Syra Health Corp (SYRA) 2024 Q2 法說會逐字稿

Good day and welcome to the Q2 2024 earnings call. (Operator Instructions) Please note this event is recorded. I would now like to turn the conference over to Christine Drury. Please go ahead.

美好的一天，歡迎參加 2024 年第二季財報電話會議。（操作員說明）請注意此事件已被記錄。我現在想把會議交給克莉絲汀·德魯裡。請繼續。

Good morning, everyone, and thank you for joining us for Syra Health's second quarter 2024 financial results conference call. My name is Christine Drury, and I Direct Investor Relations, Public Relations and Marketing for Syra Health. Joining us on today's call is Dr. Deepika Vuppalanchi, CEO Syra Health, and Priya Prasad, Syra's Chief Financial Officer.

大家早安，謝謝您參加 Syra Health 2024 年第二季財務業績電話會議。我叫 Christine Drury，負責 Syra Health 的投資人關係、公共關係和行銷部門。Syra Health 執行長 Deepika Vuppalanchi 博士和 Syra 財務長 Priya Prasad 參加了今天的電話會議。

At the conclusion of today's prepared remarks, management will answer some questions that were sent to us by investors and other questions we think are relevant to investors as well. Today's event is being recorded and will be available for replay through the webcast information provided in the press release.

在今天準備好的發言結束時，管理層將回答投資者向我們提出的一些問題以及我們認為也與投資者相關的其他問題。今天的活動正在錄製中，並將透過新聞稿中提供的網路廣播資訊重播。

I'd also like to call your attention to the customary Safe Harbor disclosure regarding forward-looking information. The conference call today will contain certain forward-looking statements, including statements regarding the goals, strategies, beliefs, expectations and future potential operating results of Syra Health.

我還想提請您注意有關前瞻性資訊的慣例安全港披露。今天的電話會議將包含某些前瞻性聲明，包括有關 Syra Health 的目標、策略、信念、期望和未來潛在營運績效的聲明。

Although management believes these statements are reasonable based on estimates, assumptions and projections as of today, these statements are not guarantees of future performance. Time sensitive information may no longer be accurate at the time of any telephonic or webcast replay.

儘管管理層認為這些陳述是基於截至目前的估計、假設和預測是合理的，但這些陳述並不能保證未來的表現。對時間敏感的資訊在任何電話或網路廣播重播時可能不再準確。

Actual results may differ materially as a result of risks, uncertainties and other factors, including but not limited to the factors set forth in the company's filings with the SEC. Syra undertakes no obligations to update or revise any of these forward-looking statements.

由於風險、不確定性和其他因素（包括但不限於公司向 SEC 提交的文件中列出的因素），實際結果可能會存在重大差異。Syra 不承擔更新或修改任何這些前瞻性聲明的義務。

With that said, I would like to turn the event over to Dr. Deepika Vuppalanchi, Chief Executive Officer of Syra Health. Deepika, please proceed.

話雖如此，我想將這次活動交給 Syra Health 執行長 Deepika Vuppalanchi 博士。迪皮卡，請繼續。

Thank you, Christine, and welcome everyone. I'm pleased to discuss with you our second quarter 2024 financial results. I will begin by providing some highlights on a strong second quarter financial result, followed by our strategy of growth while providing more information on our products and services as we move towards profitability. I will then hand over the call to our Chief Financial Officer, Priya Prasad, who will review our financial results in detail.

謝謝克里斯汀，歡迎大家。我很高興與您討論我們 2024 年第二季的財務表現。首先，我將介紹第二季度強勁財務業績的一些亮點，然後介紹我們的成長策略，同時提供有關我們的產品和服務的更多信息，以實現盈利。然後我會將電話轉交給我們的財務長 Priya Prasad，他將詳細審查我們的財務表現。

Second quarter was a strong quarter for Syra with revenues up by 101% year-over-year, significantly outpacing the impressive 47% growth in the first quarter. This performance was driven by our population health, healthcare workforce and digital health business unit.

