Strata Critical Medical (SRTA)
Market Price (2/19/2026): $4.63 | Market Cap: $381.8 MilSector: Health Care | Industry: Health Care Facilities
Strata Critical Medical (SRTA)
Market Price (2/19/2026): $4.63Market Cap: $381.8 MilSector: Health CareIndustry: Health Care Facilities
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
| Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 11%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 6.3% | Weak multi-year price returns2Y Excs Rtn is -33%, 3Y Excs Rtn is -63% | Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -35 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -11% |
| Cash is significant % of market capNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -19% | Not cash flow generativeCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -14%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -18% | |
| Strong revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is 54% | Key risksSRTA key risks include [1] challenges in successfully integrating recent acquisitions like Keystone Perfusion Services and [2] technological disruption to its organ transport model, Show more. | |
| Megatrend and thematic driversMegatrends include Digital Health & Telemedicine. Themes include Remote Patient Monitoring, Health Data Analytics, and AI in Healthcare Management. |
| Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 11%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 6.3% |
| Cash is significant % of market capNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -19% |
| Strong revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is 54% |
| Megatrend and thematic driversMegatrends include Digital Health & Telemedicine. Themes include Remote Patient Monitoring, Health Data Analytics, and AI in Healthcare Management. |
| Weak multi-year price returns2Y Excs Rtn is -33%, 3Y Excs Rtn is -63% |
| Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -35 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -11% |
| Not cash flow generativeCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -14%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -18% |
| Key risksSRTA key risks include [1] challenges in successfully integrating recent acquisitions like Keystone Perfusion Services and [2] technological disruption to its organ transport model, Show more. |
Qualitative Assessment
AI Analysis | Feedback
1. Bearish Technical Indicators and Momentum.
Strata Critical Medical (SRTA) has exhibited multiple bearish technical signals, indicating a sustained downward trend. The Momentum Indicator moved below the 0 level on January 21, 2026, and the Moving Average Convergence Divergence Histogram (MACD) turned negative on January 22, 2026. Furthermore, on February 5, 2026, the 10-day moving average crossed bearishly below the 50-day moving average, typically seen as a strong sell signal. The stock declined by -2.78% on February 10, 2026, and was down -9.72% over the preceding 10-day period, reflecting this negative momentum.
2. Uncertainty and Pessimistic Projections for Upcoming Q4 2025 Earnings.
Investors are awaiting the release of Strata Critical Medical's fourth-quarter 2025 financial results on March 3, 2026. The consensus EPS forecast for Q4 2025 is a negative -0.010, with some expectations for earnings to fall by 150%. While the company reported a positive Q3 2025, the anticipation of a loss for Q4 2025, coupled with an optimistic 171% year-on-year growth projection needed to reach breakeven in 2026, creates uncertainty and may have contributed to selling pressure.
Show more
Stock Movement Drivers
Fundamental Drivers
The -8.2% change in SRTA stock from 10/31/2025 to 2/18/2026 was primarily driven by a -10.8% change in the company's P/S Multiple.| (LTM values as of) | 10312025 | 2182026 | Change |
|---|---|---|---|
| Stock Price ($) | 5.03 | 4.62 | -8.2% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 299 | 313 | 4.4% |
| P/S Multiple | 1.4 | 1.2 | -10.8% |
| Shares Outstanding (Mil) | 81 | 82 | -1.4% |
| Cumulative Contribution | -8.2% |
Market Drivers
10/31/2025 to 2/18/2026| Return | Correlation | |
|---|---|---|
| SRTA | -8.2% | |
| Market (SPY) | 0.6% | 44.8% |
| Sector (XLV) | 9.3% | 21.8% |
Fundamental Drivers
nullnull
Market Drivers
7/31/2025 to 2/18/2026| Return | Correlation | |
|---|---|---|
| SRTA | ||
| Market (SPY) | 8.9% | 39.7% |
| Sector (XLV) | 21.4% | 20.9% |
Fundamental Drivers
nullnull
Market Drivers
1/31/2025 to 2/18/2026| Return | Correlation | |
|---|---|---|
| SRTA | ||
| Market (SPY) | 15.0% | 39.7% |
| Sector (XLV) | 8.8% | 20.9% |
Fundamental Drivers
nullnull
Market Drivers
1/31/2023 to 2/18/2026| Return | Correlation | |
|---|---|---|
| SRTA | ||
| Market (SPY) | 75.1% | 39.7% |
| Sector (XLV) | 23.7% | 20.9% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| SRTA Return | - | - | - | - | 10% | -7% | 2% |
| Peers Return | 59% | 24% | -2% | -8% | 14% | -2% | 100% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | -0% | 82% |
Monthly Win Rates [3] | |||||||
| SRTA Win Rate | - | - | - | - | 40% | 50% | |
| Peers Win Rate | 52% | 48% | 42% | 44% | 44% | 38% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 50% | |
Max Drawdowns [4] | |||||||
| SRTA Max Drawdown | - | - | - | - | -9% | -9% | |
| Peers Max Drawdown | -10% | -56% | -43% | -38% | -32% | -7% | |
| S&P 500 Max Drawdown | -1% | -25% | -1% | -2% | -15% | -1% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: TMDX, CYRX, CCRN, 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 2/18/2026 (YTD)
How Low Can It Go
SRTA has limited trading history. Below is the Health Care sector ETF (XLV) in its place.
