SRTA Home Investment Highlights Valuation & Metrics Price Chart Why The Stock Moved Return vs. Risk About SRTA Interactive Breakdown Better Bets vs. SRTA Peer Outperformance Latest Trefis Analyses Trade Ideas More From Trefis Peer Comparisons FDIC Bank Data FDA Approved Drugs Data Clinical Pipeline Financials Segment Financials Price Behavior Short Interest Earnings Returns History SEC Filings Forward Guidance Insider Activity Investor Activity (13F) Trade Sentinel Investor Videos Industry Resource Links External Quote Links

    Strata Critical Medical (SRTA)

    Market Price (10/4/2026): $4.74 | Market Cap: $408.7 MilSector: Health Care | Industry: Health Care Facilities

    Strata Critical Medical (SRTA)

    Market Price (10/4/2026): $4.74
    Market Cap: $408.7 Mil
    Sector: Health Care
    Industry: Health Care Facilities

    Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

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    Megatrend and thematic drivers
    Megatrends include Digital Health & Telemedicine. Themes include Remote Patient Monitoring, Health Data Analytics, and AI in Healthcare Management.

    0 Megatrend and thematic drivers
    Megatrends include Digital Health & Telemedicine. Themes include Remote Patient Monitoring, Health Data Analytics, and AI in Healthcare Management.

    SRTA in ETFs

    Weight = SRTA's share of each fund

    VTI0.00%
    IWM0.01%
    VTWO0.01%
    DFAS0.01%
    IWN0.00%
    DFAC0.00%
    IWV0.00%

    Valuation & Metrics

    FYE: 12/31SRTA [1]S&P 500 [2]
    REVENUE GROWTH
    LTM Revenue [3]$256.0 Mil—
    FY 2026 Sales$290.8 Mil—
    FY 2027 Sales$326.1 Mil—
    FY 2026 Sales Growth13.6%—
    FY 2027 Sales Growth12.1%12.8%
    EARNINGS
    LTM Net Income (GAAP) [3]$40.2 Mil—
    FY 2026 Net Income (Non-GAAP)$-7.6 Mil—
    FY 2027 Net Income (Non-GAAP)$-1.6 Mil—
    FY 2027 Net Income Growth—18.2%
    FY 2026 EPS (Non-GAAP)$-0.09—
    FY 2027 EPS (Non-GAAP)$0.00—
    FY 2027 EPS Growth——
    VALUATION
    FY 2026 P/S1.41.7
    FY 2027 P/S1.3—
    FY 2026 P/E—7.8
    FY 2027 P/E——

    [1] SRTA forward figures are analyst consensus for the next two fiscal years (fiscal year end 12/31). Net Income and EPS are non-GAAP (adjusted) consensus. P/S and P/E divide the current market cap by the consensus figure.
    [2] S&P 500 figures are the SPY ETF's holdings-weighted forward aggregate. P/S and P/E reflect FY1/FY2 consensus blended to the 12-month window ending 10/31/27 (~one year forward), shown when ≥90% of index weight has estimates. Growth is the aggregate next-fiscal-year vs current-fiscal-year (FY1→FY2) change. Index-level dollar Sales, Net Income and EPS are not applicable.
    [3] LTM = reported trailing-twelve-month actuals (GAAP).
    SRTAS&P 500
    REVENUE GROWTHVERY GOOD
    Rev LTM ($ Bil)0.3
    Rev Chg Q60.7%9.3%
    Rev Chg LTM66.8%8.3%
    Rev Chg 3Y Avg18.8%5.8%
    PROFITABILITYVERY POOR
    Op Inc LTM ($ Bil)-0.0
    CFO LTM ($ Bil)-0.0
    Net Inc LTM ($ Bil)0.0
    Op Mgn LTM-8.0%18.6%
    CFO/Rev LTM-14.1%21.8%
    Net Inc Mgn15.7%13.1%
    VALUATIONLOW
    P/S1.73.0
    P/CFO-12.314.3
    P/FCF-8.918.6
    P/E11.021.4
    STABILITYGOOD
    Debt/Equity0.010.21
    Cash/Assets0.070.07

    AI Analysis | Feedback

    MetricValueDateSource
    U.S. Organ Transport Market Share90%8292025Link
    Customer Retention Rate100%8292025Link

    Price Chart

    No Events

    Why The Stock Moved

    Qualitative Assessment

    AI Analysis | Feedback

    Updated on 10/1/2026

    Strata Critical Medical (SRTA) stock has lost about 10% since 6/30/2026 because of the following key factors:

    1. Widened Adjusted Loss Per Share in Fiscal Q2 2026 Despite Revenue Beat. Strata Critical Medical reported its fiscal Q2 2026 results on August 4, 2026, showing that while revenue surged 60.7% year-over-year to $72.5 million, surpassing estimates of $67 million, the adjusted loss per share widened to $0.12, missing expectations of a $0.03 loss per share. This significant earnings miss, despite strong revenue growth and a raised full-year 2026 guidance, likely raised investor concerns about the company's path to profitability.

