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Healthcare Triangle (HCTI) Financials

Healthcare Triangle logo
$2.41 0.00 (0.00%)
Closing price 05/22/2026 04:00 PM Eastern
Extended Trading
$2.38 -0.04 (-1.45%)
As of 05/22/2026 06:52 PM Eastern
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Annual Income Statements for Healthcare Triangle

Annual Income Statements for Healthcare Triangle

This table shows Healthcare Triangle's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric 2020 2021 2022 2023 2024
Period end date 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024
Net Income / (Loss) Attributable to Common Shareholders		 2.35 -5.95 -14 -8.69 -13
Consolidated Net Income / (Loss)		 2.35 -5.95 -14 -8.69 -5.97
Net Income / (Loss) Continuing Operations		 2.35 -5.95 -14 -8.69 -5.97
Total Pre-Tax Income 		2.61 -5.93 -14 -8.65 -5.96
Total Operating Income		 1.18 -5.36 -16 -7.70 -4.75
Total Gross Profit		 8.59 11 11 6.78 2.72
Total Revenue		 31 35 46 33 12
Operating Revenue		 31 35 46 33 12
Total Cost of Revenue		 23 25 35 26 8.98
Operating Cost of Revenue		 23 25 35 26 8.81
Other Cost of Revenue		 - - - - 0.17
Total Operating Expenses		 7.41 16 25 14 7.47
Selling, General & Admin Expense		 2.44 4.44 5.52 5.73 3.95
Marketing Expense		 2.42 4.76 6.65 4.67 2.20
Research & Development Expense		 1.74 5.26 8.14 0.80 0.43
Depreciation Expense		 0.80 1.42 2.94 1.57 0.89
Impairment Charge		 - - 4.37 1.71 0.00
Total Other Income / (Expense), net		 1.43 -0.57 -0.21 -0.96 -1.21
Interest Expense		 0.08 0.57 0.21 0.97 1.21
Other Income / (Expense), net		 1.51 0.00 0.00 0.01 0.01
Income Tax Expense		 0.26 0.02 0.51 0.04 0.01
Preferred Stock Dividends Declared		 - - - - 7.44
Basic Earnings per Share		 $0.08 ($0.20) ($3.88) ($2.08) ($1.13)
Weighted Average Basic Shares Outstanding		 27.90M 29.43M 3.70M 4.18M 5.28M
Diluted Earnings per Share		 $0.08 ($0.20) ($3.88) ($2.08) ($1.13)
Weighted Average Diluted Shares Outstanding		 27.90M 29.43M 3.70M 4.18M 5.28M

Quarterly Income Statements for Healthcare Triangle

This table shows Healthcare Triangle's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025
Period end date 9/30/2022 12/31/2022 3/31/2023 6/30/2023 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025
Net Income / (Loss) Attributable to Common Shareholders		 -2.34 -9.60 -3.28 -1.79 -1.94 -1.68 -1.86 -1.51 -1.25 -8.78 -1.70
Consolidated Net Income / (Loss)		 -2.34 -9.60 -3.28 -1.79 -1.94 -1.68 -1.86 -1.51 -1.25 -1.35 -1.70
Net Income / (Loss) Continuing Operations		 -2.34 -9.60 -3.28 -1.79 -1.94 -1.68 -1.86 -1.51 -1.25 -1.35 -1.70
Total Pre-Tax Income 		-2.30 -9.16 -3.26 -1.78 -1.94 -1.67 -1.86 -1.51 -1.25 -1.34 -1.70
Total Operating Income		 -2.25 -11 -3.21 -1.60 -1.52 -1.37 -1.71 -1.38 -1.17 -0.50 -1.40
Total Gross Profit		 3.43 1.81 1.59 1.95 1.71 1.53 1.01 0.90 0.72 0.09 0.33
Total Revenue		 12 11 9.84 8.53 7.78 7.06 4.11 2.98 2.41 2.19 3.70
Operating Revenue		 12 11 9.84 8.53 7.78 7.06 4.11 2.98 2.41 2.19 3.70
Total Cost of Revenue		 8.52 9.48 8.25 6.58 6.07 5.53 3.10 2.09 1.69 2.10 3.38
Operating Cost of Revenue		 8.52 9.48 8.25 6.58 6.07 5.53 3.10 2.09 1.69 1.93 3.38
Total Operating Expenses		 5.68 9.80 4.80 3.54 3.23 2.90 2.73 2.28 1.89 0.58 1.73
Selling, General & Admin Expense		 1.48 1.24 1.63 1.61 1.36 1.12 1.18 0.90 1.08 0.79 1.20
Marketing Expense		 1.82 1.44 1.76 1.03 1.10 0.78 0.88 0.63 0.29 0.40 0.37
Research & Development Expense		 1.47 4.96 0.54 0.10 0.05 0.10 0.13 0.21 0.18 -0.08 0.14
Depreciation Expense		 0.91 0.48 0.87 0.80 0.71 -0.82 0.54 0.53 0.34 -0.52 0.01
Total Other Income / (Expense), net		 -0.06 -1.17 -0.05 -0.19 -0.42 -0.31 -0.15 -0.13 -0.08 -0.85 -0.30
Interest Expense		 0.06 0.08 0.06 0.19 0.42 0.31 0.15 0.13 0.08 0.85 0.41
Other Income / (Expense), net		 0.00 -1.09 0.01 0.00 0.00 - 0.00 0.00 0.00 0.01 0.11
Income Tax Expense		 0.04 0.45 0.02 0.01 0.00 0.01 0.00 0.00 0.00 0.00 0.00
Basic Earnings per Share		 ($0.64) ($2.60) ($0.79) ($0.42) ($0.45) ($0.40) ($0.42) ($0.28) ($0.22) ($1.66) ($0.17)
Weighted Average Basic Shares Outstanding		 3.60M 3.70M 4.17M 4.27M 4.28M 4.18M 4.46M 5.32M 5.67M 5.28M 9.84M
Diluted Earnings per Share		 ($0.64) ($2.60) - - ($0.45) ($0.40) ($0.42) - ($0.22) ($1.66) ($0.17)
Weighted Average Diluted Shares Outstanding		 3.60M 3.70M 41.86M 4.23M 4.28M 4.18M 4.46M 5.67M 5.67M 5.28M 9.84M