| Event | XLV | S&P 500 |
|---|---|---|
| 2022 Inflation Shock | ||
| % Loss | -16.1% | -25.4% |
| % Gain to Breakeven | 19.1% | 34.1% |
| Time to Breakeven | 599 days | 464 days |
| 2020 Covid Pandemic | ||
| % Loss | -28.8% | -33.9% |
| % Gain to Breakeven | 40.4% | 51.3% |
| Time to Breakeven | 116 days | 148 days |
| 2018 Correction | ||
| % Loss | -15.8% | -19.8% |
| % Gain to Breakeven | 18.8% | 24.7% |
| Time to Breakeven | 326 days | 120 days |
| 2008 Global Financial Crisis | ||
| % Loss | -40.6% | -56.8% |
| % Gain to Breakeven | 68.3% | 131.3% |
| Time to Breakeven | 1,100 days | 1,480 days |
Compare to TMDX, CYRX, CCRN, BLFS
In The Past
SPDR Select Sector Fund's stock fell -16.1% during the 2022 Inflation Shock from a high on 4/8/2022. A -16.1% loss requires a 19.1% 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)
AI Analysis | Feedback
Here are 1-2 brief analogies to describe Strata Critical Medical (SRTA):
- The medical device equivalent of AbbVie (maker of Humira) for chronic skin conditions.
- Intuitive Surgical (ISRG) for light-based dermatological devices.
AI Analysis | Feedback
The public company "Strata Critical Medical" with the symbol SRTA does not appear to exist as described.
The symbol SRTA is currently associated with Starry Group Holdings, Inc., which provides fixed wireless broadband internet services, not critical medical products or services.
AI Analysis | Feedback
Upon researching "Strata Critical Medical" with the symbol "SRTA", I was unable to find a currently trading public company matching this exact description. Public company databases and financial records do not list an active entity by this name and symbol combination on major stock exchanges.
Therefore, I cannot identify its major customers or categorize them as requested, as the foundational company information could not be verified.
AI Analysis | Feedback
null
AI Analysis | Feedback
Melissa Tomkiel, Co-Chief Executive Officer and General Counsel
Ms. Tomkiel has served as Strata's Co-CEO since August 2025, concurrent with the company's renaming from Blade Air Mobility. She has also been the General Counsel since February 2015. Previously, she held the role of President from January 2021 to August 2025 and President, Fixed Wing from 2015 to 2020. Before joining Strata, Ms. Tomkiel was President of LIMA NY Corp., a commuter air carrier, from 2010 to 2015. From 2006 to 2010, she practiced as an attorney at Pryor Cashman.
William Heyburn, Co-Chief Executive Officer, Chief Financial Officer and Director
Mr. Heyburn has been Co-CEO of Strata since August 2025 and Chief Financial Officer since December 2020. He also served as Head of Corporate Development from May 2018 to August 2025. Prior to his tenure at Strata, Mr. Heyburn was Vice President at Redbird Capital Partners from 2015 to 2018, demonstrating a pattern of managing companies backed by private equity firms. He also held a position on the U.S. Credit Investment Team at Oak Hill Advisors, L.P. from 2013 to 2015, and was part of the investment banking group at Moelis and Company, focusing on restructuring transactions, from 2011 to 2013.
Amir Cohen, Chief Accounting Officer
Mr. Cohen has served as Strata's Chief Accounting Officer since May 2021. Before joining Strata (formerly Blade Air Mobility), he was the SVP of Finance for WPP's Wunderman Thompson network. Earlier in his career, Mr. Cohen was a Manager at PwC.
Matt Schneider, Vice President of Finance and Investor Relations, CFO of Strata's Keystone Perfusion subsidiary
Mr. Schneider holds the titles of Vice President of Finance and Investor Relations and also serves as the Chief Financial Officer of Strata's Keystone Perfusion subsidiary.
Scott M. Wunsch, Chief Executive Officer, Trinity Air Medical
Mr. Wunsch is the Chief Executive Officer of Trinity Air Medical.
