Healthcare Triangle (HCTI)
Market Price (6/20/2026): $2.22 | Market Cap: $2.1 MilSector: Health Care | Industry: Health Care Technology
Healthcare Triangle (HCTI)
Market Price (6/20/2026): $2.22Market Cap: $2.1 MilSector: Health CareIndustry: Health Care Technology
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Strong revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is 77% Megatrend and thematic driversMegatrends include Digital Health & Telemedicine, and Cybersecurity. Themes include Health Data Analytics, AI in Healthcare Management, Show more. | Weak multi-year price returns2Y Excs Rtn is -138%, 3Y Excs Rtn is -172% | Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -12 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -59% Debt is significantNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 322% Weak revenue growthRev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -6.6% Not cash flow generativeCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -89%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -97% Valuation getting more expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is 1468% Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -690% High stock price volatilityVol 12M is 185% Key risksHCTI key risks include [1] significant financial instability and liquidity challenges, Show more. |
| Strong revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is 77% |
| Megatrend and thematic driversMegatrends include Digital Health & Telemedicine, and Cybersecurity. Themes include Health Data Analytics, AI in Healthcare Management, Show more. |
| Weak multi-year price returns2Y Excs Rtn is -138%, 3Y Excs Rtn is -172% |
| Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -12 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -59% |
| Debt is significantNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 322% |
| Weak revenue growthRev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -6.6% |
| Not cash flow generativeCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -89%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -97% |
| Valuation getting more expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is 1468% |
| Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -690% |
| High stock price volatilityVol 12M is 185% |
| Key risksHCTI key risks include [1] significant financial instability and liquidity challenges, Show more. |
Qualitative Assessment
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Healthcare Triangle (HCTI) stock has lost about 45% since 2/28/2026 because of the following key factors:
1. Healthcare Triangle reported a substantial earnings miss for Q1 2026, significantly underperforming analyst expectations. The company posted an earnings per share (EPS) of -$6.81 for Q1 2026, missing analysts' estimates of -$0.20 by 3,305.00%. While revenue increased to $9.86 million compared to $3.7 million a year earlier, the company recorded a larger net loss of $6.2 million and negative operating cash flow of $6.86 million.
2. Shareholder dilution from capital raises has been a persistent concern impacting investor confidence. On February 26, 2026, Healthcare Triangle announced a registered direct offering of 681,553 shares at $5.81 per share, expected to yield approximately $3.959 million in gross proceeds, which could dilute existing shareholders. Moreover, the company’s Q1 2026 results included a $2.44 million fair-value loss on 2025 convertible notes and an increase of $8.47 million in additional debt with credit institutions. Over the past year, shareholders have experienced substantial dilution, with total shares outstanding growing by 7317.2%.
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Healthcare Triangle (HCTI) stock has lost about 45% since 2/28/2026 because of the following key factors:
1. Healthcare Triangle reported a substantial earnings miss for Q1 2026, significantly underperforming analyst expectations. The company posted an earnings per share (EPS) of -$6.81 for Q1 2026, missing analysts' estimates of -$0.20 by 3,305.00%. While revenue increased to $9.86 million compared to $3.7 million a year earlier, the company recorded a larger net loss of $6.2 million and negative operating cash flow of $6.86 million.
2. Shareholder dilution from capital raises has been a persistent concern impacting investor confidence. On February 26, 2026, Healthcare Triangle announced a registered direct offering of 681,553 shares at $5.81 per share, expected to yield approximately $3.959 million in gross proceeds, which could dilute existing shareholders. Moreover, the company’s Q1 2026 results included a $2.44 million fair-value loss on 2025 convertible notes and an increase of $8.47 million in additional debt with credit institutions. Over the past year, shareholders have experienced substantial dilution, with total shares outstanding growing by 7317.2%.
3. Negative analyst sentiment and "Sell" ratings have likely contributed to the downward trend. Wall Street analysts have issued a consensus rating of "Sell" or "Strong Sell" for Healthcare Triangle. The average one-year price target from analysts for HCTI ranged significantly, with some forecasts indicating potential decreases, reflecting a generally pessimistic outlook on the stock's future performance.
