Syra Health Posts Strong FY2025 Results with 157% Population Health Growth and 76% Net Loss Reduction: Targets Profitability by Year-End 2026
- 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 | - | - | |
Class A Common stock, $0.001 par value, 100,000,000 shares | 11,339 | 8,979 | |
Class B Common stock, $0.001 par value, 5,000,000 shares | 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 | 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 | $ (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 | $ (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
[email protected]
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