Financial Performance - Q3 2025 revenue was $1.7 million, a decrease from $2.3 million in Q3 2024, primarily due to federal spending cuts impacting state and county government budgets [7] - Net loss decreased by 46% year-over-year to ($225,902) from ($417,535) in Q3 2024, reflecting improved operational efficiency [4] - Adjusted EBITDA improved to ($218,601) in Q3 2025 compared to ($389,728) in Q3 2024, indicating better operational performance [10] Revenue Growth - Population Health segment revenue grew 96% year-over-year to $1,280,011, driven by successful upselling to state health departments and private sector customers [4] Cost Management - Total operating expenses declined by 28% to $786,712 in Q3 2025 from $1,097,208 in the prior year, driven by disciplined cost management [9] - Salaries and benefits expenses decreased by 43% to $336,390 due to workforce optimization efforts [11] - Professional services expenses increased by 25% to $191,726 in Q3 2025, as external consultants were engaged to refine corporate strategy [11] - Research and Development expenses decreased by 98% to $816, reflecting a reduction in consulting expenses related to technology-based solutions [11] Cash Position - Cash and cash equivalents at the end of Q3 2025 were $1.98 million, with no long-term debt [13] Forward-Looking Statements - The company emphasizes that forward-looking statements are based on current expectations and are subject to substantial risks and uncertainties [25] - Investors are advised to review risk factors in the Form 10-K for the year ended December 31, 2024, and other periodic reports filed with the SEC [25] - The company disclaims any obligation to update forward-looking statements unless required by federal securities laws [25]
Syra Health (SYRA) - 2025 Q3 - Quarterly Results