Company: SYRA
Filing Date: 2025-11-12
Form Type: 10-Q
Source: 0001493152-25-022023
Chunk: 33

Company: Syra Health Corp
Filing Date: 2025-11-12
Form: 10-Q
Item: Item 1
Chunk 33
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&A
primarily consisted of marketing, rent, office, insurance, travel and repair and maintenance expenses incurred. We incurred $252,384
of SG&A expenses during the three months ended September 30, 2025, compared to $288,305 for the three months ended September 30,
2024, a decrease of $35,921, or 12%. Our SG&A expenses decreased primarily due to our efforts to reduce overhead in 2025. SG&A
included $22,369 and $33,626 of rent incurred in both periods from STVentures, LLC, an entity beneficially owned by our principal owners,
our management team and their affiliates, $26,013 and $41,699 of software expense, $115,900 and $112,248 of insurance, $4,337 and $28,639
of investor relations, and $25,071 and $19,281 of subscription and membership fees for the three months ended September 30, 2025 and
2024, respectively.

Depreciation

We
incurred $5,396 of depreciation expense for the three months ended September 30, 2025, compared to $25,541 of depreciation expense for
the three months ended September 30, 2024, a decrease of $20,145, or 79%.

Other
Income (Expense)

Other
expense, on a net basis, consisted of $1,905 of interest incurred on insurance finance charges, as partially offset by $8,174 of interest
income, for the three months ended September 30, 2025. Other income, on a net basis, consisted of $2,266 of interest incurred on insurance
finance charges, offset by $13,941 of interest income, for the three months ended September 30, 2024. Other income, on a net basis, decreased
by $5,106, or 45%, primarily due to decreased interest income compared to the prior period.

Net
Loss

Our
net loss for the three months ended September 30, 2025 was $225,902, compared to a net loss of $417,535 for the three months ended September
30, 2024, a decrease of $191,633.

6

Results
of Operations for the Nine Months Ended September 30, 2025 and 2024

The
following table summarizes selected items from the statements of operations for the nine months ended September 30, 2025 and