$HCTI

Healthcare Triangle, Inc.

CIK:0001839285|SEC Filings

Unaudited Condensed Consolidated Statements of Operations and Comprehensive Loss - USD ($)
$ in Thousands

3 Months Ended

6 Months Ended

Jun. 30, 2026

Jun. 30, 2025

Jun. 30, 2026

Jun. 30, 2025

Income Statement [Abstract]

Net revenue

$ 9,193

$ 3,558

$ 19,046

$ 7,263

Cost of revenue (exclusive of depreciation and amortization shown separately below)

7,126

3,064

14,587

6,440

Gross margin

2,067

494

4,459

823

Operating expenses

Sales and marketing

720

616

2,500

990

General and administrative

4,821

1,182

8,038

2,380

Research and development

136

198

Bad debt expense

142

Depreciation and amortization

529

1,339

Total operating expenses

6,138

1,853

12,155

3,580

Loss from operations

(4,071)

(1,359)

(7,696)

(2,757)

Other income

438

446

124

Changes in fair value

(652)

(3,088)

Interest expense

(89)

(21)

(173)

(435)

Forex loss

(17)

(80)

Profit / (loss) before income taxes

(4,391)

(1,367)

(10,591)

(3,068)

Income tax expense

(24)

Net loss

(4,415)

(1,367)

(10,615)

(3,068)

Other comprehensive income (OCI)

Foreign currency translation gain/(loss)

237

Comprehensive loss

(4,178)

(1,367)

(10,542)

(3,068)

Comprehensive loss attributable to:

Stockholders

(4,150)

(1,367)

(10,490)

(3,068)

Non-controlling interest

$ (28)

$ (52)

Net loss per common share—basic and diluted, attributable to:

Stockholders — basic (in Dollars per share)

^[1]

$ (1.56)

$ (35.01)

$ (7.13)

$ (153.65)

Stockholders — diluted (in Dollars per share)

^[1]

$ (1.56)

$ (35.01)

$ (7.13)

$ (153.65)

Weighted average shares outstanding used in per common share computations:

Basic (in Shares)

2,805,546

39,057

1,481,343

19,964

Diluted (in Shares)

2,805,546

39,057

1,481,343

19,964

[1]	Due to net loss position, basic and diluted weighted average shares outstanding are the same.

Unaudited Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Cash flows from operating activities
Profit / (loss) after income taxes	$ (10,615)	$ (3,068)
Adjustment to reconcile net loss to net cash provided by / (used in) operating activities
Depreciation and amortization	1,339	12
Net unrealised exchange loss	80
Change in fair value	3,088
Common stock issued for services		88
Amortization of debt discount		223
Other income		(124)
Stock compensation expenses		36
Interest expenses	173
Interest expenses settled by equity		316
Interest expense on right-of-use liability	426
Bad debt expense	142
Gain on sale of furniture and equipment	(6)
Provision for advances	626
Tax expense	24
Changes in working capital:
Accounts receivable	606	(752)
Other current assets	(358)	(133)
Advances	(60)
Due from affiliates	0	(2,823)
Accounts payable	(2,387)	(1,375)
Other current liabilities	(775)	(592)
Net cash used in operating activities	(7,697)	(8,192)
Cash flows from investing activities
Purchase of furniture and equipment	(50)	(3)
Disposal of furniture and equipment	6
Purchase of intangible assets	(3)
Acquisition of Teyame, net off cash acquired on business combination	(9,197)
Acquisition of Assets		(600)
Net cash used in investing activities	(9,244)	(603)
Cash flows from financing activities
Proceeds from debt	76,594	0
Repayment of debt	(74,269)	(1,674)
Payment of lease liability	(381)
Proceeds from equity issuance	9,418	13,677
Interest paid	(170)
Net cash provided by financing activities	11,192	12,003
Effect of exchange rate changes on cash and cash equivalents	30
Net (decrease)/increase in cash and cash equivalents	(5,719)	3,208
Cash and cash equivalents
Cash and cash equivalents at the beginning of the year	7,625	20
Cash and cash equivalents at the end of the period	1,906	3,228
Supplementary disclosure of cash flows information
Interest		435
Cashless warrants issued		14,710
Deferred offering cost	112
Conversion of debt to common stock	10,167	1,191
Acquisition of Teyame (see note 6[B] for details)	37,800
Operating right-of-use asset	1,193
Acquisition of assets		$ 5,100

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Current assets
Cash and cash equivalents	$ 1,906	$ 7,625
Accounts receivable, net	6,186	2,070
Other current assets	1,554	3,456
Total current assets	9,646	13,151
Advances, net	3,260	3,826
Furniture and equipment, net	1,192	5
Other intangible assets, net	54,825	2,808
Goodwill	2,946	2,946
Operating lease right-of-use assets	1,193
Other non-current assets	201
Deferred tax asset, net	377
Total assets	73,640	22,736
Current liabilities
Accounts payable	1,199	744
Short-term debt	9,165	10,737
Operating lease liabilities – current	426
Other current liabilities	5,200	1,311
Total current liabilities	15,990	12,792
Non-current liabilities
Long-term debt	2,662
Operating lease liabilities - non-current	747
Contingent consideration	5,000
Other non-current liabilities	142
Total current and non-current liabilities	24,541	12,792
Stockholders’ equity
Preferred stock, value
Common stock, par value $0.00001; 2,000,000,000 authorized, 2,027,719 and 142,426 shares issued and outstanding as of June 30, 2026, and December 31, 2025, respectively	11	11
Common stock (to be issued) – see note 12(A)	12,000
Non-controlling interest	(89)	(37)
Additional paid-in capital	65,231	45,534
Accumulated deficit	(53,489)	(42,999)
Total stockholders’ equity	49,099	9,944
Total liabilities and stockholders’ equity	73,640	22,736
Series A Super Voting preferred Stock
Stockholders’ equity
Preferred stock, value
Series B Convertible preferred stock
Stockholders’ equity
Preferred stock, value	7,435	7,435
Series C Convertible preferred stock
Stockholders’ equity
Preferred stock, value	$ 18,000