Company: SYRA
Filing Date: 2025-08-12
Form Type: 10-Q
Source: 0001641172-25-023235
Chunk: 81

Company: Syra Health Corp
Filing Date: 2025-08-12
Form: 10-Q
Item: Item 2
Chunk 81
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    Selling,
    general and administrative expenses 
     289,070  
     456,572  
     (167,502)
  
    Depreciation 
     5,978  
     17,374  
     (11,396)
  
    Total
    operating expenses: 
     816,053  
     1,740,360  
     (924,307)

    Operating
    loss 
     (63,158) 
     (1,390,353) 
     1,327,195 

    Total
    other income (expense) 
     (438) 
     97  
     (535)

    Net
    loss 
    $(63,596) 
    $(1,390,256) 
    $1,326,660 

4

Net
Revenues

Net
revenue during the three months ended June 30, 2025 was comprised of $362,447 of healthcare staffing services revenue, $1,583,752 of
population health revenue, and $0 of behavioral and mental health revenue, compared to net revenue during the three months ended
June 30, 2024 comprised of $1,416,234 of healthcare staffing services revenue, $533,025 of population health revenue, and $20,422 of
behavioral and mental health revenue, an overall revenue decrease of $23,482, or 1%. The decrease in healthcare workforce revenue
was due to fewer new customer acquisitions and lower renewal value on our FSSA (NeuroDiagnostic Institute contract in January 2025,
which runs through June 2026 and has a ceiling value of approximately $1,480,000). Population health revenues increased in 2025 due
to additional services provided to state departments and other customers. We depend heavily on
state, local and county government budgets for our revenue. In 2025, the United States federal government began pausing or
terminating numerous spending programs that potentially fund those programs and institutions that are our customers. As such, we
have begun to see delays in new contract awards, or cancellations of previous requests for proposals. These factors, and the
possibility of further spending reviews and cancellations are expected to negatively affect the quantity and time of our revenue,
results of operations and cash flows in the near term.

Cost
of Services

Our
cost of services included wages and related payroll taxes, employee