Annual Cash Flow Statements for Healthcare Triangle

This table details how cash moves in and out of Healthcare Triangle's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric 2020 2021 2022 2023 2024
Period end date 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024
Net Change in Cash & Equivalents		 0.43 0.37 -0.43 -0.11 -1.21
Net Cash From Operating Activities		 -0.73 -7.11 -5.35 -2.15 -1.08
Net Cash From Continuing Operating Activities		 -0.73 -7.13 -5.35 -2.15 -1.08
Net Income / (Loss) Continuing Operations		 2.35 -5.95 -14 -8.69 -5.97
Consolidated Net Income / (Loss)		 2.35 -5.95 -14 -8.69 -5.97
Depreciation Expense		 0.80 1.42 2.94 1.57 0.89
Amortization Expense		 - - - 0.00 0.98
Non-Cash Adjustments To Reconcile Net Income		 0.00 3.58 3.92 1.97 0.33
Changes in Operating Assets and Liabilities, net		 -3.89 -6.18 2.15 3.00 2.69
Net Cash From Investing Activities		 -0.48 -7.63 -1.13 -0.01 0.00
Net Cash From Continuing Investing Activities		 -0.48 -7.63 -1.13 -0.01 0.00
Purchase of Property, Plant & Equipment		 0.00 -0.08 -0.04 -0.01 0.00
Net Cash From Financing Activities		 1.64 15 6.06 2.06 -0.13
Net Cash From Continuing Financing Activities		 1.64 15 6.06 2.06 -0.13
Repayment of Debt		 - - 0.28 1.56 -1.09
Other Financing Activities, net		 0.00 0.89 0.03 0.50 0.96
Cash Interest Paid		 - - 0.21 0.97 0.12
Cash Income Taxes Paid		 0.26 0.02 0.36 0.04 0.01

Quarterly Cash Flow Statements for Healthcare Triangle

This table details how cash moves in and out of Healthcare Triangle's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025
Period end date 9/30/2022 12/31/2022 3/31/2023 6/30/2023 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025
Net Change in Cash & Equivalents		 -1.83 -0.19 -1.07 -0.14 -0.06 1.16 -0.93 -0.27 -0.00 -0.01 6.81
Net Cash From Operating Activities		 -0.97 -4.98 -1.60 -1.15 - 0.60 -0.05 -0.94 0.72 -0.81 -5.56
Net Cash From Continuing Operating Activities		 -0.97 -4.98 -1.60 -1.15 - 0.60 -0.05 -0.94 0.72 -0.81 -5.56
Net Income / (Loss) Continuing Operations		 -2.33 -9.61 -3.28 -1.79 -1.94 -1.68 -1.86 -1.51 -1.25 -1.35 -1.70
Consolidated Net Income / (Loss)		 -2.33 -9.61 -3.28 -1.79 -1.94 -1.68 -1.86 -1.51 -1.25 -1.35 -1.70
Depreciation Expense		 0.91 0.48 0.02 1.66 0.71 -0.82 0.54 0.68 0.34 -0.15 0.01
Amortization Expense		 - - 0.86 -0.78 - -0.08 0.04 -0.23 0.07 0.76 0.22
Non-Cash Adjustments To Reconcile Net Income		 -0.04 4.74 0.19 0.04 0.02 1.72 -0.72 0.21 0.08 -0.18 0.33
Changes in Operating Assets and Liabilities, net		 0.49 -0.59 0.61 -0.27 1.21 1.45 1.96 -0.09 1.47 0.10 -4.42
Net Cash From Investing Activities		 -1.28 2.17 -0.00 0.00 -0.01 -0.01 0.00 - - - 0.00
Net Cash From Continuing Investing Activities		 -0.00 -1.11 -0.00 0.00 -0.01 -0.01 0.00 - - - 0.00
Net Cash From Financing Activities		 5.04 0.01 0.53 1.01 -0.05 0.57 -0.88 0.66 -0.72 0.80 12
Net Cash From Continuing Financing Activities		 -0.85 5.90 0.53 1.01 -0.05 0.57 -0.88 0.66 -0.72 0.80 12
Repayment of Debt		 - - 0.53 0.51 -0.05 0.56 0.00 -0.29 -0.72 0.80 -1.31
Other Financing Activities, net		 - 0.02 0.00 - - 0.00 0.00 - - - 14
Cash Interest Paid		 - - - - - - 0.15 - - - 0.41

Annual Balance Sheets for Healthcare Triangle

This table presents Healthcare Triangle's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric 2020 2021 2022 2023 2024
Period end date 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024
Total Assets		 11 25 13 6.86 1.46
Total Current Assets		 8.03 12 8.02 5.65 1.45
Cash & Equivalents		 1.40 1.77 1.34 1.23 0.02
Accounts Receivable		 6.40 9.67 5.87 3.60 1.11
Other Current Assets		 0.23 0.36 0.82 0.82 0.32
Plant, Property, & Equipment, net		 0.02 0.07 0.08 0.04 0.01
Total Noncurrent Assets		 3.06 13 4.09 0.86 0.00
Total Liabilities & Shareholders' Equity		 11 25 13 6.86 1.96
Total Liabilities		 6.78 8.48 7.22 8.25 7.08
Total Current Liabilities		 6.78 6.25 6.60 8.15 6.58
Short-Term Debt		 0.75 2.21 2.69 3.79 2.65
Accounts Payable		 4.35 1.87 1.48 1.95 2.54
Other Current Liabilities		 1.68 2.17 2.43 1.91 1.39
Total Noncurrent Liabilities		 0.00 2.23 0.63 0.60 0.50
Other Noncurrent Operating Liabilities		 - 2.23 0.63 0.50 0.50
Total Equity & Noncontrolling Interests		 4.33 16 6.04 -1.39 -5.11
Total Preferred & Common Equity		 4.33 16 6.04 -1.39 -5.11
Preferred Stock		 0.00 0.00 0.00 0.00 7.44
Total Common Equity		 4.33 16 6.04 -1.39 -13
Common Stock		 1.04 19 25 26 21
Retained Earnings		 - -2.66 -19 -28 -34