Syra 在第二季表現強勁，營收年增 101%，大大超過第一季令人印象深刻的 47% 成長。這一業績是由我們的人口健康、醫療保健勞動力和數位健康業務部門推動的。

As expected, our numerous contract wins in recent months have begun to convert into revenue for 2024. Additionally, we expanded our gross margins in the second quarter by 468 basis points, fueled by the increased contribution of our higher-margin business units.

正如預期的那樣，我們近幾個月贏得的眾多合約已開始轉化為 2024 年的收入。此外，在利潤率較高的業務部門貢獻增加的推動下，我們第二季的毛利率提高了 468 個基點。

Syra Health's mission is to power better health by offering innovative services and technology products that bridge critical gaps in healthcare with a steadfast focus on prevention, access and affordability. Our goal is to become a leader in healthcare solution steering towards profitability by building on our established and proven success with state health organizations and private sector nationwide.

Syra Health 的使命是透過提供創新服務和技術產品，彌合醫療保健領域的關鍵差距，堅定不移地專注於預防、獲取和負擔能力，從而改善健康狀況。我們的目標是透過與全國各地的州衛生組織和私營部門取得的既定且經過驗證的成功，成為醫療保健解決方案領域的領導者，從而實現盈利。

The growing urgency to address mental and behavioral health issues is attracting significant attention with both public and private sectors dedicating increased resources to tackling this crisis. We are proud to offer a meaningful solution with Syrenity, our comprehensive, proprietary evidence-based mental health app. Developed in-house and powered by advanced AI-driven technology, Syrenity is designed to provide impactful and accessible mental health support.

解決心理和行為健康問題日益緊迫，引起了公部門和私部門的高度關注，紛紛投入更多資源來應對這場危機。我們很自豪能夠透過 Syrenity 提供有意義的解決方案，Syrenity 是我們全面、專有的基於證據的心理健康應用程式。Syrenity 由內部開發並由先進的人工智慧驅動技術提供支持，旨在提供有影響力且易於獲取的心理健康支援。

I would like to now speak about our business units in more detail. I will start with our population health business unit. Here, our team of expert epidemiologists, data scientists, public health professional and health policy analyst collaborate with public health departments to identify and address healthcare disparities. Utilizing population health management strategies and evidence-based interventions, we develop strategic frameworks for implementation and scalability to improve health outcomes and promote health equity.

我現在想更詳細地談談我們的業務部門。我將從我們的人口健康業務部門開始。在這裡，我們的專家流行病學家、資料科學家、公共衛生專業人員和衛生政策分析師團隊與公共衛生部門合作，確定並解決醫療保健差異。利用人口健康管理策略和實證幹預措施，我們制定實施和可擴展性策略框架，以改善健康結果並促進健康公平。

Population health is experiencing strong growth in the near term with revenues growing 276% in the second quarter alone. In recent months, we have secured contracts across multiple states, including Maine, New Jersey and Wyoming. Among our notable achievements, we successfully delivered a $660,000 contract by providing quality improvement data collection services for a major national peer organization and posted a nearly $0.5 million one-year contract from the Indiana Department of Health where we conducted comprehensive public health and healthcare readiness assessment.

人口健康在短期內經歷了強勁成長，光是第二季營收就成長了 276%。近幾個月來，我們在多個州獲得了合同，包括緬因州、新澤西州和懷俄明州。我們取得的顯著成就包括，透過為一家主要的全國同行組織提供品質改進數據收集服務，成功交付了一份價值66 萬美元的合同，並與印第安納州衛生部簽訂了一份近50 萬美元的一年期合同，我們在該部門進行了全面的公共衛生和醫療保健準備評估。

According to the Grand View Research, the US population health management market size was valued at $20.6 billion in 2021 and is projected to grow at a CAGR of 19.5% through 2030. We are confident that our population health business units will continue to achieve this level of growth.

