SRTA

MKT CAP:$426M

Strata Critical Medical, Inc.

Market Cap

$426M

Industrials·Airlines, Airports & Air Services·🇺🇸 United States·NASDAQ

Industrials·Airlines,·🇺🇸·NASDAQ

Stock Price

$4.88-$0.04 (-0.91%)

Apr 23, 2026

Company Details

Strata Critical Medical, Inc. provides time critical logistics solutions and specialized medical services to healthcare providers across the United States. The company operates as both an air and ground transporter of human organs for trans...

CEO

Melissa Tomkiel

IPO Date

Nov 5, 2019

Website

www.stratacritical.com

Key Metrics TTM

Revenue

$202M

-16.4% YoY

Net Income

-$26M

EPS (Diluted)

-$0.32

Free Cash Flow

-$30M

Revenue / Share

$2.45

Gross Margin

20.8%

Operating Margin

-12.4%

Net Margin

-12.8%

FCF Margin

-14.8%

P/S

2.1x

P/E

—

Earnings Reports

Q1 2026

May 11, 2026

PENDING

FY 2025

Mar 3, 2026

$197M-20.7%EPS $0.50

Q4 2025

Mar 3, 2026

$23M-58.2%EPS -$0.11

Q2 2025

Aug 5, 2025

$71M+4.2%EPS -$0.05

Q1 2025

May 12, 2025

$54M+5.4%EPS -$0.04

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q2 21	$13M	$3M	-$8M
Q4 21	$25M	$4M	-$11M
Q3 21	$20M	$5M	-$10M
Q3 22	$46M	$9M	-$10M
Q4 22	$38M	$5M	-$20M
Q1 23	$45M	$7M	-$13M
Q2 23	$61M	$10M	-$12M
Q3 23	$71M	$16M	-$7M
Q4 23	$47M	$9M	-$36M
Q1 24	$52M	$10M	-$10M
Q2 24	$68M	$16M	-$12M
Q3 24	$75M	$20M	-$4M
Q4 24	$54M	$13M	-$8M
Q1 25	$54M	$12M	-$8M
Q2 25	$71M	$18M	-$5M
Q4 25	$23M	-$203.0K	-$4M

Valuation

Quarter	P/S	P/E
Q2 21	14.6x	—
Q4 21	9.4x	—
Q3 21	7.4x	—
Q3 22	4.1x	—
Q4 22	3.3x	—
Q1 23	2.9x	—
Q2 23	2.2x	—
Q3 23	2.0x	—
Q4 23	1.9x	—
Q1 24	1.8x	—
Q2 24	1.8x	—
Q3 24	1.8x	—
Q4 24	1.7x	—
Q1 25	1.7x	—
Q2 25	1.7x	—
Q4 25	2.1x	—

Operating Cash Flow

Quarter	Operating CF	Free CF
Q2 21	-$9.5K	-$9.7K
Q4 21	-$6M	-$6M
Q3 21	-$6M	-$6M
Q3 22	-$7M	-$7M
Q4 22	-$8M	-$8M
Q1 23	-$17M	-$18M
Q2 23	-$8M	-$9M
Q3 23	$2M	$1M
Q4 23	-$9M	-$9M
Q1 24	-$16M	-$17M
Q2 24	$7M	-$9M
Q3 24	$6M	-$4M
Q4 24	$13.0K	-$5M
Q1 25	-$5M	-$8M
Q2 25	-$4M	-$7M
Q4 25	-$8M	-$10M

Capital Expenditures

Quarter	CapEx
Q2 21	$230
Q4 21	$224.0K
Q3 21	$67.0K
Q3 22	$93.0K
Q4 22	$11.0K
Q1 23	$646.0K
Q2 23	$744.0K
Q3 23	$695.0K
Q4 23	$24.0K
Q1 24	$1M
Q2 24	$17M
Q3 24	$10M
Q4 24	$5M
Q1 25	$3M
Q2 25	$3M
Q4 25	$2M

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q2 21	+276.7%	+321.7%
Q4 21	+195.9%	+288.4%
Q3 21	+154.4%	+190.2%
Q3 22	—	+23782.1%
Q4 22	+194.5%	+179.0%
Q1 23	+83.9%	+65.3%
Q2 23	+200.2%	+143.6%
Q3 23	+56.3%	+40.5%
Q4 23	+24.5%	+43.8%
Q1 24	+13.8%	+5.7%
Q2 24	+11.4%	+9.4%
Q3 24	+4.8%	-0.6%
Q4 24	+14.5%	-24.5%
Q1 25	+5.4%	+0.8%
Q2 25	+4.2%	-5.4%
Q4 25	-69.6%	-65.7%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q2 21	$5.7K	0.0%
Q4 21	$3M	11.9%
Q3 21	$0	0.0%
Q3 22	$0	0.0%
Q4 22	$0	0.0%
Q1 23	$3M	7.1%
Q2 23	$3M	4.6%
Q3 23	$0	0.0%
Q4 23	$9M	19.4%
Q1 24	$0	0.0%
Q2 24	$0	0.0%
Q3 24	$5M	7.2%
Q4 24	$0	0.0%
Q1 25	$0	0.0%
Q2 25	$0	0.0%
Q4 25	$7M	29.0%

