Healthcare Triangle, Inc.
For the period ended Jun 30, 2026. Filed Aug 13, 2026.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Jun 30, 2026 · Filed Aug 13, 2026
HCTI$3.70+3.1%Stored close · as of Nov 6, 2026
What changed in Management’s Discussion and Analysis?
Read the current filingPrevious report: 10-Q
Period ended 2026-03-31; filed 2026-05-14.
0001213900-26-056096
Item 2. Management’s Discussion and Analysis of Financial Condition and Results of OperationsCurrent report: 10-Q
Period ended 2026-06-30; filed 2026-08-13.
0001213900-26-089241
Item 2. Management’s Discussion and Analysis of Financial Condition and Results of OperationsThe baseline is this issuer’s latest earlier reporting period of the same form that was filed before the current report. A previous 10-Q is a different quarter, not a year-over-year comparison. Amendments are excluded.
Compared 138 previous paragraphs and 142 current paragraphs.
100 unchanged; 30 reworded; 11 added; 8 removed; 0 previous and 1 current paragraphs rearranged.
Tables are not compared: 27 previous and 27 current tables excluded. Dates, whitespace, punctuation and numbering changes are ignored; changes to financial figures remain significant.
A changed paragraph is not evidence that risk increased or decreased. An unchanged paragraph does not establish that risk stayed the same.
Added paragraphs (11)
Current report
The Company recognizes revenue from Customer Engagement Services in accordance with ASC 606,Revenue from Contracts with Customers. Revenue is recognized when or as the Company satisfies its performance obligations by transferring the promised services to the customer in an amount that reflects the consideration to which the Company expects to be entitled in exchange for those services.
Current report
Under these arrangements, the Company generally performs the customer-engagement services using its own personnel, processes, systems and operational infrastructure and is primarily responsible for fulfilling the promised services in accordance with contractual requirements and applicable quality standards. The Company has determined that it controls the specified services before they are transferred to the customer and, accordingly, acts as the principal in these arrangements and recognizes revenue on a gross basis.
Current report
Consideration under Customer Engagement Services arrangements is generally based on either a fee for each completed and validated outcome or an agreed hourly rate for services provided.
Current report
For success-based arrangements, revenue is recognized at a point in time when the applicable contractual outcome has been completed and validated by the customer in accordance with contractual terms. To the extent such consideration is variable, revenue is recognized only to the extent that it is probable that a significant reversal of cumulative revenue recognized will not occur.
Current report
For hourly service arrangements, revenue is recognized over time as the services are performed because the customer simultaneously receives and consumes the benefits of the Company’s performance. Revenue is measured based on the contracted hourly rate and the actual hours of service provided during the applicable reporting period.
Current report
Revenue is presented net of estimated cancellations, penalties and other adjustments to the extent such amounts represent adjustments to the transaction price under the applicable customer contracts.
Current report
The Customer Engagement Services segment generated $1.64 million in segment gross profit at a gross margin of approximately 26%, above the Company’s historical margin profile and consistent with the segment’s performance in the first quarter. The continued strength of this segment was the single largest driver of the Company’s overall gross margin expansion, to 22% in the quarter ended June 30, 2026, from 14% in the quarter ended June 30, 2025.
Current report
Sales and Marketing expenses increased by $0.1 million, or 17% to $0.7 million for the quarter ended June 30, 2026, as compared to $0.6 million for the quarter ended June 30, 2025.
Current report
General and Administrative expenses increased by $3.6 million, or 308% to $4.8 million for the quarter ended June 30, 2026, as compared to $1.2 million for the quarter ended June 30, 2025.
Current report
Interest expenses increased by $0.07 million, or 324% to $0.09 million for the quarter ended June 30, 2026, as compared to $0.02 million for the quarter ended June 30, 2025.
Current report
On June 24, 2026, the Company entered into a Securities Exchange Agreement with SecureKloud pursuant to which certain preferred equity securities held by SecureKloud were exchanged for shares of the Company’s common stock following receipt of stockholder approval subsequent to June 30, 2026. As part of the consideration under the Securities Exchange Agreement, advance amounting to $626 due from SecureKloud was included in the transaction. Accordingly, the Company recorded a full provision against the advance of $626 during the six months ended June 30, 2026. See also Note 17, Subsequent Events.
