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Healthcare Triangle, Inc (HCTI) Reports Fourth Quarter and Full Year 2021 Results
PLEASANTON, Calif., March 08, 2022 (GLOBE NEWSWIRE) -- Healthcare Triangle, Inc (HCTI), a leading provider of Healthcare and Life Sciences cloud
About this update from Healthcare Triangle, Inc.
[{"type":"text","content":"PLEASANTON, Calif., March 08, 2022 (GLOBE NEWSWIRE) -- Healthcare Triangle, Inc (HCTI), a leading provider of Healthcare and Life Sciences cloud transformation, managed services and data analytics platform company today announced financial results for its fourth quarter and full year ended December 31, 2021. “We had a strong finish to the quarter,” said Suresh Venkatachari, Chairman and CEO of Healthcare Triangle. “I’m incredibly proud of the focus and dedication of our employees as we continue to innovate on our platforms and execute on our strategy.” “With our acquisition of Devcool Inc, we will expand our addressable market opportunities in the healthcare provider space, which will also offer our cloud and data analytics solutions on SaaS that drive better outcomes while lowering overall healthcare costs.” Fourth quarter 2021 financial results Revenue: Total revenue was $9.2 million, representing growth of 2% compared to the fourth quarter of 2020.GAAP (Loss) from Operations: GAAP (loss) from operations was $(3.4) million, compared to $1.8 million in the fourth quarter of 2020.GAAP Net (Loss) Per Share: GAAP basic and diluted net (loss) per share was $(0.12) based on 29.4 million weighted-average shares outstanding, compared to $0.07 based on 27.9 million weighted-average shares outstanding in the fourth quarter of 2020.Net Cash Provided by Operating Activities: Net cash provided by operating activities was ($3.4) million, compared to $1.3 million in the fourth quarter of 2020.Cash, Cash Equivalents and Marketable Securities: Cash, cash equivalents, and marketable securities were $1.7 million as of December 31, 2021. Full year 2021 financial results Revenue: Total revenue was $35.2 million, representing growth of 13% compared to 2020.GAAP (Loss) from Operations: GAAP (loss) from operations was $(5.9) million, compared to $2.3 million in 2020.GAAP Net (Loss) Per Share: GAAP basic and diluted net (loss) per share was $(0.20) based on 29.4 million weighted-average shares outstanding, compared to $(0.08) based on 27.9 million weighted-average shares outstanding in 2020.Net Cash Provided by Operating Activities: Net cash provided by operating activities was $(7.3) million, compared to $(0.7) million in 2020. Key Metrics and Recent Business Highlights Advanced to Google Cloud Premier Partner status. Acquired EHR focused Healthcare ...