    2. Declining Logistics Segment Margins and Projected Revenue Drop. In fiscal Q2 2026 (ending June 30, 2026), Strata Critical Medical's logistics segment experienced a decline in margins, falling to 18.4% from 19.3% in the prior period and missing its 20% target. Management attributed this to customer headwinds and projected a high-single-digit decline in logistics revenue for fiscal Q3 2026 due to anticipated customer volume reductions and seasonality. This indicated operational challenges in a key business segment.

    Show more
    Updated on 10/1/2026

    Strata Critical Medical (SRTA) stock has lost about 10% since 6/30/2026 because of the following key factors:

    1. Widened Adjusted Loss Per Share in Fiscal Q2 2026 Despite Revenue Beat. Strata Critical Medical reported its fiscal Q2 2026 results on August 4, 2026, showing that while revenue surged 60.7% year-over-year to $72.5 million, surpassing estimates of $67 million, the adjusted loss per share widened to $0.12, missing expectations of a $0.03 loss per share. This significant earnings miss, despite strong revenue growth and a raised full-year 2026 guidance, likely raised investor concerns about the company's path to profitability.

    2. Declining Logistics Segment Margins and Projected Revenue Drop. In fiscal Q2 2026 (ending June 30, 2026), Strata Critical Medical's logistics segment experienced a decline in margins, falling to 18.4% from 19.3% in the prior period and missing its 20% target. Management attributed this to customer headwinds and projected a high-single-digit decline in logistics revenue for fiscal Q3 2026 due to anticipated customer volume reductions and seasonality. This indicated operational challenges in a key business segment.

    3. Persistent Overall Unprofitability and Negative Net Loss Trend. Strata Critical Medical's financial results for the six-month period ending June 30, 2026, revealed a net loss of $8.4 million, an increase from a $7.2 million loss during the same period in 2025. This continued unprofitability, with the company not forecast to become profitable over the next year, likely contributed to a bearish sentiment among investors, leading to the stock's decline following the fiscal Q2 2026 earnings report.

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    Stock Movement Drivers

    Fundamental Drivers

    The -8.3% change in SRTA stock from 6/30/2026 to 10/1/2026 was primarily driven by a -23.6% change in the company's Net Income Margin (%).
    (LTM values as of)630202610012026Change
    Stock Price ($)5.274.83-8.3%
    Change Contribution By: 
    Total Revenues ($ Mil)22925612.0%
    Net Income Margin (%)20.6%15.7%-23.6%
    P/E Multiple9.610.48.2%
    Shares Outstanding (Mil)8586-1.0%
    Cumulative Contribution-8.3%

    LTM = Last Twelve Months as of date shown

    Market Drivers

    6/30/2026 to 10/1/2026
    ReturnCorrelation
    SRTA-8.3% 
    Market (SPY)2.3%50.8%
    Sector (XLV)4.8%11.1%

    Fundamental Drivers

    The 15.6% change in SRTA stock from 3/31/2026 to 10/1/2026 was primarily driven by a 29.8% change in the company's Total Revenues ($ Mil).
    (LTM values as of)331202610012026Change
    Stock Price ($)4.184.8315.6%
    Change Contribution By: 
    Total Revenues ($ Mil)19725629.8%
    Net Income Margin (%)21.0%15.7%-25.1%
    P/E Multiple8.610.420.9%
    Shares Outstanding (Mil)8586-1.8%
    Cumulative Contribution15.6%

    LTM = Last Twelve Months as of date shown

    Market Drivers

    3/31/2026 to 10/1/2026
    ReturnCorrelation
    SRTA15.6% 
    Market (SPY)17.8%54.4%
    Sector (XLV)13.9%2.1%

    Fundamental Drivers

    The -4.5% change in SRTA stock from 9/30/2025 to 10/1/2026 was primarily driven by a -39.3% change in the company's P/S Multiple.
    (LTM values as of)930202510012026Change
    Stock Price ($)5.064.83-4.5%
    Change Contribution By: 
    Total Revenues ($ Mil)15425666.8%
    P/S Multiple2.71.6-39.3%
    Shares Outstanding (Mil)8186-5.7%
    Cumulative Contribution-4.5%

    LTM = Last Twelve Months as of date shown

    Market Drivers

    9/30/2025 to 10/1/2026
    ReturnCorrelation
    SRTA-4.5% 
    Market (SPY)15.6%46.7%
    Sector (XLV)21.0%11.9%

    Fundamental Drivers

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    Market Drivers

    9/30/2023 to 10/1/2026
    ReturnCorrelation
    SRTA  
    Market (SPY)84.9%45.5%
    Sector (XLV)35.2%11.8%

    Return vs. Risk

    Price Returns Compared

     202120222023202420252026Total [1]
    Returns
    SRTA Return----10%6%17%
    Peers Return8%33%2%-4%37%37%166%
    S&P 500 Return27%-19%24%23%16%12%104%