Removed paragraphs (8)
Previous report
Under these arrangements, the company typically acts as an intermediary or service provider, identifying and contacting potential customers or insureds, explaining product features, collecting and submitting applications or leads, and performing related administrative tasks and customer-care activities in accordance with the instructions, scripts and quality standards agreed with each customer. Consideration may be in the form of commissions based on
Previous report
approved and issued banking or credit products or concluded or renewed insurance policies, or service fees based on time-and-effort, unit-based pricing, fixed price per completed output, or milestone-based pricing, as specified in the contract.
Previous report
Commission revenue is recognized when the company’s services under the relevant transaction have been performed and the specified approval, issuance, conclusion or renewal conditions have been met under the contract. Revenue from time-based or unit-based services is recognized as the underlying services are performed and the corresponding measurable outputs are delivered in accordance with the contract. Revenue under fixed-price or milestone-based arrangements is recognized over me as the related services are performed and contractual milestones are achieved.
Previous report
(*) acquired as part of business combination during the period ended March 31, 2026.
Previous report
Sales and Marketing expenses increased by $1.41 million, or 377% to $1.78 million for the quarter ended March 31, 2026, as compared to $0.37 million for the quarter ended March 31, 2025.
Previous report
General and Administrative expenses increased by $2.02 million, or 169% to $3.22 million for the quarter ended March 31, 2026, as compared to $1.20 million for the quarter ended March 31, 2025.
Previous report
Interest expenses decreased by $0.33 million, or 79% to $0.09 million for the quarter ended March 31, 2026, as compared to $0.41 million for the quarter ended March 31, 2025.
Previous report
(*) Acquired as part of business combination during the period ended March 31, 2026.
Reworded paragraphs (30)
Previous wording
The following discussion summarizes the significant factors affecting the operating results, financial condition, liquidity, and cash flows of our Company as of and for the periods presented below. The following discussion and analysis should be read in conjunction with the condensed consolidated financial statements and the related notes thereto, and the consolidated financial statements and the related notes thereto all included elsewhere in this Quarterly Report on Form 10-Q. The statements in this discussion regarding industry outlook, our expectations regarding our future performance, liquidity, and capital resources, and all other non-historical statements in this discussion are forward-looking statements and are based on the beliefs of our management, as well as assumptions made by, and information currently available to, our management. Actual results could differ materially from those discussed in or implied by forward looking statements as a result of various factors, including those discussed below and elsewhere in this report, and in the sections entitled “Note Regarding Forward-Looking Statements” and “Risk Factors” contained in this Quarterly Report on Form 10-Q and in the Company’s Annual Report on Form 10-K filed with the Securities and Exchange Commission (“SEC”)
Current wording
The following discussion summarizes the significant factors affecting the operating results, financial condition, liquidity, and cash flows of our Company as of and for the periods presented below. The following discussion and analysis should be read in conjunction with the condensed consolidated financial statements and the related notes thereto, and the consolidated financial statements and the related notes thereto all included elsewhere in this Quarterly Report on Form 10-Q. The statements in this discussion regarding industry outlook, our expectations regarding our future performance, liquidity, and capital resources, and all other non-historical statements in this discussion are forward-looking statements and are based on the beliefs of our management, as well as assumptions made by, and information currently available to, our management. Actual results could differ materially from those discussed in or implied by forward-looking statements as a result of various factors, including those discussed below and elsewhere in this report, and in the sections entitled “Note About Forward-Looking Statements” and “Risk Factors” contained in this Quarterly Report on Form 10-Q and in the Company’s Annual Report on Form 10-K filed with the Securities and Exchange Commission (“SEC”).
Previous wording
The Company was formed on October 29, 2019, as a Nevada corporation and then converted into a Delaware corporation on April 24, 2020, to provide IT and data services to the Healthcare and Life Sciences (“HCLS”) industry. The business commenced on January 1, 2020, after SecureKloud Technologies Inc, transferred its Life Sciences business to us. As of March 31, 2026, we had a total of 41 full time employees and 32 sub-contractors, including 36 certified cloud engineers, 25 Epic Certified EHR experts, 9 MEDITECH Certified EHR experts and 3 Admin sub-contractors. Many of the senior management team and the members of our board of directors hold advanced degrees and some are leading experts in the field of technology, investment banking and public markets.
Current wording
The Company was formed on October 29, 2019, as a Nevada corporation and converted into a Delaware corporation on April 24, 2020, to provide IT and data services to the Healthcare and Life Sciences (“HCLS”) industry. The business commenced on January 1, 2020, after SecureKloud Technologies Inc. transferred its Life Sciences business to us. As of June 30, 2026, we had a total of 40 full time employees and 27 sub-contractors, including 32 certified cloud engineers, 22 Epic Certified EHR experts, 9 MEDITECH Certified EHR experts and 4 Admin sub-contractors. Many of the senior management team and the members of our board of directors hold advanced degrees and some are leading experts in the field of technology, investment banking and public markets.