Grand View Research 的數據顯示，2021 年美國人口健康管理市場規模為 206 億美元，預計到 2030 年將以 19.5% 的複合年增長率成長。我們相信，我們的人口健康業務部門將繼續實現這一成長水準。

Moving on to healthcare workforce, we are excited to report continued organic growth in this business unit by providing on-demand healthcare professionals. Our dedicated healthcare staff ensure that seamless continuity of care is provided, and we address the critical gaps created by healthcare burn out.

轉向醫療保健勞動力，我們很高興地報告該業務部門透過提供按需醫療保健專業人員而持續有機成長。我們敬業的醫療保健人員確保提供無縫連續性的護理，並解決因醫療保健倦怠而造成的關鍵差距。

As we anticipated and highlighted in our last earnings call, healthcare workforce made a robust return to growth in the second quarter, growing by 66% year over year. We are enthusiastic about the strong growth prospects for 2024 fueled by new customers and contract extensions in states such as Arizona, Indiana, North Carolina, Missouri and Virginia.

正如我們在上次財報電話會議中所預期和強調的那樣，醫療保健勞動力在第二季度強勁恢復成長，年增 66%。我們對亞利桑那州、印第安納州、北卡羅來納州、密蘇裡州和維吉尼亞州等州的新客戶和合約延期所推動的 2024 年強勁成長前景充滿信心。

Healthcare workforce remains a cornerstone, delivering reliable and strong cash flow that supports the expansion of our emerging higher-margin business units. In the second quarter, this strength was evident as our other business units grew by 347%, accounting for 28% of total revenue revenue, up from just 13% in the second quarter of 2023.

醫療保健勞動力仍然是基石，提供可靠和強勁的現金流，支持我們新興的高利潤業務部門的擴張。在第二季度，這種優勢顯而易見，我們的其他業務部門成長了 347%，佔總營收的 28%，而 2023 年第二季僅為 13%。

Moving on to digital health. This dynamic business unit is at the forefront of innovation, developing cutting-edge products powered by artificial intelligence that significantly enhance patient education, engagement and satisfaction. The US digital health market valued at approximately $211 billion is projected to grow at an impressive CAGR of 19%.

轉向數位健康。這個充滿活力的業務部門處於創新的前沿，開發由人工智慧驅動的尖端產品，顯著提高病患教育、參與度和滿意度。美國數位醫療市場價值約 2,110 億美元，預計將以 19% 的複合年增長率成長。

In the second quarter, digital health achieved notable success with revenue generated from a four year 2.5 million contract with national payer organization for SyraBot. SyraBot is our advanced, secure and compliant conversational AI driven chatbot designed to be multilingual, empathetic and culturally competent with an extensive healthcare knowledge base. We are optimistic about securing similar contracts with other payer organizations in the near future.

第二季度，數位醫療取得了顯著的成功，SyraBot 與國家支付組織簽訂了為期四年、價值 250 萬美元的合同，產生了收入。SyraBot 是我們先進、安全且合規的對話式人工智慧驅動聊天機器人，旨在支援多種語言、具有同理心和文化能力，並擁有廣泛的醫療保健知識庫。我們對在不久的將來與其他付款組織簽訂類似合約感到樂觀。

Now let's turn to behavior and mental health. This business unit is dedicated to advancing preventative mental healthcare and targeted interventions. According to Precedence Research, the US behavioral health market is projected to approximately reach $132.4 billion by 2027. Syrenity is uniquely positioned to tap into this substantial market, leveraging its comprehensive AI-driven approach to address the growing need for effective mental health solutions.

現在讓我們轉向行為和心理健康。該業務部門致力於推動預防性心理保健和有針對性的干預措施。根據 Precedence Research 的數據，到 2027 年，美國行為健康市場預計將達到約 1,324 億美元。Syrenity 擁有獨特的優勢，可以利用其全面的人工智慧驅動方法來進入這一巨大市場，滿足對有效心理健康解決方案日益增長的需求。

Syrenity is a proprietary healthcare products designed to securely and privately address mental and behavioral health issues while reducing stigma. Engineered to bridge gap left by existing solutions, Syrenity is evidence based and features a unique conversational AI diary that delivers human-like empathy and support. Tailored for use by universities, large employers, payer organization and provider networks, Syrenity is already being utilized by two customers with additional contracts in negotiation with private organization eager to enhance their workforce mental well-being.

