Healthcare Triangle reports Q3 EPS (46c) vs. (64c) last year

Reports Q3 revenue $7.8M vs. $11.9M last year. Thyagarajan Ramachandran, CFO of Healthcare Triangle, said, “A return to predictable revenue growth is top priority for the current quarter and throughout 2024. During the third quarter we launched an exciting new initiative working with U.S. health systems on an HCTI-branded ransomware protection framework and methodology. The response so far has been encouraging, and our goal is to become a top provider of robust cybersecurity services to meet the widespread accelerating demand for cyber preparedness in healthcare. Another key area of focus is on driving adoption of our high-performance readabl.ai solutions for cloud-scale, AI-driven healthcare document workflow. HCTI is in discussions with multiple life sciences companies about piloting generative AI use cases in areas such as drug discovery and documentation AI. We are also looking to expand business with our current pharma customers in 2024 with new managed services opportunities in cloud DevOps and data modernization projects. We are confident that these key revenue drivers will support improved Company performance in the coming quarters.”