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Sep 30
Strata Critical Medical Q3 2025 Earnings Report
Strata Critical Medical reported a wider net loss in Q3 2025, despite strong revenue growth and improved margins.
Key Takeaways
Strata Critical Medical saw revenue jump 36.7% year-over-year to $49.3 million in Q3 2025. However, net loss widened to $9.7 million due to increased legal and investment-related expenses. Flight profit and margins improved, and the company posted record Medical Segment Adjusted EBITDA.
Revenue rose 36.7% YoY to $49.3 million, driven by Air and Ground Logistics growth.
Net loss widened to $9.7 million, largely due to legal reserves and realized investment losses.
Adjusted EBITDA surged to $4.2 million, up from $67K a year ago.
Medical Segment Adjusted EBITDA reached $7.6 million, with a margin of 15.3%.
Strata Critical Medical
Strata Critical Medical
Forward Guidance
Strata raised its 2025 revenue guidance and reaffirmed Adjusted EBITDA expectations, supported by strong organic growth and the integration of Keystone Perfusion.
Positive Outlook
- 2025 revenue guidance raised to $185–195 million.
- Adjusted EBITDA guidance reaffirmed at $13–14 million.
- Strong customer adoption of new services post-Keystone acquisition.
- Market share gains despite industry seasonal softness.
- Continued growth in organ transplant procedures using NRP technology.
Challenges Ahead
- Net loss increased year-over-year due to legal and investment losses.
- Operating loss remained at $5.6 million despite revenue growth.
- Realized $5.2 million loss from sale of short-term investments.
- Legal reserves contributed significantly to higher expenses.
- Adjusted corporate expenses remained high at $3.3 million.