Previous wording
The majority of our revenue is generated by our full-time employees who provide Software Services and Managed Services and Support to our clients in the Healthcare and Life Sciences industry. Our Software Services include strategic advisory, implementation and development services, and Managed Services and Support include post implementation support and cloud hosting.
Current wording
The majority of our revenue is generated by the AI powered Customer Engagement segment following the Company’s acquisition of Teyame 360 S.L. (“Teyame”) and Datono Mediacion S.L. (“Datono”) effective January 1, 2026, followed by the revenue earned through our full time employees who provide Software Services and Managed Services and Support to our clients in the Healthcare and Life Sciences industry. Our Software Services include strategic advisory, implementation and development services, and Managed Services and Support include post implementation support and cloud hosting.
Previous wording
On June 16, 2025 (the “Closing date”), Healthcare Triangle, Inc. through its wholly owned subsidiary Quantum Nexus Inc. (the “Company”) and Niyama Healthcare, Inc., a Delaware corporation, a provider of Mental Health and Hospital Information Systems technology, across India, South East Asia, and Europe (the “Seller”) entered into an Asset and Stock Transfer Agreement (the “Agreement”). Pursuant to the Agreement, the Company agreed to purchase from the Seller the Transferred Assets (comprising of contracts, intellectual property and related assets), and (ii) the Seller’s 100% shareholder equity interest in Ezovion Solutions Private Limited, Chennai, India - Hospital Information Systems SaaS Provider as Seller’s Equity (the “Transferred Equity”), as a whole and as a going concern in exchange for the Purchase Price (as defined below).
Current wording
On June 16, 2025 (the “Closing date”), Healthcare Triangle, Inc. through its wholly owned subsidiary Quantum Nexus Inc. (the “Company”) and Niyama Healthcare, Inc., a Delaware corporation, a provider of Mental Health and Hospital Information Systems technology, across India, Southeast Asia, and Europe (the “Seller”) entered into an Asset and Stock Transfer Agreement (the “Agreement”). Pursuant to the Agreement, the Company agreed to purchase from the Seller the Transferred Assets (comprising of contracts, intellectual property and related assets), and (ii) the Seller’s 100% shareholder equity interest in Ezovion Solutions Private Limited, Chennai, India - Hospital Information Systems SaaS Provider as Seller’s Equity (the “Transferred Equity”), as a whole and as a going concern in exchange for the Purchase Price (as defined below).
Previous wording
The cash consideration includes: (i) $3,000 paid during 2025 pursuant to an advance agreement dated December 3, 2025, (ii) $6,000 paid during January, 2026 (iii) $3,200 paid on April 20, 2026, and (iv) $2,800 payable on the earlier of the conditions being met as outlined in the Share Purchase Agreement, or six months from the date of the Share Purchase Agreement (but in no event prior to April 29, 2026).
Current wording
The cash consideration includes: (i) $3,000 paid during 2025 pursuant to an advance agreement dated December 3, 2025, (ii) $6,000 paid during January, 2026, (iii) $3,200 paid during April, 2026, and (iv) $2,800 payable on the earlier of the conditions being met as outlined in the Share Purchase Agreement, or six months from the date of the Share Purchase Agreement (but in no event prior to April 29, 2026).
Previous wording
This combined customer relationships may increase enterprise engagements and enhance our data, analytics and automation offerings. Healthcare organizations increasingly prefer integrated technology partners capable of delivering end-to-end digital transformation solutions, and the acquisition may strengthen HCTI’s ability to provide such comprehensive offerings.
Current wording
These combined customer relationships may increase enterprise engagements and enhance our data, analytics and automation offerings. Healthcare organizations increasingly prefer integrated technology partners capable of delivering end-to-end digital transformation solutions, and the acquisition may strengthen HCTI’s ability to provide such comprehensive offerings.
Previous wording
The acquisition of Teyame is expected to accelerate the pace of innovation and strengthen HCTI’s strategic positioning within the rapidly growing healthcare artificial intelligence market. Through the acquisition, HCTI intends to expand its scalable AI-driven capabilities and enhance its portfolio of solutions focused on clinical workflow optimization, patient engagement, operational efficiency, predictive analytics, and intelligent automation.
