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Strata Critical Medical, Inc. provides time-critical logistics and medical services to the healthcare industry in the United States. It operates in two segments, Logistics and Clinical. The company offers logistics services, such as air and ground transportation for human organs, transplant teams, and related medical materials and organ placement services; transplant clinical services, including organ recovery procedures, normothermic regional perfusion, and preservation services. It also provides other clinical services comprising cardiac perfusion services, blood management and autotransfusion services, extracorporeal membrane oxygenation services, perfusion staffing, and equipment rentals. The company was formerly known as Blade Air Mobility, Inc. and changed its name to Strata Critical Medical, Inc. in August 2025. The company was founded in 2014 and is headquartered in New York, New York.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $197M | $-14M | $41M | $-60M | 14.8% | 34.3% | -251.4% |
| 2024 | $147M | $-17M | $-27M | $-36M | -12.3% | -34.8% | -51.3% |
| 2023 | $225M | $-61M | $-56M | $-34M | -23.9% | 54.1% | 105.7% |
| 2022 | $146M | $-48M | $-27M | $-38M | -9.9% | - | - |
| 2021 |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 146.12 | 225.18 | 146.82 | 197.14 |
| Operating Revenue | - | 146.12 | 225.18 | 146.82 | 197.14 |
| Cost Of Revenue | - | 123.84 | 183.06 | 117.23 | 156.01 |
| Gross Profit | - | 22.28 | 42.12 | 29.59 | 41.13 |
| Operating Expense | - | 75.80 | 110.24 | 52.11 | 63.48 |
| Research And Development | 1.68 | 5.54 | 4.63 | 3.18 | - |
| Selling General And Administration | - | 70.26 | 105.61 | 50.86 | 60.88 |
| Total Expenses | - | 199.65 | 293.30 | 169.34 | 219.49 |
| Operating Income | - | -53.53 | -68.12 | -22.52 | -22.35 |
| Total Operating Income As Reported | - | -53.53 | -68.12 | -22.52 | -22.35 |
| EBITDA | - | -47.80 | -61.01 | -16.56 | -14.17 |
| Normalized EBITDA | - | -69.87 | -63.14 | -15.71 | -12.21 |
| EBIT | - | -53.53 | -68.12 | -22.52 | -22.35 |
| Interest Income | - | 3.43 | 8.44 | 7.21 | 4.24 |
| Net Interest Income | - | 3.43 | 8.44 | 7.21 | 4.24 |
| Other Income Expense | - | 22.06 | 2.13 | -0.85 | -1.95 |
| Interest Income Non Operating | - | 3.43 | 8.44 | 7.21 | 4.24 |
| Net Non Operating Interest Income Expense | - | 3.43 | 8.44 | 7.21 | 4.24 |
| Pretax Income | - | -28.03 | -57.54 | -16.16 | -20.07 |
| Tax Provision | - | -0.77 | -1.47 | 0 | 0 |
| Tax Rate For Calcs | - | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | - | 0.61 | 0.05 | 0 | 0 |
| Net Income Continuous Operations | - | -27.26 | -56.08 | -16.16 | -20.07 |
| Net Income From Continuing And Discontinued Operation | - | -27.26 | -56.08 | -27.31 | 41.35 |
| Net Income From Continuing Operation Net Minority Interest | - | -27.26 | -56.08 | -16.16 | -20.07 |
| Net Income | - | -27.26 | -56.08 | -27.31 | 41.35 |
| Net Income Common Stockholders | - | -27.26 | -56.08 | -27.31 | 41.35 |
| Net Income Including Noncontrolling Interests | - | -27.26 | -56.08 | -27.31 | 41.35 |
| Normalized Income | - | -48.72 | -58.15 | -15.31 | -18.11 |
| Diluted NI Availto Com Stockholders | - | -27.26 | -56.08 | -27.31 | 41.35 |
| Basic Average Shares | - | 71.66 | 73.52 | 79.42 | 82.09 |
| Diluted Average Shares | - | 71.66 | 73.52 | 79.42 | 82.09 |
| Reconciled Depreciation | - | 5.72 | 7.11 | 5.96 | 8.18 |
| Reconciled Cost Of Revenue | - | 123.84 | 183.06 | 112.52 | 150.43 |
| Total Unusual Items | - | 22.06 | 2.13 | -0.85 | -1.95 |
| Total Unusual Items Excluding Goodwill | - | 22.06 | 2.13 | -0.85 | -1.95 |
| Net Income Discontinuous Operations | - | - | - | -11.15 | 61.41 |
| Gain On Sale Of Security | - | 22.06 | 2.13 | -0.85 | -1.95 |
| Depreciation Amortization Depletion Income Statement | - | - | - | 1.26 | 2.60 |
| Depreciation And Amortization In Income Statement | - | - | - | 1.26 | 2.60 |
| General And Administrative Expense | 30.14 | 62.51 | 95.17 | 81.71 | - |
| Other Gand A | 30.14 | 62.51 | 95.17 | 81.71 | - |
| Selling And Marketing Expense | 2.78 | 7.75 | 10.44 | 7.95 | - |
| Amortization | - | - | - | 1.26 | 2.60 |
| Amortization Of Intangibles Income Statement | - | - | - | 1.26 | 2.60 |
Healthcare sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Strata Critical Medical, Inc.this co. | SRTA | $542M | 13.10 | 1.94 | 14.8% | -36.28 |
| Rigel Pharmaceuticals, Inc. | RIGL | $560M | 1.52 | 1.43 | 93.8% | 4.35 |
| Ironwood Pharmaceuticals, Inc. | IRWD | $560M | 23.30 | -2.14 | -9.2% | 9.00 |
| Cytek Biosciences, Inc. | CTKB | $559M | -8.40 | 1.64 | -19.5% | -28.29 |
| Cerus Corporation | CERS |
| - |
| - |
| - |
| - |
| - |
| - |
| - |
| $559M |
| - |
| 8.70 |
| -24.3% |
| - |
| NeuroPace, Inc. | NPCE | $556M | -25.92 | 29.24 | -112.8% | -50.21 |
| Fulgent Genetics, Inc. | FLGT | $554M | -9.15 | 0.50 | -5.4% | -11.16 |
| Tectonic Therapeutic, Inc. | TECX | $550M | -7.41 | 2.19 | -29.5% | -4.16 |
| XOMA Royalty Corporation | XOMA | $532M | 16.77 | 6.34 | 37.8% | 12.14 |
| Peer Median | - | -7.41 | 1.91 | -14.3% | -4.16 | |