Quarterly Balance Sheets for Healthcare Triangle

This table presents Healthcare Triangle's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric Q3 2022 Q1 2023 Q2 2023 Q1 2024 Q2 2024 Q3 2024 Q1 2025
Period end date 9/30/2022 3/31/2023 9/30/2023 3/31/2024 6/30/2024 9/30/2024 3/31/2025
Total Assets		 25 19 14 6.87 6.78 4.77 9.84
Total Current Assets		 11 6.44 4.89 3.17 2.33 1.78 9.84
Cash & Equivalents		 4.14 0.27 0.08 0.30 0.03 0.03 6.83
Accounts Receivable		 6.70 5.51 0.00 2.13 3.12 2.37 1.91
Other Current Assets		 0.23 0.66 0.62 0.77 0.30 0.15 1.11
Plant, Property, & Equipment, net		 0.08 0.07 0.05 0.03 0.02 0.02 0.00
Total Noncurrent Assets		 14 12 9.52 3.64 3.30 2.97 0.00
Total Liabilities & Shareholders' Equity		 25 19 14 6.87 6.02 4.77 12
Total Liabilities		 7.29 9.56 8.34 7.38 6.67 6.58 3.21
Total Current Liabilities		 5.06 7.33 6.85 6.00 6.17 6.08 3.21
Short-Term Debt		 2.45 2.95 3.48 1.80 1.73 1.08 0.78
Accounts Payable		 1.47 1.31 1.16 2.01 1.94 2.30 1.62
Other Current Liabilities		 1.14 3.08 2.21 2.19 1.17 1.37 0.82
Total Noncurrent Liabilities		 2.23 2.23 1.49 1.39 1.83 1.83 0.00
Other Noncurrent Operating Liabilities		 2.23 2.23 1.49 0.50 1.83 1.83 0.00
Total Equity & Noncontrolling Interests		 18 9.30 6.13 -0.51 -0.65 -1.82 8.58
Total Preferred & Common Equity		 18 9.30 6.13 -0.51 -0.65 -1.82 8.58
Preferred Stock		 0.00 0.00 0.00 0.00 0.00 0.00 7.44
Total Common Equity		 18 9.30 6.13 -0.51 -0.65 -1.82 1.14
Common Stock		 25 25 26 26 28 28 36
Retained Earnings		 -7.42 -16 -20 -27 -28 -30 -35

Annual Metrics And Ratios for Healthcare Triangle

This table displays calculated financial ratios and metrics derived from Healthcare Triangle's official financial filings.