Current wording
The acquisition of Teyame is expected to accelerate the pace of innovation and strengthen HCTI’s strategic position within the rapidly growing healthcare artificial intelligence market. Through the acquisition, HCTI intends to expand its scalable AI-driven capabilities and enhance its portfolio of solutions focused on clinical workflow optimization, patient engagement, operational efficiency, predictive analytics, and intelligent automation.
Previous wording
During the quarter ended March 31, 2026 and 2025, the Company generated revenues of approximately $9.85 million compared to revenue of $3.70 million respectively which represents an increase of $6.15 million or 166% compared to the previous year comparative quarter.
Current wording
During the quarter ended June 30, 2026 and 2025, the Company generated revenues of approximately $9.19 million compared to revenue of $3.56 million respectively which represents an increase of $5.63 million or 158% compared to the previous year comparative quarter.
Previous wording
The Customer Engagement Services segment includes services rendered to financial institutions in connection with the promotion and distribution of banking and credit products; services provided as an external collaborator to insurance intermediaries in the distribution of insurance products; outbound and inbound telemarketing; customer acquisition campaigns; appointment setting; customer service and satisfaction surveys; and technology-enabled digital marketing and customer-interaction services that support customers’ digital customer-acquisition and customer-care strategies.
Current wording
The Customer Engagement Services segment, acquired through business combination (see note 6), provides customer search, marketing, telemarketing and customer-support services to financial institutions, insurance companies and intermediaries, and other customers. These services include the promotion and distribution of banking, credit and insurance products; outbound and inbound telemarketing; lead generation and customer-search campaigns; appointment setting; customer service and satisfaction surveys; and technology-enabled digital marketing and customer-interaction services supporting customers’ digital search and customer-care strategies.
Previous wording
In the current period, the gross margin generated by the Company has increased to 24% in the quarter ended March 31, 2026, as compared to 9% in the quarter ended March 31, 2025, respectively. Going forward, we expect the gross margin to continue to increase, as new contracts are being negotiated at higher margins and as a result, we expect future profit margins to increase materially over the next few quarters.
Current wording
Going forward, we expect the gross margin to continue to increase, as new contracts are being negotiated at higher margins and as a result, we expect future profit margins to increase materially over the next few quarters.
Previous wording
Revenue increased by $6.15 million, or 166% to $9.86 million for the quarter ended March 31, 2026, as compared to $3.70 million for the quarter ended March 31, 2025. Revenue from Software Services, Managed Services and Support, Insurance Mediation, Direct Marketing and Corporate and Others revenue have increased in the current quarter.
Current wording
Revenue increased by $5.6 million, or 158% to $9.2 million for the quarter ended June 30, 2026, as compared to $3.6 million for the quarter ended June 30, 2025. Revenue from Customer Engagement Services, and Corporate and Others increased in the current quarter, while revenue from Software Services and Managed Services and Support decreased.
Previous wording
Our top 5 customers accounted for 49% of the revenue in quarter ended March 31, 2026, and 56% during quarter ended March 31, 2025, respectively.
Current wording
Our top 5 customers accounted for 55% of the revenue in quarter ended June 30, 2026, and 58% during quarter ended June 30, 2025, respectively.
Previous wording
Total revenue from Customer 1 increased by $1.38 million, or 184% to $2.14 million for the quarter ended March 31, 2026, as compared to $0.75 million for the quarter ended March 31, 2025. Software Services revenue decreased by $0.72 million or 100% to nil for the quarter ended March 31, 2026, as compared to $0.72 million for the quarter ended March 31, 2025. Customer engagement services revenue increased by $2.14 million, or 100% to $2.14 million for the quarter ended March 31, 2026, as compared to nil for the quarter ended March 31, 2025. Managed Services and Support revenue decreased by $0.03 million, or 100% to nil for the quarter ended March 31, 2026, as compared to $0.03 million for the quarter ended March 31, 2025.
Current wording
Total revenue from Customer 1 increased by $1.67 million, or 236% to $2.38 million for the quarter ended June 30, 2026, as compared to $0.71 million for the quarter ended June 30, 2025. Software Services revenue decreased by $0.70 million or 100% to nil for the quarter ended June 30, 2026, as compared to $0.70 million for the quarter ended June 30, 2025. Customer engagement services revenue increased by $2.38 million, or 100% to $2.38 million for the quarter ended June 30, 2026, as compared to nil for the quarter ended June 30, 2025. Managed Services and Support revenue decreased by $0.005 million, or 100% to nil for the quarter ended June 30, 2026, as compared to $0.005 million for the quarter ended June 30, 2025.
