Conference call will be held on Thursday, August 8 at 9:00 AM ET CARMEL, Ind., Aug. 1, 2024 /PRNewswire/ -- Syra Health Corp. (NASDAQ: SYRA), ("Syra Health" or the "Company"), a healthcare technology company powering better health by providing meaningful solutions, announced today that it will report financial results for the three months ended June 30, 2024, on Thursday, August 8, 2024, before the market opens. The Company has scheduled a conference call that same day, August 8, 2024, at 9:00 a.m. ET, to r ...

Wyoming marks the 23rd state where Syra Health has active contracts "This project exemplifies our dedication to improving community well-being and healthcare readiness across the nation," said Dr. Deepika Vuppalanchi, CEO, Syra Health. "By integrating our expertise in mental and behavioral health, with our proficiency in capacity planning and project management, we will deliver significant improvements." Statements in this press release about future expectations, plans, and prospects, as well as any other s ...

According to the National Alliance on Mental Illness (NAMI), 871,902 people in Missouri live in a community that does not have enough mental health professionals. This is Syra Health's second active contract in the state of Missouri. Syra Health announced in March that it had secured a healthcare workforce contract for providing temporary medical services personnel throughout the state. The previous contract includes recruiting specialized medical professionals specific to Missouri's healthcare needs, such ...

CARMEL, Ind., June 20, 2024 /PRNewswire/ -- Syra Health Corp. (NASDAQ: SYRA) ("Syra Health" or the "Company"), a healthcare technology company powering better health by providing meaningful solutions, announced today that it has been awarded another training by the Maricopa County Department of Public Health (MCDPH). This training focuses on diversity, equity, and inclusion (DEI) and marks Syra Health's fourth training in the county. The target audience for this training includes Maricopa County community p ...

CARMEL, Ind., June 12, 2024 /PRNewswire/ -- Syra Health Corp. (NASDAQ: SYRA) ("Syra Health" or the "Company"), a healthcare technology company powering better health by providing meaningful solutions, announced today it has been awarded a contract with the North Carolina Department of Public Safety, Division of Juvenile Justice and Delinquency Prevention to provide statewide nursing services. The contract is effective for one year, with two additional one-year renewal options. The Syra Health-provided clini ...

CARMEL, Ind., June 6, 2024 /PRNewswire/ -- Syra Health Corp. (NASDAQ: SYRA) ("Syra Health" or the "Company"), a healthcare technology company powering better health by providing meaningful solutions, announced today that it has received awards for staffing Board Certified Behavioral Analysts from the Putnam/Northern Westchester Board of Cooperative Education Services (PNWBOCES) in New York and the Little Rock School District in Arkansas. Both awards are one year in length with the PNWBOCES agreement having ...

Vice President of Syra Health's Behavioral and Mental Health Business Unit, Dr. Srikant Devaraj, will speak as part of the Emerging Trends in Behavioral and Mental Health panel taking place at 3:15 p.m. ET on June 5. Syra Health's CEO, Dr. Deepika Vuppalanchi, will deliver the Company's presentation at 4:00 p.m. ET the same day in the event's main ballroom. Recordings of the presentations will be made available following the event, under the "Presentations" section of Syra Health's Investor website at Prese ...

Core Insights - Syra Health Corp. has been awarded a contract by the Health Care Authority in Washington State, marking the company's expansion into its 20th state with active contracts [1][3] - The contract focuses on providing behavioral health and recovery training and support services to enhance the recruitment and retention of qualified professionals in Washington State [2][3] Company Overview - Syra Health is a healthcare technology company that addresses significant challenges in behavioral and mental health, digital health, and population health through innovative services and technology solutions [4] - The company's mission includes improving healthcare access, affordability, and prevention strategies [4] Training Programs - The training programs offered by Syra Health will cover seven key categories aimed at equipping behavioral health professionals with essential skills to manage mental health and substance use disorders [2] - These initiatives are designed to enhance service delivery across various care settings, focusing on both prevention and treatment to alleviate the burden of mental health issues in Washington State [2]

CARMEL, Ind., May 20, 2024 /PRNewswire/ -- Syra Health Corp. (NASDAQ: SYRA) ("Syra Health" or the "Company"), a healthcare technology company with a mission to improve healthcare by providing innovative services and technology solutions, announced today that it has been awarded a one-year contract with annual extensions for up to five years to provide Special Education (SPED) Psychologist Services for the Greenville County School District in South Carolina. The SPED Psychologist services provided by Syra He ...

Financial Data and Key Metrics Changes - Total revenue for Q1 2024 was $1.7 million, a 47% increase compared to $1.2 million in Q1 2023, driven by growth in healthcare workforce, population health, and digital health [33][34] - The net loss for Q1 2024 was $1.4 million, compared to a loss of $786,000 in the same period last year [19] - Adjusted EBITDA for the quarter was negative $1.4 million, compared to negative $763,000 in Q1 2023 [19] Business Line Data and Key Metrics Changes - Population health business unit revenues grew to $232,000 in Q1 2024 from $74,000 in the same period last year, representing a growth of over 213% [9] - Digital health generated revenues of $92,000 in Q1 2024, driven by sales of the SyraBot product [6][9] - Healthcare workforce business unit posted revenue growth of 28% to $1.4 million in Q4 2023, returning to growth [9][14] Market Data and Key Metrics Changes - The company is currently operating in 19 states, a significant achievement since its inception three years ago [12] - The health education business unit combined revenues were $11,000 in Q1 2024, up from $3,000 in the same period last year [18] Company Strategy and Development Direction - The company aims to drive growth across all business units while managing cost structure and balance sheet [21] - There is a focus on expanding technology products such as Syrenity, SyraBot, and Care Plus to enhance operational efficiency and patient care [13] - The company is expanding its federal government business opportunities and nurturing partnerships for federal projects [29] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving 2024 revenue guidance of $9 million to $11 million, which represents a 64% to 100% increase over 2023 revenues [22][35] - The company anticipates that the majority of revenues will be recognized in the latter half of 2024 due to customer implementation cycles [22] - Management highlighted strong demand for epidemiology services as a key driver for growth in the population health business unit [25] Other Important Information - Research and development expenses were $277,000, reflecting the development of technology-based solutions [19] - The company was awarded a $660,000 annual contract with a national healthcare organization for healthcare effectiveness data and a $480,000 contract from the Indiana Department of Health [30] Q&A Session Summary Question: Can you speak about the timing of the $9 million to $11 million revenue outlook for 2024? - Management reiterated that the majority of revenues are expected to be reflected in the latter half of the year due to customer implementation cycles [22] Question: What do you attribute your success in winning contracts to? - The success is attributed to an experienced team and a comprehensive suite of innovative services and technology solutions [24] Question: What is driving the strong growth in population health? - Strong demand for epidemiology services and the ability to conduct gap analysis to meet customer needs are driving growth [25]