Strata Critical Medical (SRTA) AI Stock Analysis

• Market Cap: $362.74M
• Dividend Yield: N/A
• Average Volume (3M): 787.67K
• Price to Earnings (P/E): 9.6
• Beta (1Y): 1.99
• Revenue Growth: -5.40%
• EPS Growth: 63.20%
• Country: US
• Employees: 310
• Sector: Industrials
• Sector Strength: 72
• Industry: Airlines, Airports & Air Services
• EPS (TTM): -0.06
• Shares Outstanding: 86,989,140
• 10 Day Avg. Volume: 665,245
• 30 Day Avg. Volume: 787,668
• PEG Ratio: -0.04
• Price to Book (P/B): 1.42
• Price to Sales (P/S): 2.01
• P/FCF Ratio: -6.78
• Enterprise Value/Market Cap: 0.92
• Enterprise Value/Revenue: 1.70
• Enterprise Value/Gross Profit: 8.15
• Enterprise Value/Ebitda: -18.14
• 1Y Price Target: $9.63
• Price Target Upside: 130.94% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 2
• EPS Forecast (FY): 0.11
• Revenue Forecast (FY): $266.50M

• Rating: 52 Neutral
• Price Target: $4.00 ▼(-4.08% Downside)
• Action: Reiterated Date: 03/03/26
• Date: Action: Reiterated 03/03/26

The score is primarily held back by weak financial performance—ongoing operating losses and sustained cash burn—despite a strong, low-leverage balance sheet. Technicals also lean bearish with negative momentum and price below key moving averages. Offsetting these, the latest earnings call was constructive with raised 2026 guidance and improving profitability outlook, while valuation is difficult to assess due to a negative P/E and no dividend support.

Positive Factors

Conservative Balance Sheet

A near-zero leverage profile with roughly $61M of cash gives management a multi-quarter runway to execute M&A and absorb integration costs. This financial flexibility reduces refinancing risk, supports the asset-light model, and permits strategic investments without immediate reliance on equity issuance.

Strong Organic Logistics Growth

Sustained ~35% organic logistics growth indicates durable end-market demand and improving customer adoption of the company's DCD/NRP capabilities. Persistent volume growth drives scale benefits, supports gross profit expansion, and underpins the company’s ability to convert revenue into sustainable higher adjusted EBITDA over time.

M&A Platform Supported by Undrawn ABL

An undrawn, upsizable asset-based revolver plus management focus on bolt-on M&A creates a repeatable acquisition engine. Executing on mid-single-digit multiple deals can accelerate adjusted EBITDA growth, complement organic expansion, and scale clinical capabilities without materially increasing owned assets.

Negative Factors

Persistent Negative Operating Cash Flow

Consistent operating cash outflows and negative free cash flow limit internal funding for growth and expose the company to refinancing or dilution risk if losses persist. One-offs worsened Q4 cash conversion, but the underlying cash burn trend remains a durable constraint on capital allocation flexibility.

Core Operating Profitability Weakness

Despite a net income swing in 2025, negative EBIT/EBITDA across multiple years show operating margins are not yet sustainable. Reliance on non-operating items and one-offs to reach GAAP profits weakens earnings quality, meaning profitability must improve at the operating level for durable returns.

Industry & Regulatory Timing Risk

Market expansion assumptions depend on donor trends and regulatory changes (CMS/OPTN). Slower-than-expected donor growth or delayed policy rollouts compress addressable market and can slow new customer activation and the projected tailwind for DCD/NRP services, affecting long-term revenue scaling.

Strata Critical Medical Business Overview & Revenue Model

Company Description

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 transplant. The company was formerly known as Blade Air Mobility, Inc. and change its name to Strata Critical Medical, Inc. in August 2025. The company was founded in 2014 and is headquartered in New York, New York.

How the Company Makes Money

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Strata Critical Medical Financial Statement Overview

Summary

Balance sheet strength (low leverage and meaningful equity buffer) is offset by weak operating fundamentals: negative EBIT/EBITDA across periods and persistent negative operating/free cash flow that worsened in 2025. The shift to positive net income in 2025 is encouraging, but earnings quality is less durable while operating profit and cash generation remain negative.