4. The company’s historical struggles with Nasdaq listing requirements and the necessity of a reverse stock split have likely eroded investor trust. Healthcare Triangle previously received a Nasdaq non-compliance notice regarding its minimum bid price. To address this, the company effected a 1-for-249 reverse stock split of its common stock to regain compliance with Nasdaq's minimum bid price requirement. Such actions often signal underlying financial difficulties and can negatively affect market perception and investor confidence.
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Stock Movement Drivers
Fundamental Drivers
The -47.1% change in HCTI stock from 2/28/2026 to 6/19/2026 was primarily driven by a -92.0% change in the company's Shares Outstanding (Mil).| (LTM values as of) | 2282026 | 6192026 | Change |
|---|---|---|---|
| Stock Price ($) | 4.14 | 2.19 | -47.1% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 13 | 20 | 54.9% |
| P/S Multiple | 0.0 | 0.1 | 329.2% |
| Shares Outstanding (Mil) | 0 | 1 | -92.0% |
| Cumulative Contribution | -47.1% |
Market Drivers
2/28/2026 to 6/19/2026| Return | Correlation | |
|---|---|---|
| HCTI | -47.1% | |
| Market (SPY) | 9.2% | 30.6% |
| Sector (XLV) | -6.4% | 25.6% |
Fundamental Drivers
The -98.4% change in HCTI stock from 11/30/2025 to 6/19/2026 was primarily driven by a -92.0% change in the company's Shares Outstanding (Mil).| (LTM values as of) | 11302025 | 6192026 | Change |
|---|---|---|---|
| Stock Price ($) | 134.40 | 2.19 | -98.4% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 13 | 20 | 54.9% |
| P/S Multiple | 0.8 | 0.1 | -86.8% |
| Shares Outstanding (Mil) | 0 | 1 | -92.0% |
| Cumulative Contribution | -98.4% |
Market Drivers
11/30/2025 to 6/19/2026| Return | Correlation | |
|---|---|---|
| HCTI | -98.4% | |
| Market (SPY) | 9.9% | 18.1% |
| Sector (XLV) | -4.4% | 8.7% |
Fundamental Drivers
The -98.2% change in HCTI stock from 5/31/2025 to 6/19/2026 was primarily driven by a -99.7% change in the company's Shares Outstanding (Mil).| (LTM values as of) | 5312025 | 6192026 | Change |
|---|---|---|---|
| Stock Price ($) | 121.01 | 2.19 | -98.2% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 11 | 20 | 77.5% |
| P/S Multiple | 0.0 | 0.1 | 213.6% |
| Shares Outstanding (Mil) | 0 | 1 | -99.7% |
| Cumulative Contribution | -98.2% |
Market Drivers
5/31/2025 to 6/19/2026| Return | Correlation | |
|---|---|---|
| HCTI | -98.2% | |
| Market (SPY) | 28.1% | 15.1% |
| Sector (XLV) | 14.6% | 13.4% |
Fundamental Drivers
The -100.0% change in HCTI stock from 5/31/2023 to 6/19/2026 was primarily driven by a -100.0% change in the company's Shares Outstanding (Mil).| (LTM values as of) | 5312023 | 6192026 | Change |
|---|---|---|---|
| Stock Price ($) | 39740.40 | 2.19 | -100.0% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 45 | 20 | -55.1% |
| P/S Multiple | 0.2 | 0.1 | -59.2% |
| Shares Outstanding (Mil) | 0 | 1 | -100.0% |
| Cumulative Contribution | -100.0% |
Market Drivers
5/31/2023 to 6/19/2026| Return | Correlation | |
|---|---|---|
| HCTI | -100.0% | |
| Market (SPY) | 85.7% | 8.6% |
| Sector (XLV) | 22.9% | 0.6% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| HCTI Return | -50% | -90% | 53% | -64% | -100% | -94% | -100% |
| Peers Return | 9% | -14% | -25% | 3% | -4% | -23% | -46% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 8% | 98% |
Monthly Win Rates [3] | |||||||
| HCTI Win Rate | 0% | 17% | 42% | 42% | 33% | 17% | |
| Peers Win Rate | 44% | 38% | 46% | 47% | 45% | 40% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 50% | |
Max Drawdowns [4] | |||||||
| HCTI Max Drawdown | - | -93% | -56% | -91% | -100% | -94% | |
| Peers Max Drawdown | -22% | -56% | -54% | -36% | -47% | -38% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: OMCL, MDRX, BEAT, VEEV, SOLV.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 6/18/2026 (YTD)
About Healthcare Triangle (HCTI)
Healthcare Triangle, Inc. (HCTI) is a healthcare information technology company focused on delivering cloud services, data science, and professional and managed services. The company's primary objective is to empower healthcare and pharmaceutical organizations to achieve personalized care, precision medicine, advancements in drug discovery and development, and comprehensive digital transformation through its suite of specialized software, platforms, and services.
