Strata Critical Medical, Inc.

Listed Company

SRTACIK 0001779128NasdaqAcceleratedServices-Health ServicesDelawareFY ends Dec 31

Period

FY 2025

Revenue

$197.14M

Net Income

$41.35M

Total Assets

$325.47M

Equity

$279.07M

Shares Out

86.99M

Op. Cash Flow

$-48.91M

Business

Strata Critical Medical, Inc. provides air transportation and logistics services that arrange passenger flights and transport of human organs for transplant, operating an asset-light platform that coordinates third-party aircraft and select owned aircraft. It offers short-distance helicopter and amphibious seaplane flights, non-medical jet charters and ground connections, MediMobility organ transport, donor logistics coordination, and Trinity Organ Placement Services (TOPS). The company operates through Passenger and Medical segments with product lines for Short Distance, Jet and Other, and organ transport/TOPS. Services are delivered primarily in the Northeast United States and Southern Europe via exclusive passenger terminals, a customer-facing app and web platform, and a network of third-party operators.

Summary from filing dated 2025-03-13

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-09-30
Revenue	197	147	225	146	51
Cost of revenue	156	117	183	124	40
Gross Profit	41	30	—	—	—
Selling, general and administrative	61	51	—	—	—
Amortization of intangible assets	3	1	—	—	—
Total operating expenses	63	52	—	—	—
Operating loss from continuing operations	−22	−23	−68	−54	−24
Interest income	4	7	8	—	—
Change in fair value of warrant liabilities	4	−850,000	2	24	−18
Change in fair value of assets and other liabilities	−1	0	—	—	—
Realized loss from sales of short-term investments	−5	0	8,000	−2	0
Total other non-operating income	2	6	11	25	−20
Loss from continuing operations before income taxes	−20	−16	−58	−28	−44
Income tax expense from continuing operations	0	0	−1	−772,000	−4
Net loss from continuing operations	−20	−16	—	—	—
Net income (loss) from discontinued operations	61	−11	—	—	—
Net income (loss)	41	−27	−56	−27	−40
Continuing operations, basic (in dollars per share)	−0.24	−0.21	—	—	—
Continuing operations , diluted (in dollars per share)	−0.24	−0.21	—	—	—
Discontinued operations, basic (in dollars per share)	0.75	−0.14	—	—	—
Discontinued operations, diluted (in dollars per share)	0.75	−0.14	—	—	—
Total basic earnings (loss) per share (in dollars per share)	0.5	−0.35	−0.76	−0.38	−0.93
Total diluted earnings (loss) per share (in dollars per share)	0.5	−0.35	−0.76	−0.38	−0.93
Basic (in shares)	82	77	74	71	43
Diluted (in shares)	82	77	74	71	43

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	31	16	—	—	—
Restricted cash	264,000	263,000	1	3	630,000
Accounts receivable, net of allowance of $1,066 and $ at December 31, 2025 and December 31, 2024, respectively	40	20	21	11	6
Short-term investments	30	109	138	151	279
Prepaid expenses and other current assets	25	5	18	12	7
Current assets of discontinued operations	0	11	—	—	—
Total current assets	126	161	206	218	295
Property and equipment, net	36	28	3	2	2
Intangible assets, net	48	8	21	46	24
Goodwill	88	16	13	39	13
Operating right-of-use asset	3	3	23	18	713,000
Other non-current assets	24	118,000	1	1	232,000
Non current assets of discontinued operations	0	41	—	—	—
Total assets	325	257	295	325	336
Accounts payable and accrued expenses	19	9	24	17	6
Operating lease liability, current	652,000	682,000	5	3	438,000
Current liabilities of discontinued operations	0	13	—	—	—
Total current liabilities	20	23	35	27	13
Warrant liability	2	6	5	7	31
Operating lease liability, long-term	3	2	20	15	278,000
Deferred tax liability	348,000	0	451,000	2	144,000
Other non-current liabilities	22	0	—	—	—
Non-current liabilities of discontinued operations	0	4	—	—	—
Total liabilities	46	35	61	51	45
Commitments and Contingencies (Note 14)	—	—	—	—	—
Preferred stock, $0.0001 par value, 2,000,000 shares authorized; no shares issued and outstanding at December 31, 2025 and December 31, 2024, respectively	0	0	0	0	0
Common stock, $0.0001 par value; 400,000,000 authorized; 86,702,183 and 79,419,028 shares issued at December 31, 2025 and December 31, 2024, respectively	7,000	7,000	7,000	7,000	7,000
Additional paid in capital	425	407	390	376	369
Accumulated other comprehensive income	0	2	4	2	−898,000
Accumulated deficit	−146	−187	−160	−104	−76
Total stockholders' equity	279	222	234	274	291
Total liabilities and stockholders' equity	325	257	295	325	336