AI Analysis | Feedback
The key risks to Strata Critical Medical (SRTA) business include:
- Integration of Acquisitions: Strata Critical Medical's ability to successfully integrate recently acquired businesses, such as Keystone Perfusion Services, poses a significant risk. Challenges could arise from the pace of integration, overestimating near-term revenue synergies, or potential missteps that delay the realization of anticipated benefits. The company's business model transformation following recent divestitures makes successful integration crucial for its future performance.
- Technological Disruption in Organ Transport: The emergence of new technologies that could make ground or commercial air transport of organs more viable presents a risk to Strata's current operational model. Additionally, delays in the adoption of electric vertical take-off and landing (eVTOL) aircraft or high fixed costs associated with such technologies could constrain cost savings and impact long-term profit growth.
- Regulatory and Operational Risks: Strata Critical Medical faces ongoing risks related to regulatory changes, legislative reforms, and potential civil or criminal enforcement actions in the healthcare industry. Furthermore, the provision of critical medical services and organ transport operations inherently carries the risk of negative publicity, reputational damage, litigation, claims, or investigations.
AI Analysis | Feedback
nullAI Analysis | Feedback
nullAI Analysis | Feedback
Here are the 3-5 expected drivers of future revenue growth for Strata Critical Medical (SRTA) over the next 2-3 years:1. Expansion of Organ Recovery Platform and Clinical Services: Strata Critical Medical recently acquired Keystone Perfusion, a strategic move aimed at creating an integrated organ recovery platform and diversifying into additional medical services. This acquisition is expected to accelerate the company's exposure to higher-growth clinical services. The company has been launching new clinical services and supporting innovative technologies to become an end-to-end organ recovery platform.
2. New Customer Acquisition and Market Share Gains: The company has demonstrated consistent growth through the acquisition of new customers and expansion of its market share. In Q3 2025, Strata reported a 29.0% year-over-year organic revenue growth (excluding the Keystone acquisition), driven by both new customer additions and increased adoption of services by existing customers.
3. Growth of Existing Customer Services and Offerings: Strata's revenue growth is also fueled by existing customers adopting new services offered by the company. The company's strategy includes expanding its overall service offerings to its current client base, further integrating its solutions within the healthcare industry.
4. Strategic Focus on Critical Medical Logistics: Following the divestiture of its passenger business and rebranding from Blade Air Mobility, Strata Critical Medical is now solely focused on the time-critical logistics and medical services provider to the U.S. healthcare industry. This sharpened focus on its core medical segment, which includes air and ground logistics, surgical organ recovery, organ placement, and perfusion solutions, is expected to drive concentrated growth and operational efficiencies.
AI Analysis | Feedback
Share Issuance
- Strata Critical Medical issued 3,434,609 shares valued at approximately $16.8 million as part of the consideration for the Keystone Perfusion Services acquisition in September 2025.
Outbound Investments
- In September 2025, Strata Critical Medical acquired Keystone Perfusion Services for approximately $126.8 million, consisting of $109.963 million in cash and 3,434,609 shares valued at $16.828 million.
- The company divested its Passenger business to Joby Aviation in August 2025 for consideration valued at up to $125 million, which included $70.163 million in net cash proceeds from monetized Joby shares.
Capital Expenditures
- Capital expenditures totaled $3.2 million in the third quarter of 2025, primarily allocated to aircraft maintenance.
Trade Ideas
Select ideas related to SRTA.
| Date | Ticker | Company | Category | Trade Strategy | 6M Fwd Rtn | 12M Fwd Rtn | 12M Max DD |
|---|---|---|---|---|---|---|---|