HCTI offers key proprietary software platforms, including CloudEz, an enterprise multi-cloud transformation and management platform, and DataEz, a cloud-based data analytics and data science platform tailored for life sciences and healthcare providers. It also provides Readabl.AI, a Software-as-a-Service (SaaS) solution that leverages artificial intelligence and machine learning to extract critical information from healthcare documents. Beyond these platforms, HCTI delivers extensive cloud IT services and healthcare IT services, such as electronic health record (EHR) implementation and optimization, as well as application managed services. The company primarily serves a diverse clientele within the healthcare ecosystem, including healthcare delivery organizations, insurance companies, pharmaceutical and life sciences firms, biotech companies, and medical device manufacturers.
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Here are a couple of analogies to describe Healthcare Triangle (HCTI):
- Like an AWS or Microsoft Azure, but exclusively focused on providing cloud services, infrastructure, and digital transformation solutions for the healthcare and pharmaceutical industries.
- Imagine a Snowflake or Palantir, but purpose-built for managing, analyzing, and extracting insights from complex data specifically within the life sciences and healthcare sectors.
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- CloudEz: An enterprise multi-cloud transformation and management platform.
- DataEz: A cloud-based data analytics and data science platform for life sciences/pharmaceutical and healthcare provider organizations.
- Readabl.AI: A Software-as-a-Service solution that uses AI/ML to recognize and extract healthcare information from documents.
- Cloud IT Services: Services encompassing various aspects of cloud infrastructure and operations.
- Healthcare IT Services: Services including electronic health records implementation, optimization, application managed services, and public cloud backup and disaster recovery.
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Healthcare Triangle (HCTI) sells primarily to other companies. Its major customers fall into the following categories:
- Healthcare delivery organizations (e.g., hospitals, health systems, clinics)
- Healthcare insurance companies
- Pharmaceutical and life sciences companies
- Biotech companies
- Medical device manufacturers
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Anand Kumar, Interim Chief Executive Officer
Anand Kumar was appointed interim Chief Executive Officer of Healthcare Triangle, Inc. in March 2024, concurrently maintaining his role as Chief Revenue Officer. He brings over two decades of experience, having consistently driven organizations in areas such as infrastructure modernization, data democratization, AI integration, application modernization, and cloud security. Mr. Kumar possesses deep expertise in the pharmaceutical, life-sciences, and healthcare industries. His background includes over 14 years in leadership, particularly in Cybersecurity, Cloud, Data, and AI, from previous roles across various technology companies. He holds degrees in Computer Science and Business Administration and is currently enhancing his skills through a program at Wharton Business School.