    Monthly Win Rates [3]
    SRTA Win Rate----40%44% 
    Peers Win Rate47%50%44%50%50%63% 
    S&P 500 Win Rate75%42%67%75%67%44% 

    Max Drawdowns [4]
    SRTA Max Drawdown------32% 
    Peers Max Drawdown-49%-61%-64%-53%-34%-40% 
    S&P 500 Max Drawdown-5%-25%-10%-8%-19%-9% 

    [1] Cumulative total returns since the beginning of 2021
    [2] Peers: TMDX, CYRX, BLFS.
    [3] Win Rate = % of calendar months in which monthly returns were positive
    [4] Max drawdown represents maximum peak-to-trough decline within a year
    [5] 2026 data is for the year up to 10/2/2026 (YTD)

    How Low Can It Go

    SRTA has limited trading history. Below is the Health Care sector ETF (XLV) in its place.

    EventXLVS&P 500
    2025 US Tariff Shock
      % Loss-11.7%-18.8%
      % Gain to Breakeven13.3%23.1%
      Time to Breakeven142 days79 days
    2022 Inflation Shock & Fed Tightening
      % Loss-13.8%-24.5%
      % Gain to Breakeven15.9%32.4%
      Time to Breakeven166 days427 days
    2020 COVID-19 Crash
      % Loss-27.9%-33.7%
      % Gain to Breakeven38.8%50.9%
      Time to Breakeven77 days140 days
    Q4 2018 Fed Policy Error / Growth Scare
      % Loss-15.0%-19.2%
      % Gain to Breakeven17.6%23.8%
      Time to Breakeven191 days105 days
    2015-2016 China Devaluation / Global Growth Scare
      % Loss-15.9%-12.2%
      % Gain to Breakeven18.9%13.9%
      Time to Breakeven165 days62 days
    2011 US Debt Ceiling Crisis & European Contagion
      % Loss-15.8%-17.9%
      % Gain to Breakeven18.8%21.8%
      Time to Breakeven153 days123 days

    Compare to TMDX, CYRX, BLFS

    In The Past

    State Street Health Care Select Sector SPDR ETF's stock fell -11.7% during the 2025 US Tariff Shock. Such a loss loss requires a 13.3% gain to breakeven.

    Preserve Wealth

    Limiting losses and compounding gains is essential to preserving wealth.

    Asset Allocation

    Actively managed asset allocation strategies protect wealth. Learn more.

    SRTA has limited trading history. Below is the Health Care sector ETF (XLV) in its place.

    EventXLVS&P 500
    2020 COVID-19 Crash
      % Loss-27.9%-33.7%
      % Gain to Breakeven38.8%50.9%
      Time to Breakeven77 days140 days
    2008-2009 Global Financial Crisis
      % Loss-37.9%-53.4%
      % Gain to Breakeven61.1%114.4%
      Time to Breakeven767 days1085 days

    Compare to TMDX, CYRX, BLFS

    In The Past

    State Street Health Care Select Sector SPDR ETF's stock fell -11.7% during the 2025 US Tariff Shock. Such a loss loss requires a 13.3% gain to breakeven.

    Preserve Wealth

    Limiting losses and compounding gains is essential to preserving wealth.

    Asset Allocation

    Actively managed asset allocation strategies protect wealth. Learn more.

    About Strata Critical Medical (SRTA)

    Blade Air Mobility, Inc., trading under the symbol SRTA, provides premium air transportation services designed to offer efficient alternatives to congested ground routes within the United States. The company's core business revolves around minimizing travel time and improving convenience for passengers by leveraging airborne solutions.

    The company's main products and services include both charter flights and by-the-seat bookings. These services utilize a diverse fleet of aircraft, including helicopters, jets, turboprops, and amphibious seaplanes, allowing for flexible travel solutions tailored to various distances and passenger needs.

    Blade Air Mobility primarily serves customers within the United States who are looking for rapid and direct travel options, particularly in areas where ground transportation is time-consuming. Its market consists of individuals and businesses seeking faster, more convenient, and often point-to-point travel experiences compared to traditional commuting methods.

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    • Uber/Lyft for urban and regional air transportation via helicopters and seaplanes.
    • Like NetJets, but for by-the-seat bookings on helicopters and small aircraft for quick, short-distance routes.

    AI Analysis | Feedback

    • Charter Flights: Private air transportation services for individuals or groups using helicopters, jets, turboprops, and amphibious seaplanes.
    • By-the-Seat Flights: Scheduled air transportation services where passengers can book individual seats on helicopters, jets, turboprops, and amphibious seaplanes.

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    • Helijet Charters Inc.

