Company: SYRA
Filing Date: 2025-11-12
Form Type: 10-Q
Source: 0001493152-25-022023
Chunk: 13

Company: Syra Health Corp
Filing Date: 2025-11-12
Form: 10-Q
Item: Item 1
Chunk 13
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3) determine
the transaction price; (4) allocate the transaction price to performance obligations in the contract; and (5) recognize revenue when
or as the Company satisfies a performance obligation.

The
Company accounts for revenues when both parties to the contract have approved the contract, the rights and obligations of the parties
are identified, payment terms are identified, and collectability of consideration is probable. Payment terms vary by client and the services
offered.

The
Company has the following main forms of revenue:

    –
    Healthcare
    Workforce

    –
    Population
    Health

    –
    Behavioral
    and Mental Health Services

The
Company primarily provides its services to state health and social service agencies and universities. Healthcare Workforce, Behavioral
Mental Health Service contracts are primarily accounted for as a single performance obligation satisfied over time because the customer
simultaneously receives and consumes the benefits of our medical staffing on an hourly or daily basis. Population Health contracts generally
consist of multiple performance obligations that are distinct, such as to provide data analytics and reporting, training, or develop
technology for implementation and maintenance with the customer. The Company allocates the transaction price across the performance obligations
based on the estimated fair value of the distinct performance obligations. Depending on the performance obligation, revenue is recognized
at a point in time when the customer obtains the benefit of the services are provide, or over time in the case of digital health revenue
where the customer simultaneously receives and consumes benefits of the contract, such as ongoing performance of our technology product.
As of September 30, 2025 and December 31, 2024, the Company had remaining performance obligations of $141,611 and $16,611, primarily
related to the Company’s Population Health revenue, that are expected to be satisfied within the next three months, included in
Deferred Revenue on the Company’s balance sheets.

The
contracts generally stipulate bi-weekly or monthly billing, and the Company has elected the “ as invoiced” practical
expedient to recognize revenue based on the hours incurred at the contractual rate as the Company has the right to payment in an
amount that corresponds directly with the value of performance completed to date. The Company may also be subject to
penalties for violations of certain ethical standards and non-performance measures within these state contracts. The Company
recognizes revenue net of penalties.

    F-8

Disaggregated
revenue data

The
Company’s revenue consists of the following revenue services