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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% | - |
| 2024 | $147M | $-17M | $-27M | $-36M | -12.3% | -34.8% | - |
| 2023 | $225M | $-61M | $-56M | $-34M | -23.9% | 54.1% | - |
| 2022 | $146M | $-48M | $-27M | $-38M | -9.9% | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Total Revenue | 146.12 | 225.18 | 146.82 | 197.14 |
| Cost Of Revenue | 123.84 | 183.06 | 117.23 | 156.01 |
| Gross Profit | 22.27 | 42.12 | 29.59 | 41.13 |
| Operating Expense | 75.80 | 110.24 | 52.11 | 63.48 |
| Operating Income | -53.53 | -68.12 | -22.52 | -22.35 |
| EBITDA | -47.80 | -61.01 | -16.56 | -14.17 |
| EBIT | -53.53 | -68.12 | -22.52 | -22.35 |
| Pretax Income | -28.03 | -57.54 | -16.16 | -20.07 |
| Tax Provision | -0.77 | -1.47 | 0 | 0 |
| Net Income | -27.26 | -56.08 | -27.31 | 41.35 |
| Net Income Common Stockholders | -27.26 | -56.08 | -27.31 | 41.35 |
| Total Expenses | 199.65 | 293.30 | 169.34 | 219.49 |
| Interest Income | 3.43 | 8.44 | 7.21 | 4.24 |
| Research And Development | 5.54 | 4.63 | 3.18 | 0 |
| Selling General And Administration | 70.26 | 105.61 | 50.86 | 60.88 |
| Normalized EBITDA | -69.87 | -63.14 | -15.71 | -12.21 |
| Normalized Income | -48.72 | -58.15 | -15.31 | -18.11 |
| Basic EPS | -0.38 | -0.76 | -0.34 | 0 |
| Diluted EPS | -0.38 | -0.76 | -0.34 | 0 |
| Tax Effect Of Unusual Items | 0.61 | 0.05 | 0 | 0 |
| Tax Rate For Calcs | 0.03 | 0.03 | 0 | 0 |
| 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 From Continuing Operation Net Minority Interest | -27.26 | -56.08 | -16.16 | -20.07 |
| Reconciled Depreciation | 5.72 | 7.11 | 5.96 | 8.19 |
| Reconciled Cost Of Revenue | 123.84 | 183.06 | 112.52 | 150.43 |
| Net Interest Income | 3.43 | 8.44 | 7.21 | 4.24 |
| Net Income From Continuing And Discontinued Operation | -27.26 | -56.08 | -27.31 | 41.35 |
| Total Operating Income As Reported | -53.53 | -68.12 | -22.52 | -22.35 |
| Diluted Average Shares | 71.66 | 73.52 | 79.42 | 0 |
| Basic Average Shares | 71.66 | 73.52 | 79.42 | 0 |
| Diluted NI Availto Com Stockholders | -27.26 | -56.08 | -27.31 | 41.35 |
| Net Income Including Noncontrolling Interests | -27.26 | -56.08 | -27.31 | 41.35 |
| Net Income Discontinuous Operations | 0 | 0 | -11.15 | 61.41 |
| Net Income Continuous Operations | -27.26 | -56.08 | -16.16 | -20.07 |
| Other Income Expense | 22.06 | 2.13 | -0.85 | -1.95 |
| Gain On Sale Of Security | 22.06 | 2.13 | -0.85 | -1.95 |
| Net Non Operating Interest Income Expense | 3.43 | 8.44 | 7.21 | 4.24 |
| Interest Income Non Operating | 3.43 | 8.44 | 7.21 | 4.24 |
| Depreciation Amortization Depletion Income Statement | 0 | 0 | 1.26 | 2.60 |
| Depreciation And Amortization In Income Statement | 0 | 0 | 1.26 | 2.60 |
| Amortization | 0 | 0 | 1.26 | 2.60 |
| Amortization Of Intangibles Income Statement | 0 | 0 | 1.26 | 2.60 |
| Selling And Marketing Expense | 7.75 | 10.44 | 7.95 | 0 |
| General And Administrative Expense | 62.51 | 95.17 | 81.71 | 0 |
| Other Gand A | 62.51 | 95.17 | 81.71 | 0 |
| Operating Revenue | 146.12 | 225.18 | 146.82 | 197.14 |
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 | $424M | - | 1.52 | 14.8% | -64.52 |
| REGENXBIO Inc. | RGNX | $434M | - | 4.16 | -188.7% | -3.19 |
| Evolent Health, Inc. | EVH | $432M | - | 1.02 | -128.7% | 14.29 |
| Aura Biosciences, Inc. | AURA | $432M | - | 3.13 | -77.6% | -2.73 |
| Fulgent Genetics, Inc. | FLGT | $427M |
| - |
| 0.41 |
| -5.5% |
| -1.98 |
| Vanda Pharmaceuticals Inc. | VNDA | $424M | - | 1.27 | -67.4% | -1.16 |
| Lexeo Therapeutics, Inc. | LXEO | $421M | - | 1.68 | -40.5% | -2.27 |
| Benitec Biopharma Inc. | BNTC | $416M | - | 2.22 | -39.0% | -4.75 |
| Neurogene Inc. | NGNE | $414M | - | 1.55 | -34.1% | -1.53 |
| Peer Median | - | - | 1.61 | -54.0% | -2.13 | |