Company: SYRA
Filing Date: 2025-03-11
Form Type: 10-K
Source: 0001493152-25-009873
Chunk: 253

Company: Syra Health Corp
Filing Date: 2025-03-11
Form: 10-K
Item: Item 1A
Chunk 253
---
, 2024 did
not include any adjustments that might result from the outcome of this uncertainty. The reaction of investors to the inclusion of a going
concern statement by our auditors, and our potential inability to continue as a going concern, in future years could materially adversely
affect our share price and our ability to raise new capital.

Risks
Related to Our Business and Industry

We
face significant competition, which may harm our business, results of operations or financial condition.

We
face substantial competition in the healthcare services markets. Our key competitors include, among others, healthcare consulting service
providers, healthcare payment accuracy companies and providers of other data products and data analytics solutions, including healthcare
risk adjustment, quality, economic statistics, and other data. We also compete with certain of our customers that internally provide
some of the same solutions that we offer. The increasing standardization of certain healthcare services has made it easier for companies
to enter these markets with competitive products and services. We cannot fully anticipate whether or when companies in adjacent or other
product or service areas may launch competitive products and/or services, and any such entry may lead to obsolescence of our products
and/or services or loss of market share or erosion of the prices for our solutions, or both. The extent of this competition may vary
by the size of companies, geographical coverage and scope and breadth of products and services offered. Furthermore, some of our competitors
are significantly larger and have greater financial or other resources than we do. The vigorous competition we face requires us to provide
high quality, innovative products at a competitive price. We cannot guarantee that we will be able to upgrade our existing solutions
or introduce new solutions at the same rate as our competitors, or at all, nor can we guarantee that such upgrades or new solutions will
achieve market acceptance over or among competitive offerings, or at all. Therefore, these competitive pressures could have a material
adverse impact on our business, results of operations or financial condition.

If
we are unable to retain our existing customers or attract new customers, our business, financial condition, or results of operations
could suffer.

Our
success depends substantially upon the retention of our existing customers and attracting new customers. We may not be able to retain
our existing customers or attract new customers if we are unable to provide solutions or services that our existing or prospective customers
believe enable them to achieve improved efficiencies and cost-effectiveness. Our success in retaining and attracting customers will also
depend, in part, on