David Ayanoglou, Chief Financial Officer
David Ayanoglou was appointed Chief Financial Officer of Healthcare Triangle, Inc. in April 2025. He has over 22 years of corporate finance experience, specializing in software M&A and financial reporting. Prior to joining Healthcare Triangle, Mr. Ayanoglou served as Director of Valuations and Transaction Support at Open Text for over 13 years, where he was involved in executing more than 43 transactions, with deal sizes up to $1.62 billion, including the acquisition of divisions of Dell/EMC. His involvement in these acquisitions significantly contributed to Open Text's market capitalization increasing by over $11 billion during his tenure. Mr. Ayanoglou also held senior finance roles, including external reporting for a large SEC filer, and audit & assurance at KPMG LLP. He is a graduate of the University of Toronto (Rotman School of Business), a CPA, Chartered Accountant, and a Chartered Business Valuator.
Sujatha Ramesh, Chief Operating Officer
Sujatha Ramesh was appointed Chief Operating Officer of Healthcare Triangle, Inc. in March 2025 and also serves as a Director on the Board. She brings over 25 years of senior executive experience from the Technology and Financial Services sectors. Ms. Ramesh specializes in strategic transformation, technology leadership, operational efficiency, and regulatory compliance, and has successfully led multi-million-dollar initiatives and enterprise-wide transformations globally. Before her role at Healthcare Triangle, she served as Global Head of Strategic Initiatives at Citigroup, and held leadership positions at Publicis Sapient, Infinite Computer Solutions, and Capgemini (formerly iGATE Global Solutions). She holds an MBA from NYU's Leonard N. Stern School of Business and a Master of Science in Information Systems and Applications.
Suresh Venkatachari, Founder & Promoter
Suresh Venkatachari is the Founder and Promoter of Healthcare Triangle, Inc., which was established in 2019. He is also a co-founder of SecureKloud Technologies (founded in October 2008) and the founder of 8K Miles Media Group, Inc. Mr. Venkatachari currently serves as the Chairman & Chief Executive Officer of SecureKloud Technologies Ltd. (since 2024) and Securekloud Technologies, Inc. (since 2009). He previously served as Chairman & Chief Executive Officer of Healthcare Triangle, Inc. from its founding. With over 30 years of experience, he has created and managed businesses in cloud, e-commerce, IT solutions, and consulting services across the healthcare, life sciences, and banking sectors, successfully leading five different companies.
Dave Rosa, Chairman of the Board
Dave Rosa serves as the Chairman of the Board at Healthcare Triangle, Inc. He plays a key role in the company's governance, also chairing the Compensation Committee and serving as a member of the Audit Committee.
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Key Risks to Healthcare Triangle (HCTI)
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Data Security, Privacy, and Regulatory Compliance
Healthcare Triangle operates extensively with sensitive healthcare and pharmaceutical data across its cloud services, data science platforms, and IT services. This exposes the company to significant risks related to data breaches, cyberattacks, and non-compliance with stringent healthcare data privacy regulations such as HIPAA (Health Insurance Portability and Accountability Act), HITECH Act, GDPR, and other industry-specific compliance requirements (e.g., GxP for pharma). Any failure to protect this data or adhere to evolving regulatory frameworks could lead to severe financial penalties, legal liabilities, reputational damage, and loss of customer trust and business.
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Intense Competition and Rapid Technological Change
The markets for cloud services, data analytics, artificial intelligence, and healthcare IT are highly competitive and characterized by rapid technological advancements. Healthcare Triangle's platforms (CloudEz, DataEz, Readabl.AI) and services compete with offerings from major cloud providers (Amazon Web Services, Microsoft Azure, Google Cloud Platform), established enterprise software vendors, and numerous specialized healthcare IT and data science companies. The company must continuously innovate, update its technologies, and invest in research and development to remain competitive and prevent its solutions from becoming obsolete. Failure to keep pace with technological changes or effectively differentiate its offerings could adversely impact its market share and profitability.
