Syra Health Q1 revenue up 47% to $1.7M, net loss widens to $1.4M; FY2024 guidance $9-11M

Syra Health Corp

2024-Q1 EPS reported -$0.22 vs consensus -$0.19 ▼ miss (-13.5%)

Revenue $1.7M vs $1.2M Q1 2023; Population Health grew 212% YoY; Healthcare Workforce up 28%.
Net loss $(1.4M) vs $(0.8M); Adjusted EBITDA $(1.4M) vs $(0.8M).
Gross margin 10.2% (12.4% Q1 2023) due to mix shift to Healthcare Workforce.
Cash $3.2M, no long-term debt; FY2024 revenue guidance $9-11M (64-100% growth).
Awarded contracts: $660K HEDIS, $480K Indiana, $450K Shelby County, $250K DC; active in 19 states.

item 2.02 item 9.01

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 first quarter ended March 31, 2024 results: revenue $1.7 million, net income $(1.4 million). Guidance reaffirmed.

Period: first quarter ended March 31, 2024
Revenue: $1.7 million
Net income: $(1.4 million)
Guidance: reaffirmed
Result: reported results

Exact text from the filing

innovative services and technology solutions, announced today its financial results for the first quarter ended March 31, 2024. Q1 2024 Financial Highlights ● Revenue of $1.7 million in 1Q24 compared to $1.2 million in 1Q23. ● Business units excluding Healthcare Workforce grew 333% and comprised 19% of total revenues in 1Q24, versus only 7% in 1Q23. ●

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Source: SEC EDGAR

accession 0001493152-24-018507

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