Healthcare Triangle, Inc. (HCTI)

Nasdaq: HCTI · Services-Computer Integrated Systems Design · Pleasanton, CA · filing with the SEC since 2021

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Grade2.9

◀ Past 1.4● Present 3.7▶ Future 4.0

2 est.

Overview Business Financials Grade Forecast Sentiment Ownership People Filings Patents Chart

The grade of Healthcare Triangle, Inc.

Nine metrics read from its own filings, by tense

Headline grade

2.9/10

◀ Past1.440% of the headline

● Present3.735% of the headline

▶ Future4.025% of the headline

All three tenses have at least two readings, so the archetype blend applies as printed.

Of the nine metrics, 7 read as filed from the record and 2 are SI estimates, each with its reasoning, its confidence and what would change it on its card.

◀ Past

What did they actually do?

1.4/1040% of the headline grade · 2 of 3 filed, 1 estimated

Surviving crises

as filed

0.1/10

Has it survived what it has been through?

26 warning events since 2021; the latest 2026-10-02.

weight 33% of this tense · 1st percentile among 45 sector filers · read for itself

From the record

Healthcare Triangle, Inc.'s filings since 2021 show 26 warning events of 5 kinds: a debt default or acceleration notice (8-K item 2.04, 3 times, the latest 2024-10-25); a notice about its exchange listing (8-K item 3.01, 13 times, the latest 2026-10-02); a warning not to rely on past financial statements (8-K item 4.02, the latest 2025-02-18); an auditor change (8-K item 4.01, 5 times, the latest 2025-04-11); a late-report notice (Form NT 10-K or NT 10-Q, 4 times, the latest 2026-03-31) (its current reports).

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Track record

as filed

2.9/10

What has it actually done, year after year?

-15% a year over 6 filed years; profitable in 1 of 6.

weight 45% of this tense · 29th percentile among 38 sector filers · read for its customers

From the record

Healthcare Triangle, Inc.'s 6 filed years say what it did: revenue went from $31 million in fiscal 2020 to $14 million in fiscal 2025, down 15% a year; it rose in 3 of 5 years; the deepest fall was 75% from fiscal 2022 to fiscal 2024; net income was positive in 1 of 6 of those years (its annual reports).

What it rests on

revenue growth over the filed span-15.0%bottom 18% of its family
the share of years revenue rosebottom 42% of its family
the share of filed years with a profitbottom 41% of its family
the deepest fall from a revenue peak74.5%bottom 17% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Shareholder treatment

SI estimate

0.4/10

How has it treated the people who own it?

SI estimate 0.4/10, confidence 35 of 100 (one part).

weight 22% of this tense · 4th percentile among 41 sector filers · read for its shareholders

SI estimate Inferred, not read as filed

Why it is an estimate: Read from one part only, the share count over the years, which ranks in the bottom 4% of 41 in its family; fewer than two of the parts can be read: the share count over the years, and the cash returned against a positive operating cash flow or net income.
What the record cannot read: Fewer than two of the parts can be read: the share count over the years, and the cash returned against a positive operating cash flow or net income.
How it was reasoned: one part: the share count over the years, the one part on file, ranked among 41 in its family.
Confidence: 35 of 100
What would change it: A filing that carries the missing parts replaces this estimate with the filed reading.

From the record

SI estimate, not a filed reading: Healthcare Triangle, Inc.'s shareholder treatment is put at 0.4 of 10 with a confidence of 35 of 100, because read from one part only, the share count over the years, which ranks in the bottom 4% of 41 in its family; fewer than two of the parts can be read: the share count over the years, and the cash returned against a positive operating cash flow or net income. A filing that carries the missing parts replaces this estimate with the filed reading.

● Present

What are they doing right now?

3.7/1035% of the headline grade · 2 of 3 filed, 1 estimated

Financial health

as filed

4.2/10

Is it financially healthy right now?

ROE -95%: lost 95¢ per shareholder dollar. Leverage 56%: owes 56¢ per asset dollar.

weight 33% of this tense · 42nd percentile among 41 sector filers · read for itself

From the record

Return on equity: in the fiscal year ended 2025-12-31, Healthcare Triangle, Inc. lost about 95 cents for every dollar of shareholders' money, and gross profitability: its products earned about 5432 cents per dollar of everything the company owns. Leverage: it owed about 56 cents per dollar of assets, and net share issuance: its share count grew 17427.8% over the year (the filed statements).

