Revenue performance remains highly volatile, evidenced by a 24.1% growth in 2026Q1 following a sharp 58.2% contraction in 2025Q4, while gross margins have struggled to stabilize, peaking at 26.5% in 2024Q3 before declining to 21.0% in 2026Q1.
| Sales/Revenue | 210.22M | 197.14M | 248.69M | 225.18M | 146.12M | 50.53M | 23.43M | 31.2M |
| Revenue Growth % | -16.41% | -20.73% | 10.44% | 54.11% | 189.2% | 115.61% | -24.88% | - |
| Cost of Goods Sold | 166.95M | 156.01M | 189.77M | 183.06M | 123.84M | 40.01M | 21.11M | 26.5M |
| COGS % of Revenue | - | 79.14% | 76.31% | 81.29% | 84.76% | 79.18% | 90.07% | 84.94% |
| Gross Profit | 43.27M | 41.13M | 58.92M | 42.12M | 22.27M | 10.52M | 2.33M | 4.7M |
| Gross Margin % | 20.58% | 20.86% | 23.69% | 18.71% | 15.24% | 20.82% | 9.93% | 15.06% |
| Gross Profit Growth % | - | -30.2% | 39.88% | 89.1% | 111.78% | 352% | -50.48% | - |
| Operating Expenses | 61.01M | 63.48M | 92.84M | 110.24M | 75.8M | 34.61M | 12.69M | 16.24M |
| OpEx % of Revenue | - | 32.2% | 37.33% | 48.96% | 51.88% | 68.5% | 54.13% | 52.06% |
| Selling, General & Admin | 73.5M | 60.88M | 89.66M | 105.61M | 70.26M | 32.93M | 11.82M | 15.49M |
| SG&A % of Revenue | - | 30.88% | 36.05% | 46.9% | 48.08% | 65.17% | 50.46% | 49.65% |
| Research & Development | 3.07M | 0 | 3.18M | 4.63M | 5.54M | 1.68M | 861K | 751K |
| R&D % of Revenue | - | - | 1.28% | 2.05% | 3.79% | 3.33% | 3.67% | 2.41% |
| Other Operating Expenses | 0 | 2.6M | 0 | 0 | 0 | 0 | 0 | 0 |
| Operating Income | -17.74M | -22.35M | -33.93M | -68.12M | -53.53M | -24.09M | -10.36M | -11.54M |
| Operating Margin % | -8.44% | -11.34% | -13.64% | -30.25% | -36.63% | -47.68% | -44.2% | -37% |
| Operating Income Growth % | - | 34.11% | 50.19% | -27.25% | -122.18% | -132.58% | 10.24% | - |
| EBITDA | -11.26M | -14.17M | -27.96M | -61.01M | -69.87M | -23.5M | -9.83M | -11.07M |
| EBITDA Margin % | -5.35% | -7.19% | -11.24% | -27.09% | -47.81% | -46.5% | -41.96% | -35.48% |
| EBITDA Growth % | 55.99% | 49.33% | 54.16% | 12.68% | -197.34% | -138.96% | 11.17% | - |
| D&A (Non-Cash Add-back) | 6.49M | 8.19M | 5.96M | 7.11M | -16.34M | 596K | 526K | 472K |
| EBIT | -16.73M | -20.07M | -33.93M | -68.12M | -53.53M | -24.09M | -10.36M | -11.54M |
| Net Interest Income | 2.92M | 4.24M | 7.21M | 8.44M | 3.43M | 460K | 199K | 703K |
| Interest Income | 2.92M | 4.24M | 7.21M | 8.44M | 3.43M | 460K | 200K | 703K |
| Interest Expense | 0 | 0 | 0 | 0 | 0 | 0 | 1K | 0 |
| Other Income/Expense | 3.59M | 2.29M | 6.36M | 10.57M | 25.5M | -19.6M | 199K | 703K |
| Pretax Income | -14.15M | -20.07M | -27.56M | -57.54M | -28.03M | -43.7M | -10.16M | -10.84M |
| Pretax Margin % | -6.73% | -10.18% | -11.08% | -25.55% | -19.18% | -86.48% | -43.36% | -34.74% |
| Income Tax | 3.71M | -61.41M | -255K | -1.47M | -772K | -3.64M | 0 | 0 |
| Effective Tax Rate % | -26.24% | 306.06% | 0.93% | 2.55% | 2.75% | 8.34% | 0% | 0% |
| Net Income | 46.99M | 41.35M | -27.31M | -56.08M | -27.26M | -40.05M | -10.16M | -10.84M |
| Net Margin % | 22.35% | 20.97% | -10.98% | -24.9% | -18.66% | -79.27% | -43.36% | -34.74% |
| Net Income Growth % | 276.9% | 251.42% | 51.3% | -105.71% | 31.94% | -294.21% | 6.26% | - |
| Net Income (Continuing) | -16.63M | 41.35M | -27.31M | -56.08M | -27.26M | -40.05M | -10.16M | -10.84M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | 0.52 | 0.50 | -0.35 | -0.76 | -0.38 | -0.57 | -0.81 | -1.47 |
| EPS Growth % | 51.46% | 242.86% | 53.95% | -100% | 33.33% | 29.63% | 44.9% | - |
| EPS (Basic) | - | 0.50 | -0.35 | -0.76 | -0.38 | -0.57 | -0.81 | -1.47 |
| Diluted Shares Outstanding | 90.17M | 82.45M | 77.5M | 73.52M | 71.24M | 70.1M | 12.51M | 7.36M |
