Syra Health Delivers its First Profitable Quarter in Q1 2026, Expands Margins and Strengthens Financial Position

CARMEL, Ind., May 7, 2026 /PRNewswire/ -- Syra Health Corp. (OTCQB: SYRA) ("Syra Health" or the "Company"), an integrated healthcare solutions company powering better health outcomes through prevention-focused, accessible, and affordable solutions, announced today its financial results for the first quarter ended March 31, 2026.

Q1 2026 Financial Highlights

Syra Health achieved profitability in Q1 2026, with net income of $240,979, compared to a net loss of $(472,265) in the prior year period, an improvement of approximately $713,000.

2026 Financial Outlook

Recent Operational Highlights

Management Commentary

Greg Alexander, CEO of Syra Health, said, "Q1 2026 represents a major milestone for Syra Health as we achieved our first profitable quarter, reflecting the growing strength of our business. This performance was driven by year-over-year revenue growth, significant gross margin expansion, and positive net income and earnings per share. Our population health solutions continue to be a powerful growth engine for us, validating our prevention-focused mission. Ongoing contract renewals and expansions with existing customers further reinforce the value of our offerings, providing strong revenue visibility and signaling long-term customer confidence, an important indicator of stability and sustainable growth for investors. While quarterly results may vary due to contract timing and milestone recognition, we remain confident in our profitability trajectory by year-end, as the fundamentals driving our business— expanding partnerships, growing demand for accessible, affordable, and prevention-focused healthcare solutions, and disciplined execution— remain firmly intact."

Q1 2026 Financial Results

Revenue for the first quarter of 2026 was $2.3 million, an increase of 22% compared to $1.9 million in the first quarter of 2025. Strong growth was driven by the Company's high-margin population health solutions, which grew 46% year-over-year to $1.8 million from $1.2 million. Healthcare workforce solutions decreased, as expected, to approximately $513,000 from $655,000 in the prior period, as the Company strategically prioritizes higher-margin solutions. We expanded our gross profit margin by 11 percentage points to 42.7% compared with 31.7% in the prior year period, due to a revenue mix shift toward higher-margin solutions and improved operating leverage in Population Health.

Operating expenses declined across all major categories, reflecting disciplined cost management and improved operational efficiency. Salaries and benefits decreased 27% from $507,207 in Q1 2025 to $372,109 in Q1 2026. Professional services fell 16% to $187,141 in Q1 2026 from $224,026 in the prior year period. SG&A was reduced by 26% to $213,047 in Q1 2026 when compared to $287,287 in Q1 2025. Research and development expenses declined significantly by 81% to $6,921 for the first quarter of 2026 from $37,173 in the first quarter of 2025. Depreciation declined 85% to $1,054 from $6,797 in the year-ago period.

Adjusted EBITDA for the first quarter of 2026 was $244,495, a material improvement when compared to ($462,239) in the prior year.

SYRA HEALTH CORP.

SYRA HEALTH CORP.

In addition to financial results reported in accordance with accounting principles generally accepted in the United States of America ("GAAP"), we have provided the following non-GAAP financial measure in this release and the accompanying tables: adjusted EBITDA. We use this non-GAAP financial measures internally to facilitate period-to-period comparisons and analysis of our operating performance and liquidity and believe it is useful to investors as a supplement to GAAP measures in analyzing, trending, and benchmarking the performance and value of our business. However, this measure is not intended to be a substitute for those reported in accordance with GAAP. These measures may be different from non-GAAP financial measures used by other companies, even when similar terms are used to identify such measures. For reconciliations of historical non-GAAP financial measures to the most comparable financial measures under GAAP, see the table below.

Syra Health Corp EBITDA

About Syra Health

Syra Health is an integrated healthcare solutions company serving government and commercial healthcare organizations with innovative solutions designed to improve health outcomes. We specialize in healthcare prevention, expanding access, and delivering affordable solutions. Our healthcare analytics capabilities provide proactive, actionable insights and data-driven intelligence, and our HIPAA-compliant and fully accessible digital health solutions enable measurable health outcomes in highly regulated healthcare environments. Through training and education, we help healthcare organizations reduce costs and deliver consistent, high-quality care.

Discover our healthcare solutions at www.syrahealth.com and follow the Company on LinkedIn. 

Forward-Looking Statements

Statements in this press release about future expectations, plans, and prospects, as well as any other statements regarding matters that are not historical facts, may constitute "forward-looking statements." These statements include but are not limited to, statements relating to the expected use of proceeds, the Company's operations and business strategy, and the Company's expected financial results. The words "anticipate," "believe," "continue," "could," "estimate," "expect," "intend," "may," "plan," "potential," "predict," "project," "should," "target," "will," "would" and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. The forward-looking statements contained in this press release are based on management's current expectations and are subject to substantial risks, uncertainty, and changes in circumstances. Investors should read the risk factors set forth in our Form 10-K for the year ended December 31, 2025, and other periodic reports filed with the Securities and Exchange Commission. Any forward-looking statements contained in this press release speak only as of the date hereof, and, except as required by federal securities laws, the Company specifically disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events, or otherwise.

Contact

Christine Drury
IR/PR Director
Syra Health
463-345-5180

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SOURCE Syra Health