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Reliance on the Healthcare and Pharmaceutical Sectors
Healthcare Triangle's business is heavily dependent on clients within the healthcare delivery, healthcare insurance, pharmaceutical, life sciences, biotech, and medical device manufacturing sectors. This concentration makes the company vulnerable to specific risks affecting these industries. Factors such as shifts in government healthcare policy, changes in healthcare spending, economic downturns impacting pharmaceutical R&D budgets, or consolidation within these client sectors could lead to reduced demand for HCTI's services and solutions.
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The rapid advancement and integration of specialized Generative Artificial Intelligence (AI) and Large Language Models (LLMs) by major public cloud providers (such as Amazon Web Services, Microsoft Azure, and Google Cloud) pose an emerging threat. Healthcare Triangle's platforms, like Readabl.AI, leverage public cloud AI/ML for extracting information from healthcare documents. If these foundational cloud providers develop and offer increasingly sophisticated, pre-trained, and directly consumable AI/LLM solutions specifically tailored for healthcare data extraction, analysis, and insights — at a level that diminishes the unique value and differentiation of HCTI's proprietary platforms — it could significantly impact HCTI's competitive position in its data science and AI offerings.
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Healthcare Triangle (HCTI) operates in several significant addressable markets within the healthcare information technology sector. Below are the estimated market sizes for its main product and service categories:
Cloud Services (CloudEz platform)
The global healthcare cloud computing market was valued at approximately USD 19.6 billion in 2023 and is projected to grow to USD 45.1 billion by 2030. Other estimates place the global market size at USD 63.55 billion in 2025, with a projection to reach USD 251.15 billion by 2034. Another report estimates the market at USD 63.9 billion in 2025, expected to reach about USD 312.97 billion by 2035. North America held a dominant position in this market, accounting for 44.1% of the global share in 2023. In 2025, North America's share was about 39.60%.
Data Science and Analytics (DataEz platform)
The global healthcare analytics market was valued at USD 44.83 billion in 2024 and is projected to reach USD 166.65 billion by 2030. Another source estimates the global healthcare analytics market size at USD 55.18 billion in 2024, expected to grow to USD 371.49 billion by 2033. The global healthcare big data analytics market was valued at USD 52.1 billion in 2025 and is estimated to reach USD 130.2 billion by 2034. North America leads the healthcare big data analytics market, holding over 52.5% of the market share in 2025.
Professional and Managed Services
The global healthcare IT services market size was estimated at USD 72.23 billion in 2025 and is expected to reach around USD 212.97 billion by 2035. Another report estimated the global healthcare IT services market size at USD 143.43 billion in 2022, projected to reach USD 382.27 billion by 2030. The broader global managed services market, which includes healthcare as an end-use sector, was valued at USD 304.6 billion in 2024 and is expected to reach USD 570.8 billion by 2033. The overall global healthcare IT market, including services, was valued at USD 761.68 billion in 2024 and is projected to grow to USD 3,257.26 billion by 2034. In this market, the service segment held the largest revenue share, and North America led the market in 2024.
Readabl.AI (AI/ML in healthcare information extraction)
The global artificial intelligence (AI) in healthcare market, under which Readabl.AI falls, was valued at USD 18.7 billion in 2023 and is expected to grow to USD 252.9 billion by 2032 for the software segment. Other estimates for the global AI in healthcare market size include USD 36.67 billion in 2025, projected to reach USD 505.59 billion by 2033. Another source estimates the market size at USD 38.01 billion in 2025, expected to reach USD 1222.12 billion by 2035. North America held the largest share in the AI in healthcare market, accounting for over 54% in 2025. The U.S. AI in healthcare market alone is estimated at USD 14.25 billion in 2025 and is expected to reach USD 446.38 billion by 2035.
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Healthcare Triangle, Inc. (HCTI) is anticipated to drive future revenue growth over the next two to three years through several key initiatives:
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Expansion and Monetization of the Ezovion Platform: Healthcare Triangle's subsidiary, QuantumNexis, expects significant growth from its Ezovion Electronic Medical Record (EMR) platform. Projections indicate an increase in end-user revenue processed through the platform from over $20 million to $37 million within six months. This growth is fueled by aggressive international expansion and deeper engagement with existing customers. Additionally, the launch of an integrated payment gateway aims to directly monetize transaction flows, converting platform activity into predictable recurring revenue for HCTI, with initial deployments planned for late 2025 and global scaling throughout 2026.
