Healthcare Triangle Inc Financials
This page shows Healthcare Triangle Inc (HCTI) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 5 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Financial Health Signals
Healthcare Triangle Inc passes 4 of 9 financial strength tests. 1 of 4 profitability signals pass, 1 of 3 leverage/liquidity signals pass, both operating efficiency signals pass.
For every $1 of reported earnings, Healthcare Triangle Inc generates $0.18 in operating cash flow (-$1.1M OCF vs -$6.0M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.
Healthcare Triangle Inc earns $-3.9 in operating income for every $1 of interest expense (-$4.8M vs $1.2M). This narrow margin raises concern about the company's ability to service its debt if operating income declines.
Key Financial Metrics
Healthcare Triangle Inc generated $11.7M in revenue in fiscal year 2024. This represents a decrease of 64.8% from the prior year.
Healthcare Triangle Inc's EBITDA was -$3.9M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 37.0% from the prior year.
Healthcare Triangle Inc reported -$6.0M in net income in fiscal year 2024. This represents an increase of 31.3% from the prior year.
Healthcare Triangle Inc earned $-1.13 per diluted share (EPS) in fiscal year 2024. This represents an increase of 45.7% from the prior year.
Healthcare Triangle Inc held $20K in cash against $0 in long-term debt as of fiscal year 2024.
Healthcare Triangle Inc had 6M shares outstanding in fiscal year 2024. This represents an increase of 48.6% from the prior year.
Healthcare Triangle Inc's gross margin was 24.7% in fiscal year 2024, indicating the percentage of revenue retained after direct costs. This is up 4.3 percentage points from the prior year.
Healthcare Triangle Inc's operating margin was -40.6% in fiscal year 2024, reflecting core business profitability. This is down 17.4 percentage points from the prior year.
Healthcare Triangle Inc's net profit margin was -51.0% in fiscal year 2024, showing the share of revenue converted to profit. This is down 24.9 percentage points from the prior year.
Healthcare Triangle Inc invested $429K in research and development in fiscal year 2024. This represents a decrease of 46.3% from the prior year.
HCTI Income Statement
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $3.5M-1.9% | $3.6M-3.9% | $3.7M+69.1% | $2.2M-26.6% | $3.0M-27.4% | $4.1M-41.8% | $7.1M-9.2% | $7.8M |
| Cost of Revenue | $2.9M-6.3% | $3.1M-9.2% | $3.4M+74.5% | $1.9M-7.3% | $2.1M-32.6% | $3.1M-44.0% | $5.5M-8.9% | $6.1M |
| Gross Profit | $618K+25.1% | $494K+50.2% | $329K+28.5% | $256K-71.5% | $898K-11.4% | $1.0M-33.7% | $1.5M-10.4% | $1.7M |
| R&D Expenses | $59K+7.3% | $55K-61.8% | $144K+280.0% | -$80K-138.6% | $207K+63.0% | $127K+22.1% | $104K+92.6% | $54K |
| SG&A Expenses | $2.1M+76.4% | $1.2M-1.3% | $1.2M+52.0% | $788K-12.8% | $904K-23.5% | $1.2M+5.2% | $1.1M-17.7% | $1.4M |
| Operating Income | -$2.6M-90.7% | -$1.4M+2.8% | -$1.4M-183.6% | -$493K+64.2% | -$1.4M+19.6% | -$1.7M-25.3% | -$1.4M+10.3% | -$1.5M |
| Interest Expense | -$32K-52.4% | -$21K-106.6% | $316K+137.0% | -$853K-551.1% | -$131K+12.1% | -$149K-109.1% | $1.6M+493.0% | -$415K |
| Income Tax | N/A | N/A | N/A | $4K+300.0% | $1K-80.0% | $5K-28.6% | $7K+75.0% | $4K |