Metric 2020 2021 2022 2023 2024
Period end date 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024
Growth Metrics		 - - - - -
Revenue Growth		 0.00% 12.54% 30.10% -27.64% -64.77%
EBITDA Growth		 0.00% -212.69% -239.96% 54.29% 52.98%
EBIT Growth		 0.00% -299.22% -204.65% 52.93% 38.25%
NOPAT Growth		 0.00% -453.59% -204.65% 52.86% 38.26%
Net Income Growth		 0.00% -352.78% -141.35% 39.50% 31.28%
EPS Growth		 0.00% -340.48% -141.35% 46.39% 45.67%
Operating Cash Flow Growth		 0.00% -868.05% 24.73% 59.82% 49.74%
Free Cash Flow Firm Growth		 0.00% 0.00% 93.02% 97.11% 1,924.78%
Invested Capital Growth		 0.00% 350.37% -61.93% -84.85% -411.82%
Revenue Q/Q Growth		 0.00% 0.00% 4.80% -11.30% -29.40%
EBITDA Q/Q Growth		 0.00% 0.00% -133.04% 21.44% 15.29%
EBIT Q/Q Growth		 0.00% 0.00% -81.47% 30.68% 48.84%
NOPAT Q/Q Growth		 0.00% 0.00% -81.47% 30.61% 48.77%
Net Income Q/Q Growth		 0.00% 0.00% -75.05% 26.77% 40.03%
EPS Q/Q Growth		 0.00% 0.00% -75.05% 24.91% 35.80%
Operating Cash Flow Q/Q Growth		 0.00% -172.41% -48.45% 56.79% -224.54%
Free Cash Flow Firm Q/Q Growth		 0.00% 0.00% 0.00% -100.41% 109.43%
Invested Capital Q/Q Growth		 0.00% 0.00% -60.29% 0.00% -33,022.22%
Profitability Metrics		 - - - - -
Gross Margin		 27.40% 29.83% 24.62% 20.41% 23.26%
EBITDA Margin		 11.14% -11.16% -29.16% -18.42% -24.59%
Operating Margin		 3.75% -15.19% -35.57% -23.18% -40.62%
EBIT Margin		 8.58% -15.19% -35.57% -23.14% -40.56%
Profit (Net Income) Margin		 7.51% -16.87% -31.29% -26.16% -51.03%
Tax Burden Percent		 90.14% 100.41% 103.65% 100.40% 100.20%
Interest Burden Percent		 97.08% 110.58% 84.86% 112.60% 125.57%
Effective Tax Rate		 9.86% 0.00% 0.00% 0.00% 0.00%
Return on Invested Capital (ROIC)		 28.82% -37.04% -99.87% -148.29% 0.00%
ROIC Less NNEP Spread (ROIC-NNEP)		 -170.58% 2,063.68% -928.09% -400.54% 0.00%
Return on Net Nonoperating Assets (RNNOA)		 25.55% -21.11% -29.63% -225.39% 0.00%
Return on Equity (ROE)		 54.37% -58.14% -129.50% -373.67% 183.52%
Cash Return on Invested Capital (CROIC)		 0.00% -164.36% -10.15% -0.92% 0.00%
Operating Return on Assets (OROA)		 24.21% -30.00% -86.19% -76.37% -107.59%
Return on Assets (ROA)		 21.19% -33.31% -75.82% -86.34% -135.37%
Return on Common Equity (ROCE)		 54.37% -58.14% -129.50% -373.67% 393.28%
Return on Equity Simple (ROE_SIMPLE)		 54.37% -36.87% -237.72% 624.44% 116.72%
Net Operating Profit after Tax (NOPAT)		 1.06 -3.75 -11 -5.39 -3.33
NOPAT Margin		 3.38% -10.63% -24.90% -16.22% -28.43%
Net Nonoperating Expense Percent (NNEP)		 199.40% -2,100.72% 828.22% 252.26% 118.00%
Return On Investment Capital (ROIC_SIMPLE)		 - - -130.96% -215.98% 134.97%
Cost of Revenue to Revenue		 72.60% 70.17% 75.38% 79.59% 76.74%
SG&A Expenses to Revenue		 7.78% 12.59% 12.03% 17.25% 33.77%
R&D to Revenue		 5.56% 14.91% 17.74% 2.41% 3.67%
Operating Expenses to Revenue		 23.64% 45.02% 54.34% 43.59% 63.88%
Earnings before Interest and Taxes (EBIT)		 2.69 -5.36 -16 -7.68 -4.74
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 3.49 -3.94 -13 -6.12 -2.88
Valuation Ratios		 - - - - -
Price to Book Value (P/BV)		 3.02 3.30 1.10 0.00 0.00
Price to Tangible Book Value (P/TBV)		 7.63 12.14 3.40 0.00 0.00
Price to Revenue (P/Rev)		 0.42 1.51 0.14 0.35 0.45
Price to Earnings (P/E)		 5.55 0.00 0.00 0.00 0.00
Dividend Yield		 0.00% 0.00% 0.00% 0.00% 0.00%
Earnings Yield		 18.03% 0.00% 0.00% 0.00% 0.00%
Enterprise Value to Invested Capital (EV/IC)		 3.37 3.24 1.27 14.77 0.00
Enterprise Value to Revenue (EV/Rev)		 0.40 1.52 0.17 0.43 1.31
Enterprise Value to EBITDA (EV/EBITDA)		 3.55 0.00 0.00 0.00 0.00
Enterprise Value to EBIT (EV/EBIT)		 4.61 0.00 0.00 0.00 0.00
Enterprise Value to NOPAT (EV/NOPAT)		 11.69 0.00 0.00 0.00 0.00
Enterprise Value to Operating Cash Flow (EV/OCF)		 0.00 0.00 0.00 0.00 0.00
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 0.00 0.00 0.00 24.98
Leverage & Solvency		 - - - - -
Debt to Equity		 0.17 0.14 0.44 -2.79 -0.52
Long-Term Debt to Equity		 0.00 0.00 0.00 -0.07 0.00
Financial Leverage		 -0.15 -0.01 0.03 0.56 -0.69
Leverage Ratio		 2.57 1.75 1.71 4.33 -1.36
Compound Leverage Factor		 2.49 1.93 1.45 4.87 -1.70
Debt to Total Capital		 14.84% 12.04% 30.77% 155.77% -107.55%
Short-Term Debt to Total Capital		 14.84% 12.04% 30.77% 151.88% -107.55%
Long-Term Debt to Total Capital		 0.00% 0.00% 0.00% 3.89% 0.00%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% -301.75%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital		 85.16% 87.96% 69.23% -55.77% 509.29%
Debt to EBITDA		 0.22 -0.56 -0.20 -0.64 -0.92
Net Debt to EBITDA		 -0.19 -0.11 -0.10 -0.43 -0.91
Long-Term Debt to EBITDA		 0.00 0.00 0.00 -0.02 0.00
Debt to NOPAT		 0.71 -0.59 -0.24 -0.72 -0.80
Net Debt to NOPAT		 -0.61 -0.12 -0.12 -0.49 -0.79
Long-Term Debt to NOPAT		 0.00 0.00 0.00 -0.02 0.00
Altman Z-Score		 4.91 4.60 -1.92 -4.09 -28.99
Noncontrolling Interest Sharing Ratio		 0.00% 0.00% 0.00% 0.00% -114.30%
Liquidity Ratios		 - - - - -
Current Ratio		 1.18 1.89 1.22 0.69 0.21
Quick Ratio		 1.15 1.83 1.09 0.59 0.16
Cash Flow Metrics		 - - - - -
Free Cash Flow to Firm (FCFF)		 0.00 -17 -1.16 -0.03 0.61
Operating Cash Flow to CapEx		 0.00% -9,002.53% -13,382.50% -17,925.00% 0.00%
Free Cash Flow to Firm to Interest Expense		 0.00 -29.36 -5.48 -0.03 0.50
Operating Cash Flow to Interest Expense		 -9.34 -12.54 -25.25 -2.22 -0.89
Operating Cash Flow Less CapEx to Interest Expense		 -9.34 -12.68 -25.44 -2.23 -0.89
Efficiency Ratios		 - - - - -
Asset Turnover		 2.82 1.97 2.42 3.30 2.65
Accounts Receivable Turnover		 4.90 4.39 5.91 7.02 4.97
Inventory Turnover		 0.00 0.00 0.00 0.00 0.00
Fixed Asset Turnover		 1,985.24 785.65 595.92 535.53 417.71
Accounts Payable Turnover		 5.23 7.95 20.63 15.39 4.00
Days Sales Outstanding (DSO)		 74.50 83.14 61.79 52.00 73.42
Days Inventory Outstanding (DIO)		 0.00 0.00 0.00 0.00 0.00
Days Payable Outstanding (DPO)		 69.78 45.89 17.70 23.72 91.33
Cash Conversion Cycle (CCC)		 4.72 37.25 44.10 28.28 -17.92
Capital & Investment Metrics		 - - - - -
Invested Capital		 3.68 17 6.31 0.96 -2.98
Invested Capital Turnover		 8.52 3.48 4.01 9.14 -11.55
Increase / (Decrease) in Invested Capital		 0.00 13 -10 -5.35 -3.94
Enterprise Value (EV)		 12 54 7.99 14 15
Market Capitalization		 13 53 6.65 11 5.21
Book Value per Share		 $0.16 $0.55 $0.15 ($0.33) ($2.38)
Tangible Book Value per Share		 $0.06 $0.15 $0.05 ($0.53) ($2.38)
Total Capital		 5.08 18 8.73 2.49 -2.46
Total Debt		 0.75 2.21 2.69 3.89 2.65
Total Long-Term Debt		 0.00 0.00 0.00 0.10 0.00
Net Debt		 -0.65 0.44 1.34 2.65 2.63
Capital Expenditures (CapEx)		 0.00 0.08 0.04 0.01 0.00
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 0.60 5.99 2.77 0.06 -2.99
Debt-free Net Working Capital (DFNWC)		 2.00 7.76 4.11 1.29 -2.97
Net Working Capital (NWC)		 1.25 5.55 1.43 -2.50 -5.62
Net Nonoperating Expense (NNE)		 -1.29 2.20 2.93 3.30 2.64
Net Nonoperating Obligations (NNO)		 -0.65 0.44 0.27 2.35 2.13
Total Depreciation and Amortization (D&A)		 0.80 1.42 2.94 1.57 1.87
Debt-free, Cash-free Net Working Capital to Revenue		 1.92% 16.99% 6.03% 0.17% -25.59%
Debt-free Net Working Capital to Revenue		 6.39% 22.01% 8.96% 3.88% -25.42%
Net Working Capital to Revenue		 3.98% 15.74% 3.11% -7.53% -48.08%
Earnings Adjustments		 - - - - -
Adjusted Basic Earnings per Share		 $0.00 ($2.02) ($2.62) $0.00 ($1.13)
Adjusted Weighted Average Basic Shares Outstanding		 0.00 2.94M 4.17M 0.00 5.28M
Adjusted Diluted Earnings per Share		 $0.00 ($2.02) ($2.62) $0.00 ($1.13)
Adjusted Weighted Average Diluted Shares Outstanding		 0.00 2.94M 4.17M 0.00 5.28M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 ($2.62) $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 0.00 3.59M 3.67M 0.00 0.00
Normalized Net Operating Profit after Tax (NOPAT)		 1.06 -3.75 -9.49 -4.19 -3.33
Normalized NOPAT Margin		 3.38% -10.63% -20.68% -12.62% -28.43%
Pre Tax Income Margin		 8.33% -16.80% -30.19% -26.05% -50.93%
Debt Service Ratios		 - - - - -
EBIT to Interest Expense		 34.20 -9.45 -77.00 -7.94 -3.91
NOPAT to Interest Expense		 13.49 -6.61 -53.90 -5.56 -2.74
EBIT Less CapEx to Interest Expense		 34.20 -9.59 -77.18 -7.95 -3.91
NOPAT Less CapEx to Interest Expense		 13.49 -6.75 -54.09 -5.58 -2.74
Payout Ratios		 - - - - -
Dividend Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00%
Augmented Payout Ratio		 0.00% 0.00% -0.98% 0.00% 0.00%