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Strategic Acquisitions, notably the AI Customer Engagement Business: The company has signed an advance agreement for the acquisition of a next-generation AI customer engagement business. This strategic move is expected to generate approximately $34 million in incremental annual revenue and $4.2 million in incremental EBITDA for fiscal year 2025. The acquisition is poised to combine HCTI's healthcare technology expertise with AI automation platforms to create an integrated ecosystem for intelligent and personalized patient engagement.
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Global Market Expansion: Beyond the specific growth of Ezovion, Healthcare Triangle is actively pursuing broader international expansion for its digital health transformation solutions. This includes accelerating its global reach, with specific mentions of expansion into India, Bangladesh, Saudi Arabia, and Malaysia for the Ezovion platform, and the launch of Dubai, UAE operations to enhance digital health transformation across the GCC Countries.
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Increased Adoption and Development of AI/ML-Driven Solutions: The company is strategically leveraging artificial intelligence and machine learning to improve productivity and enhance its service offerings. This includes its Readabl.AI Software-as-a-Service solution mentioned in the background, and the newly acquired AI customer engagement business. The focus on AI and automation is expected to lead to new product offerings and increased value for customers, thereby driving revenue growth.
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Share Repurchases
- Healthcare Triangle, Inc. approved a share repurchase plan of up to $2,000,000 on March 9, 2026, which became effective immediately.
- The plan allows for repurchases through open market transactions, privately negotiated transactions, or other means.
Share Issuance
- On February 26, 2026, Healthcare Triangle announced approximately $3.959 million in registered direct financing of common stock priced at-the-market.
- The company completed a $3.95 million registered direct stock sale on February 27, 2026, which included 421,553 shares of common stock and 260,000 prefunded warrants.
- An S-3 Shelf Registration was effective on November 19, 2025, for the resale of 1,458,118 shares of common stock tied to inducement and advisor warrants, with the company having received $2.85 million from prior warrant exercises and potentially more at $3.00.
Outbound Investments
- Healthcare Triangle signed a $50 million deal to acquire AI firms on January 22, 2026.
- The company's subsidiary, QuantumNexis Inc., launched operations in Dubai, UAE, on February 27, 2026, to accelerate digital health transformation in GCC countries.
- A strategic partnership was announced on February 25, 2026, between Healthcare Triangle's subsidiary QuantumNexis and TNG Digital to provide digital mental health solutions in Malaysia.
Capital Expenditures
- Capital expenditures for Healthcare Triangle in the last 12 months were -$6,000.
- The company's trailing twelve months (TTM) CapEx CAGR 5YRS stood at 0%.
- Over the past five years, the average CapEx CAGR 5YRS for Healthcare Triangle was 0%.