| Basic Shares Outstanding | 85.32M | 82.45M | 77.5M | 73.52M | 71.24M | 70.1M | 12.51M | 7.36M |
| Dividend Payout Ratio | - | - | - | - | - | - | - | - |
Persistent Operating Losses
As reported in recent financial filings, SRTA's revenue trajectory remains highly erratic, characterized by a 24.1% growth in 2026Q1 following a sharp 58.2% contraction in 2025Q4, suggesting that the company is still struggling to stabilize its top-line performance during its transition toward specialized medical logistics services.
The extreme quarterly fluctuations indicate that the company is likely shedding legacy passenger-focused revenue streams while attempting to scale its medical mission volume. Investors should monitor whether the 2026Q1 growth represents a sustainable recovery or merely a temporary rebound from the significant contraction observed in the prior period.
Based on the provided income statement data, SRTA's gross margin has struggled to maintain consistency, peaking at 26.5% in 2024Q3 before dipping to 21.0% in 2026Q1, which highlights the inherent difficulty of scaling an asset-light logistics model reliant on third-party transportation providers.
The inability to consistently expand gross margins suggests that the company lacks significant pricing power over its third-party operator network. This structural limitation implies that profitability will remain elusive unless the company can achieve greater mission density or successfully negotiate more favorable terms with its logistics partners.
According to the company's historical income statements, there is a persistent disconnect between operating and net income, exemplified by the 2025Q3 period where a reported net income of $57.4M stood in stark contrast to an operating loss of $5.6M, indicating significant non-recurring items.
This divergence suggests that the company's bottom-line results are frequently distorted by non-operating gains, which may obscure the underlying cash-burning nature of the core business. Analysts should focus on operating income as the primary metric for evaluating the company's true progress toward self-sustaining profitability.
As evidenced by the financial data, SRTA continues to grapple with high SG&A expenses relative to its gross profit, with operating margins remaining consistently negative across most of the last ten quarters, suggesting that the current corporate cost structure is not yet aligned with its revenue scale.
The persistent operating losses indicate that management has not yet successfully right-sized the organization to match the smaller, more focused revenue base of the medical logistics model. Further investigation into the scalability of the company's proprietary logistics software is warranted to determine if fixed costs can be effectively leveraged.
Quick answers to the most common questions about buying SRTA stock.
For fiscal year 2025, Strata Critical Medical, Inc. (SRTA) reported total revenue of $197.1M. This represents a 531.9% increase compared to $31.2M in 2019.
Strata Critical Medical, Inc. (SRTA) is profitable, generating $41.3M in net income for the fiscal year ending 2025 with a net profit margin of 21.0%.
Strata Critical Medical, Inc. (SRTA) reported an operating income of $-22.4M, resulting in an operating profit margin of -11.3%. This margin reflects the operational efficiency of the business before interest and taxes.
Strata Critical Medical, Inc. (SRTA) generated $41.1M in gross profit for the year, representing a gross profit margin of 20.9%. This demonstrates the company's core pricing power and production efficiency.