Quarterly ResultMay 7, 2026, 08:27 AM
Syra Health Achieves First Profitable Quarter in Q1 2026; Net Income $241K
AI Summary
Syra Health Corp. reported its first-ever profitable quarter in Q1 2026, with net income of approximately $241,000, a significant improvement from a net loss of $(472,265) in the prior year. Total revenue increased by 22% to $2.3 million, driven by strong growth in population health solutions. The company also expanded its gross margin to 42.7% and ended the quarter with $2.9 million in cash and no long-term debt. Operational highlights include key contract renewals and industry awards for its innovative health solutions.
Key Highlights
- Achieved first profitable quarter with net income of $240,979 in Q1 2026.
- Q1 2026 EPS grew to $0.02 per share, up from ($0.04) in Q1 2025.
- Total revenue increased 22% to $2.3 million compared to $1.9 million year-over-year.
- Gross margin expanded 11 percentage points to 42.7% from 31.7% in Q1 2025.
- Cash on hand grew to $2.9 million with no long-term debt as of March 31, 2026.
- Population health solutions revenue rose to $1.8 million, up 46% year-over-year.
- Operating expenses declined across all major categories, including salaries (-27%) and R&D (-81%).
- Shelby County Health Department contract renewed for a second consecutive term.