Healthcare Triangle Files Q1 2024 10-Q

TL;DR

HTRI filed its Q1 2024 10-Q. Check financials.

AI Summary

Healthcare Triangle, Inc. filed its quarterly report on Form 10-Q for the period ended March 31, 2024. The company, incorporated in Delaware with its principal executive offices in Pleasanton, CA, operates in the computer integrated systems design sector. This filing provides an update on its financial and operational status for the first quarter of 2024.

Why It Matters

This filing provides investors with an update on Healthcare Triangle's financial performance and operational status for the first quarter of 2024, crucial for assessing the company's current health and future prospects.

Risk Assessment

Risk Level: medium — As a publicly traded company filing a 10-Q, there are inherent risks associated with financial reporting and market performance.

Key Players & Entities

• Healthcare Triangle, Inc. (company) — Registrant
• March 31, 2024 (date) — Quarterly period end date
• 001-40903 (other) — Commission file number
• Delaware (other) — State of incorporation
• Pleasanton, CA (location) — Principal executive office location

FAQ

Key Financial Figures

• $0.00001 — ange on which registered Common Stock, $0.00001 par value HCTI The Nasdaq Stock Market

Filing Documents

• ea0204678-10q_healthcare.htm (10-Q) — 737KB
• ea020467801ex31-1_healthcare.htm (EX-31.1) — 10KB
• ea020467801ex31-2_healthcare.htm (EX-31.2) — 10KB
• ea020467801ex32-1_healthcare.htm (EX-32.1) — 4KB
• ea020467801ex32-2_healthcare.htm (EX-32.2) — 3KB
• 0001213900-24-045251.txt ( ) — 5749KB
• hcti-20240331.xsd (EX-101.SCH) — 68KB
• hcti-20240331_cal.xml (EX-101.CAL) — 36KB
• hcti-20240331_def.xml (EX-101.DEF) — 320KB
• hcti-20240331_lab.xml (EX-101.LAB) — 554KB
• hcti-20240331_pre.xml (EX-101.PRE) — 320KB
• ea0204678-10q_healthcare_htm.xml (XML) — 632KB

– FINANCIAL INFORMATION

PART I – FINANCIAL INFORMATION 1

Financial statements

Item 1. Financial statements 1 Unaudited Condensed Consolidated Balance sheets 1 Unaudited Condensed Consolidated Statements of Operations 2 Unaudited Condensed Consolidated Statements of Changes in Stockholders' Equity (Deficit) 3 Unaudited Condensed Consolidated Statements of Cash Flows 4 Notes to Unaudited Condensed Consolidated Financial Statements 5

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 26

Quantitative and Qualitative Disclosures About Market Risk

Item 3. Quantitative and Qualitative Disclosures About Market Risk 36

Controls and Procedures

Item 4. Controls and Procedures 36

- OTHER INFORMATION

PART II - OTHER INFORMATION 37

Legal Proceedings

Item 1. Legal Proceedings 37

Risk Factors

Item 1A. Risk Factors 37

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 37

Defaults Upon Senior Securities

Item 3. Defaults Upon Senior Securities 37

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 37

Other Information

Item 5. Other Information 37

Exhibits

Item 6. Exhibits 38

Signatures

Signatures 39 i NOTE ABOUT FORWARD-LOOKING STATEMENTS This Quarterly Report on Form 10-Q, including the sections titled "Management's Discussion and Analysis of Financial Condition and Results of Operations" and "Risk Factors," contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, involving substantial risks and uncertainties. The words "believe," "may," "will," "potentially," "plan," "could," "should," "predict," "ongoing," "estimate," "continue," "anticipate," "intend," "project," "expect," "seek," or the negative of these words, or terms or similar expressions conveying uncertainty of future events or outcomes, or that concern our expectations, strategy, plans or intentions, are intended to identify forward-looking statements. Forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those projected, anticipated, or expected. When considering forward-looking statements, you should keep in mind the risk factors and other cautionary statements discussed under the heading "Risk Factors" and in our publicly available filings and press releases. These statements include, among other things, those regarding: our ability to continue to add new customers and increase sales to our existing customers; our ability to develop new solutions and bring them to market in a timely manner; our ability to timely and effectively scale and adapt our existing solutions; our dependence on establishing and maintaining a strong brand; the occurrence of service interruptions and security or privacy breaches and related remediation efforts and fines; system failures or capacity constraints; the rate of growth of, and anticipated trends and challenges in, our business and in the market for our products; our future financial performance, including our expectations regarding our rev

Financial statements

Item 1. Financial statements HEALTHCARE TRIANGLE, INC. Condensed Consolidated Balance Sheets March 31, December 31, 2024 2023 (Unaudited) (Unaudited) (In thousands) Assets Current assets Cash and cash equivalents $ 301 $ 1,234 Accounts receivable 2,095 3,236 Other current assets 773 1,259 Total current assets 3,169 5,729 Property and equipment, net 33 44 Intangible assets, net 3,637 3,972 Due from affiliates 33 304 Total assets $ 6,872 $ 10,049 Liabilities and stockholders' equity (deficit) Current liabilities Accounts payable $ 2,013 $ 1,953 Warrant liability 1,144 954 Short term borrowing 1,795 3,429 Other current liabilities 1,043 1,787 Total current liabilities 5,995 8,123 Long-term liabilities Contingent consideration 500 500 Convertible Notes 888 888 Total current and long-term liabilities 7,383 9,511 Stockholders' equity (deficit) Preferred stock, par value $ 0.00001 ; 10,000,000 authorized — — Series A, Super Voting Preferred Stock - 6,000 shares (1,000 votes per share) 0 0 Common stock, par value $ 0.00001 ; 100,000,000 authorized 4,726,217 and 4,308,822 shares issued and outstanding as of March 31, 2024 and December 31, 2023 respectively 0 0 Additional paid-in capital 26,256 25,443 Retained earnings/(deficit) ( 26,767 ) ( 24,905 ) Total stockholders' equity (deficit) ( 511 ) 538 Total liabilities and stockholders' equity (deficit) $ 6,872 $ 10,049 The accompanying notes are an integral part of these condensed consolidated financial statements. 1 HEALTHCARE TRIANGLE, INC. Unaudited Condensed Consolidated Statements of Operations Three Months Ended March 31, 2024 2023 (In thousands) Net revenue $ 4,109 $ 9,838 Cost of revenue (exclusive of depreciation and amortization shown separately below) 3,095 8,245 Operating expenses Research and development 127 539 Sales and Marketing 883 1,761 General and Administrati

View Full Filing

View this 10-Q filing on SEC EDGAR