-- FY2025 EPS improved to ($0.08) compared to ($0.50) in FY2024
-- YoY net loss reduced 76% to ($896K) from ($3.8M) in FY2024
-- Population health revenue grew 157% to $5.3 million versus $2.1 million
in FY2024
-- Operating expenses declined 37% to $3.4 million compared to $5.4 million
in FY2024
CARMEL, Ind., March 12, 2026 /PRNewswire/ -- Syra Health Corp. (OTCQB: SYRA) ("Syra Health" or the "Company"), an integrated healthcare solutions company powering better health outcomes through prevention-focused, accessible, and affordable solutions, announced today its financial results for the fourth quarter and full year ended December 31, 2025.
Q4 and Full Year 2025 Financial Highlights
-- Population Health revenue grew 157% year-over-year to $5.3 million in FY2025 from $2.1 million in FY2024, driven by demand for the Company's higher margin yielding population health solutions, including data analytics, health education and training. Q4 2025 Population Health revenue grew 128% year-over-year to $1.3 million, compared to $550K in Q4 2024. -- Earnings per share improved by $0.42 in FY2025 to ($0.08) from ($0.50) in FY2024. Q4 2025 EPS improved to ($0.01) from ($0.08) in Q42024, representing meaningful progress as the Company moves closer to profitability. -- Total operating expenses declined 37% to $3.4 million in FY2025 when compared to $5.4 million in FY2024. Q4 2025 operating expenses decreased 13% to $727K from $836K in Q4 2024. -- Net loss improved 76% to ($896K) in FY2025 from ($3.8M) in FY2024. Q4 2025 net loss was reduced 73% to ($135K) versus ($504K) in Q4 2024, reflecting a significantly improved cost structure. -- Gross margin grew to 34.4% in FY2025 from 20.7% in FY2024, representing a 14 percentage point increase, attributed to improved operational efficiency and a higher-quality revenue mix.
2026 Financial Outlook
-- The Company expects to achieve profitability by year-end 2026, driven by
continued strong demand for its comprehensive population health solutions,
disciplined cost management, and new contract wins.
Recent Operational Highlights
-- Executed a strategic transformation from a healthcare technology provider
to an integrated healthcare solutions company, delivering end-to-end
capabilities for its government and commercial healthcare customers.
-- Won a new training contract in Washington state to safeguard behavioral
health workers from workplace violence, addressing a critical and growing
need on the frontlines of care.
-- Scaled our live-agent HEDIS call center operations and expanded
utilization nursing staff to meet demand from insurance company
customers.
-- Launched a wellness pilot program in collaboration with a public health
department in North Carolina to protect employees from secondary trauma.
-- Submitted Syrenity for FDA approval under the FDA's TEMPO pilot program,
positioning the Company to participate in CMS's ACCESS Model, a 10-year
national initiative launching July 2026 that rewards improved patient
outcomes in behavioral health.
Management Commentary
Greg Alexander, CEO of Syra Health, said, "2025 was a breakout year for Syra Health. Our team delivered on two fronts, driving 157% growth in Population Health revenue while aggressively restructuring our cost base, cutting our net loss by 76%, and improving gross margins by 14 percentage points. This combination of top-line momentum and bottom-line discipline is what gives us confidence in our path to profitability by year-end 2026. Our evolution into an integrated healthcare solutions company reflects the strength and breadth of our portfolio. We are proud of what our team has built, and we remain committed to delivering value for our shareholders and better health outcomes for the communities we serve across the U.S."
2025 Financial Results
For FY2025 ending December 31, revenue was $7.2 million, a 9% decrease compared to $8.0 million in FY2024, primarily due to the previously announced slowing or termination of federal government funding that supports many of the Company's customers at the state and county government level.
Adjusted EBITDA for 2025 was ($863K) compared to ($3.7 million) in 2024, indicating significant year-over-year efficiency gains and improvement in the company's operational profitability.
Cash on hand was $1.6 million, and there was no long-term debt as of December 31, 2025.