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-09-30
Gain on sale of business	−57	0	—	—	—
Depreciation and amortization	8	6	7	6	596,000
Stock-based compensation	18	20	13	8	10
Excess of lease liability over operating right-of-use assets	0	−123,000	0	—	—
Transaction costs paid related to sale of business	−7	0	—	—	—
Gain on lease modification	0	−622,000	0	—	—
Acquisition consideration allocated to seller transaction expenses	−44	0	—	—	—
Impairment of intangible assets	0	6	—	—	—
Impairment of property and equipment	2	0	—	—	—
Realized foreign exchange gain	−798,000	0	—	—	—
Accretion of interest income on held-to-maturity securities	−2	−4	−7	−1	0
Deferred tax expense (benefit)	432,000	−255,000	−1	−772,000	−4
Other	471,000	323,000	46,000	—	—
Prepaid expenses and other current assets	−2	6	−6	−5	−4
Accounts receivable	−12	−998,000	−10	−5	−414,000
Other non-current assets	666,000	−70,000	4,000	−663,000	−119,000
Operating right-of-use assets/lease liabilities	−88,000	164,000	379,000	611,000	3,000
Accounts payable and accrued expenses	2	−8	9	10	2
Deferred revenue	2	−119,000	117,000	737,000	681,000
Net cash used in operating activities	−49	−3	−32	−37	−16
Acquisitions, net of cash acquired	−67	−2	0	−48	−23
Cash transfer from sale of business	−3	0	—	—	—
Capitalized software development costs	−1	−2	0	0	0
Purchase of property and equipment, net of proceeds from disposal	−10	−31	−2	−730,000	−297,000
Purchase of held-to-maturity investments	−146	−143	−266	−227	0
Proceeds from maturities of held-to-maturity investments	226	177	265	98	0
Proceeds from sale of short-term investments	70	0	21	258	11
Net cash provided by / (used in) investing activities (includes discontinued operations; see Note 5)	70	−1	17	79	−321
Proceeds from the exercise of common stock options	193,000	168,000	70,000	87,000	144,000
Taxes paid related to net share settlement of equity awards	−9	−6	−146,000	−1	−52,000
Repurchase and retirement of common stock	0	−244,000	0	—	—
Net cash used in financing activities	−9	−6	−76,000	−1	332
Effect of foreign exchange rate changes on cash balances	−339,000	−80,000	−66,000	72,000	0
Net increase (decrease) in cash and cash equivalents and restricted cash	12	−9	−15	41	−5
Income Taxes paid	87,000	0	16,000	0	0
Common stock received for sale of business	75	0	—	—	—
Contingent consideration and indemnity holdback receivable from sale of business in prepaids and other current assets and other non-current assets, respectively	36	0	—	—	—
New leases under ASC 842 entered into during the period	2	8	10	6	13,000
Contingent consideration in accounts payable and accrued expenses and other non-current liabilities	9	0	—	—	—
Common stock issued for acquisition	8	0	—	—	—
Purchases of property and equipment and capitalized software in accounts payable and accrued expenses	128,000	375,000	0	—	—
"Modification of existing right-of-use assets (""ROU"") and lease liability"	0	13	0	—	—
Derecognition of ROU assets and lease liability	0	−6	0	—	—
Common stock issued for settlement of earn-out previously in accounts payable and accrued expenses	0	3	2	—	—

Filings

Filing historySign up free to browse every 10-K, 10-Q, 8-K, and proxy this filer has submitted to the SEC.Sign up free · Upgrade to Pro

Material Events

Material EventsTrack every 8-K filing and material event — AI-summarized, timelined, and alertable.Sign up free · Upgrade to Pro

Insiders

Insider ActivitySee executive buy/sell windows and insider trade activity over rolling 30/90/365-day windows.Sign up free · Upgrade to Pro

Institutional Holders

Institutional HoldersSee which funds hold this stock and track position changes quarter over quarter.Sign up free · Upgrade to Pro