Previous wording
Cost of revenue, excluding depreciation and amortization, increased by $4.09 million, or 121%, to $7.46 million for the quarter ended March 31, 2026, as compared to $3.38 million for the quarter ended March 31, 2025.
Current wording
Cost of revenue, excluding depreciation and amortization, increased by $4.1 million, or 133%, to $7.1 million for the quarter ended June 30, 2026, as compared to $3.1 million for the quarter ended June 30, 2025.
Previous wording
Research and Development expenses decreased by $0.06 million, or 41% to $0.09 million for the quarter ended March 31, 2026, as compared to $0.14 million for the quarter ended March 31, 2025.
Current wording
Research and Development expenses decreased by 7% to $0.05 million for the quarter ended June 30, 2026, as compared to $0.05 million for the quarter ended June 30, 2025.
Previous wording
Sales and Marketing expenses for the quarters ended March 31, 2026, and 2025, were 1,779 and 373, of which advertisement expenses were $1,548 and $58 respectively.
Current wording
Sales and Marketing expenses for the quarters ended June 30, 2026, and 2025, were $720 and $616, of which advertisement expenses were $495 and $236 respectively.
Previous wording
Depreciation and Amortization expenses increased by $0.80 million, or 6650% to $0.81 million for the quarter ended March 31, 2026, as compared to $0.01 million for the quarter ended March 31, 2025.
Current wording
Depreciation and Amortization expenses increased by $0.5 million, or 100% to $0.5 million for the quarter ended June 30, 2026, as compared to nil for the quarter ended June 30, 2025.
Previous wording
Other income decreased by $0.10 million, or 93% to $0.01 million for the quarter ended March 31, 2026, as compared to 0.11 million for the quarter ended March 31, 2025.
Current wording
Other income increased by $0.43 million, or 3,269% to $0.44 million for the quarter ended June 30, 2026, as compared to $0.01 million for the quarter ended June 30, 2025.
Previous wording
Changes in fair value increased by $2.44 million to $2.44 million for the quarter ended March 31, 2026, as compared to $0 for the quarter ended March 31, 2025.
Current wording
Changes in fair value increased by $0.7 million, or 100% to $0.7 million for the quarter ended June 30, 2026, as compared to nil for the quarter ended June 30, 2025.
Previous wording
Forex loss increased by $0.06 million to $0.06 million for the quarter ended March 31, 2026, as compared to $0 for the year quarter ended March 31, 2025.
Current wording
Forex loss increased by $0.01 million, or 100% to $0.01 million for the quarter ended June 30, 2026, as compared to nil for the quarter ended June 30, 2025.
Previous wording
We manage and report our business under two operating segments which are Software services and Managed services and support.
Current wording
We manage and report our business under four operating segments which are Software Services, Managed Services and Support, Customer Engagement Services, and Corporate and Others.
Previous wording
Revenue from Software services decreased by $0.02 million, or 1% to $1.63 million for the quarter ended March 31, 2026, as compared to $1.65 million for the quarter ended March 31, 2025. Revenue from Managed services and support decreased by $0.70 million, or 35% to $1.28 million for the quarter ended March 31, 2026, as compared to $1.98 million for the quarter ended March 31, 2025. Revenue from Customer engagement services increased by $6.87 million, or 100% to $6.87 million for the quarter ended March 31, 2026, as compared to nil for the quarter ended March 31, 2025.
Current wording
Revenue from Software services decreased by $0.6 million, or 28% to $1.55 million for the quarter ended June 30, 2026, as compared to $2.14 million for the quarter ended June 30, 2025. Revenue from Managed services and support decreased by $0.07 million, or 6% to $1.27 million for the quarter ended June 30, 2026, as compared to $1.34 million for the quarter ended June 30, 2025. Revenue from Customer engagement services increased by 100% to $6.31 million for the quarter ended June 30, 2026, as compared to nil for the quarter ended June 30, 2025. Revenue from Corporate and others increased by 3% to $0.07 million for the quarter ended June 30, 2026, as compared to $0.07 million for the quarter ended June 30, 2025.
