Company: SYRA
Filing Date: 2025-03-11
Form Type: 10-K
Source: 0001493152-25-009873
Chunk: 505

Company: Syra Health Corp
Filing Date: 2025-03-11
Form: 10-K
Item: Item 3
Chunk 505
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 positions us to work on federal government healthcare and related projects from several
agencies such as the United States Department of Health and Human Services, the Centers for Disease Control and Prevention, the National
Institutes of Health, the National Aeronautics and Space Administration and the United States Department of Defence.

Results
of Operations for the Years Ended December 31, 2024, and 2023

The
following table summarizes selected items from the statements of operations for the years ended December 31, 2024, and 2023.

    For the Year  
    For the Year  

    Ended  
    Ended  

    December 31,  
    December 31,  
    Increase / 

    2024  
    2023  
    (Decrease) 

    Net revenues 

    Healthcare workforce 
    $5,896,433  
    $4,259,292  
    $1,637,141 
  
    Population health management 
     1,659,804  
     715,499  
     944,305 
  
    Digital health services 
     369,000  
     515,250  
     (146,250)
  
    Behavioral and mental health 
     16,845  
     12,797  
     4,048 
  
    Health education 
     40,000  
     12,306  
     27,694 
  
    Net revenues 
     7,982,082  
     5,515,144  
     2,466,938 
  
    Cost of services 
     6,329,119  
     4,103,244  
     2,225,875 
  
    Gross profit 
     1,652,963  
     1,411,900  
     241,063 

    Operating expenses: 

    Salaries and benefits 
     2,718,743  
     2,292,295  
     426,448 
  
    Professional services 
     606,051  
     586,463  
     19,588 
  
    Research and development expenses 
     585,146  
     240,048  
     345,098 
  
    Selling, general and administrative expenses 
     1,445,170