| Net Income | -$1.9M-39.3% | -$1.4M+19.5% | -$1.7M-26.1% | -$1.3M+10.7% | -$1.5M+18.9% | -$1.9M-10.9% | -$1.7M+13.6% | -$1.9M |
| EPS (Diluted) | $-0.42 | $-0.58 | $-0.17 | $124.79+276.5% | $-70.72-16738.1% | $-0.420.0% | $-0.42+6.7% | $-0.45 |
HCTI Balance Sheet
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $13.8M-5.0% | $14.6M+23.6% | $11.8M+501.0% | $2.0M-67.4% | $6.0M-12.4% | $6.9M+0.2% | $6.9M-52.6% | $14.5M |
| Current Assets | $7.9M-10.4% | $8.9M-9.9% | $9.8M+404.9% | $1.9M-16.5% | $2.3M-26.4% | $3.2M-43.9% | $5.7M+15.5% | $4.9M |
| Cash & Equivalents | $1.6M-49.5% | $3.2M-52.7% | $6.8M+34030.0% | $20K-31.0% | $29K-90.4% | $301K-75.6% | $1.2M+1545.3% | $75K |
| Inventory | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Accounts Receivable | $2.4M+31.1% | $1.9M-2.4% | $1.9M+71.8% | $1.1M-44.6% | $2.0M-4.3% | $2.1M-41.7% | $3.6M+89775.0% | $4K |
| Goodwill | N/A | N/A | N/A | N/A | N/A | N/A | N/A | $1.3M |
| Total Liabilities | $5.1M+17.3% | $4.4M+35.9% | $3.2M-54.7% | $7.1M+6.1% | $6.7M-9.7% | $7.4M+16.8% | $6.3M-24.2% | $8.3M |
| Current Liabilities | $3.9M+23.8% | $3.2M-1.5% | $3.2M-51.2% | $6.6M+6.6% | $6.2M+2.9% | $6.0M-26.5% | $8.2M+19.0% | $6.9M |
| Long-Term Debt | N/A | N/A | N/A | N/A | N/A | $888K0.0% | $888K | N/A |
| Total Equity | $8.7M-14.5% | $10.2M+19.0% | $8.6M+267.7% | -$5.1M-691.6% | -$646K-26.4% | -$511K-195.0% | $538K-91.2% | $6.1M |
| Retained Earnings | -$38.5M-5.1% | -$36.6M-3.9% | -$35.3M-5.1% | -$33.6M-18.7% | -$28.3M-5.6% | -$26.8M+3.0% | -$27.6M-41.0% | -$19.6M |
HCTI Cash Flow Statement
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$1.5M+43.2% | -$2.6M+52.6% | -$5.6M-585.2% | -$811K+13.3% | -$935K-1770.0% | -$50K-108.3% | $599K | $0 |
| Capital Expenditures | $3K | N/A | N/A | N/A | N/A | N/A | $5K0.0% | $5K |
| Free Cash Flow | -$1.5M | N/A | N/A | N/A | N/A | N/A | $594K+11980.0% | -$5K |
| Investing Cash Flow | -$686K | N/A | N/A | N/A | N/A | N/A | -$5K0.0% | -$5K |
| Financing Cash Flow | $584K+262.2% | -$360K-102.9% | $12.4M+1439.6% | $803K+21.1% | $663K+175.1% | -$883K-256.3% | $565K+1186.5% | -$52K |
| Dividends Paid | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
HCTI Financial Ratios
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 17.7%+3.8pp | 13.9%+5.0pp | 8.9%-2.8pp | 11.7%-18.4pp | 30.1%+5.4pp | 24.7%+3.0pp | 21.7%-0.3pp | 21.9% |
| Operating Margin | -74.3%-36.1pp | -38.2%-0.5pp | -37.7%-15.2pp | -22.5%+23.7pp | -46.2%-4.5pp | -41.7%-22.3pp | -19.4%+0.2pp | -19.6% |
| Net Margin | -54.6%-16.2pp | -38.5%+7.5pp | -45.9%+15.7pp | -61.6%-11.0pp | -50.6%-5.3pp | -45.3%-21.5pp | -23.8%+1.2pp | -25.0% |
| Return on Equity | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Return on Assets | -13.8%-4.4pp | -9.4%+5.0pp | -14.4%+54.3pp | -68.7%-43.7pp | -25.1%+2.0pp | -27.1%-2.6pp | -24.5%-11.0pp | -13.4% |
| Current Ratio | 2.03-0.8 | 2.81-0.3 | 3.07+2.8 | 0.30-0.1 | 0.38-0.2 | 0.53-0.2 | 0.69-0.0 | 0.71 |
| Debt-to-Equity | 0.59+0.2 | 0.43+0.1 | 0.37+1.8 | -1.38+8.9 | -10.32-8.6 | -1.74-3.4 | 1.65+0.3 | 1.36 |
| FCF Margin | -43.0% | N/A | N/A | N/A | N/A | N/A | 8.4%+8.5pp | -0.1% |
Note: Shareholder equity is negative (-$5.1M), which causes debt-to-equity and return on equity ratios to appear negative or not meaningful. This can occur from accumulated losses or large share buyback programs.