Quarterly Metrics And Ratios for Healthcare Triangle

This table displays calculated financial ratios and metrics derived from Healthcare Triangle's official financial filings.

Metric Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025
Period end date 9/30/2022 12/31/2022 3/31/2023 6/30/2023 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 47.93% 22.89% -11.02% -26.42% -34.90% -37.48% -58.23% -65.00% -68.98% -68.98% -9.86%
EBITDA Growth		 14.18% -341.93% -83.93% -244.58% 39.46% 79.93% 50.88% -28.33% 7.16% 105.57% 7.80%
EBIT Growth		 -26.95% -251.87% -61.96% -360.98% 32.18% 88.37% 46.42% 13.61% 23.43% 64.08% 24.87%
NOPAT Growth		 -26.95% -219.34% -62.56% -11.31% 32.18% 87.19% 46.62% 13.61% 23.43% 63.57% 18.39%
Net Income Growth		 -17.42% -178.59% -63.00% -340.99% 16.93% 82.52% 43.20% 15.45% 35.72% 19.71% 8.70%
EPS Growth		 0.00% -178.59% 0.00% 0.00% 29.69% 84.62% 0.00% 0.00% 51.11% -315.00% 59.52%
Operating Cash Flow Growth		 -148.47% -54.02% -556.70% -556.97% 0.00% 112.03% 96.88% 18.48% 0.00% -235.39% -11,014.00%
Free Cash Flow Firm Growth		 -193.56% 0.00% 102.61% 156.02% 206.25% 57.19% 2,028.23% -72.96% -105.45% -18.37% -96.51%
Invested Capital Growth		 352.33% -61.93% -18.20% -66.54% 0.00% -84.85% -84.38% -66.17% 0.00% -411.82% -68.95%
Revenue Q/Q Growth		 3.12% -5.51% -12.88% -13.34% -8.76% -9.24% -41.80% -27.38% -19.14% -9.24% 69.13%
EBITDA Q/Q Growth		 -368.67% -742.90% 39.79% 69.01% -12.50% -179.51% 49.60% 30.32% 18.61% 116.76% -934.92%
EBIT Q/Q Growth		 -549.42% -423.19% 32.95% 50.11% 4.45% 10.30% -25.31% 19.32% 15.31% 57.93% -162.12%
NOPAT Q/Q Growth		 -56.80% -374.81% 32.61% 50.30% 4.45% 10.30% -25.31% 19.32% 15.31% 57.33% -180.72%
Net Income Q/Q Growth		 -477.53% -310.56% 32.48% 45.52% -8.79% 13.59% -10.90% 18.90% 17.28% -7.93% -26.11%
EPS Q/Q Growth		 0.00% -310.56% 0.00% 0.00% 0.00% 11.11% -5.00% 0.00% 0.00% -654.55% 89.76%
Operating Cash Flow Q/Q Growth		 -488.05% -411.40% 28.05% 28.45% 0.00% 0.00% -108.35% -1,770.00% 176.47% -213.43% -585.20%
Free Cash Flow Firm Q/Q Growth		 17.76% 120.05% 291.71% 2,168.81% 56.00% -70.34% 102.70% -71.19% -131.46% 544.16% -91.32%
Invested Capital Q/Q Growth		 -0.43% -60.29% -10.98% -55.44% -100.00% 0.00% 95.71% -3.47% -100.50% -33,022.22% 119.49%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 28.69% 16.06% 16.19% 22.84% 21.94% 21.67% 24.68% 30.09% 29.92% 3.93% 8.88%
EBITDA Margin		 -11.20% -99.88% -23.61% -8.44% -10.41% -32.07% -27.77% -30.97% -31.16% 5.75% -28.40%
Operating Margin		 -18.80% -94.48% -32.62% -18.71% -19.59% -19.36% -41.69% -46.18% -48.36% -22.74% -37.74%
EBIT Margin		 -18.80% -104.11% -32.50% -18.71% -19.59% -19.36% -41.69% -46.18% -48.36% -22.42% -34.75%
Profit (Net Income) Margin		 -19.57% -85.04% -33.32% -20.95% -24.98% -23.78% -45.32% -50.60% -51.76% -61.55% -45.90%
Tax Burden Percent		 101.61% 104.88% 100.58% 100.28% 100.21% 100.42% 100.00% 100.07% 100.16% 100.30% 100.00%
Interest Burden Percent		 102.45% 77.88% 101.94% 111.66% 127.23% 122.31% 108.70% 109.51% 106.86% 273.73% 132.09%
Effective Tax Rate		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Invested Capital (ROIC)		 -59.42% -265.25% -76.61% -51.17% 0.00% -123.89% -115.76% -198.45% 0.00% 0.00% -243.32%
ROIC Less NNEP Spread (ROIC-NNEP)		 113.37% -868.27% -149.65% -177.37% 0.00% -179.10% -141.96% -264.00% 0.00% 0.00% -217.62%
Return on Net Nonoperating Assets (RNNOA)		 -4.96% -27.72% -17.76% -9.30% 0.00% -100.78% -81.70% -80.15% 0.00% 0.00% 151.46%
Return on Equity (ROE)		 -64.37% -292.97% -94.37% -60.47% 0.00% -224.67% -197.46% -278.60% 547.47% 183.52% -91.85%
Cash Return on Invested Capital (CROIC)		 0.00% -10.15% -41.24% 22.04% 0.00% -0.92% 83.32% -89.80% 0.00% 0.00% -148.06%
Operating Return on Assets (OROA)		 -45.42% -252.26% -70.59% -42.24% 0.00% -63.91% -89.02% -95.36% -168.10% -59.47% -46.95%
Return on Assets (ROA)		 -47.27% -206.06% -72.38% -47.30% 0.00% -78.49% -96.77% -104.49% -179.92% -163.27% -62.02%
Return on Common Equity (ROCE)		 -64.37% -292.97% -94.37% -60.47% 0.00% -224.67% -197.46% -278.60% 547.47% 393.28% -7.19%
Return on Equity Simple (ROE_SIMPLE)		 -46.66% 0.00% -116.92% -200.07% 0.00% 0.00% 1,422.70% 1,648.14% 547.47% 0.00% -67.70%
Net Operating Profit after Tax (NOPAT)		 -1.57 -7.47 -2.25 -1.12 -1.07 -0.96 -1.20 -0.96 -0.82 -0.35 -0.98
NOPAT Margin		 -13.16% -66.14% -22.83% -13.10% -13.71% -13.55% -29.18% -32.33% -33.85% -15.92% -26.42%