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    Melissa M. Tomkiel, Co-Chief Executive Officer and General Counsel

    • Melissa Tomkiel is the Co-CEO and General Counsel of Strata Critical Medical, Inc.. She also serves on Strata's board of directors.
    • Before her current role, she served as President and General Counsel of Blade Air Mobility, the predecessor company to Strata, which she joined in 2015.
    • Prior to Blade, Ms. Tomkiel co-founded and was President of Fly The Whale, a commuter air carrier operating amphibious seaplanes and rotorcraft. She began her career as an attorney at Pryor Cashman.
    • Ms. Tomkiel was appointed Co-CEO when Blade Air Mobility rebranded to Strata Critical Medical in August 2025. She has made significant stock purchases in Strata (SRTA).

    William A. Heyburn, Co-Chief Executive Officer and Chief Financial Officer

    • William Heyburn is the Co-CEO and Chief Financial Officer of Strata Critical Medical, Inc., and also serves as a director.
    • He previously held the positions of Chief Financial Officer and Head of Corporate Development at Blade Air Mobility, which he joined in 2018.
    • Before joining Blade Air Mobility, Mr. Heyburn was a Vice President at RedBird Capital Partners, a principal investment firm specializing in growth equity, build-up, and structured equity investments.
    • He was appointed Co-CEO and CFO in August 2025, concurrent with the company's rebranding. He purchased 17,000 shares of Strata Critical Medical Inc on December 9, 2025.

    Scott M. Wunsch, Chief Executive Officer, Logistics

    • Scott Wunsch is the CEO of Strata's Logistics business.
    • He joined Trinity Medical Solutions in 2018, a company later acquired by Strata in 2021.
    • Prior to Trinity, Mr. Wunsch spent 13 years at LifeCenter Northwest, where he was the Vice President of Clinical Operations, managing overall operations and logistics for one of the largest geographic organ procurement organizations in the country.

    Amir M. Cohen, Chief Accounting & Integration Officer

    • Amir Cohen is Strata's Chief Accounting & Integration Officer.
    • He played a key role in building the company's accounting organization through its transition from private to public and led significant aspects of the passenger-business carve-out.
    • Before joining Strata, Mr. Cohen held senior finance roles at various WPP agencies and WPP's global headquarters, and previously worked as a manager at PwC. He holds an MBA from NYU Stern and is a CPA.

    Mathew Schneider, Vice President of Finance and Investor Relations, and CFO of Clinical Services

    • Mathew Schneider has served as Strata's Vice President of Finance and Investor Relations since April 2024 and as Chief Financial Officer of Strata's Clinical Services business since October 2025.
    • Prior to Strata, he worked as a senior analyst at Holocene Advisors L.P. and an analyst at Glenhill Capital L.P., focusing on the Industrial sector.
    • Mr. Schneider also served as a Vice President in Morgan Stanley's equity research division and an Associate in UBS's equity research division.

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    Strata Critical Medical (symbol: SRTA) focuses on time-critical logistics and specialized medical services for the U.S. healthcare industry. The company, which was formerly known as Blade Air Mobility, Inc., rebranded to Strata Critical Medical, Inc. in August 2025 after selling its passenger division.

    Strata Critical Medical's main products and services include air and ground transportation for human organs, transplant teams, and related medical materials, as well as organ placement services. It also provides transplant clinical services such as organ recovery procedures, normothermic regional perfusion, and preservation services. Additionally, the company offers cardiac perfusion services, blood management and autotransfusion services, extracorporeal membrane oxygenation services, perfusion staffing, and equipment rentals.

    The company plays a significant role in the U.S. organ transport market, dominating approximately 90% of this sector.

    The addressable markets for Strata Critical Medical's main products and services are primarily within the United States:

    • Organ Transport Service Market (U.S.): The global organ transport service market is projected to grow from USD 4.40 billion in 2025 to USD 4.74 billion in 2026, and further to USD 9.40 billion by 2035. North America accounts for approximately 41% of this global market. The U.S. organ transport service market is anticipated to experience substantial growth due to increasing organ transplant procedures and advancements in medical technologies.
    • U.S. Transplantation Market: The U.S. transplantation market size was valued at USD 3.40 billion in 2022 and is projected to grow at a compound annual growth rate (CAGR) of 9.1% during the forecast period.
    • Organ Preservation Market (U.S.): The global organ preservation market size was USD 280.7 million in 2024 and is expected to reach USD 510.0 million by 2032, growing at a CAGR of 7.9% during 2025–2032. The U.S. performed 48,149 transplants in 2024, indicating a high demand for organ preservation solutions.

    Strata Critical Medical's projected revenues were between $160 million and $170 million for 2025, and the company has raised its 2026 revenue guidance to between $260 million and $275 million.

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    AI Analysis | Feedback

    The company Strata Critical Medical, Inc. (SRTA) provides time-critical logistics and medical services to the healthcare industry in the United States. It was formerly known as Blade Air Mobility, Inc. and changed its name to Strata Critical Medical, Inc. in August 2025, at which point its ticker changed from BLDE to SRTA. The company focuses on services such as air and ground transportation for human organs, transplant teams, and related medical materials. Here is a summary of Strata Critical Medical's capital allocation decisions over the last 3-5 years, reflecting its operations as Blade Air Mobility's medical division and subsequently as Strata Critical Medical:

    Capital Allocation Decisions

    • Share Issuance
      • Strata Critical Medical had 86.4 million shares outstanding as of February 23, 2026.
      • As of March 14, 2026, the company had 86.99 million shares outstanding.
    • Inbound Investments
      • Strata announced the closing of a revolving credit facility in February 2026 to support its acquisition strategy execution.
    • Outbound Investments
      • Strata Critical Medical aims to strategically expand its portfolio of services through acquisition and organic growth.

