Syra Health Corp. Class A Common Stock Q4 FY2024 earnings call

• 2024 was transformational with $8 million total revenue, 45% growth. Non-Healthcare Workforce revenues grew 66% to 26% of total.
• Gross profit margin was 20.7% in 2024 vs 25.6% in 2023, due to timing and low-margin contracts.
• Strategic priorities: commercial excellence (expanding high-revenue clients), operational excellence (39% Q4 2024 operating expense reduction), innovation excellence (expanding Syrenity app, Syra Guardrails for AI).
• Business unit updates: Population Health won contracts in MN, AL, TN; Health Education secured training contracts; Healthcare Workforce won DC gov contract and extension in IN.
• Syrenity app launched, with positive clinical study results, targeting B2B and DTC, expanding to lower-middle income countries.

In 2024, Syra Health's total revenue was $8 million, a 45% growth from 2023. The Population Health business unit had revenues of $1.7 million in 2024, more than double the $715,000 in 2023, representing a 132% annual growth, contributing approximately 21.25% to total revenue. The Healthcare Workforce business unit had revenues of $5.9 million in 2024, up 38% from $4.3 million in 2023, contributing about 73.75% to total revenue. The Health Education business unit had revenues of $40,000 in 2024, up from $12,000 in 2023, contributing ~0.5%. The Behavioral and Mental Health business unit had revenues of $17,000 in 2024, up from $13,000 in 2023, contributing ~0.21%. The Digital Health unit (SyraBot) saw a shift from milestone-based to more recurring maintenance-based revenue.

• 2025 full year guidance: low-double digit percentage revenue growth.
• Continued momentum towards profitability with narrowing net losses.

• Risk of delisting due to Nasdaq listing rules (minimum $2.5 million stockholder equity and bid price). Syra had stockholder equity of $2.9 million as of Dec 31, 2024, but addressing bid price by focusing on fundamentals and profitability.

Q: What was the rationale for filing a mixed shelf for up to $75 million when the company projected a cash runway of 2 years as part of this third quarter earnings call?

A: A shelf allows streamlining administrative tasks for capital raise, flexibility for acquisitions, joint ventures. No plans to raise capital yet, cash on hand $2.4 million.

Q: Given the current share price, how will the company protect itself from the risk of delisting due to non-compliance?

A: Nasdaq requires $2.5 million stockholder equity; Syra had $2.9 million as of Dec 31, 2024, in compliance.

Q: In terms of the minimum bid price as part of Nasdaq Listing Rules, how does Syra plan to address this issue?

A: Addressing by exploring options, not intending reverse stock splits, focusing on strengthening fundamentals and profitability.

Q: Can you tell me about the sales of Syrenity?

A: Marketing to employee assistance programs, large employers, universities, health systems; targeting direct-to-consumer; positive clinical study results showing improvement in symptoms.

Q: Tell us about the Federal government contracts you announced in early 2024. Is there any update on the task orders?

A: Actively bidding on task orders under Federal contracts announced in early 2024, will keep market informed as they materialize.