Syrenity 是一種專有的醫療保健產品，旨在安全、私密地解決心理和行為健康問題，同時減少恥辱。Syrenity 旨在彌補現有解決方案留下的差距，它以證據為基礎，並具有獨特的對話式人工智慧日記，可提供類似人類的同理心和支持。Syrenity 專為大學、大型雇主、付款組織和提供者網路量身定制，已被兩家客戶使用，並與渴望提高員工心理健康的私人組織談判附加合約。

We are excited to report that the increasing interest in Syrenity highlights its effectiveness in creating healthier, more resilient workplaces. Additionally, Syrenity is currently involved in a recent study focused on measuring user engagement. On the services side of behavioral and mental health, we are witnessing robust demand for a psychological assessments and evaluation across a range of agencies, including police departments, school system and correctional facilities.

我們很高興地報告，人們對 Syrenity 的興趣日益濃厚，突顯了它在創造更健康、更有彈性的工作場所方面的有效性。此外，Syrenity 目前正在參與一項最近的研究，重點是衡量用戶參與度。在行為和心理健康服務方面，我們看到警察部門、學校系統和懲教機構等一系列機構對心理評估和評價的強勁需求。

In May, we proudly announced a contract with the Greenville County School District in South Carolina to provide psychological services to students. Additionally, we secured contracts with the Putnam Northern Westchester Board of Cooperative Educational Services in New York and the Little Rock School District in Arkansas. In these partnership, our board-certified behavior analysts will analyze behavior patterns and develop individualized treatment plans to address specific behavior health issues.

五月，我們很自豪地宣布與南卡羅來納州格林維爾縣學區簽訂合同，為學生提供心理服務。此外，我們也與紐約的普特南北威徹斯特合作教育服務委員會和阿肯色州的小石城學區簽訂了合約。在這些合作關係中，我們經過董事會認證的行為分析師將分析行為模式並制定個人化治療計劃，以解決特定的行為健康問題。

Moving on to health education, our business unit specializes in developing insightful, accurate and compliant medical education and training tailored for both public and private organizations. According to Global Market Insights, the market for health education is valued at approximately 83 billion and is projected to grow at a 10% CAGR.

接下來是健康教育，我們的業務部門專門為公共和私人組織開發有洞察力、準確且合規的醫學教育和培訓。根據 Global Market Insights 的數據，健康教育市場價值約為 830 億美元，預計將以 10% 的複合年增長率成長。

We are excited to highlight a recent $5.8 million contract win with the Indiana Family and Social Services Administration. Over the next four years, we will provide comprehensive health training and certifications to home and community support professionals statewide. This initiative not only meets Indiana's specific training requirements but also instills confidence in the citizens receiving care in their home or community settings.

我們很高興地強調最近與印第安納州家庭和社會服務管理局贏得了 580 萬美元的合約。在接下來的四年中，我們將為全州的家庭和社區支援專業人員提供全面的健康培訓和認證。這項措施不僅滿足印第安納州的具體培訓要求，而且還為在家庭或社區環境中接受照護的公民灌輸了信心。

Our program, which includes the development of a customized curriculum, a state of the art learning platform and a specialized training registry represents a ground-breaking effort by the statel, one of the few in the country to implement such a comprehensive program.

我們的計劃包括客製化課程的開發、最先進的學習平台和專門的培訓註冊中心，代表了國家的突破性努力，國家是全國為數不多的實施此類綜合計劃的國家之一。

Additionally, in Sedgwick County, Kansas, we are delivering overdose data to action, training for first responders and faith-based community organizations equipping them with critical skills to address opioid-related emergencies. Recent months has seen a surge in demand for our training services, and we anticipate expanding these offerings significantly in the near future.

