Aridhia Informatics has recorded a retained loss of more than £3.3 million in its most recent financial year.
The Edinburgh healthcare analytics firm, founded by entrepreneur David Sibbald, declined to comment on the reasons for the loss.
The abbreviated balance sheet in annual accounts filed at Companies Accounts shows its net assets were valued at close to £1.6m in 2014, down from £2.9m in the prior year.
Aridhia, founded in 2007, has received backing from the likes of Scottish Equity Partners and Albion Ventures.
Its software allows large amounts of healthcare data to be analysed in ways which can help to support treatment of patients.
Customers include NHS Scotland and it has also partnered with Craneware to start selling products in the United States.
Mr Sibbald, 55, previously built up software firm Atlantech Technologies until it was sold to Cisco for £113m in 2000.
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