OpEx Breakdown

Quarter	R&D	G&A	S&M	SG&A
Q2 21	$213.0K	$10M	$790.0K	—
Q4 21	$649.0K	$12M	$2M	—
Q3 21	$959.0K	$12M	$1M	—
Q3 22	$2M	$16M	$2M	—
Q4 22	$2M	$21M	$2M	—
Q1 23	$1M	$16M	$3M	—
Q2 23	$1M	$18M	$3M	—
Q3 23	$1M	$19M	$3M	—
Q4 23	$988.0K	$41M	$2M	—
Q1 24	$670.0K	$17M	$2M	—
Q2 24	$971.0K	$25M	$2M	—
Q3 24	$800.0K	$20M	$2M	—
Q4 24	$743.0K	$19M	$1M	—
Q1 25	$812.0K	$17M	$1M	—
Q2 25	$915.0K	$20M	$2M	—
Q4 25	$2M	—	—	$19M

Revenue Segments

Quarter	Medimobility Organ Transport And Jet	Other Service	Short Distance	Medical Segment	Passenger Segment
Q2 21	$7M	$730.0K	$6M	—	—
Q1 23	—	—	—	$27M	$19M
Q2 23	—	—	—	$34M	$27M
Q3 23	—	—	—	$33M	$38M
Q4 23	—	—	—	$32M	$15M
Q1 24	—	—	—	$36M	$15M
Q2 24	—	—	—	$38M	$30M
Q3 24	—	—	—	$36M	$39M
Q4 24	—	—	—	$36M	$18M
Q1 25	—	—	—	$36M	$18M
Q2 25	—	—	—	$45M	$26M

Revenue by Geography

Quarter	Non-US	United States
Q1 23	$7M	$38M
Q2 23	$9M	$52M
Q3 23	$13M	$59M
Q4 23	$5M	$42M
Q1 24	$6M	$45M
Q2 24	$10M	$58M
Q3 24	$12M	$63M
Q4 24	$2M	$52M
Q1 25	$6M	$48M
Q2 25	$8M	$62M

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$2M	$267M	$269M
Q2 22	$187M	$70M	$256M
Q3 22	$52M	$150M	$202M
Q4 22	$41M	$151M	$192M
Q1 23	$42M	$135M	$177M
Q2 23	$37M	$132M	$170M
Q3 23	$37M	$136M	$173M
Q4 23	$28M	$138M	$166M
Q1 24	$37M	$114M	$151M
Q2 24	$26M	$116M	$142M
Q3 24	$20M	$116M	$136M
Q4 24	$18M	$109M	$127M
Q1 25	$35M	$85M	$120M
Q2 25	$59M	$55M	$113M
Q3 25	$23M	$53M	$76M
Q4 25	$31M	$30M	$61M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q2 21	73M	+6.1%	+794.4%
Q4 21	78M	+5.8%	+845.3%
Q3 21	70M	-9.8%	+71.5%
Q3 22	71M	+2.0%	+3.3%
Q4 22	72M	+0.3%	-2.4%
Q1 23	72M	+0.5%	-7.3%
Q2 23	73M	+1.6%	+4.4%
Q3 23	81M	+10.7%	+13.4%
Q4 23	75M	-7.8%	+4.2%
Q1 24	76M	+1.5%	+5.3%
Q2 24	78M	+3.0%	+6.7%
Q3 24	78M	0.0%	-3.7%
Q4 24	79M	+1.8%	+6.4%
Q1 25	80M	+0.6%	+5.4%
Q2 25	81M	+1.8%	+4.2%
Q4 25	82M	+1.4%	+5.7%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q2 21	$6M	2
Q4 21	$185.1K	133
Q3 21	$152.8K	133
Q3 22	$343.8K	133
Q4 22	$155.0K	246
Q1 23	$184.0K	246
Q2 23	$247.9K	246
Q3 23	$290.4K	246
Q4 23	$205.5K	231
Q1 24	$223.0K	231
Q2 24	$294.1K	231
Q3 24	$324.1K	231
Q4 24	$168.8K	322
Q1 25	$168.7K	322
Q2 25	$219.9K	322
Q4 25	$37.8K	601

Revenue / Employee