此外，在堪薩斯州塞奇威克縣，我們正在提供過量用藥數據，以採取行動，為急救人員和信仰社區組織提供培訓，讓他們具備解決阿片類藥物相關緊急情況的關鍵技能。近幾個月來，對我們培訓服務的需求激增，我們預計在不久的將來會大幅擴展這些服務。

And finally, I want to highlight our federal government solutions. Starting with a strong foundation in state government contracts, Syra is now well positioned to extend these services to federal agencies. Earlier this year, we were selected as a subcontractor for a significant contract awarded to Caduceus healthcare by the Federal Department of Health and Human Services.

最後，我想強調我們的聯邦政府解決方案。憑藉州政府合約的堅實基礎，Syra 現在已準備好將這些服務擴展到聯邦機構。今年早些時候，我們被聯邦衛生與公眾服務部選為 Caduceus 醫療保健重要合約的分包商。

In May, we announced our role as a subcontractor for a 10-year contract vehicle awarded to LUKE by the Defense Health Agency with the ceiling value of $43 billion for staffing defense agency facilities nationwide. This high impact project positioned Syra for substantial growth and visibility within the federal space.

5 月，我們宣布擔任國防衛生局授予 LUKE 的 10 年期合約車輛的分包商，該合約車輛的最高價值為 430 億美元，用於為全國國防機構設施配備人員。這項影響深遠的計畫使 Syra 在聯邦領域獲得了大幅成長和知名度。

We are actively engaging with these prime contractors and are poised to provide not only healthcare staffing, but also case management services, behavioral health services and education support. With our dedicated federal team in place, we anticipate securing additional federal contracts and furthering our impact in this crucial sector.

我們正在積極與這些主承包商合作，不僅準備提供醫療人員，還提供個案管理服務、行為健康服務和教育支援。憑藉我們專門的聯邦團隊的到位，我們預計將獲得更多聯邦合約並進一步擴大我們在這一關鍵領域的影響力。

With that, let me turn it over to our CFO, Priya Prasad, who will walk through the financial details. Priya?

接下來，讓我將其轉交給我們的財務長 Priya Prasad，她將詳細介紹財務細節。普里亞？

-- Deepika. Let me add my warm welcome to everyone joining us on this call. The financial results for the second quarter are provided in detail within our press release, which we issued earlier this morning and in our 10-Q.

——迪皮卡.請允許我對參加本次電話會議的所有人表示熱烈歡迎。我們今天早上早些時候發布的新聞稿和 10 季度報告中詳細介紹了第二季的財務業績。

Total revenues for the second quarter of 2024 were $2 million compared to $1 million in the second quarter of last year, representing a 101% growth. Growth was driven by our population health, healthcare workforce and digital health business units. I will now go through each business units in detail.

2024 年第二季的總營收為 200 萬美元，而去年第二季的總營收為 100 萬美元，成長 101%。成長是由我們的人口健康、醫療保健勞動力和數位健康業務部門推動的。現在我將詳細介紹每個業務部門。

Within our population health business unit, revenues were $451,000 in the second quarter versus $120,000 in the same period last year, growth of more than 276% driven by a successful implementation of state health department initiatives for our data analytics and evaluation services.

在我們的人口健康業務部門中，第二季的收入為 451,000 美元，而去年同期為 120,000 美元，由於成功實施了州衛生部門針對我們的數據分析和評估服務的舉措，增長了 276% 以上。

Within our healthcare workforce business unit, we have returned to growth in 2024 in the second quarter, posting revenue growth of 66% to $1.4 million. This increase in healthcare workforce revenue was driven by new customer acquisitions and extensions of our existing contracts. Based on contracts on hand, we expect healthcare workforce to continue strong growth in 2024.

在我們的醫療保健勞動力業務部門，我們在 2024 年第二季度恢復了成長，營收成長 66% 至 140 萬美元。醫療保健勞動力收入的成長是由新客戶收購和現有合約延期推動的。根據現有合同，我們預計醫療保健勞動力將在 2024 年繼續強勁成長。

Within our digital health business unit, revenues were $92,000 during the second quarter driven by sales of SyraBot.