What it rests on

what it owes per dollar of assetstop 46% of its family
return on equitybottom 14% of its family
gross profit against assetstop 1% of its family
the share count against the year beforebottom 1% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Industry position

as filed

2.7/10

How strong is its position in its industry?

bottom 27% of 40 in its family; net margin -68.2%.

weight 45% of this tense · 27th percentile among 40 sector filers · read for its customers

From the record

Healthcare Triangle, Inc.'s standing among 40 graded names in its industry family: revenue of $14 million in fiscal 2025 ranks in the bottom 29% by size; a net margin of -68.2% ranks in the bottom 36%; revenue growth of -32.8% a year over the last 3 filed years ranks in the bottom 16% (its annual reports).

What it rests on

revenue against the family$13.9Mbottom 29% of its family
net margin-68.2%bottom 36% of its family
three-year revenue growth-32.8%bottom 16% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Leadership

SI estimate

5.2/10

What are the people in charge doing?

SI estimate 5.2/10, confidence 20 of 100 (family median).

weight 22% of this tense · 50th percentile among 29 sector filers · read for its shareholders

SI estimate Inferred, not read as filed

Why it is an estimate: No officer or director has filed a Form 3, 4 or 5 for it in the last fifteen months, so the years in charge cannot be read, so the desk assumes the typical reading of its industry family, the median of 29 members with one.
What the record cannot read: No officer or director has filed a Form 3, 4 or 5 for it in the last fifteen months, so the years in charge cannot be read.
How it was reasoned: family median, 29 readings behind it.
Confidence: 20 of 100
What would change it: Its next annual report on file with the inputs replaces this estimate with the filed reading.

From the record

SI estimate, not a filed reading: Healthcare Triangle, Inc.'s leadership is put at 5.2 of 10 with a confidence of 20 of 100, because no officer or director has filed a Form 3, 4 or 5 for it in the last fifteen months, so the years in charge cannot be read, so the desk assumes the typical reading of its industry family, the median of 29 members with one. Its next annual report on file with the inputs replaces this estimate with the filed reading.

▶ Future

What are they set up to do next?

4.0/1025% of the headline grade · 3 of 3 filed

Room to expand

as filed

5.7/10

How much room does it have to grow?

top 43% of 39 in its family for room to expand.

weight 22% of this tense · 57th percentile among 39 sector filers · read for itself

From the record

Healthcare Triangle, Inc.'s room to grow, from the newest filed statements (fiscal 2025): cash of $8 million against no long-term debt tagged leaves 33.5% of its assets as net cash, top 16% of its family; cash from operations less capital spending is -119% of revenue (bottom 29%); a gross margin of 8890.6% (top 2%); research spending of 3.9% of revenue (bottom 15%) (its annual report).

What it rests on

cash less debt against assets33.5%top 16% of its family
cash from operations less capital spending against revenue-119.0%bottom 29% of its family
gross margin8890.6%top 2% of its family
research spending against revenue3.9%bottom 15% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Growth drivers

as filed

2.6/10

What could actually drive growth from here?

bottom 26% of 38 in its family for growth drivers.

weight 45% of this tense · 26th percentile among 38 sector filers · read for its customers

From the record

Healthcare Triangle, Inc.'s growth drivers, from the filed years to fiscal 2025: revenue grew -32.8% a year over the last three filed years against -15% over all 6, slowing (bottom 23% of its family); the newest year grew 18.8% (top 28%); research spending grew -59.6% a year (bottom 2%); capital spending grew -46.9% a year (bottom 7%) (its annual reports). Healthcare Triangle, Inc. tags no split of its revenue by line in the annual report on file, so growth by line cannot be read here; research and capital spending are on the trend.

What it rests on

three-year growth against the whole span-17.8 points a yearbottom 23% of its family
the newest year's revenue growth18.8%top 28% of its family
three-year growth of research spending-59.6%bottom 2% of its family
three-year growth of capital spending-46.9%bottom 7% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Expectations vs reality

as filed

4.8/10

Did its newest year beat what its own record pointed to?

bottom 48% of 32 in its family for expectations against reality.

weight 33% of this tense · 48th percentile among 32 sector filers · read for its shareholders

From the record

Healthcare Triangle, Inc.'s newest year against its own record: revenue of $14 million in fiscal 2025 came in 135.1% above the $6 million its prior three years' pace pointed to (top 11% of its family); net income of $9 million against a prior three-year average of $10 million (bottom 44%); a net margin of -68.2% against -36.2% before (bottom 11%) (its annual reports).

What it rests on

revenue against the prior three years' pace135.1%top 11% of its family
net income against the prior three years' average+2%bottom 44% of its family
net margin against its prior average-32.1 pointsbottom 11% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

The grade is the company against its own industry, from its filings. It is not a view on the share price. How the grade is made

SI Assistanton HCTI · research, not advice