Company: SYRA
Filing Date: 2025-08-12
Form Type: 10-Q
Source: 0001641172-25-023235
Chunk: 83

Company: Syra Health Corp
Filing Date: 2025-08-12
Form: 10-Q
Item: Item 2
Chunk 83
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 Expenses

SG&A
primarily consisted of marketing, rent, office, insurance, travel and repair and maintenance expenses incurred. We incurred $289,070
of SG&A expenses during the three months ended June 30, 2025, compared to $456,572 for the three months ended June 30, 2024, a decrease
of $167,502, or 37%. Our SG&A expenses decreased primarily due to our efforts to reduce overhead in 2025. SG&A included $33,626
and $32,132 of rent incurred in both periods from STVentures, LLC, an entity beneficially owned by our principal owners, our management
team and their affiliates, $46,372 and $65,185 of software expense, $119,747 and $197,836 of insurance, $6,846 and $33,739 of investor
relations, and $32,805 and $26,462 of subscription and membership fees for the three months ended June 30, 2025 and 2024, respectively.

Depreciation

We
incurred $5,978 of depreciation expense for the three months ended June 30, 2025, compared to $17,374 of depreciation expense for the
three months ended June 30, 2024, a decrease of $11,396, or 66%.

Other
Income (Expense)

Other
expense, on a net basis, consisted of $3,858 of interest incurred on insurance finance charges, as partially offset by $3,420 of interest
income, for the three months ended June 30, 2025. Other income, on a net basis, consisted of $3,729 of interest incurred on insurance
finance charges, offset by $3,826 of interest income, for the three months ended June 30, 2024. Other income, on a net basis, decreased
by $535, or 552%, primarily due to increased interest income compared to the prior period.

Net
Loss

Our
net loss for the three months ended June 30, 2025 was $63,596, compared to a net loss of $1,390,256 for the three months ended June 30,
2024, a decrease of $1,326,660.

Results
of Operations for the Six Months Ended June 30, 2025 and 2024

The
following table summarizes selected items from the statements of operations for the six months ended June 30,