Syra Health 2023 revenue $5.5M, net loss $2.94M; projects 64-100% growth in 2024

Syra Health Corp

FY2023 revenue $5.5M, net loss $(2.94M), vs $5.6M and $(2.12M) in 2022.
Gross profit margin improved 670 bps to 25.6% from 18.9% in 2022 on mix shift to higher-margin units.
Adjusted EBITDA loss widened to $(2.8M) from $(2.1M); cash balance $3.3M with no long-term debt.
Guides FY2024 revenue of $9-$11M (64-100% growth), excluding potential revenue from recent Caduceus federal contract.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Syra Health Corp reported the fourth quarter and fiscal year ended December 31, 2023 results: revenue $5.5 million, net income $(2.94 million). Guidance reaffirmed.

Period: the fourth quarter and fiscal year ended December 31, 2023
Revenue: $5.5 million
Net income: $(2.94 million)
Guidance: reaffirmed
Result: reported results

Exact text from the filing

and technology solutions, today announced its financial results for the fourth quarter and fiscal year ended December 31, 2023. 2023 Financial Highlights ● 2023 revenue of $5.5 million compared to $5.6 million in 2022. ● Business units excluding Healthcare Workforce grew 250% and comprised 23% of total revenues in 2023, versus only 6% in 2022. ● Population

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Syra Health Corp reported full-year 2024 results: revenue $9 to $11 million. Guidance initiated.

Period: full-year 2024
Revenue: $9 to $11 million
Guidance: initiated
Result: guidance update

Exact text from the filing

The Company expects full-year 2024 revenue of $9 to $11 million, representing a growth of 64%-100% versus 2023.

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Source: SEC EDGAR

accession 0001493152-24-011142

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