SYRA · Syra Health Corp. Class A Common Stock

Syra Health's Q1 2026 results mark a significant inflection point, as the company achieved its first-ever profitable quarter. Net income of $241,000 compared to a net loss of $472,265 in the prior year, driven by a 22% revenue increase to $2.3 million. The revenue growth was led by population health solutions, which surged 46% year-over-year to $1.8 million, while healthcare workforce solutions declined as expected due to a strategic shift toward higher-margin offerings. Gross margin expanded 11 percentage points to 42.7%, reflecting the favorable revenue mix and improved operating leverage. Operating expenses declined across all categories, with salaries and benefits down 27%, professional services down 16%, and SG&A down 26%, demonstrating disciplined cost management. Adjusted EBITDA improved to $244,495 from a loss of $462,239. The balance sheet strengthened with cash of $2.9 million and no long-term debt. Management noted that certain revenue recognition and contract milestones contributed to the strong quarter, and they expect quarterly variability typical of milestone-based contracts but remain on track for full-year profitability. Operational highlights include the renewal of the Shelby County Health Department contract, launch of a site visit program for a national MCO, and recognition with Innovation of the Year at TechPoint's Mira Awards for SyraBot. The company also reimagined its Syrenity platform for a broader market. CEO Greg Alexander emphasized that the fundamentals of expanding partnerships, growing demand for prevention-focused solutions, and disciplined execution remain intact.