在 SyraBot 銷售的推動下，我們的數位健康業務部門第二季營收為 92,000 美元。

Gross profit margins in the second quarter of 2024 was 17.8% compared to 13.1% in the second quarter of 2023. The 468 basis points increase in gross margin was due to the mix shift towards population health, which carries higher margins and increased operational efficiencies.

2024年第二季的毛利率為17.8%，而2023年第二季的毛利率為13.1%。毛利率成長 468 個基點是由於向人口健康方向的組合轉變，這帶來了更高的利潤率和更高的營運效率。

Total operating expenses for the second quarter increased to $1.7 million compared to $912,000 in the second quarter of 2023. This temporary increase was driven by strategic investments in product development and corporate branding to drive future growth. However, we are committed to improving efficiencies and managing these costs more effectively.

第二季的總營運費用增加至 170 萬美元，而 2023 年第二季的營運費用為 91.2 萬美元。這一暫時的成長是由產品開發和企業品牌策略投資推動的，以推動未來的成長。然而，我們致力於提高效率並更有效地管理這些成本。

Starting in the third quarter of 2024, we anticipate a reduction in the operating costs as a result of several key initiatives. We have recently streamlined operations and optimized our workforce leading to improvements in our cost structure. Additionally, we have implemented a 25% reduction in executive pay, which is part of our broader cost savings strategies. These measures are designed to enhance operational efficiencies and ensure that we continue to operate within a disciplined financial framework.

從 2024 年第三季開始，我們預計透過多項關鍵舉措，營運成本將會降低。我們最近簡化了營運並優化了我們的員工隊伍，從而改善了我們的成本結構。此外，我們還削減了 25% 的高階主管薪酬，這是我們更廣泛的成本節約策略的一部分。這些措施旨在提高營運效率，並確保我們繼續在嚴格的財務框架內營運。

Salaries and benefits expenses increased 51% year over year due to increased operations and added office personnel to support our growth. Professional fees increased 10% year over year due to increased legal and other professional costs related to regulatory filings.

由於業務增加和辦公室人員增加以支持我們的成長，薪資和福利費用年增 51%。由於與監管備案相關的法律和其他專業成本增加，專業費用年增 10%。

Selling, general and administrative expenses increased 110% year over year due to increased operations. Research and development expenses were $277,000, reflecting a development of our technology-based solutions. Depreciation expenses was $13,000 in the second quarter of 2024, reflecting expanded office space.

由於業務增加，銷售、一般和管理費用年增 110%。研發費用為 277,000 美元，反映了我們基於技術的解決方案的開發。2024 年第二季的折舊費用為 13,000 美元，反映了辦公空間的擴大。

The net loss was $1.4 million for the second quarter compared to a loss of $803,000 in the same period last year. This increase reflects our heightened investments in business growth and the additional public company expenses that were not present in quarter two of 2023.

第二季淨虧損為 140 萬美元，去年同期淨虧損為 803,000 美元。這一成長反映了我們對業務成長的投資增加以及 2023 年第二季不存在的額外上市公司費用。

Adjusted EBITDA for the quarter was negative $1.37 million compared to a negative $772,000 in the second quarter of 2023. Again, full reconciliations are provided in the tables included in today's press release. Our cash balance as of June 30, 2024 was $1.6 million.

本季調整後 EBITDA 為負 137 萬美元，而 2023 年第二季為負 772,000 美元。今天的新聞稿中的表格再次提供了完整的調節結果。截至 2024 年 6 月 30 日，我們的現金餘額為 160 萬美元。

With that, let me turn the call back over to Deepika.

接下來，讓我把電話轉回迪皮卡。

Thank you, Priya. The remarkable growth we achieved in the second quarter energizes us and highlights the exciting opportunities ahead. As we strive to become a leader in healthcare solutions and achieve profitability, we are leveraging our successful implementation of high-profile state projects across the nation into new geographic areas.