Note: The current ratio is below 1.0 (0.30), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.
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Frequently Asked Questions
What is Healthcare Triangle Inc's annual revenue?
Healthcare Triangle Inc (HCTI) reported $11.7M in total revenue for fiscal year 2024. This represents a -64.8% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Healthcare Triangle Inc's revenue growing?
Healthcare Triangle Inc (HCTI) revenue declined by 64.8% year-over-year, from $33.2M to $11.7M in fiscal year 2024.
Is Healthcare Triangle Inc profitable?
No, Healthcare Triangle Inc (HCTI) reported a net income of -$6.0M in fiscal year 2024, with a net profit margin of -51.0%.
What is Healthcare Triangle Inc's earnings per share (EPS)?
Healthcare Triangle Inc (HCTI) reported diluted earnings per share of $-1.13 for fiscal year 2024. This represents a 45.7% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.
What is Healthcare Triangle Inc's EBITDA?
Healthcare Triangle Inc (HCTI) had EBITDA of -$3.9M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization.
What is Healthcare Triangle Inc's gross margin?
Healthcare Triangle Inc (HCTI) had a gross margin of 24.7% in fiscal year 2024, indicating the percentage of revenue retained after direct costs of goods sold.
What is Healthcare Triangle Inc's operating margin?
Healthcare Triangle Inc (HCTI) had an operating margin of -40.6% in fiscal year 2024, reflecting the profitability of core business operations before interest and taxes.
What is Healthcare Triangle Inc's net profit margin?
Healthcare Triangle Inc (HCTI) had a net profit margin of -51.0% in fiscal year 2024, representing the share of revenue converted into profit after all expenses.
What is Healthcare Triangle Inc's operating cash flow?
Healthcare Triangle Inc (HCTI) generated -$1.1M in operating cash flow during fiscal year 2024, representing cash generated from core business activities.
What are Healthcare Triangle Inc's total assets?
Healthcare Triangle Inc (HCTI) had $2.0M in total assets as of fiscal year 2024, including both current and long-term assets.
How much does Healthcare Triangle Inc spend on research and development?
Healthcare Triangle Inc (HCTI) invested $429K in research and development during fiscal year 2024.
How many shares does Healthcare Triangle Inc have outstanding?
Healthcare Triangle Inc (HCTI) had 6M shares outstanding as of fiscal year 2024.
What is Healthcare Triangle Inc's current ratio?
Healthcare Triangle Inc (HCTI) had a current ratio of 0.30 as of fiscal year 2024, which is below 1.0, which may suggest potential liquidity concerns.
What is Healthcare Triangle Inc's debt-to-equity ratio?
Healthcare Triangle Inc (HCTI) had a debt-to-equity ratio of -1.38 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Healthcare Triangle Inc's return on assets (ROA)?
Healthcare Triangle Inc (HCTI) had a return on assets of -304.4% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.
What is Healthcare Triangle Inc's cash runway?
Based on fiscal year 2024 data, Healthcare Triangle Inc (HCTI) had $20K in cash against an annual operating cash burn of $1.1M. This gives an estimated cash runway of approximately 0 months at the current burn rate. Cash runway measures how long a company can continue operating before running out of cash, assuming no additional funding.
Why is Healthcare Triangle Inc's debt-to-equity ratio negative or unusual?
Healthcare Triangle Inc (HCTI) has negative shareholder equity of -$5.1M as of fiscal year 2024, which causes the debt-to-equity ratio to appear negative or not meaningful. This can occur when accumulated losses exceed invested capital, or after large share buyback programs. Other solvency metrics like the current ratio or interest coverage may be more informative.
What is Healthcare Triangle Inc's Piotroski F-Score?
Healthcare Triangle Inc (HCTI) has a Piotroski F-Score of 4 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Healthcare Triangle Inc's earnings high quality?
Healthcare Triangle Inc (HCTI) has an earnings quality ratio of 0.18x, considered low quality (accrual-driven). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can Healthcare Triangle Inc cover its interest payments?
Healthcare Triangle Inc (HCTI) has an interest coverage ratio of -3.9x, meaning it can struggle to cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.