Net Nonoperating Expense Percent (NNEP)		 -172.79% 603.02% 73.04% 126.20% 0.00% 55.21% 26.20% 65.55% 47.77% 44.62% -25.70%
Return On Investment Capital (ROIC_SIMPLE)		 - -85.60% - - - -38.37% -55.21% - - 14.15% -10.46%
Cost of Revenue to Revenue		 71.31% 83.94% 83.81% 77.16% 78.06% 78.33% 75.32% 69.91% 70.08% 96.07% 91.12%
SG&A Expenses to Revenue		 12.38% 10.98% 16.55% 18.91% 17.53% 15.91% 28.74% 30.29% 44.63% 36.21% 32.34%
R&D to Revenue		 12.31% 43.88% 5.48% 1.20% 0.69% 1.47% 3.09% 6.94% 7.25% -3.65% 3.89%
Operating Expenses to Revenue		 47.49% 86.79% 48.81% 41.54% 41.53% 41.03% 66.37% 76.27% 78.28% 26.67% 46.63%
Earnings before Interest and Taxes (EBIT)		 -2.25 -12 -3.20 -1.60 -1.52 -1.37 -1.71 -1.38 -1.17 -0.49 -1.29
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 -1.34 -11 -2.32 -0.72 -0.81 -2.26 -1.14 -0.92 -0.75 0.13 -1.05
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 0.76 1.10 18.07 1.61 0.00 0.00 0.00 0.00 0.00 0.00 2.58
Price to Tangible Book Value (P/TBV)		 2.75 3.40 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 2.58
Price to Revenue (P/Rev)		 0.31 0.14 3.76 0.24 0.44 0.35 0.30 0.13 0.17 0.45 0.26
Price to Earnings (P/E)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Dividend Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Earnings Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Enterprise Value to Invested Capital (EV/IC)		 0.73 1.27 14.25 2.48 0.00 14.77 5.70 2.56 0.00 0.00 7.46
Enterprise Value to Revenue (EV/Rev)		 0.27 0.17 3.82 0.32 0.00 0.43 0.39 0.21 0.23 1.31 0.38
Enterprise Value to EBITDA (EV/EBITDA)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to EBIT (EV/EBIT)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to NOPAT (EV/NOPAT)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to Operating Cash Flow (EV/OCF)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 30.19 4.41 0.00 0.00
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 0.00 0.00 5.65 0.00 0.00 1.85 0.00 0.00 24.98 0.00
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 0.14 0.44 0.32 0.57 0.00 -2.79 -5.25 -2.67 -0.60 -0.52 0.09
Long-Term Debt to Equity		 0.00 0.00 0.00 0.00 0.00 -0.07 -1.74 0.00 0.00 0.00 0.00
Financial Leverage		 -0.04 0.03 0.12 0.05 0.00 0.56 0.58 0.30 -1.00 -0.69 -0.70
Leverage Ratio		 1.79 1.71 1.73 1.82 0.00 4.33 2.93 3.88 -2.62 -1.36 2.07
Compound Leverage Factor		 1.83 1.33 1.76 2.03 0.00 5.29 3.18 4.24 -2.80 -3.71 2.74
Debt to Total Capital		 12.25% 30.77% 24.04% 36.22% 0.00% 155.77% 123.53% 159.81% -147.01% -107.55% 8.29%
Short-Term Debt to Total Capital		 12.25% 30.77% 24.04% 36.22% 0.00% 151.88% 82.64% 159.81% -147.01% -107.55% 8.29%
Long-Term Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 3.89% 40.88% 0.00% 0.00% 0.00% 0.00%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% -301.75% 79.50%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital		 87.75% 69.23% 75.96% 63.78% 0.00% -55.77% -23.53% -59.81% 247.01% 509.29% 12.21%
Debt to EBITDA		 -0.43 -0.20 -0.37 -0.42 0.00 -0.64 -0.54 -0.51 -0.32 -0.92 -0.28
Net Debt to EBITDA		 0.29 -0.10 -0.34 -0.41 0.00 -0.43 -0.48 -0.50 -0.31 -0.91 2.17
Long-Term Debt to EBITDA		 0.00 0.00 0.00 0.00 0.00 -0.02 -0.18 0.00 0.00 0.00 0.00
Debt to NOPAT		 -0.39 -0.24 -0.36 -0.42 0.00 -0.72 -0.62 -0.26 -0.17 -0.80 -0.25
Net Debt to NOPAT		 0.27 -0.12 -0.33 -0.41 0.00 -0.49 -0.55 -0.25 -0.16 -0.79 1.95
Long-Term Debt to NOPAT		 0.00 0.00 0.00 0.00 0.00 -0.02 -0.20 0.00 0.00 0.00 0.00
Altman Z-Score		 2.44 -0.78 11.13 1.16 0.00 -1.05 -2.10 -3.69 -6.84 -21.83 -2.94
Noncontrolling Interest Sharing Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% -114.30% 92.18%
Liquidity Ratios		 - - - - - - - - - - -
Current Ratio		 2.19 1.22 0.88 0.71 0.00 0.69 0.53 0.38 0.29 0.21 3.07
Quick Ratio		 2.14 1.09 0.79 0.01 0.00 0.59 0.41 0.51 0.39 0.16 2.72
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 -14 2.80 0.42 9.50 15 4.40 8.91 2.57 -0.81 3.59 0.31
Operating Cash Flow to CapEx		 -24,350.00% -35,578.57% -40,075.00% 0.00% 0.00% 11,980.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Free Cash Flow to Firm to Interest Expense		 -253.58 33.70 6.75 51.07 35.71 14.41 59.80 19.61 -10.10 4.21 0.75
Operating Cash Flow to Interest Expense		 -17.71 -60.01 -25.85 -6.17 0.00 1.96 -0.34 -7.14 8.94 -0.95 -13.46
Operating Cash Flow Less CapEx to Interest Expense		 -17.78 -60.18 -25.92 -6.16 0.00 1.95 -0.34 -7.14 8.94 -0.95 -13.46