謝謝你，普里亞。我們在第二季度取得的顯著成長讓我們充滿活力，並凸顯了未來令人興奮的機會。在我們努力成為醫療保健解決方案的領導者並實現盈利的過程中，我們正在利用我們在全國範圍內成功實施的備受矚目的國家項目進入新的地理區域。

Our expansion is driven by the expertise of our experienced team, top talent and inherent healthcare specialists, as well as the integration of AI technology into our services and products, all of which enhance our ability to drive further growth and impact.

我們經驗豐富的團隊、頂尖人才和固有的醫療保健專家的專業知識以及人工智慧技術與我們的服務和產品的整合推動了我們的擴張，所有這些都增強了我們推動進一步成長和影響的能力。

We are fortunate to have a strong legacy in our healthcare workforce business, which provides us with the cash flows necessary to invest strategically in Syra's growth areas. This includes scaling higher-margin, recurring revenue products like our AI-driven Syrenity, and services like population health and digital health.

我們很幸運，在醫療保健勞動力業務方面擁有悠久的歷史，這為我們提供了對 Syra 成長領域進行策略性投資所需的現金流。這包括擴大利潤率較高的經常性收入產品（例如由人工智慧驅動的 Syrenity），以及人口健康和數位健康等服務。

Syrenity in particular holds tremendous potential in the mental health space, offering innovative solutions to address long-standing challenges. We are committed to unlocking this potential and expanding its impact. Additionally, we are strategically positioning us to tap into federal initiatives across multiple domains, including education and training, public health initiatives, case management solutions and medical personnel staffing. By aligning these federal opportunities, we aim to amplify our influence and drive significant growth.

Syrenity 在心理健康領域尤其具有巨大潛力，提供創新解決方案來應對長期存在的挑戰。我們致力於釋放這一潛力並擴大其影響力。此外，我們的策略定位是利用跨多個領域的聯邦舉措，包括教育和培訓、公共衛生舉措、個案管理解決方案和醫務人員配備。透過調整這些聯邦機會，我們的目標是擴大我們的影響力並推動顯著成長。

We are dedicated to achieving profitability by enhancing our operational efficiencies through process optimization, automation and cutting edge technology adoption. The future is bright, and we are fully committed to capitalizing on our growth momentum and driving success.

我們致力於透過流程優化、自動化和採用尖端技術來提高營運效率，從而實現盈利。未來是光明的，我們完全致力於利用我們的成長勢頭並取得成功。

I appreciate everyone's participation on the call today, and I will now be happy to answer any questions. Christine?

我感謝大家今天參加電話會議，我現在很樂意回答任何問題。克里斯汀？

Thank you to the management team. We have some questions for you. Deepika, can you provide any updates on Syrenity?

感謝管理團隊。我們有一些問題想問你。Deepika，您能提供任何有關 Syrenity 的更新嗎？

Yeah, definitely. Syrenity is our comprehensive evidence based mental health solution featuring a conversational AI guiding designed to deliver human-like empathy and support. It includes interventions such as educational resources and cognitive behavior therapy and seamlessly integrates with Telehealth for additional treatment if necessary.

是的，絕對是。Syrenity 是我們基於證據的全面心理健康解決方案，具有對話式人工智慧指導，旨在提供類似人類的同理心和支持。它包括教育資源和認知行為治療等乾預措施，並與遠距醫療無縫集成，以在必要時提供額外治療。

Currently, two employers are successfully using Syrenity and providing positive feedback on its effectiveness. Syrenity also boasts an exciting innovative AI roadmap that enhances user experience while ensuring clinical relevance and adherence to evidence-based practices.

目前，已有兩家雇主成功使用 Syrenity 並對其有效性提供了積極的回饋。Syrenity 還擁有令人興奮的創新人工智慧路線圖，可增強使用者體驗，同時確保臨床相關性和遵守實證實踐。

We are actively negotiating contracts with several private organizations interested in leveraging Syrenity to support the mental well-being of their workforce. We anticipate sharing more exciting updates about Syrenity in the coming quarters.

