Healthcare Triangle Q3 2025 Earnings Review: Revenue Up 45%, EPS Miss Due to Higher Expenses and Lower Revenues

Healthcare Triangle (HCTI) reported Q3 2025 earnings with revenue of $3.5 million, up 45% YoY, but missed EPS estimates due to lower revenues and higher operating expenses. The company's gross margin increased to 17.7%, and net loss per share was $0.43, compared to $0.22 in our estimate. HCTI has a cash balance of $1.6 million and recently received $2.6 million from the exercise of Series A warrants. Our updated model forecasts slowing net losses and EPS reaching $0.20 in 2028, driven by reaccelerating revenue growth and rising margins.