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 2.42 2.42 2.17 2.26 0.00 3.30 2.14 2.07 3.48 2.65 1.35
Accounts Receivable Turnover		 6.94 5.91 6.61 12.70 0.00 7.02 7.19 14.03 7.00 4.97 5.60
Inventory Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Fixed Asset Turnover		 685.13 595.92 569.02 640.09 0.00 535.53 549.48 600.88 974.47 417.71 0.00
Accounts Payable Turnover		 15.62 20.63 24.05 27.00 0.00 15.39 12.82 10.83 5.40 4.00 5.10
Days Sales Outstanding (DSO)		 52.57 61.79 55.23 28.74 0.00 52.00 50.75 26.02 52.11 73.42 65.22
Days Inventory Outstanding (DIO)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Days Payable Outstanding (DPO)		 23.36 17.70 15.18 13.52 0.00 23.72 28.48 33.69 67.63 91.33 71.59
Cash Conversion Cycle (CCC)		 29.21 44.10 40.05 15.22 0.00 28.28 22.27 -7.67 -15.52 -17.92 -6.37
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 16 6.31 12 5.34 0.00 0.96 1.87 1.81 -0.01 -2.98 0.58
Invested Capital Turnover		 4.51 4.01 3.36 3.91 0.00 9.14 3.97 6.14 -3,681.33 -11.55 9.21
Increase / (Decrease) in Invested Capital		 12 -10 -2.67 -11 -16 -5.35 -10 -3.53 -0.01 -3.94 -1.29
Enterprise Value (EV)		 12 7.99 171 13 0.00 14 11 4.62 3.83 15 4.33
Market Capitalization		 13 6.65 168 9.85 16 11 8.29 2.92 2.78 5.21 2.95
Book Value per Share		 $0.45 $0.15 $0.22 $0.14 $0.00 ($0.33) ($0.11) ($0.12) ($0.32) ($2.38) $0.12
Tangible Book Value per Share		 $0.12 $0.05 ($0.04) ($0.08) $0.00 ($0.53) ($0.93) ($0.74) ($0.84) ($2.38) $0.12
Total Capital		 20 8.73 12 9.61 0.00 2.49 2.17 1.08 -0.74 -2.46 9.35
Total Debt		 2.45 2.69 2.95 3.48 0.00 3.89 2.68 1.73 1.08 2.65 0.78
Total Long-Term Debt		 0.00 0.00 0.00 0.00 0.00 0.10 0.89 0.00 0.00 0.00 0.00
Net Debt		 -1.69 1.34 2.68 3.40 0.00 2.65 2.38 1.70 1.05 2.63 -6.05
Capital Expenditures (CapEx)		 0.00 0.01 0.00 -0.00 0.01 0.01 0.00 0.00 0.00 0.00 0.00
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 4.33 2.77 1.79 1.45 0.00 0.06 -1.33 -2.14 -3.25 -2.99 0.58
Debt-free Net Working Capital (DFNWC)		 8.47 4.11 2.06 1.52 0.00 1.29 -1.03 -2.11 -3.22 -2.97 7.41
Net Working Capital (NWC)		 6.02 1.43 -0.89 -1.96 0.00 -2.50 -2.83 -3.83 -4.30 -5.62 6.63
Net Nonoperating Expense (NNE)		 0.77 2.13 1.03 0.67 0.88 0.72 0.66 0.55 0.43 1.00 0.72
Net Nonoperating Obligations (NNO)		 -1.69 0.27 2.68 -0.79 0.00 2.35 2.38 2.45 1.81 2.13 -8.00
Total Depreciation and Amortization (D&A)		 0.91 0.48 0.87 0.88 0.71 -0.90 0.57 0.45 0.42 0.62 0.24
Debt-free, Cash-free Net Working Capital to Revenue		 9.89% 6.03% 4.00% 3.47% 0.00% 0.17% -4.85% -9.74% -19.59% -25.59% 5.15%
Debt-free Net Working Capital to Revenue		 19.35% 8.96% 4.60% 3.65% 0.00% 3.88% -3.75% -9.61% -19.43% -25.42% 65.60%
Net Working Capital to Revenue		 13.75% 3.11% -1.99% -4.71% 0.00% -7.53% -10.29% -17.48% -25.96% -48.08% 58.74%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $0.00 ($26.00) ($0.78) $0.00 $0.00 ($0.40) ($0.42) ($0.28) ($0.22) ($1.66) ($0.17)
Adjusted Weighted Average Basic Shares Outstanding		 3.60M 369.86K 4.28M 0.00 0.00 4.18M 4.46M 5.32M 5.67M 5.28M 9.84M
Adjusted Diluted Earnings per Share		 $0.00 ($26.00) ($0.78) $0.00 $0.00 ($0.40) $0.00 $0.00 ($0.22) ($1.66) ($0.17)
Adjusted Weighted Average Diluted Shares Outstanding		 3.60M 369.86K 4.28M 0.00 0.00 4.18M 5.62M 5.67M 5.67M 5.28M 9.84M
Adjusted Basic & Diluted Earnings per Share		 $0.00 ($26.00) ($0.78) $0.00 $0.00 ($0.40) $0.00 $0.00 $0.00 ($1.66) $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 4.16M 3.67M 4.19M 0.00 0.00 4.65M 5.62M 5.67M 0.00 0.00 0.00
Normalized Net Operating Profit after Tax (NOPAT)		 -1.57 -7.47 -2.25 -1.12 -1.07 -0.96 -1.20 -0.96 -0.82 -0.35 -0.98
Normalized NOPAT Margin		 -13.16% -66.14% -22.83% -13.10% -13.71% -13.55% -29.18% -32.33% -33.85% -15.92% -26.42%
Pre Tax Income Margin		 -19.26% -81.08% -33.13% -20.89% -24.93% -23.68% -45.32% -50.57% -51.68% -61.37% -45.90%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 -40.85 -141.64 -51.56 -8.58 -3.67 -4.48 -11.50 -10.52 -14.59 -0.58 -3.12
NOPAT to Interest Expense		 -28.60 -89.98 -36.23 -6.00 -2.57 -3.14 -8.05 -7.36 -10.21 -0.41 -2.37
EBIT Less CapEx to Interest Expense		 -40.93 -141.81 -51.63 -8.56 -3.68 -4.50 -11.50 -10.52 -14.59 -0.58 -3.12
NOPAT Less CapEx to Interest Expense		 -28.67 -90.15 -36.30 -5.99 -2.58 -3.15 -8.05 -7.36 -10.21 -0.41 -2.37
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Augmented Payout Ratio		 -1.11% -0.98% 0.00% 0.00% -0.43% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%

