SRTA
Strata Critical Medical, Inc.
Price as of Jul 17, 2026
SRTA earnings
Strata Critical Medical, Inc. earnings
Reported EPS and revenue history, upcoming estimates and available earnings-call summaries.
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| May 6, 2026 | $-0.04 | $0.03 | +175.0% | $67M | +5.8% |
| Mar 3, 2026 | $0.01 | $-0.07 | -800.0% | $23M | -63.7% |
| Mar 13, 2025 | $-0.12 | $-0.12 | +0.0% | $54M | +6.7% |
| Mar 12, 2024 | $-0.13 | $-0.23 | -76.9% | $47M | -1.9% |
| May 11, 2023 | $-0.21 | $-0.14 | +33.3% | $45M | +11.8% |
| Mar 15, 2023 | $-0.19 | $-0.23 | -21.1% | $38M | +6.0% |
| Nov 10, 2022 | $-0.14 | $-0.13 | +7.1% | $46M | +18.2% |
| Aug 9, 2022 | $-0.13 | $-0.09 | +30.8% | $36M | +31.0% |
| Feb 10, 2022 | $-0.21 | $-0.13 | +38.1% | $25M | +51.2% |
| Dec 20, 2021 | $-0.14 | $-0.13 | +7.1% | $20M | +47.7% |
| Aug 16, 2021 | $-0.01 | $-0.15 | -2622.3% | $13M | -5.1% |
| May 17, 2021 | — | $-0.33 | — | $9M | — |
Earnings call summary
Q1 FY2026 · May 6, 2026
AI summary of management’s prepared remarks and analyst Q&A. For informational purposes only — not investment advice.
Management highlights
- Co-CEOs Will Hayburn and Melissa Tomkeel reported another great quarter with revenue and adjusted EBITDA ahead of guidance. 87% year-over-year revenue growth with 32% organic growth in logistics and strong contribution from new clinical business. - Announced acquisition of Ohio Valley Perfusion Associates, which is aligned with M&A strategy, contributing ~$100,000 of adjusted EBITDA for remainder of year. - Built national footprint of aviation, ground, and clinical resources, acquired 1 new plane, opened several new aviation bases, and launched combined logistics and clinical base in Chicago. - Clinical division had great results with growth from new customer acquisitions and higher volumes. - Regulatory scrutiny around donor surgeon certification, and Strata is forward compatible and expanding capacity. - Focus on key value drivers: strengthening national organ recovery platform, acquiring new customers, optimizing profitability, and executing on M&A strategy.
Guidance
Revenue trending above midpoint of guidance range. Reiterating 2026 guidance: revenue $260 - $275 million, adjusted EBITDA $29 - $33 million, free cash flow before aircraft and engine purchases $15 - $22 million. Second quarter expected revenue increase in low single digits sequentially, adjusted EBITDA margin expected to improve to ~10%.
Segment performance
Total revenue increased 87.4% to $67.4 million in Q1 2026 versus $35.9 million in the prior year period. Logistics revenue, excluding Keystone, increased 32.4% to $47.6 million, driven by higher air revenue. Clinical revenue, non-existent in prior year, increased 12.7% sequentially to $19.8 million, driven by transplant clinical revenue. Gross profit increased 100% to $14.1 million. Logistics gross profit, excluding Keystone, increased 29.9% to $9.2 million. Logistics gross margin 19.3% in Q1 2026, down 30 basis points year-over-year. Clinical gross profit rose 29.2% sequentially to $5 million, clinical gross margin 25% in Q1 2026. Adjusted SG&A increased 0.3 million sequentially to $9.2 million. Adjusted EBITDA fell to $6.4 million, adjusted EBITDA margin 9.5% in Q1 2026. Operating cash flow was $3.9 million. Capital expenditures $5.5 million. Free cash flow before aircraft and engine acquisitions $2.1 million.
Risks & headwinds
- Forward-looking statements subject to risks and uncertainties, actual results may differ materially. - Non-GAAP measures should not be considered in isolation or substitute for GAAP. - Customer mix shifts can impact gross margins. - Timing of annual incentive compensation payouts can impact working capital and cash flow. - Oil price fluctuations could impact costs, but fuel surcharges are passed through to customers. - Regulatory changes and donor volume variability can impact business.
Analyst Q&A
Q: If oil price stays high, how will it impact top and bottom line?
A: Fuel pass-through above threshold in logistics contracts, costs passed through to customers, and national infrastructure built to reduce repositioning costs.
Q: Criteria for entering new market?
A: Responsive to customers' needs, offering dedicated capacity, and using locally-based surgeons and aviation assets.
Q: Logistics associated with clinical trials in transplant space: higher margin?
A: No, relationship with customer is agnostic, not charging differently based on medical device used.
Q: Structure of acquisitions?
A: Varies case-by-case, often includes equity components as companies want to participate in upside.
Q: Organ recovery hubs' growth?
A: Driven by customers, with strong footprint on east coast and opportunity in west and southwest.
Q: Donor metrics and average transport distance?
A: Average transport distance variability due to customer mix, but industry sees increase over time due to regulatory change.
Q: Weather effects in Q1?
A: Teterboro airport closed for several days, but transplant centers are nimble, impact not determinative.
Q: SG&A going forward?
A: Modest increase to support business growth, adding staff and infrastructure.
Q: Transplant industry growth expectations?
A: Deceased donor activity improved, transplant growth reaccelerated to mid-single digits in first quarter, in line with guidance, and potential upside if deceased donors recover.
Earnings history is derived from company filings and calendar data. Call summaries are grouped by reporting period. Latest covered event: 2026-08-04.