Strata Critical Medical (SRTA)
NASDAQ:SRTA
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Strata Critical Medical
(NASDAQ:SRTA)
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Rating:52Neutral
Price Target:
$4.00
▼(-0.99% Downside)
Action:ReiteratedDate: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
Strong liquidity and low leverage
A no-debt position combined with ~$61M of cash provides a durable financial buffer that supports operations, funds integration/A&M activity, and reduces refinancing risk. This liquidity allows management to pursue acquisition-led growth without immediate capital-market dependence, improving strategic optionality.
Negative Factors
Consistent negative operating cash flow
Persistent negative operating and free cash flow increases dependence on cash reserves and external financing, limiting reinvestment and making growth more funding-sensitive. Continued cash burn could force asset sales, dilute shareholders or constrain M&A pacing if operating cash conversion does not improve.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong liquidity and low leverage
A no-debt position combined with ~$61M of cash provides a durable financial buffer that supports operations, funds integration/A&M activity, and reduces refinancing risk. This liquidity allows management to pursue acquisition-led growth without immediate capital-market dependence, improving strategic optionality.
Read all positive factors
Strata Critical Medical (SRTA) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$351.44M
Dividend YieldN/A
Average Volume (3M)778.07K
Price to Earnings (P/E)9.6
Beta (1Y)1.96
Revenue Growth-5.40%
EPS Growth63.20%
CountryUS
Employees310
SectorHealthcare
Sector Strength45
IndustryAirlines, Airports & Air Services
Share Statistics
EPS (TTM)-0.06
Shares Outstanding86,989,140
10 Day Avg. Volume642,022
30 Day Avg. Volume778,065
Financial Highlights & Ratios
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 Cap0.92
Enterprise Value/Revenue1.64
Enterprise Value/Gross Profit7.87
Enterprise Value/Ebitda-17.53
Forecast
1Y Price Target
$8.81Price Target Upside118.07% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering4
EPS Forecast (FY)-0.09
Revenue Forecast (FY)$269.18M
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. ...
How the Company Makes Money
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Strata Critical Medical Earnings Call Summary
Earnings Call Date:Mar 03, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:May 12, 2026
Earnings Call Sentiment Positive
The call conveyed strong operational momentum and financial improvement driven by robust organic logistics growth (35%+), a successful integration of the Keystone acquisition, significant gross profit and adjusted EBITDA improvement, and raised 2026 guidance. Key positives include no debt, a healthy cash balance (~$61M), an active M&A pipeline supported by an undrawn $30M facility, and regulatory trends that favor the company's DCD/NRP capabilities. Near-term weaknesses are largely execution and timing-related: a negative operating cash flow in Q4 driven by nonrecurring charges and working capital build from integration, a discrete aircraft corrosion/write-down, elevated SG&A from Keystone, and an anticipated sequential margin dip in Q1 due to mix and weather. Overall, the positives (sizable growth, margin improvement, guidance raises, strong balance sheet and strategic positioning) substantially outweigh the transient and integration-related lowlights.Positive Updates
Strong Organic and Logistics Growth
Q4 logistics (organic) revenue grew 35.3% year-over-year to $49.2M (prior-year $36.4M). Company cited organic growth of ~35% in Q4 overall, driving a strong quarterly performance and sustained volume into 2026.
Negative Updates
Negative Operating Cash Flow and Cash Conversion Issues
Operating cash flow was negative $8.3M in Q4. The $15.3M gap between adjusted EBITDA and operating cash flow was driven by $9.6M of nonrecurring items (legacy legal settlement, transaction costs, other one-offs) and approximately $5.7M working capital build tied to back-office integration delays and year-end logistics growth.
Read all updates
Q4-2025 Updates
Positive
Negative
Strong Organic and Logistics Growth
Q4 logistics (organic) revenue grew 35.3% year-over-year to $49.2M (prior-year $36.4M). Company cited organic growth of ~35% in Q4 overall, driving a strong quarterly performance and sustained volume into 2026.
Read all positive updates
Company Guidance
Management raised 2026 revenue guidance to $260–$275 million (from $255–$270M) and adjusted EBITDA to $29–$33 million (from $28–$32M), reiterated free cash flow before aircraft and engine purchases of $15–$22 million, and is targeting average annualized adjusted EBITDA growth of at least 30% through acquisitions (many opportunities at mid-single-digit multiples). They expect a modest sequential revenue decline in Q1 2026 versus Q4 2025 with adjusted EBITDA margins down roughly 100 basis points sequentially, followed by sequential revenue and margin improvement in Q2 and the back half as new customers onboard; Q4 2025 revenue was $66.8M, full-year 2025 revenue and adjusted EBITDA were $197.1M and $14.1M (pro forma 2025 revenue with Keystone ~ $243M). Financial and capital metrics cited to support the plan include ~$61.0M cash and short-term investments, no debt, an undrawn $30M asset-based facility (upsizable to $50M), a Joby-related earn-out up to $45M (up to $17.5M due August; remainder due March 2027), a fleet of ~30 owned/dedicated aircraft with ~2 owned aircraft planned to be added in 2026 (one already acquired), and reiterated confidence in maintaining an asset-light model.Strata Critical Medical Financial Statement Overview
Summary
Income Statement
34
Negative
Balance Sheet
73
Positive
Cash Flow
28
Negative
| 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
Negative
4.04
Price Trends
4.45
Negative
4.72
Negative
4.65
Negative
Market Momentum
-0.13
Positive
39.19
Neutral
23.97
Neutral
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 4.04 is below the 20-day moving average (MA) of 4.25, below the 50-day MA of 4.45, and below the 200-day MA of 4.65, indicating a bearish trend. The MACD of -0.13 indicates Positive momentum. The RSI at 39.19 is Neutral, neither overbought nor oversold. The STOCH value of 23.97 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for SRTA.
Strata Critical Medical Risk Analysis
Strata Critical Medical disclosed 56 risk factors in its most recent earnings report. Strata Critical Medical reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Strata Critical Medical Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
53 Neutral | $938.60M | 14.47 | 8.62% | ― | 4.27% | 28.47% | |
52 Neutral | $351.44M | 9.59 | 16.46% | ― | -5.40% | 63.20% | |
52 Neutral | $311.79M | 15.54 | 2.41% | ― | -1.64% | 1966.67% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
49 Neutral | $215.12M | -6.36 | 6.23% | ― | ― | ― | |
44 Neutral | $87.00M | -0.37 | 110.96% | ― | -8.51% | 82.15% |
* Healthcare Sector Average
SRTA
Strata Critical Medical
4.04
1.31
47.99%
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Strata Critical Medical Corporate Events
Business Operations and StrategyPrivate Placements and Financing
Strata Critical Medical Secures New Revolving Credit Facility
Positive
Feb 5, 2026
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 tot...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.