Financials Breakdown Chart

Key Financial Trends

Healthcare Triangle, Inc. (HCTI) has a history of volatile quarterly results over the last four years. Here are the standout trends based on the provided quarterly data, focusing on what may matter to retail investors.

  • Improved liquidity in Q1 2025: Cash & Equivalents rose to about $6.83 million, strengthening the balance sheet liquidity versus prior periods.
  • Large financing inflows in Q1 2025: Net Cash From Continuing Financing Activities was about $12.36 million, indicating a significant external funding boost.
  • Positive operating cash flow in a recent quarter: Net Cash From Continuing Operating Activities was $0.715 million in Q3 2024, showing a period of cash generation despite ongoing losses.
  • No long-term debt in the latest periods: Long-Term Debt is effectively zero across the recent quarters, reducing interest burden and leverage risk.
  • Investing cash flow is minimal: Net cash from investing activities has been largely flat or near zero in several quarters, suggesting limited capital expenditure activity.
  • Revenue has been volatile, with no sustained multi-quarter growth: Revenue fluctuates, with a high in 2023 and mid-2024 around the 2–3 million range, before a Q1 2025 uptick to about 3.70 million.
  • Persistent net losses across quarters: Net income regularly declines into losses (for example, -$1.70 million in Q1 2025, and similar levels in other periods).
  • Cash flow from operations frequently negative: Operating cash flow has been negative in most quarters, signaling ongoing cash burn not fully offset by operations.
  • Significant accumulated deficit in retained earnings: Retained Earnings sit deeply negative (e.g., -$35.27 million in Q1 2025), reflecting a long-running accumulated deficit.
  • Top-line decline from 2022–2023 peaks to 2024: Revenue fallen from the 7–8 million range in 2022–2023 to around 2–3 million in 2024, with only a modest rebound in early 2025.
05/26/26 09:28 AM ETAI Generated. May Contain Errors.

Healthcare Triangle Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Healthcare Triangle's financial year ends in December. Their financial year 2024 ended on December 31, 2024.

Healthcare Triangle's net income appears to be on an upward trend, with a most recent value of -$5.97 million in 2024, falling from $2.35 million in 2020. The previous period was -$8.69 million in 2023. Find out what analysts predict for Healthcare Triangle in the coming months.

Healthcare Triangle's total operating income in 2024 was -$4.75 million, based on the following breakdown:
  • Total Gross Profit: $2.72 million
  • Total Operating Expenses: $7.47 million

Over the last 4 years, Healthcare Triangle's total revenue changed from $31.34 million in 2020 to $11.70 million in 2024, a change of -62.7%.

Healthcare Triangle's total liabilities were at $7.08 million at the end of 2024, a 14.2% decrease from 2023, and a 4.4% increase since 2020.

In the past 4 years, Healthcare Triangle's cash and equivalents has ranged from $20 thousand in 2024 to $1.77 million in 2021, and is currently $20 thousand as of their latest financial filing in 2024.

Over the last 4 years, Healthcare Triangle's book value per share changed from 0.16 in 2020 to -2.38 in 2024, a change of -1,632.9%.



Financial statements for NASDAQ:HCTI last updated on 8/1/2025 by MarketBeat.com Staff. New filings and market data are monitored continuously.
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