ICU

MKT CAP:$12M

SeaStar Medical Holding Corporation

Market Cap

$12M

Healthcare·Biotechnology·🇺🇸 United States·NASDAQ

Healthcare·Biotechnology·🇺🇸·NASDAQ

Stock Price

$4.24+$1.61 (+61.22%)

Apr 23, 2026

Company Details

SeaStar Medical Holding Corporation, a medical device company, focuses on providing novel solutions and services to treat hyperinflammation and cytokine storm in critically ill patients. The company is developing and commercializing extraco...

CEO

Eric Schlorff

IPO Date

Mar 18, 2021

Website

www.seastarmedical.com

Key Metrics TTM

Revenue

$1M

+814.1% YoY

Net Income

-$12M

EPS (Diluted)

-$7.60

Free Cash Flow

-$14M

Revenue / Share

$0.06

Gross Margin

95.7%

Operating Margin

-986.6%

Net Margin

-984.6%

FCF Margin

-1102.0%

P/S

9.4x

P/E

—

Earnings Reports

Q1 2026

May 13, 2026

PENDING

FY 2025

Mar 25, 2026

$1M+814.1%EPS -$5.86

Q4 2025

Mar 25, 2026

$420.0K+526.9%EPS -$0.80

Q3 2025

Nov 13, 2025

$183.0K+169.1%EPS -$1.30

Q2 2025

Aug 13, 2025

$338.0KEPS -$1.10

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q1 21	$0	$0	-$1M
Q2 21	$0	$0	-$1M
Q1 22	$0	$0	-$812.0K
Q2 22	$0	$0	-$1M
Q3 22	$0	$0	-$2M
Q1 23	$0	$0	-$5M
Q2 23	$0	$0	-$4M
Q4 23	$0	$0	-$3M
Q1 24	$0	$0	-$4M
Q2 24	$0	$0	-$5M
Q3 24	$68.0K	$68.0K	-$4M
Q4 24	$67.0K	$67.0K	-$5M
Q1 25	$293.0K	$293.0K	-$4M
Q2 25	$338.0K	$311.0K	-$2M
Q3 25	$183.0K	$169.0K	-$4M
Q4 25	$420.0K	$408.0K	-$3M

Valuation

Quarter	P/S	P/E
Q1 21	—	—
Q2 21	—	—
Q1 22	—	—
Q2 22	—	—
Q3 22	—	—
Q1 23	—	—
Q2 23	—	—
Q4 23	—	—
Q1 24	—	—
Q2 24	—	—
Q3 24	3082.2x	—
Q4 24	728.9x	—
Q1 25	679.0x	—
Q2 25	146.8x	—
Q3 25	179.8x	—
Q4 25	49.6x	—

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 21	-$2M	-$2M
Q2 21	-$959.0K	-$959.0K
Q1 22	-$587.0K	-$587.0K
Q2 22	-$991.0K	-$991.0K
Q3 22	-$914.0K	-$914.0K
Q1 23	-$2M	-$2M
Q2 23	-$2M	-$2M
Q4 23	-$4M	-$4M
Q1 24	-$3M	-$3M
Q2 24	-$3M	-$3M
Q3 24	-$5M	-$5M
Q4 24	-$5M	-$5M
Q1 25	-$3M	-$3M
Q2 25	-$3M	-$3M
Q3 25	-$4M	-$4M
Q4 25	-$4M	-$4M

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q2 22	—	+24957.3%
Q3 22	—	+66.6%
Q1 23	—	+285.6%
Q2 23	—	+361.8%
Q4 23	—	+124.3%
Q1 24	—	+123.3%
Q2 24	—	+1.9%
Q3 24	—	+20.6%
Q4 24	—	+64.3%
Q1 25	—	+4.2%
Q2 25	—	-55.2%
Q3 25	+169.1%	-16.8%
Q4 25	+526.9%	-28.9%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 21	$3.0K	—
Q2 21	$3.0K	—
Q1 22	$4.0K	—
Q2 22	$345.0K	—
Q3 22	$357.0K	—
Q1 23	$505.0K	—
Q2 23	$555.0K	—
Q4 23	$386.0K	—
Q1 24	$434.0K	—
Q2 24	$41.0K	—
Q3 24	$200.0K	294.1%
Q4 24	$212.0K	316.4%
Q1 25	$167.0K	57.0%
Q2 25	$97.0K	28.7%
Q3 25	$290.0K	158.5%
Q4 25	$70.0K	16.7%

OpEx Breakdown

Quarter	R&D	G&A	S&M
Q1 21	$746.0K	$316.0K	—
Q2 21	$536.0K	$652.0K	—
Q1 22	$355.0K	$457.0K	—
Q2 22	$596.0K	$716.0K	—
Q3 22	$727.0K	$1M	—
Q1 23	$2M	$3M	—
Q2 23	$2M	$2M	—
Q4 23	$1M	$2M	$32.0K
Q1 24	$2M	$2M	—
Q2 24	$2M	$2M	—
Q3 24	$2M	$2M	—
Q4 24	$3M	$2M	—
Q1 25	$2M	$2M	—
Q2 25	$1M	$1M	—
Q3 25	$2M	$2M	—
Q4 25	$2M	$1M	—

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$207.0K	$0	$207.0K
Q2 22	$613.0K	$0	$613.0K
Q3 22	$49.0K	$0	$49.0K
Q4 22	$47.0K	$0	$47.0K
Q1 23	$725.0K	$0	$725.0K
Q2 23	$13.0K	$0	$13.0K
Q3 23	$73.0K	$0	$73.0K
Q4 23	$176.0K	$0	$176.0K
Q1 24	$5M	$0	$5M
Q2 24	$1M	$0	$1M
Q3 24	$2M	$0	$2M
Q4 24	$2M	$0	$2M
Q1 25	$5M	$0	$5M
Q2 25	$6M	$0	$6M
Q3 25	$14M	$0	$14M
Q4 25	$12M	$0	$12M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q1 21	52K	0.0%	—
Q2 21	51K	-2.6%	—
Q1 22	52K	+2.6%	—
Q2 22	52K	0.0%	-0.1%
Q3 22	52K	0.0%	-0.1%
Q1 23	52K	-0.1%	+2.6%
Q2 23	60K	+14.6%	+14.6%
Q4 23	190K	+218.9%	+265.3%
Q1 24	268K	+40.9%	+414.9%
Q2 24	315K	+17.5%	+505.5%
Q3 24	409K	+29.5%	+584.2%
Q4 24	492K	+20.4%	+158.3%
Q1 25	862K	+75.2%	+221.1%
Q2 25	2M	+103.1%	+454.9%
Q3 25	3M	+50.8%	+545.8%
Q4 25	21M	+685.5%	+4113.6%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q1 21	—	—
Q2 21	—	—
Q1 22	—	—
Q2 22	—	—
Q3 22	—	—
Q1 23	$0	9
Q2 23	$0	9
Q4 23	$0	12
Q1 24	$0	12
Q2 24	$0	12
Q3 24	$5.7K	12
Q4 24	$3.5K	19
Q1 25	$15.4K	19
Q2 25	$17.8K	19
Q3 25	$9.6K	19
Q4 25	$2	200K

Revenue / Employee