    Peer Outperformance in Health Care Facilities

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    Share of Health Care Facilities constituents that SRTA has outperformed, by holding period. Peers without a full price history over a given window are excluded from that window.
    1Y
    —
    insufficient peer history
    3Y
    —
    insufficient peer history
    5Y
    —
    insufficient peer history
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    Peer Comparisons

    Peers to compare with:

    Financials

    SRTATMDXCYRXBLFSMedian
    NameStrata C.TransMed.CryoPort BioLife . 
    Mkt Price-79.80-37.3858.59
    Mkt Cap-2.8-1.82.3
    Rev LTM-668-103386
    Op Inc LTM-82-342
    FCF LTM-79--238
    FCF 3Y Avg--42-2-20
    CFO LTM-146-1781
    CFO 3Y Avg-95-1153

    Growth & Margins

    SRTATMDXCYRXBLFSMedian
    NameStrata C.TransMed.CryoPort BioLife . 
    Rev Chg LTM-25.8%-25.4%25.6%
    Rev Chg 3Y Avg-70.5%-23.0%46.7%
    Rev Chg Q-20.7%-21.5%21.1%
    QoQ Delta Rev Chg LTM-5.1%-5.1%5.1%
    Op Inc Chg LTM-6.6%-118.1%62.3%
    Op Inc Chg 3Y Avg-3,245.9%--25.3%1,610.3%
    Op Mgn LTM-12.2%-2.9%7.6%
    Op Mgn 3Y Avg-8.8%--8.9%-0.1%
    QoQ Delta Op Mgn LTM--2.6%-18.1%7.7%
    CFO/Rev LTM-21.8%-16.4%19.1%
    CFO/Rev 3Y Avg-16.7%-11.7%14.2%
    FCF/Rev LTM-11.8%--2.2%4.8%
    FCF/Rev 3Y Avg--15.5%-1.2%-7.2%

    Valuation

    SRTATMDXCYRXBLFSMedian
    NameStrata C.TransMed.CryoPort BioLife . 
    Mkt Cap-2.8-1.82.3
    P/S-4.1-17.810.9
    P/Op Inc-33.8-612.8323.3
    P/EBIT-29.4-612.8321.1
    P/E-18.2-31.524.8
    P/CFO-18.9-108.263.6
    Total Yield-5.6%-3.2%4.4%
    Dividend Yield-0.0%-0.0%0.0%
    FCF Yield 3Y Avg--0.2%-0.2%-0.0%
    D/E-0.3-0.00.2
    Net D/E-0.1--0.00.1

    Returns

    SRTATMDXCYRXBLFSMedian
    NameStrata C.TransMed.CryoPort BioLife . 
    1M Rtn--3.0%-5.4%1.2%
    3M Rtn-15.9%-33.0%24.4%
    6M Rtn--20.8%-91.6%35.4%
    12M Rtn--30.5%-43.1%6.3%
    3Y Rtn-51.2%-178.3%114.8%
    1M Excs Rtn--3.4%-4.9%0.7%
    3M Excs Rtn-13.4%-30.5%21.9%
    6M Excs Rtn--37.4%-76.9%19.8%
    12M Excs Rtn--43.7%-31.7%-6.0%
    3Y Excs Rtn--35.1%-91.8%28.3%