Income Statement

Revenue scaled sharply from 2020 to 2024, but momentum reversed in 2025 with a -13.8% decline. Profitability remains weak: EBIT and EBITDA are negative across the period (including 2025), signaling the core business is still loss-making. A notable positive is the swing to positive net income in 2025 after multi-year losses, but because operating profit stayed negative, the earnings quality looks less durable until operating margins improve.

Balance Sheet

The balance sheet looks conservatively financed, with low debt relative to equity (debt-to-equity was ~0.04 in 2024 and total debt is modest in 2025). Equity is large versus assets, providing a meaningful buffer and flexibility. The key weakness is returns: prior years show negative return on equity (e.g., 2023–2024), consistent with ongoing operating losses, so the strong capitalization has not yet translated into consistent shareholder value creation.

Cash Flow

Cash generation is the biggest concern: operating cash flow is negative in every year shown and deteriorated materially in 2025 (a large cash outflow). Free cash flow is also consistently negative, indicating the business is consuming cash rather than funding itself. While free cash flow trends were somewhat mixed year-to-year (including an improvement rate in 2025), the absolute level remains meaningfully negative, increasing reliance on the balance sheet or external funding if this persists.

Breakdown	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Sep 2021
Income Statement
Total Revenue	197.14M	248.69M	225.18M	146.12M	50.53M
Gross Profit	41.13M	58.92M	42.12M	22.27M	10.52M
EBITDA	-11.88M	-27.96M	-61.01M	-69.87M	-23.50M
Net Income	41.35M	-27.31M	-56.08M	-27.26M	-40.05M
Balance Sheet
Total Assets	325.47M	256.68M	294.94M	325.02M	335.88M
Cash, Cash Equivalents and Short-Term Investments	61.23M	127.14M	166.14M	192.08M	281.97M
Total Debt	3.31M	9.32M	24.52M	18.33M	716.00K
Total Liabilities	46.40M	34.74M	60.64M	50.54M	44.51M
Stockholders Equity	279.07M	221.94M	234.30M	274.49M	291.37M
Cash Flow
Free Cash Flow	-58.51M	-35.51M	-34.46M	-37.86M	-16.42M
Operating Cash Flow	-48.91M	-2.52M	-32.35M	-37.13M	-15.62M
Investing Cash Flow	69.75M	-1.02M	17.09M	79.34M	-321.34M
Financing Cash Flow	-8.91M	-5.76M	-76.00K	-1.08M	332.26M

Strata Critical Medical Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 4.17
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SRTA, the sentiment is Negative. The current price of 4.17 is below the 20-day moving average (MA) of 4.51, below the 50-day MA of 4.83, and below the 200-day MA of 4.63, indicating a bearish trend. The MACD of -0.10 indicates Positive momentum. The RSI at 37.72 is Neutral, neither overbought nor oversold. The STOCH value of 10.75 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for SRTA.

Strata Critical Medical Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	63 Neutral	$10.79B	15.43	7.44%	2.01%	2.89%	-14.66%
SNCY	53 Neutral	$852.59M	14.47	8.62%	―	4.27%	28.47%
SRTA	52 Neutral	$362.74M	9.59	16.46%	―	-5.40%	63.20%
ASLE	52 Neutral	$291.01M	39.13	2.06%	―	-1.64%	1966.67%
FLYX	47 Neutral	$191.53M	-6.36	6.23%	―	―	―
SRFM	44 Neutral	$100.86M	-0.37	110.96%	―	-8.51%	82.15%

Strata Critical Medical Corporate Events

Strata Critical Medical Secures New Revolving Credit Facility

On January 30, 2026, Strata Critical Medical, Inc. and its subsidiaries entered into a secured, asset-based revolving credit agreement with JPMorgan Chase Bank for up to $30 million, maturing on January 30, 2029, with the potential to increase total capacity to $50 million, backed by first-priority liens on substantially all of the borrowers’ personal property under a new security agreement. Announced via press release on February 5, 2026, the undrawn facility is intended to fund working capital and general corporate purposes, with management emphasizing that it will primarily support Strata’s acquisition-driven growth strategy—particularly in clinical perfusion—while keeping the company’s owned aircraft fleet outside the collateral package to preserve future financing flexibility, a move that strengthens its balance sheet and acquisition capacity without immediately increasing leverage.

The most recent analyst rating on (SRTA) stock is a Hold with a $6.00 price target. To see the full list of analyst forecasts on Strata Critical Medical stock, see the SRTA Stock Forecast page.