Company: SYRA
Filing Date: 2025-11-12
Form Type: 10-Q
Source: 0001493152-25-022023
Chunk: 68

Company: Syra Health Corp
Filing Date: 2025-11-12
Form: 10-Q
Item: Item 8
Chunk 68
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 196,739 

    Total other income (expense) 
     6,269  
     11,375  
     (5,106)

    Net loss 
    $(225,902) 
    $(417,535) 
    $191,633 

Net
Revenues

Net
revenue during the three months ended September 30, 2025 was comprised of $407,960 of healthcare staffing services revenue, $1,280,011
of population health revenue, and $0 of behavioral and mental health revenue, compared to net revenue during the three months ended September
30, 2024 comprised of $1,577,788 of healthcare staffing services revenue, $652,298 of population health revenue, and $23,250 of behavioral
and mental health revenue, an overall revenue decrease of $565,365, or 25%. 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 health 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 customers. As such, we have begun to see delays in new contract
awards, or cancellations of previous requests for proposals. These factors, and the possibility of further spending reviews and cancellations
are expected to negatively affect the quantity and time of our revenue, results of operations and cash flows in the near term.

Cost
of Services

Our
cost of services included wages and related payroll taxes, employee benefits and certain other employee-related costs of our
contract service employees while they worked on contract assignments. We incurred $1,133,430 of cost of services for the three
months ended September 30, 2025, compared to $1,585,038 for the three months ended September 30, 2024, a decrease of $451,608, or
9%. Our gross profit was approximately 33% for the three months ended September 30, 2025, compared to approximately 30% for the
three months ended September 30, 2024, an increase of