Latest Trefis Analyses
| Title | Date | |
|---|---|---|
| DASHBOARDS | ||
| Would You Still Hold Healthcare Triangle Stock If It Fell Another 30%? | 10/17/2025 |
| Title | |
|---|---|
| ARTICLES |
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Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 39.05 |
| Mkt Cap | 1.2 |
| Rev LTM | 907 |
| Op Inc LTM | 11 |
| FCF LTM | 35 |
| FCF 3Y Avg | 57 |
| CFO LTM | 133 |
| CFO 3Y Avg | 85 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 7.9% |
| Rev Chg 3Y Avg | -3.7% |
| Rev Chg Q | 14.9% |
| QoQ Delta Rev Chg LTM | 3.4% |
| Op Inc Chg LTM | -14.8% |
| Op Inc Chg 3Y Avg | 34.8% |
| Op Mgn LTM | 2.7% |
| Op Mgn 3Y Avg | 4.4% |
| QoQ Delta Op Mgn LTM | 0.1% |
| CFO/Rev LTM | 12.7% |
| CFO/Rev 3Y Avg | 11.2% |
| FCF/Rev LTM | 8.0% |
| FCF/Rev 3Y Avg | 6.9% |
Segment Financials
Revenue by Segment| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Software Services | 8 | 5 | 21 | 26 | 12 |
| Managed Services and Support | 5 | 7 | 10 | 15 | 19 |
| Platform Services | 0 | 0 | 2 | 5 | 4 |
| Total | 14 | 12 | 33 | 46 | 35 |
| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Managed Services and Support | 0 | -2 | 3 | 4 | 5 |
| Software Services | -0 | -2 | -3 | -1 | 2 |
| Depreciation and amortization | -1 | ||||
| Platform Services | -9 | -1 | -0 | -4 | -3 |
| Unallocated costs | -7 | -9 | -9 | ||
| Total | -10 | -5 | -8 | -10 | -5 |
| $ Mil | 2025 |
|---|---|
| Managed Services and Support | 0 |
| Software Services | -1 |
| Platform Services | -9 |
| Total | -9 |
Price Behavior
| Market Price | $2.19 | |
| Market Cap ($ Bil) | 0.0 | |
| First Trading Date | 10/13/2021 | |
| Distance from 52W High | -99.8% | |
| 50 Days | 200 Days | |
| DMA Price | $2.34 | $63.64 |
| DMA Trend | down | down |
| Distance from DMA | -6.4% | -96.6% |
| 3M | 1YR | |
| Volatility | 69.7% | 183.6% |
| Downside Capture | 282.90 | 884.69 |
| Upside Capture | 90.84 | 55.17 |
| Correlation (SPY) | 36.1% | 18.2% |
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 3.22 | 1.64 | 1.82 | 1.70 | 3.87 | 1.38 |
| Up Beta | 5.51 | 0.84 | 0.38 | -1.08 | -3.79 | -0.92 |
| Down Beta | 5.27 | 4.92 | 3.61 | 2.80 | 4.08 | 1.31 |
| Up Capture | 231% | 68% | 50% | -133% | 473% | -2% |
| Bmk +ve Days | 13 | 28 | 36 | 67 | 141 | 432 |
| Stock +ve Days | 10 | 18 | 25 | 37 | 86 | 299 |
| Down Capture | 165% | 365% | 294% | 339% | 225% | 114% |
| Bmk -ve Days | 7 | 13 | 27 | 57 | 109 | 318 |
| Stock -ve Days | 8 | 20 | 35 | 84 | 157 | 436 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with HCTI | |
|---|---|---|---|---|
| HCTI | -99.3% | 184.7% | -1.91 | - |
| Sector ETF (XLV) | 14.0% | 15.0% | 0.66 | 14.9% |
| Equity (SPY) | 26.5% | 12.4% | 1.61 | 18.7% |
| Gold (GLD) | 24.2% | 27.5% | 0.77 | 2.6% |
| Commodities (DBC) | 19.8% | 18.8% | 0.83 | -2.9% |
| Real Estate (VNQ) | 11.0% | 13.7% | 0.52 | 8.8% |
| Bitcoin (BTCUSD) | -40.0% | 42.5% | -1.08 | 4.7% |
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Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with HCTI | |
|---|---|---|---|---|
| HCTI | -91.7% | 216.2% | -0.33 | - |