    Comparison Analyses

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    Financials

    $ Mil | FY: 12/312026Q22026Q12025Q42025Q32025Q22025Q12024Q42024Q32024Q22024Q12023Q42023Q3
    Period End6/30/20263/31/202612/31/20259/30/20256/30/20253/31/202512/31/20249/30/20246/30/20243/31/202412/31/20239/30/2023
    Filing Date8/4/20265/6/20263/3/202611/10/20258/5/20255/12/20253/13/202511/12/20248/8/20245/7/20243/12/202411/8/2023
    Key Financials Quarterly            
    Total Revenue736767494536363668524771
    Ebitda30-3-4-3-4-4-6-11-8-34-6
    Operating Income-5-3-6-6-5-6-6-7-12-10-36-7
    Net Income-112-957-4-3-10-2-11-4-340
    EPS-0.120.03-0.100.70-0.05-0.04-0.12-0.03-0.15-0.06-0.460.00
    Key Financials TTM            
    Total Revenue TTM256229197167154176192203238231225216
    Ebitda TTM-4-10-14-15-17-25-29-59-58-58-61-45
    Operating Income TTM-20-20-22-22-23-31-35-65-65-65-68-52
    Net Income TTM40474140-19-27-27-51-49-50-56-38
    Growth Rates Quarterly            
    Total Revenue Growth60.7%87.4%83.5%36.7%-33.6%-30.2%-23.4%-49.5%11.4%13.8%24.5%56.3%
    EBITDA Growth208.4%102.2%22.3%32.6%72.9%51.8%87.1%-3.7%-1.8%26.0%-91.2%37.6%
    Operating Income Growth-16.5%47.7%-8.5%20.7%61.8%42.4%83.4%4.8%0.5%23.1%-81.1%28.6%
    Net Income Growth-181.0%161.7%9.8%3038.4%67.0%17.5%71.1%-776.1%7.4%58.5%-120.2%103.1%
    Margins Quarterly            
    EBITDA Margin4.3%0.1%-5.1%-7.9%-6.4%-11.1%-12.0%-16.1%-15.6%-16.1%-71.2%-7.8%
    Operating Income Margin-7.5%-4.4%-9.6%-11.4%-10.3%-15.8%-16.2%-19.7%-17.9%-19.2%-75.1%-10.4%
    Net Income Margin-14.5%3.2%-13.2%116.5%-8.3%-9.7%-26.9%-5.4%-16.7%-8.2%-71.5%0.4%
    Cash & Debt            
    Total Cash23596176113120125136142151166173
    Total Debt44339932422262524
    Net Debt / (Cash)-18-54-58-72-105-111-122-113-120-125-142-149
    Cash Flows Quarterly            
    FCF from Operations64-8-37-3-0-268-16-92
    Cash Flows TTM            
    FCF from Operations TTM-36-45-49-42113-3-10-14-31-32-32
    Returns to Shareholders Quarterly            
    Dividends000000000000
    Share Repurchases-0-0-0-0-0-0-0-0-0-0-0-0
    Return on Invested Capital (ROIC) Quarterly            
    ROIC-5.2%-3.2%-7.0%-6.5%-5.9%-7.6%-8.2%-9.5%-17.1%-14.1%-54.8%-8.6%
    Return on Invested Capital (ROIC) TTM            
    ROIC TTM-4.9%-5.2%-6.1%-6.3%-7.5%-10.3%-12.2%-21.3%-22.5%-23.1%-26.3%-21.0%

    Segment Financials

    Revenue by Segment
    $ Mil20252024202320222021
    Logistics177147   
    Clinical200   
    Medical  12772 
    Passenger  9974 
    MediMobility Organ Transport and Jet    26
    Other    2
    Short Distance    22
    Total19714722514651


    Operating Income by Segment
    $ Mil202420232022
    Medical1911-3
    Passenger4-5-14
    Gain on lease modification1  
    Executive severance costs-0-0 
    M&A transaction costs-0  
    SOX readiness costs-0-0 
    Restructuring costs-1  
    Legal and regulatory advocacy fees-2-1 
    Impairment of intangible assets-6-21 
    Depreciation and amortization-6-7 
    Stock-based compensation-20-13 
    Adjusted unallocated corporate expenses and software development-22-22-37
    Contingent consideration compensation (earn-out) -10 
    Total-34-68-54


    Price Behavior

    Price Behavior
    Market Price$4.83 
    Market Cap ($ Bil)0.4 
    First Trading Date09/13/2019 
    Distance from 52W High-25.3% 
       50 Days200 Days
    DMA Price$5.13$4.82
    DMA Trendupindeterminate
    Distance from DMA-5.9%0.2%
     3M1YR
    Volatility46.6%56.8%
    Downside Capture303.12222.46
    Upside Capture202.29178.88
    Correlation (SPY)52.9%47.0%
    SRTA Betas & Captures as of 9/30/2026

     1M2M3M6M1Y3Y
    Beta1.782.302.182.182.040.06
    Up Beta0.681.161.361.811.880.37
    Down Beta2.301.911.731.892.200.30
    Up Capture118%283%267%299%287%33%
    Bmk +ve Days6162766132424
    Stock +ve Days8192861116126
    Down Capture319%267%246%213%156%91%
    Bmk -ve Days16263760120328
    Stock -ve Days14213462132142

    [1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
    Based On 1-Year Data
    Annualized
    Return    		Annualized
    Volatility    		Sharpe
    Ratio    		Correlation
    with SRTA
    SRTA-4.6%56.7%0.12-
    Sector ETF (XLV)21.0%16.0%1.0011.9%
    Equity (SPY)15.7%13.0%0.8546.7%
    Gold (GLD)7.7%29.6%0.2532.2%
    Commodities (DBC)45.6%20.8%1.69-7.2%
    Real Estate (VNQ)1.2%13.6%-0.1616.8%
    Bitcoin (BTCUSD)-25.7%44.5%-0.5437.6%

