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SeaStar Medical Holding (ICU) earnings and revenue breakdown
Latest: Q2 2026 · 10-Q filed Aug 12, 2026 · SeaStar Medical Holding (ICU) Q2 2026 earnings results →
Q2 2026 Revenue up 82% year over year to $615K · 607¢ of every $1 of revenue lost · operating margin -616.4%
SeaStar Medical Holding made $615K in Q2 2026 (+82% Y/Y). Operating margin -616.4%, net loss $3.7M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Aug 12, 2026.
Drawing the Sankey…
Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF
What changed this quarter
Revenue was $615K in Q2 2026, up 82% year over year and up 24% from the previous quarter.
Gross margin was 91.2%, down 0.8 points from Q2 2025. Operating costs exceeded revenue by $3.8M, an operating margin of -616.4%. Operating expenses grew 111% against revenue growth of 82%. The fastest-growing cost line was Research & development (+143%). The quarter ended with a net loss of $3.7M, wider than the previous quarter's $3.5M loss.
Operating cash flow was −$3.0M. Working capital and other items added $736K.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q2 2026 | 10-Q | Aug 12, 2026 | $615K | +82% | -616.4% | −$3.7M | −$3.0M |
| Q1 2026 | 10-Q | May 13, 2026 | $495K | +69% | -727.9% | −$3.5M | −$2.8M |
| Q4 2025 | 10-K | Mar 25, 2026 | $420K | +527% | -718.1% | −$2.9M | −$4.1M |
| Q3 2025 | 10-Q | Nov 13, 2025 | $183K | +169% | n/m | −$3.5M | −$3.8M |
| Q2 2025 | 10-Q | Aug 13, 2025 | $338K | — | -519.5% | −$2.0M | −$3.0M |
| Q1 2025 | 10-Q | May 14, 2025 | $293K | — | n/m | −$3.8M | −$2.7M |
| Q4 2024 | 10-K | Mar 27, 2025 | $67K | — | n/m | −$4.4M | −$4.7M |
Charts
Interactive views
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💵Where each $1 goesinteractive
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🌏Named in Asian annual reportsinteractive
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🔄Rotation against the market and its industry (RRG)interactive
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🔍Earnings qualityinteractive
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⚖️Fair value by methodinteractive
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🔭Outlook & guidanceinteractive
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📈Investments: gains and what it boughtinteractive
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🏭Its industry’s money flow (input-output)interactive
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About SeaStar Medical Holding
Unless the context otherwise requires, all references in this section to “SeaStar Medical”, the “Company”, “we” “us” or “our” refer to SeaStar Medical Holding Corporation and our consolidated subsidiaries following the Business Combination (as defined herein), other than certain historical information that refers to the business of SeaStar Medical, Inc. (the “Predecessor”) prior to the consummation of the Business Combination. We are a commercial-stage healthcare company focused on transformational treatments for critically ill patients facing organ failure and potential loss of life. Our Selective Cytopheretic Device (“SCD”) is designed as a disease-modifying device that neutralizes over-active immune cells and stops the cytokine storm that yields destructive hyperinflammation and creates a cascade of events that wreak havoc in the patient’s body.
In its own words, from its 10-K, filed Mar 25, 2026.
SeaStar Medical Holding against its Surgical & Medical Instruments & Apparatus peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +82% against the peers' median +5%. Operating margin: -616.4% against the peers' median 13.3%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| ICU SeaStar Medical Holding | Q2 2026 | $615K | +82% | -616.4% |
| MDLN Medline | Q3 2026 | $7.9B | +10% | 6.4% |
| MMM 3M | Q3 2026 | $6.6B | +1% | 23.7% |
| SYK Stryker | Q3 2026 | $6.5B | +8% | 15.9% |
| BSX Boston Scientific | Q3 2026 | $5.1B | +1% | 16.1% |
| BDX Becton Dickinson | Q3 FY26 | $5.0B | +5% | 13.3% |
| BAX Baxter International | Q3 2026 | $3.0B | +5% | 7.6% |
| SOLV Solventum | Q3 2026 | $1.9B | -7% | 3.5% |
| RMD ResMed | Q1 FY27 | $1.4B | +6% | 32.0% |
Source: SeaStar Medical Holding 10-Q on SEC EDGAR · CIK 1831868 · Surgical & Medical Instruments & Apparatus
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History
Every quarter: Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results · Q4 2024 results