Note 3 – Revenue

Disaggregated Revenue

Disaggregated revenue by product line and segment was as follows:




	For the Years Ended
	December 31, 2024		December 31, 2023
Passenger Segment

Short Distance	$	72,203	$	70,700
Jet and Other	29,673		27,876
Total	$	101,876	$	98,576

Medical Segment
MediMobility Organ Transport	$	146,817	$	126,604
Total	$	146,817	$	126,604

Total Revenue	$	248,693	$	225,180

Contract Liabilities

Contract liabilities are defined as entity’s obligation to transfer goods or services to a customer for which the entity has received consideration (or the amount is due) from the customer. As of December 31, 2024 and 2023, the Company’s contract liability balance is $6,656 and $6,845 respectively, and is recorded as deferred revenue on the consolidated balance sheets. This balance consists of payments from customers received in advance of the actual flight, prepaid monthly and annual flight passes, customer credits for flight reservations that were cancelled for good reason by the customer, and prepaid gift card obligations. Customers have one year to use the credit as payment for a future flight with the Company.

The table below presents a roll forward of the contract liability balance:


	For the Years Ended

	December 31, 2024		December 31, 2023
Balance, beginning of period	$	6,845	$	6,709
Additions	78,201		69,792
Revenue recognized	(78,390)		(69,656)
Balance, end of period	$	6,656	$	6,845

For the year ended December 31, 2024, the Company recognized $4,871 of revenue that was included in the contract liability balance as of January 1, 2024. For the year ended December 31, 2023, the Company recognized $5,836 of revenue that was included in the contract liability balance as of January 1, 2023.

About Revenue Disclosures

Revenue disclosures under ASC 606 explain how a company identifies performance obligations, allocates transaction prices, and determines when revenue is recognized. This section is essential for understanding whether reported revenue reflects genuine economic activity or aggressive accounting choices. Analysts examine the mix of point-in-time versus over-time recognition, which directly affects revenue timing and comparability.

Key signals: rising contract liabilities (deferred revenue) suggest strong future revenue visibility, while declining contract assets may indicate slowing project milestones. Watch for variable consideration estimates — rebates, returns, and performance bonuses that require management judgment. Significant changes in disaggregated revenue by geography or product line can reveal shifting business mix before it appears in headline numbers. Compare revenue growth against contract liability growth to assess sustainability, and scrutinize any changes in the timing of recognition that coincide with earnings pressure.

Strata Critical Medical, Inc. Revenue Disclosure

About Revenue Disclosures

Other Available Disclosures