    Smart multi-asset allocation framework can stack odds in your favor. Learn How
    Based On 5-Year Data
    Annualized
    Return    		Annualized
    Volatility    		Sharpe
    Ratio    		Correlation
    with SRTA
    SRTA2.0%58.0%0.37-
    Sector ETF (XLV)6.3%15.2%0.2311.8%
    Equity (SPY)13.0%17.2%0.5745.5%
    Gold (GLD)18.6%18.9%0.8029.0%
    Commodities (DBC)10.6%19.6%0.42-7.7%
    Real Estate (VNQ)0.4%18.9%-0.0817.0%
    Bitcoin (BTCUSD)13.6%52.3%0.4334.8%

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    Based On 10-Year Data
    Annualized
    Return    		Annualized
    Volatility    		Sharpe
    Ratio    		Correlation
    with SRTA
    SRTA1.0%58.0%0.37-
    Sector ETF (XLV)10.4%16.7%0.5111.8%
    Equity (SPY)15.3%17.9%0.7245.5%
    Gold (GLD)11.6%16.4%0.5829.0%
    Commodities (DBC)8.4%18.1%0.38-7.7%
    Real Estate (VNQ)4.4%20.7%0.1717.0%
    Bitcoin (BTCUSD)64.2%66.2%1.0434.8%

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    Short Interest

    Short Interest: As Of Date9152026
    Short Interest: Shares Quantity4.4 Mil
    Short Interest: % Change Since 8312026-3.7%
    Average Daily Volume0.8 Mil
    Days-to-Cover Short Interest5.2 days
    Basic Shares Quantity86.2 Mil
    Short % of Basic Shares5.1%

    Earnings Returns History

    Updated 9/4/2026
    Expand for More
     Forward Returns
    Earnings Date1D Returns5D Returns21D Returns
    8/4/20260.4%7.0%-3.2%
    5/6/202610.6%13.5%29.9%
    3/3/20266.9%1.8%-6.9%
    11/10/20259.5%8.1%4.3%
    SUMMARY STATS   
    # Positive442
    # Negative002
    Median Positive8.2%7.6%17.1%
    Median Negative  -5.1%
    Max Positive10.6%13.5%29.9%
    Max Negative  -6.9%
     Collapse to Preview
     Forward Returns
    Earnings Date1D Returns5D Returns21D Returns
    8/4/20260.4%7.0%-3.2%
    5/6/202610.6%13.5%29.9%
    3/3/20266.9%1.8%-6.9%
    11/10/20259.5%8.1%4.3%
    SUMMARY STATS   
    # Positive442
    # Negative002
    Median Positive8.2%7.6%17.1%
    Median Negative  -5.1%
    Max Positive10.6%13.5%29.9%
    Max Negative  -6.9%

    SEC Filings

    Expand for More
    Report DateFiling DateFiling
    06/30/202608/04/202610-Q
    03/31/202605/06/202610-Q
    12/31/202503/03/202610-K
    09/30/202511/10/202510-Q
    06/30/202508/05/202510-Q
    03/31/202505/12/202510-Q
    12/31/202403/13/202510-K
    09/30/202411/12/202410-Q
    06/30/202408/08/202410-Q
    03/31/202405/07/202410-Q
    12/31/202303/12/202410-K
    09/30/202311/08/202310-Q
    06/30/202308/09/202310-Q
    03/31/202305/11/202310-Q
    12/31/202203/16/202310-K
    09/30/202211/10/202210-Q
     Collapse to Preview
    Report DateFiling DateFiling
    06/30/202608/04/202610-Q
    03/31/202605/06/202610-Q
    12/31/202503/03/202610-K
    09/30/202511/10/202510-Q
    06/30/202508/05/202510-Q
    03/31/202505/12/202510-Q
    12/31/202403/13/202510-K
    09/30/202411/12/202410-Q
    06/30/202408/08/202410-Q
    03/31/202405/07/202410-Q
    12/31/202303/12/202410-K
    09/30/202311/08/202310-Q
    06/30/202308/09/202310-Q
    03/31/202305/11/202310-Q
    12/31/202203/16/202310-K
    09/30/202211/10/202210-Q
    06/30/202208/09/202210-Q
    03/31/202205/10/202210-Q
    12/31/202102/10/202210-QT
    09/30/202112/20/202110-K
    06/30/202108/16/202110-Q

    Recent Forward Guidance

    Updated 9/28/2026

    Latest: Q2 2026 Earnings Reported 8/4/2026

    Forward GuidanceGuidance Change
    MetricSourceLowMidHigh% Chg% DeltaChangePrior
    2026 RevenueReported285.00 Mil290.00 Mil295.00 Mil8.4% RaisedGuidance: 267.50 Mil for 2026
    2026 Pro forma RevenueReported295.00 Mil300.00 Mil305.00 Mil   
    2026 Adjusted EBITDAReported33.00 Mil34.00 Mil35.00 Mil9.7% RaisedGuidance: 31.00 Mil for 2026
    2026 Pro forma Adjusted EBITDAReported36.00 Mil37.00 Mil38.00 Mil   
    2026 Free cash flow, before aircraft and engine acquisitionsReported15.00 Mil18.50 Mil22.00 Mil0 AffirmedGuidance: 18.50 Mil for 2026


