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Syra Health Corp. Class A (SYRA)
NASDAQ:SYRA
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Earnings Data
Report Date
Mar 31, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
-0.07Last Year’s EPS
-0.16Same Quarter Last Year
Based on 0 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Mar 25, 2024
|% Change Since: 31.71%
|Next Earnings Date:Nov 14, 2023
Earnings Call Sentiment|Positive
The earnings call highlights a strong revenue growth and significant improvements in operational efficiency and net loss reduction. However, challenges such as decreased gross profit margin year-over-year and increased operating expenses were noted. Despite these challenges, the company has made strategic advancements and secured new contracts, indicating a positive outlook.Company Guidance
During the Q3 2024 earnings call for Syra Health, key financial metrics highlighted a robust performance, with revenues growing by 42% compared to the same period last year. This growth was primarily driven by the Population Health business unit, which contributed significantly through its high-margin services, and the Healthcare Workforce business, which exceeded expectations. The gross profit margin for the quarter was 30%, a decrease from the previous year's 35%, largely due to timing differences in project implementations. Nonetheless, total revenue increased by 14.4% over the previous quarter, and gross profit margins improved by 1,190 basis points compared to Q2 2024, showcasing enhanced operational efficiency. The company also reported a 69% reduction in net loss from the previous quarter. Additionally, a strategic capital raise of $2.1 million bolstered financial flexibility, supporting ongoing growth initiatives. Syra Health remains confident in its trajectory towards profitability by 2025, supported by strategic cost optimization and innovative product expansions, including the Syrenity mental health app and AI-driven health solutions.Revenue Growth
Revenues grew by 42% compared to the same period last year, driven by the high-margin Population Health business unit and the Healthcare Workforce business.
Operational Efficiency
Gross profit margin improved by 1,190 basis points compared to the second quarter of 2024, reflecting operational efficiency and profitability.
Net Loss Reduction
Net loss was reduced by 69% from the second quarter of 2024, showcasing successful cost-cutting measures.
New Contracts and Market Expansion
Secured a $6 million contract with Indiana's family and social services administration and new contracts in Delaware, Florida, and Kansas.
Capital Raise
Successfully completed a capital raise generating gross proceeds of $2.1 million to support growth initiatives.
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SYRA Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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SYRA Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Oct 29, 2024 | $0.41 | $0.49 | +19.51% |
| Aug 08, 2024 | $1.29 | $1.31 | +1.55% |
| May 09, 2024 | $2.14 | $1.51 | -29.44% |
| Mar 25, 2024 | $1.72 | $1.50 | -12.79% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Syra Health Corp. Class A (SYRA) report earnings?
Syra Health Corp. Class A (SYRA) is schdueled to report earning on Mar 31, 2025, TBA Not Confirmed.
What is Syra Health Corp. Class A (SYRA) earnings time?
Syra Health Corp. Class A (SYRA) earnings time is at Mar 31, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is SYRA EPS forecast?
SYRA EPS forecast for the fiscal quarter 2024 (Q4) is -0.07.
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