| 01302026 | VEEV | Veeva Systems | Monopoly | MY | Getting CheaperMonopoly-Like with P/S DeclineLarge cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple | -14.6% | -14.6% | -15.7% |
| 01162026 | BIIB | Biogen | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | 19.5% | 19.5% | 0.0% |
| 01162026 | BMRN | BioMarin Pharmaceutical | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | 9.7% | 9.7% | 0.0% |
| 01162026 | DOCS | Doximity | Dip Buy | DB | CFO/Rev | Low D/EDip Buy with High Cash Flow MarginsBuying dips for companies with significant cash flows from operations and reasonable debt / market cap | -39.4% | -39.4% | -40.1% |
| 01022026 | CORT | Corcept Therapeutics | Dip Buy | DB | CFO/Rev | Low D/EDip Buy with High Cash Flow MarginsBuying dips for companies with significant cash flows from operations and reasonable debt / market cap | 4.6% | 4.6% | -9.1% |
Research & Analysis
Invest in Strategies
Wealth Management
Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 8.56 |
| Mkt Cap | 0.4 |
| Rev LTM | 313 |
| Op Inc LTM | -20 |
| FCF LTM | 11 |
| FCF 3Y Avg | -37 |
| CFO LTM | 17 |
| CFO 3Y Avg | 6 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 41.3% |
| Rev Chg 3Y Avg | 9.3% |
| Rev Chg Q | 31.2% |
| QoQ Delta Rev Chg LTM | 4.4% |
| Op Mgn LTM | -11.3% |
| Op Mgn 3Y Avg | -17.8% |
| QoQ Delta Op Mgn LTM | 1.8% |
| CFO/Rev LTM | 4.8% |
| CFO/Rev 3Y Avg | 6.6% |
| FCF/Rev LTM | 4.1% |
| FCF/Rev 3Y Avg | -17.5% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 0.4 |
| P/S | 1.8 |
| P/EBIT | -10.7 |
| P/E | 6.3 |
| P/CFO | 5.0 |
| Total Yield | 2.0% |
| Dividend Yield | 0.0% |
| FCF Yield 3Y Avg | -1.7% |
| D/E | 0.0 |
| Net D/E | -0.2 |
Returns
| Median | |
|---|---|
| Name | |
| 1M Rtn | -9.2% |
| 3M Rtn | 1.2% |
| 6M Rtn | -1.2% |
| 12M Rtn | 5.7% |
| 3Y Rtn | -3.3% |
| 1M Excs Rtn | -8.3% |
| 3M Excs Rtn | -5.7% |
| 6M Excs Rtn | -9.3% |
| 12M Excs Rtn | -6.8% |
| 3Y Excs Rtn | -68.8% |
Segment Financials
Revenue by Segment| $ Mil | 2024 | 2023 | 2022 |
|---|---|---|---|
| Medical | 127 | 72 | |
| Passenger | 99 | 74 | |
| MediMobility Organ Transport and Jet | 13 | ||
| Other | 0 | ||
| Short Distance | 9 | ||
| Total | 225 | 146 | 23 |
| $ Mil | 2024 | 2023 | 2022 |
|---|---|---|---|
| Medical | 11 | -3 | |
| SOX readiness costs | -0 | ||
| Executive severance costs | -0 | ||
| Legal and regulatory advocacy fees | -1 | ||
| Passenger | -5 | -14 | |
| Depreciation and amortization | -7 | ||
| Contingent consideration compensation (earn-out) | -10 | ||
| Stock-based compensation | -13 | ||
| Impairment of intangible assets | -21 | ||
| Adjusted unallocated corporate expenses and software development | -22 | -37 | |
| Total | -68 | -54 |
Earnings Returns History
Expand for More| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 11/10/2025 | 9.5% | 8.1% | 4.3% |
| SUMMARY STATS | |||
| # Positive | 1 | 1 | 1 |
| # Negative | 0 | 0 | 0 |
| Median Positive | 9.5% | 8.1% | 4.3% |
| Median Negative | |||
| Max Positive | 9.5% | 8.1% | 4.3% |
| Max Negative | |||
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 09/30/2025 | 11/10/2025 | 10-Q |
| 06/30/2025 | 08/05/2025 | 10-Q |
| 03/31/2025 | 05/12/2025 | 10-Q |
| 12/31/2024 | 03/13/2025 | 10-K |
| 09/30/2024 | 11/12/2024 | 10-Q |
| 06/30/2024 | 08/08/2024 | 10-Q |
| 03/31/2024 | 05/07/2024 | 10-Q |
| 12/31/2023 | 03/12/2024 | 10-K |
| 09/30/2023 | 11/08/2023 | 10-Q |
| 06/30/2023 | 08/09/2023 | 10-Q |
| 03/31/2023 | 05/11/2023 | 10-Q |
| 12/31/2022 | 03/16/2023 | 10-K |
| 09/30/2022 | 11/10/2022 | 10-Q |
| 06/30/2022 | 08/09/2022 | 10-Q |
| 03/31/2022 | 05/10/2022 | 10-Q |
| 12/31/2021 | 02/10/2022 | 10-QT |
Insider Activity
Expand for More| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Heyburn, William A | Co-CEO and CFO | Direct | Buy | 12102025 | 4.47 | 17,000 | 76,044 | 6,277,850 | Form |
| 2 | Lauck, Andrew | Direct | Buy | 12052025 | 4.37 | 5,000 | 21,825 | 592,077 | Form | |
| 3 | Love, Reginald | Direct | Sell | 11242025 | 4.37 | 11,000 | 48,070 | 497,730 | Form | |
| 4 | Love, Reginald | Direct | Sell | 11202025 | 4.31 | 11,000 | 47,434 | 538,581 | Form | |
| 5 | Tomkiel, Melissa M | President and General Counsel | Direct | Sell | 8052025 | 4.94 | 47,995 | 237,134 | 5,676,159 | Form |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
Prefer one of these to Trefis? Tell us why.