    Prior: Q1 2026 Earnings Reported 5/6/2026

    Forward GuidanceGuidance Change
    MetricSourceLowMidHigh% Chg% DeltaChangePrior
    2026 RevenueReported260.00 Mil267.50 Mil275.00 Mil0 AffirmedGuidance: 267.50 Mil for 2026
    2026 Adjusted EBITDAReported29.00 Mil31.00 Mil33.00 Mil0 AffirmedGuidance: 31.00 Mil for 2026
    2026 Free Cash FlowReported15.00 Mil18.50 Mil22.00 Mil0 AffirmedGuidance: 18.50 Mil for 2026

    Q4 2025 Earnings Reported 3/3/2026

    Forward GuidanceGuidance Change
    MetricSourceLowMidHigh% Chg% DeltaChangePrior
    2026 RevenueReported260.00 Mil267.50 Mil275.00 Mil1.9% RaisedGuidance: 262.50 Mil for 2026
    2026 Adjusted EBITDAReported29.00 Mil31.00 Mil33.00 Mil3.3% RaisedGuidance: 30.00 Mil for 2026
    2026 Adjusted EBITDA Growth RateReported 30.0%    
    2026 Free Cash FlowReported15.00 Mil18.50 Mil22.00 Mil   

    Q3 2025 Earnings Reported 11/10/2025

    Forward GuidanceGuidance Change
    MetricSourceLowMidHigh% Chg% DeltaChangePrior
    2025 RevenueReported185.00 Mil190.00 Mil195.00 Mil  RaisedGuidance: 255.00 Mil for 2025
    2025 Adjusted EBITDAReported13.00 Mil13.50 Mil14.00 Mil   

    Insider Activity

    Updated 9/25/2026
    Expand for More
    #OwnerTitleHoldingActionFiling DatePriceSharesTransacted
    Value    		Value of
    Held Shares    		Form
    1Love, Reginald DirectSell81320265.755,09129,273842,266Form
    2Heyburn, William ACo-CEO and CFODirectSell61020265.8731,671185,9099,092,612Form
    3Cohen, AmirChief Accounting OfficerDirectSell61020265.874,65527,325860,589Form
    4Tomkiel, Melissa MCo-CEO and General CounselDirectSell61020265.8729,730174,51511,110,583Form
    5Wunsch, Scott MCEO, LogisticsDirectSell61020265.875,55032,5783,672,119Form
     Collapse to Preview
    #OwnerTitleHoldingActionFiling DatePriceSharesTransacted
    Value    		Value of
    Held Shares    		Form
    1Love, Reginald DirectSell81320265.755,09129,273842,266Form
    2Heyburn, William ACo-CEO and CFODirectSell61020265.8731,671185,9099,092,612Form
    3Cohen, AmirChief Accounting OfficerDirectSell61020265.874,65527,325860,589Form
    4Tomkiel, Melissa MCo-CEO and General CounselDirectSell61020265.8729,730174,51511,110,583Form
    5Wunsch, Scott MCEO, LogisticsDirectSell61020265.875,55032,5783,672,119Form
    6Cohen, AmirChief Accounting OfficerDirectSell52620265.9140,575239,798893,964Form
    7Cohen, AmirChief Accounting OfficerDirectSell52620265.7910,30059,6371,110,742Form
    8Cohen, AmirChief Accounting OfficerDirectSell51320265.7914,30682,8321,170,379Form
    9Heyburn, William ACo-CEO and CFODirectBuy121020254.4717,00076,0446,277,850Form
    10Lauck, Andrew DirectBuy120520254.375,00021,825592,077Form
    11Love, Reginald DirectSell112420254.3711,00048,070497,730Form
    12Love, Reginald DirectSell112020254.3111,00047,434538,581Form

    Investor Activity (13F)

    Updated Oct 4, 2026
    13F holdings as of Mar 31, 2026 (Q1 2026)

    Active managers (13F portfolio over $250M, at least 3 holdings) with a position over $5M that is either over 10% of their portfolio or held in a concentrated book of 50 or fewer total positions. Index/ETF, sovereign, bank, community-bank and charitable/donor-advised filers are excluded.

    Active ManagerValue% of PortfolioTotal PositionsQoQFiling
    Northern Right Capital Management, L.P.$17.1 Mil6.1%25ADD +42.6%13F
    Third Point LLC$20.9 Mil1.0%33Hold13F
    Active ManagerValue% of PortfolioTotal PositionsQoQFiling
    Northern Right Capital Management, L.P.$17.1 Mil6.1%25ADD +42.6%13F
    Active Manager
    Active ManagerValue% of PortfolioTotal PositionsQoQFiling
    Third Point LLC$20.9 Mil1.0%33Hold13F
    Northern Right Capital Management, L.P.$17.1 Mil6.1%25ADD +42.6%13F

    Industry Resources

    External Quote Links


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