Company: SYRA
Filing Date: 2025-08-12
Form Type: 10-Q
Source: 0001641172-25-023235
Chunk: 67

Company: Syra Health Corp
Filing Date: 2025-08-12
Form: 10-Q
Item: Item 8
Chunk 67
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     1,583,367  
     (749,806)
  
    Professional
    fees 
     388,965  
     336,036  
     52,929 
  
    Research
    and development expenses 
     66,885  
     555,442  
     (488,557)
  
    Selling,
    general and administrative expenses 
     576,357  
     858,837  
     (282,480)
  
    Depreciation 
     12,775  
     29,919  
     (17,144)
  
    Total
    operating expenses: 
     1,878,543  
     3,363,601  
     (1,485,058)

    Operating
    loss 
     (536,492) 
     (2,834,307) 
     2,297,815 

    Total
    other income (expense) 
     631  
     (2,999) 
     3,630 

    Net
    loss 
    $(535,861) 
    $(2,837,306) 
    $2,301,445 

6

Net
Revenues

Net
revenue during the six months ended June 30, 2025 was comprised of $1,017,664 of healthcare staffing services revenue, $2,786,309 of
population health revenue, and $0 of behavioral and mental health revenue, compared to net revenue during the six months ended June
30, 2024 comprised of $2,833,895 of healthcare staffing services revenue, $866,031 of population health revenue, and $22,095 of
behavioral and mental health revenue, an overall revenue increase of $81,952, or 2%. The decrease in healthcare workforce revenue
was due to fewer new customer acquisitions and lower renewal value on our FSSA (NeuroDiagnostic Institute contract in January 2025,
which runs through June 2026 and has a ceiling value of approximately $1,480,000). Population health revenues increased in 2025 due
to additional services provided to state departments and other customers. We depend heavily on
state, local and county government budgets for our revenue. In 2025, the United States federal government began pausing or
terminating numerous spending programs that potentially fund those programs and institutions that are our