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