Previous wording
Cost of revenue from Software services decreased by $0.16 million, or 10% to $1.38 million for the quarter ended March 31, 2026, as compared to $1.54 million for the quarter ended March 31, 2025. Cost of revenue from Managed Services and Support decreased by $0.81 million, or 44% to $1.02 million for the quarter ended March 31, 2026, as compared to $1.82 million for the quarter ended March 31, 2025. Cost of revenue from Customer engagement services increased by $4.80 million, or 100% to $4.85 million for the quarter ended March 31, 2026, as compared to nil for the quarter ended March 31, 2025. Cost of revenue from corporate and others increased by $0.20 million, or 2,256% to $0.21 million for the quarter ended March 31, 2026, as compared to $0.09 million for the quarter ended March 31, 2025.
Current wording
Cost of revenue from Software services decreased by $0.52 million, or 29% to $1.25 million for the quarter ended June 30, 2026, as compared to $1.78 million for the quarter ended June 30, 2025. Cost of revenue from Managed Services and Support decreased by $0.06 million, or 6% to $0.99 million for the quarter ended June 30, 2026, as compared to $1.06 million for the quarter ended June 30, 2025. Cost of revenue from Customer engagement services increased by $4.67 million, or 100% for the quarter ended June 30, 2026, as compared to nil for the quarter ended June 30, 2025. Cost of revenue from corporate and others decreased by $0.02 million, or 8% to $0.21 million for the quarter ended June 30, 2026, as compared to $0.23 million for the quarter ended June 30, 2025.
Previous wording
The balance outstanding from SecureKloud Technologies Limited as of March 31, 2026, and December 31, 2025, is $3,826. The balance is unsecured, non-interest bearing and is expected to be settled in the ordinary course of business, as outlined below:
Current wording
As of June 30, 2026, and December 31, 2025, the balances outstanding are $3,260, and $3,826 respectively. The balances are unsecured, non-interest bearing and are expected to be settled in the ordinary course of business, as outlined below:
Previous wording
The current ratio measures a company’s ability to pay off its current liabilities (payable within one year) with its total current assets such as cash, accounts receivable, and inventories. The Company’s current ratio, as at March 31, 2026 is 0.90 compared to 1.33 as at December 31, 2025.
Current wording
The current ratio measures a company’s ability to pay off its current liabilities (payable within one year) with its total current assets such as cash, accounts receivable, and inventories. The Company’s current ratio, as at June 30, 2026 is 0.6 compared to 1.03 as at December 31, 2025.
Previous wording
The Company’s current debt equity ratio, as at March 31, 2026 financial statement is 0.21, compared to 1.08 as at December 31, 2025.
Current wording
The Company’s current debt equity ratio, as at June 30, 2026 financial statement is 0.27, compared to 1.08 as at December 31, 2025.
Previous wording
As of March 31, 2026, our principal sources of liquidity consisted of cash and cash equivalents of $4.31 million. We have financed our operations primarily through financing activity and operating cash flows. We believe our existing cash and cash equivalents generated from operations and financing activities will be sufficient to meet our working capital over the next 12 months. Our future capital requirements will depend on many factors including our growth rate, subscription renewal activity, the expansion of sales and marketing activities and the ongoing investments in platform development.
Current wording
As of June 30, 2026, our principal sources of liquidity consisted of cash and cash equivalents of $1.91 million. We have financed our operations primarily through financing activity and operating cash flows. We believe our existing cash and cash equivalents generated from operations and financing activities will be sufficient to meet our working capital over the next 12 months. Our future capital requirements will depend on many factors including our growth rate, subscription renewal activity, the expansion of sales and marketing activities and the ongoing investments in platform development.
Previous wording
Net cash used in operating activities during the three months ended March 31, 2026, was $(6.86) million compared to $(5.56) million for the three months ended March 31, 2025.
Current wording
Net cash used in operating activities during the six months ended June 30, 2026, was $(7.70) million compared to $(8.19) million for the six months ended June 30, 2025.
Previous wording
Net cash used in investing activities was $(6.02) million for the three months ended March 31, 2026, compared to nil for the three months ended March 31, 2025.
Current wording
Net cash used in investing activities was $(9.20) million for the six months ended June 30, 2026, compared to $(0.6) million for the six months ended June 30, 2025.
Previous wording
Cash inflow from financing activities was $9.48 million for the three months ended March 31, 2026, compared to a net inflow of $12.36 million for the three months ended March 31, 2025.
Current wording
Cash inflow from financing activities was $11.19 million for the six months ended June 30, 2026, compared to a net inflow of $12 million for the six months ended June 30, 2025.
Rearranged current paragraphs (1)
Current report — wording carried from elsewhere
The gross margin generated by the Company has increased to 22% in the quarter ended June 30, 2026, as compared to 14% in the quarter ended June 30, 2025, respectively.