Cash flow generation is highly erratic, highlighted by a 2026Q1 free cash flow margin of 59.9% that contrasts sharply with the persistent negative net income and historical cash-burning trends.
| Cash from Operations | 755.97K | -447.75K | -2.93M | -2.76M | -2.24M | -88.2K | 0 |
| Operating CF Margin % | - | -6.2% | -36.73% | -50.03% | -39.95% | -6.26% | - |
| Operating CF Growth % | 862.12% | 84.73% | -6.27% | -22.95% | -2444.32% | - | - |
| Net Income | -183.09K | -896.33K | -3.76M | -2.94M | -2.12M | -3.28K | -51.2K |
| Depreciation & Amortization | 16.61K | 20.47K | 62.74K | 48.77K | 14.85K | 207 | 0 |
| Stock-Based Compensation | 99.14K | 98.55K | 59.8K | 32.83K | 2.91K | 0 | 1.2K |
| Deferred Taxes | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Cash Items | 266.42K | 2.59K | 160.88K | 121.09K | 619.64K | 27.26K | 0 |
| Working Capital Changes | 835.38K | 326.98K | 543.79K | -23.42K | -763.3K | -112.39K | 50K |
| Change in Receivables | 76.72K | -237.55K | 430.42K | -110.16K | -940.47K | -260.63K | 0 |
| Change in Inventory | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Change in Payables | 139.9K | 217.83K | -361.3K | 27.4K | 309.86K | 125.73K | 0 |
| Cash from Investing | -107 | -107 | -11.11K | -15.25K | -121.26K | -6.29K | 0 |
| Capital Expenditures | -107 | -107 | -11.11K | -15.25K | -121.26K | -6.29K | 0 |
| CapEx % of Revenue | 0% | 0% | 0.14% | 0.28% | 2.16% | 0.45% | - |
| Acquisitions | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments | - | - | - | - | - | - | - |
| Other Investing | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Cash from Financing | -324.13K | -332.82K | 2.06M | 6.05M | 2.27M | 191.5K | 36K |
| Debt Issued (Net) | -324.13K | -347.62K | -410.68K | 518.76K | 736.48K | 300 | 0 |
| Equity Issued (Net) | 0 | 14.8K | 2.47M | 5.33M | 2.32M | 300 | 0 |
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Share Repurchases | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Financing | 0 | 0 | 0 | 200.01K | -790.32K | 190.9K | 36K |
| Net Change in Cash | 431.73K | -780.67K | -884.67K | 3.28M | -96.67K | 97.01K | 36K |
| Free Cash Flow | 755.86K | -447.85K | -2.94M | -2.77M | -2.37M | -94.49K | 0 |
| FCF Margin % | 9.89% | -6.2% | -36.87% | -50.3% | -42.1% | -6.7% | - |
| FCF Growth % | 138.2% | 84.78% | -6.09% | -17.29% | -2403.31% | - | - |
| FCF per Share | 0.06 | -0.04 | -0.41 | -0.57 | -0.32 | -0.01 | - |
| FCF Conversion (FCF/Net Income) | -4.13x | 0.50x | 0.78x | 0.94x | 1.06x | 26.89x | - |
| Interest Paid | 0 | 0 | 0 | 36.23K | 0 | 0 | 0 |
| Taxes Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Liquidity and capital exhaustion
According to recent financial disclosures, SYRA's operating cash flow to net income ratio has fluctuated wildly, ranging from -0.34 to 5.65, which suggests that reported earnings are currently disconnected from the underlying cash reality of the firm's volatile government-contract-heavy business model.
The extreme variance in the OCF/NI ratio indicates that accruals and working capital swings are the primary drivers of cash movement rather than core operational profitability. Investors should monitor this divergence, as it implies that the company's accounting earnings may not be a reliable proxy for its actual ability to generate cash from operations.
As reported in financial statements, SYRA's free cash flow trajectory has been characterized by deep, inconsistent deficits, with the most recent quarterly data showing a swing from a $1.4M surplus to a $289K deficit, highlighting the company's inability to maintain a consistent cash-generative state.
The lack of a stable FCF trend suggests that the company's current business model is highly sensitive to the timing of project-based revenue and government payment cycles. This volatility makes it difficult to forecast future liquidity needs and suggests that the firm remains in a cash-burning phase of its development.
Based on SYRA's reported figures, working capital changes have been the dominant factor in quarterly cash flow, with a significant $1.1M inflow in 2026Q1 followed by substantial outflows in prior periods, indicating that the company's cash position is heavily dependent on the timing of receivables.
The reliance on working capital fluctuations to bridge cash gaps suggests that the company lacks a self-sustaining operational engine. This dependency on the timing of collections from government entities introduces significant uncertainty into the firm's short-term liquidity profile.
Analysis of the cash flow statement reveals that stock-based compensation and minimal capital expenditures mask the true cost of maintaining the business, as evidenced by the persistent negative net income that continues to erode the company's limited cash reserves of $1.6M.
The minimal investment in capital expenditures may suggest that the company is under-investing in the infrastructure required to scale its digital health platform. This strategy appears to prioritize short-term survival over the long-term asset development necessary to achieve a sustainable competitive advantage.
Quick answers to the most common questions about buying SYRA stock.
Syra Health Corp. Class A Common Stock (SYRA) generated $-0.4M in net cash from operating activities in 2025. This reflects the cash generated directly from core business operations.
Syra Health Corp. Class A Common Stock (SYRA) reported negative free cash flow of $0.4M in 2025, indicating capital requirements exceeded cash from operations.
Syra Health Corp. Class A Common Stock (SYRA) spent $0.0M on capital expenditures in 2025. CapEx represents the cash invested in physical assets like property, plant, and equipment to maintain or grow the business.