Syra Health Corp
Balance Sheets
December 31, 2025 December 31, 2024
----------------------------- ------------------------
ASSETS
Current assets:
Cash $ 1,614,733 $ 2,395,405
Accounts
receivable, net 918,374 680,827
Other current
assets 205,423 276,563
Total current
assets 2,738,530 3,352,795
Property and
equipment, net 6,986 27,347
Right of use asset 27,401 299,190
Total assets $ 2,772,917 $ 3,679,332
============================= ========================
LIABILITIES AND
STOCKHOLDERS'
EQUITY (DEFICIT)
Current
liabilities:
Accounts payable $ 247,520 $ 101,690
Accounts payable,
related parties 72,000 -
Accrued expenses 194,821 230,383
Deferred revenue 16,611 16,611
Current portion of
operating lease
liability, related
party 27,401 111,978
Notes payable 116,386 152,887
Total current
liabilities 674,739 613,549
Non-current portion
of operating lease
liability, related
party - 187,212
Total liabilities 674,739 800,761
----------------------------- ------------------------
Stockholders'
equity:
Preferred stock,
$0.001 per value,
10,000,000 shares
authorized, none
issued - -
Class A Common
stock, $0.001 par
value, 100,000,000
shares authorized,
11,339,169 and
8,979,204 issued
and outstanding at
December 31, 2025
and 2024
respectively 11,339 8,979
Class B Common
stock, $0.001 par
value, 5,000,000
shares authorized,
600,000 and
833,334 issued and
outstanding at
December 31, 2025
and 2024
respectively 600 833
Additional paid in
capital 11,806,765 11,692,952
Accumulated deficit (9,720,526) (8,824,193)
Total
stockholders'
equity 2,098,178 2,878,571
----------------------------- ------------------------
Total liabilities
and stockholders'
equity 2,772,917 $ 3,679,332
============================= ========================
Syra Health Corp
Statements of Operations
For the Years Ended December 31, 2025 and 2024
December 31, 2025 December 31, 2024
------------------------------- -----------------------------
Net revenues $ 7,225,973 $ 7,982,082
Cost of services 4,738,211 6,329,119
Gross profit 2,487,762 1,652,963
------------------------------- -----------------------------
OPERATING
EXPENSES:
Salaries and
benefits 1,500,688 2,718,743
Professional
services 737,714 606,051
Research and
development
expenses 67,840 585,146
Selling, general
and
administrative
expenses 1,065,376 1,445,170
Depreciation 20,468 62,738
Total operating
expenses 3,392,086 5,417,848
------------------------------- -----------------------------
Net loss from
operations (904,324) (3,764,885)
OTHER INCOME
(EXPENSES):
Interest income 21,261 21,247
Interest expense (13,270) (15,600)
Total other
income
(expense) 7,991 5,647
------------------------------- -----------------------------
NET INCOME (LOSS) $ (896,333) $ (3,759,238)
=============================== =============================
Loss per common
share, basic and
diluted $ (0.08) $ (0.50)
=============================== =============================
Weighted average
number of common
shares
outstanding,
basic and
diluted 11,852,347 7,551,576
=============================== =============================
Syra Health Corp
Statements of Cash Flows
For the Years Ended December 31, 2025 and 2024
2025 2024
----------------- -----------------------
CASH FLOWS FROM OPERATING
ACTIVITIES:
Net Income (Loss) $ (896,333) $ (3,759,238)
Adjustments to reconcile net
loss to net cash used in
operating activities:
Depreciation Expense 20,468 62,738
Common stock issued for
services 2,586 71,378
Stock-based compensation,
stock options 98,554 59,803
Non-cash lease expense - 89,500
Changes in operating assets
and liabilities:
Accounts receivable (237,547) 379,807
Accounts receivable, related
party - 50,614
Other current assets 382,258 491,883
Right-of-use asset 105,670 -
Accounts payable 145,830 (361,301)
Accounts payable, related
parties 72,000 -
Deferred revenue - 16,611
Accrued expenses (35,562) 55,672
Operating lease liability (105,670) (89,500)
Net cash used in operating
activities (447,746) (2,932,033)
----------------- -----------------------
CASH FLOWS FROM INVESTING
ACTIVITIES:
Purchases of property and
equipment (107) (11,111)
-----------------------
Net cash provided by (used in)
investing activities (107) (11,111)
----------------- -----------------------
CASH FLOWS FROM FINANCING
ACTIVITIES:
Proceeds received on exercise
of Class A common stock
warrants 14,800 2,469,150
Repayment of notes payable (347,619) (410,676)
Net cash provided by financing
activities (332,819) 2,058,474
----------------- -----------------------
Net change in cash (780,672) (884,670)
Cash at beginning of period 2,395,405 3,280,075
----------------- -----------------------
Cash at end of period $ 1,614,733 $ 2,395,405
================= =======================
Supplemental disclosure of