| Sector ETF (XLV) | 5.4% | 14.7% | 0.19 | 2.4% |
| Equity (SPY) | 13.5% | 17.1% | 0.62 | 9.5% |
| Gold (GLD) | 17.1% | 18.3% | 0.76 | -0.5% |
| Commodities (DBC) | 7.5% | 19.4% | 0.29 | -1.6% |
| Real Estate (VNQ) | 1.9% | 18.9% | 0.00 | 4.1% |
| Bitcoin (BTCUSD) | 11.0% | 54.2% | 0.40 | 5.6% |
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Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with HCTI | |
|---|---|---|---|---|
| HCTI | -71.1% | 216.2% | -0.33 | - |
| Sector ETF (XLV) | 9.4% | 16.6% | 0.46 | 2.4% |
| Equity (SPY) | 15.3% | 18.0% | 0.73 | 9.5% |
| Gold (GLD) | 12.3% | 16.1% | 0.63 | -0.5% |
| Commodities (DBC) | 5.9% | 18.0% | 0.26 | -1.6% |
| Real Estate (VNQ) | 5.3% | 20.7% | 0.22 | 4.1% |
| Bitcoin (BTCUSD) | 60.0% | 66.8% | 1.00 | 5.6% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Returns Analyses
Earnings Returns History
Updated 6/3/2026| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| SUMMARY STATS | |||
| # Positive | 0 | 0 | 0 |
| # Negative | 0 | 0 | 0 |
| Median Positive | |||
| Median Negative | |||
| Max Positive | |||
| Max Negative | |||
| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| SUMMARY STATS | |||
| # Positive | 0 | 0 | 0 |
| # Negative | 0 | 0 | 0 |
| Median Positive | |||
| Median Negative | |||
| Max Positive | |||
| Max Negative | |||
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 03/31/2026 | 05/14/2026 | 10-Q |
| 12/31/2025 | 04/15/2026 | 10-K |
| 09/30/2025 | 11/13/2025 | 10-Q |
| 06/30/2025 | 08/14/2025 | 10-Q |
| 03/31/2025 | 05/20/2025 | 10-Q |
| 12/31/2024 | 03/31/2025 | 10-K |
| 09/30/2024 | 11/14/2024 | 10-Q |
| 06/30/2024 | 08/19/2024 | 10-Q |
| 03/31/2024 | 05/20/2024 | 10-Q |
| 12/31/2023 | 03/18/2024 | 10-K |
| 09/30/2023 | 11/13/2023 | 10-Q |
| 06/30/2023 | 08/10/2023 | 10-Q |
| 03/31/2023 | 05/09/2023 | 10-Q |
| 12/31/2022 | 03/28/2023 | 10-K |
| 09/30/2022 | 11/10/2022 | 10-Q |
| 06/30/2022 | 08/08/2022 | 10-Q |
| Report Date | Filing Date | Filing |
|---|---|---|
| 03/31/2026 | 05/14/2026 | 10-Q |
| 12/31/2025 | 04/15/2026 | 10-K |
| 09/30/2025 | 11/13/2025 | 10-Q |
| 06/30/2025 | 08/14/2025 | 10-Q |
| 03/31/2025 | 05/20/2025 | 10-Q |
| 12/31/2024 | 03/31/2025 | 10-K |
| 09/30/2024 | 11/14/2024 | 10-Q |
| 06/30/2024 | 08/19/2024 | 10-Q |
| 03/31/2024 | 05/20/2024 | 10-Q |
| 12/31/2023 | 03/18/2024 | 10-K |
| 09/30/2023 | 11/13/2023 | 10-Q |
| 06/30/2023 | 08/10/2023 | 10-Q |
| 03/31/2023 | 05/09/2023 | 10-Q |
| 12/31/2022 | 03/28/2023 | 10-K |
| 09/30/2022 | 11/10/2022 | 10-Q |
| 06/30/2022 | 08/08/2022 | 10-Q |
| 03/31/2022 | 05/16/2022 | 10-Q |
| 12/31/2021 | 03/08/2022 | 10-K |
| 09/30/2021 | 11/23/2021 | 10-Q |
| 06/30/2021 | 10/14/2021 | 424B4 |
Industry Resources
| Health Care Resources |
| U.S. National Library of Medicine |
| ClinicalTrials.gov |
| Modern Healthcare |
| Healthcare Dive |
| Fierce Healthcare |
| Health Affairs |
| Health Data Management |
| FDA Tracker |
| Health Care Technology Resources |
| Healthcare IT News |
| MobiHealthNews |
| HealthTech Magazine |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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