | 12 | 8 | 14 | 22 | 16 | |
| Loss from operations | −10 | −5 | −8 | −10 | −5 | |
| Other income | 857,000 | 7,000 | 12,000 | 1 | — | |
| Changes in fair value | 41,000 | — | — | — | — | |
| Forex loss | −18,000 | — | — | — | — | |
| Interest expense | −567,000 | −1 | −968,000 | −212,000 | −567,000 | |
| Loss before income tax | −9 | −6 | −9 | −10 | −6 | |
| Provision for income tax | — | −12,000 | −35,000 | −63,000 | −24,000 | |
| Net loss | −9 | −6 | −9 | −10 | −6 | |
| Foreign currency translation gain | 11,000 | — | — | — | — | |
| Deemed dividend | — | −7 | — | — | — | |
| Comprehensive loss | −9 | −13 | — | — | — | |
| Stockholders | −9 | −13 | — | — | — | |
| Non-controlling interest | −37,000 | — | — | — | — | |
| Stockholders (in Dollars per share) | −152.3 | −16,909 | −2.08 | −2.63 | −0.2 | |
| Stockholders - diluted (in Dollars per share) | −152.3 | −16,909 | −2.08 | −2.63 | −0.2 | |
| Non-controlling interest - basic (in Dollars per share) | −0.6 | — | — | — | — | |
| Non-controlling interest - diluted (in Dollars per share) | −0.6 | — | — | — | — | |
| Basic (in Shares) | 61,873 | 353 | 4 | 4 | 29 | |
| Diluted (in Shares) | 61,873 | 353 | 4 | 4 | 29 |
Consolidated Balance Sheet
As of · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-12-31 | FY 2025 2025-06-30 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 |
|---|---|---|---|---|---|---|
| Cash and cash equivalents | 8 | — | 20,000 | 1 | 1 | |
| Accounts receivable, net | 2 | — | 1 | 4 | 6 | |
| Other current assets | 3 | — | 322,000 | 824,000 | 816,000 | |
| Total current assets | 13 | — | 1 | 6 | 8 | |
| Furniture and equipment, net | 5,000 | — | 12,000 | 44,000 | 80,000 | |
| Goodwill | 3 | 3 | — | — | 1 | |
| Other intangible assets, net | 3 | — | — | — | — | |
| Advances | 4 | — | 497,000 | — | — | |
| Total assets | 23 | — | 2 | 7 | 21 | |
| Accounts payable | 744,000 | — | 3 | 2 | 1 | |
| Short-term borrowing | 11 | — | 3 | 4 | 2 | |
| Other current liabilities | 1 | — | 1 | 2 | 2 | |
| Contingent consideration | — | — | 500,000 | — | — | |
| Total current liabilities | 13 | — | 7 | 8 | 6 | |
| Preferred stock, value | — | — | — | — | — | |
| Common stock, par value $0.00001; 2,000,000,000 authorized, 142,426 and 380 shares issued and outstanding as of December 31, 2025, and December 31, 2024, respectively | 11,000 | — | — | — | 0 | |
| Non-controlling interest | −37,000 | — | — | — | — | |
| Additional paid-in capital | 46 | — | 21 | 26 | 25 | |
| Accumulated deficit | −43 | — | −34 | −28 | −13 | |
| Total stockholders equity (deficit) | 10 | — | −5 | −1 | — | |
| Total liabilities and stockholders equity | 23 | — | 2 | 7 | 21 |
Consolidated Statement of Cash Flows
Year Ended · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Depreciation and amortization | 705,000 | 889,000 | 7 | 3 | 1 | |
| Amortization of debt discount | 223,000 | 979,000 | — | — | — | |
| Conversion fees | — | 56,000 | — | — | — | |
| Stock compensation expenses | 451,000 | 87,000 | 166,000 | 257,000 | — | |
| Net unrealized exchange gain | −27,000 | — | — | — | — | |
| Expenses settled through equity | 393,000 | 22,000 | — | — | — | |
| Interest expense | 567,000 | — | — | 212,000 | 567,000 | |
| Other income | −685,000 | −7,000 | −12,000 | — | — | |
| Accounts receivable | −913,000 | 2 | 2 | 4 | −3 | |
| Other current assets | −3 | 502,000 | −8,000 | −454,000 | −133,000 | |
| Advances | −3 | −193,000 | — | — | — | |
| Accounts payable and accrued expenses | −1 | 593,000 | 484,000 | −392,000 | −2 | |
| Other current liabilities | 265,000 | −525,000 | −520,000 | 1 | 80,000 | |
| Contingent consideration | −100,000 | — | — | — | — | |
| Net cash used in operating activities | −17 | −1 | −2 | −3 | −7 | |
| Purchase of furniture and equipment | −6,000 | — | −12,000 | −40,000 | — | |
| Acquisition of intangible assets | −1 | — | — | −3 | — | |
| Increase in other non-current assets | −247,000 | — | — | — | — | |
| Net cash used in investing activities | −2 | — | −12,000 | −3 | −8 | |
| Proceeds from / (Repayment of) short term borrowing | 9 | −1 | 2 | 203,000 | — | |
| Proceeds from equity issuance | 17 | 956,000 | — | — | — | |
| Interest paid | −567,000 | — | — | — | — | |
| Net cash provided by financing activities | 26 | −133,000 | 2 | 5 | 15 | |
| Net increase/(decrease) in cash and cash equivalents | 8 | −1 | −107,000 | −429,000 | 367,000 | |
| Interest | — | 121,000 | 968,000 | 212,000 | — | |
| Income tax | — | 12,000 | 35,000 | — | — | |
| Conversion of debt to common stock | 3 | 1 | — | — | — | |
| Settlement of contingent consideration | 400,000 | — | — | — | — | |
| Common stock issued for acquisition | 5 | — | — | — | — | |
| Series A, super voting preferred stock | — | — | — | — | — | |
| Issuance of Series B preferred stock in connection with acquisition of customer contracts from a common control entity | — | 7 | — | — | — |
Filings
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