cash flow information:
Cash paid for interest $ 13,270 $ 15,600
================= =======================
Cash paid for taxes - -
================= =======================
Non-cash investing and
financing activities:
Conversion of Class B common
stock to Class A common
stock $ 2,333 $ -
================= =======================
Initial recognition of
right-of-use asset and lease
liability $ - $ 325,491
================= =======================
Amendment of right-of-use
asset and lease liability $ 166,119 $ -
================= =======================
Options issued for director
fees $ - $ 24,267
================= =======================
Prepaid asset financed with
note payable $ 311,118 $ 378,659
================= =======================
Non-GAAP Financial Measures
In addition to financial results reported in accordance with accounting principles generally accepted in the United States of America ("GAAP"), we have provided the following non-GAAP financial measure in this release and the accompanying tables: adjusted EBITDA. We use this non-GAAP financial measures internally to facilitate period-to-period comparisons and analysis of our operating performance and liquidity, and believe it is useful to investors as a supplement to GAAP measures in analyzing, trending, and benchmarking the performance and value of our business. However, this measure is not intended to be a substitute for those reported in accordance with GAAP. These measures may be different from non-GAAP financial measures used by other companies, even when similar terms are used to identify such measures. For reconciliations of historical non-GAAP financial measures to the most comparable financial measures under GAAP, see the table below.
Syra Health Corp
EBITDA
Year Ended
---------------------------------------------------
December 31, 2025 December 31, 2024
------------------------- ------------------------
Net Loss $ (896,333) $ (3,759,238)
Interest expense 13,270 15,600
Depreciation expense 20,468 62,738
Taxes - -
Earnings before
Interest, Taxes
Depreciation and
Amortization $ (862,595) $ (3,680,900)
========================= ========================
Quarter ended
---------------------------------------------------
December 31, 2025 December 31, 2024
------------------------- ------------------------
Net Loss $ (134,570) $ (504,397)
Interest expense 5,369 5,528
Depreciation expense 2,297 7,278
Taxes - -
Earnings before
Interest, Taxes
Depreciation and
Amortization $ (126,904) $ (491,591)
========================= ========================
About Syra Health
Syra Health is an integrated healthcare solutions company serving government and commercial healthcare organizations with innovative solutions that improve health outcomes. We specialize in healthcare prevention, expanding access, and delivering affordable solutions. Our healthcare analytics capabilities provide proactive, actionable insights and data-driven intelligence, and our HIPAA-compliant and fully accessible digital health solutions enable measurable health outcomes in highly regulated healthcare environments. Through training and education, we help healthcare organizations reduce costs and deliver consistent, high-quality care.
Forward-Looking Statements
Statements in this press release about future expectations, plans, and prospects, as well as any other statements regarding matters that are not historical facts, may constitute "forward-looking statements." These statements include but are not limited to, statements relating to the expected use of proceeds, the Company's operations and business strategy, and the Company's expected financial results. The words "anticipate," "believe," "continue," "could," "estimate," "expect," "intend," "may," "plan," "potential," "predict," "project," "should," "target," "will," "would" and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. The forward-looking statements contained in this press release are based on management's current expectations and are subject to substantial risks, uncertainty, and changes in circumstances. Investors should read the risk factors set forth in our Form 10-K for the year ended December 31, 2025, and other periodic reports filed with the Securities and Exchange Commission. Any forward-looking statements contained in this press release speak only as of the date hereof, and, except as required by federal securities laws, the Company specifically disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events, or otherwise.
Contact
Christine Drury
IR/PR
Syra Health
463-345-5180
christined@syrahealth.com
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SOURCE Syra Health
(END) Dow Jones Newswires
March 12, 2026 07:55 ET (11:55 GMT)