Syra Health Corp

Syra Health Corp is a U.S.-based healthcare services company organized around workforce staffing, population health, and behavioral and mental health offerings. The company serves public-sector and healthcare clients through contracts that combine staffing, data analytics, health education, and related consulting services, with operations centered in Indiana and other U.S. markets.

−12,2 %

34,4 %

−12,4 %

−9,5 %

4.06

— Syra Health Corp
	%
Healthcare Workforce Services	35% Staffing and workforce placement for healthcare and social service settings.
Population Health	45% Analytics, reporting, training, and digital health services for care programs.
Behavioral and Mental Health	5% Behavioral health support and related service delivery for care organizations.
Health Education and Consulting	15% Research consulting, health education, and program support services.

Syra Health primarily sells to state, local, and county government agencies, especially health and social service...

State government health agenciesprimary
Buy workforce staffing, population health, and behavioral health services for public programs.
County and local governmentsprimary
Purchase services tied to community health, social services, and program administration.
Managed care organizationssecondary
Use population health and reporting services to support care management and outcomes.
Healthcare networks and institutionssecondary
Buy staffing, consulting, and health education support for clinical and operational needs.
Universities and research-oriented organizationsemerging
Engage the company for healthcare research consulting and program support.

Syra Health is headquartered in Carmel, Indiana and operates primarily in the United States...

•Headquartered in Carmel, Indiana
•Revenue is concentrated in the United States
•Business depends on Indiana state agency contracts
•Public funding cycles affect contract timing and volume
•U.S. healthcare regulation shapes operating requirements

The company is building an integrated healthcare services platform across staffing, population health, and behavioral...

Cross-sell across service linesshort-term

Raises wallet share with existing customers and deepens account relationships.

Broaden the customer basemedium-term

Reduces dependence on a few large contracts and lowers concentration risk.

Build integrated healthcare solutionsmedium-term

Creates a more defensible offering than standalone staffing or consulting.

Syra Health is exposed to customer concentration, public funding dependence, and contract award timing, all of which...

high

Customer concentration

A small number of customers account for a large share of revenue and receivables.

Scope: FSSA and Humana represented major revenue shares in reported periods.
Materiality: high

high

Public funding and government budget dependence

Many customers rely on state, local, county, and federal program funding.

Scope: Delays or cancellations in public programs can reduce contract volume.
Materiality: high

medium

Regulatory and contracting compliance

Healthcare services and government contracts are subject to detailed rules and penalties.

Scope: Non-performance or ethical violations can reduce revenue and increase costs.
Materiality: medium

medium

Competitive pressure

The company competes with larger healthcare consulting and analytics providers.

Scope: Pricing pressure and customer substitution can limit growth.
Materiality: medium

Revenue recognition by service line

Affects timing of revenue and comparability across quarters

Contract penalties and net revenue presentation

Can reduce recognized revenue and margin visibility

Accounts receivable collectability

Allowance estimates affect earnings and balance sheet quality

Going concern and liquidity assumptions

Management estimates can influence disclosures and valuation judgments

Syra Health Corp

Customer concentration

Public funding and government budget dependence

Regulatory and contracting compliance

Competitive pressure

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