我們正在積極與一些有興趣利用 Syrenity 來支持其員工心理健康的私人組織洽談合約。我們預計在未來幾季分享有關 Syrenity 的更多令人興奮的更新。

Thank you. Do you have any updates on the two federal contracts that you are subcontractors on?

謝謝。您是否有關於您作為分包商的兩份聯邦合約的最新情況？

Yeah. We are seeing positive developments with both, Caduceus and LUKE, on the contract vehicles with ceiling values of $75 billion and $43 billion, respectively. Our interactions with these partners remains strong and we are well positioned to contribute significantly to these high-profile projects.

是的。我們看到 Caduceus 和 LUKE 在合約工具方面取得了積極進展，其上限分別為 750 億美元和 430 億美元。我們與這些合作夥伴的互動依然密切，我們有能力為這些備受矚目的專案做出重大貢獻。

The revenue for Syra will be determined based on the task orders issued by the federal agencies. We are optimistic about receiving initial task orders in 2024, and we are prepared to leverage these opportunities to further expand our impact and capabilities in the federal sector.

Syra 的收入將根據聯邦機構發布的任務指令確定。我們對 2024 年收到初步任務訂單感到樂觀，並準備好利用這些機會進一步擴大我們在聯邦部門的影響力和能力。

Great. Thank you. Can you speak about the increase in G&A in the second quarter and how you see those costs decreasing going forward, Priya?

偉大的。謝謝。Priya，您能談談第二季一般行政費用的增加以及您如何看待這些成本未來的下降嗎？

Thank you, Christine. I'll take that. Starting in the third quarter of 2024, we anticipate a reduction in our operating expenses as a result of several key initiatives. Recently, we've streamlined our operations and optimized our workforce leading to significant improvements in our cost structure.

謝謝你，克里斯汀。我會接受的。從 2024 年第三季開始，我們預計由於多項關鍵舉措，我們的營運費用將會減少。最近，我們簡化了營運並優化了員工隊伍，從而顯著改善了我們的成本結構。

Additionally, we have implemented a 25% reduction in executive pay, which is part of our broader cost savings strategies. These measures are designed to enhance operational efficiency and ensure that we can continue to operate within a disciplined financial framework, ultimately leading to a decrease in our general and administrative expenses.

此外，我們還削減了 25% 的高階主管薪酬，這是我們更廣泛的成本節約策略的一部分。這些措施旨在提高營運效率，並確保我們能夠繼續在嚴格的財務框架內運營，最終減少我們的一般和行政費用。

And what does the contract pipeline look like and where do you expect growth in the coming quarters? Deepika?

合約管道是什麼樣的？迪皮卡？

Yeah. Our private sector pipeline is expanding rapidly with strong interest in Syrenity, our innovative mental health product, and Syrenity has exceptional potential to revolutionize mental health care and we are dedicated to maximizing its impact.

是的。我們的私部門管道正在迅速擴大，對我們的創新精神健康產品 Syrenity 產生了濃厚的興趣，Syrenity 具有徹底改變精神健康保健的巨大潛力，我們致力於最大限度地發揮其影響。

We are also strategically focusing on federal contracts either as a prime vendor or through joint ventures and plan to replicate our successful state projects nationwide. Additionally, we are targeting federal opportunities in education, public health, case management and staffing to drive potential growth and enhance our influence.

我們也策略性地將重點放在作為主要供應商或透過合資企業的聯邦合約上，並計劃在全國範圍內複製我們成功的州項目。此外，我們還瞄準了教育、公共衛生、案件管理和人員配置的聯邦機會，以推動潛在成長並增強我們的影響力。

Thank you. It looks like we are out of time. My thanks to everyone for participating in today's call, and we look forward to speaking with all of you again soon.

謝謝。看來我們已經沒時間了。我感謝大家參加今天的電話會議，我們期待很快能再次與大家交談。