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Strata Critical Medical (SRTA) earnings and revenue breakdown
Latest: Q3 2026 · 10-Q filed Nov 3, 2026 · Strata Critical Medical (SRTA) Q3 2026 earnings results →
Q3 2026 Revenue up 50% year over year to $74.1M · 10¢ of every $1 of revenue lost · operating margin -5.2%
Strata Critical Medical made $74.1M in Q3 2026 (+50% Y/Y): Logistics $44.9M, Clinical $29.2M. Operating margin -5.2%, net loss $7.6M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Nov 3, 2026.
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What changed this quarter
Revenue was $74.1M in Q3 2026, up 50% year over year and up 2% from the previous quarter. Logistics was the largest line at 61% of revenue. Clinical added $26.4M year over year (up 946%), 106% of the total change. Logistics declined 3%.
Gross margin was 22.7%, up 1.1 points from Q3 2025. Operating costs exceeded revenue by $3.8M, an operating margin of -5.2%. Operating expenses grew 27% against revenue growth of 50%. The fastest-growing cost line was Other operating costs (+1414%). The quarter ended with a net loss of $7.6M, narrower than the previous quarter's $10.5M loss.
Operating cash flow was $9.5M. Non-cash charges added back $7.3M of depreciation and amortization and $5.0M of share-based compensation. Working capital and other items added $4.7M. After capitalized software development costs ($415K) and purchase of property and equipment, net of proceeds from disposal ($400K), free cash flow as the company reports it was $8.6M.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q3 2026 | 10-Q | Nov 3, 2026 | $74.1M | +50% | -5.2% | −$7.6M | $9.5M |
| Q2 2026 | 10-Q | Aug 4, 2026 | $72.5M | +61% | -7.5% | −$10.5M | $5.7M |
| Q1 2026 | 10-Q | May 6, 2026 | $67.4M | +87% | -4.4% | $2.2M | $3.9M |
| Q4 2025 | 10-K | Mar 3, 2026 | $66.8M | +84% | -9.6% | −$8.8M | −$8.3M |
| Q3 2025 | 10-Q | Nov 10, 2025 | $49.3M | +37% | -11.4% | $57.4M | −$37.3M |
| Q2 2025 | 10-Q | Aug 5, 2025 | $70.8M | +4% | -7.0% | −$3.7M | −$3.1M |
| Q1 2025 | 10-Q | May 12, 2025 | $54.3M | +5% | -14.0% | −$3.5M | −$246K |
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About Strata Critical Medical
Strata Critical Medical, Inc.(f/k/a Blade Air Mobility, Inc.) (“Strata” or the “Company”) is a time-critical logistics and medical services provider to the United States healthcare industry. The Company operates one of the nation’s largest air transport and surgical services networks for transplant hospitals and organ procurement organizations, offering an integrated “one call” solution for donor organ recovery. Strata’s core services include air and ground logistics, organ placement, surgical organ recovery, normothermic regional perfusion and preservation for the transplant industry, as well as perfusion staffing and equipment solutions for cardiovascular surgery centers, offered under the Trinity Medical Solutions (“Trinity”) and Keystone Perfusion Services LLC (“Keystone”) brands.
In its own words, from its 10-K, filed Mar 3, 2026.
Strata Critical Medical against its Transportation Services peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +50% against the peers' median +12%. Operating margin: -5.2% against the peers' median 3.8%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| SRTA Strata Critical Medical | Q3 2026 | $74.1M | +50% | -5.2% |
| BKNG Booking Holdings | Q3 2026 | $8.9B | -1% | 38.4% |
| EXPE Expedia Group | Q3 2026 | $4.9B | +12% | 26.9% |
| GXO GXO Logistics | Q3 2026 | $3.6B | +6% | 2.7% |
| XPO XPO | Q3 2026 | $2.4B | +12% | 12.1% |
| RXO RXO | Q3 2026 | $1.9B | +32% | 0.9% |
| GMRS GMR Solutions | Q2 2026 | $1.5B | +3% | 3.8% |
| GBTG Global Business Travel Group | Q2 2026 | $870M | +38% | 2.8% |
| GATX Gatx | Q3 2026 | $598M | +36% | 32.2% |
Source: Strata Critical Medical 10-Q on SEC EDGAR · CIK 1779128 · Transportation Services
Guidance and outlook
13F: who owns SRTA and who is buying
More on SRTA
- How Strata Critical Medical makes money: revenue by segment
- Strata Critical Medical next earnings date and what analysts expect
- Strata Critical Medical stock forecast, price target and fair value
- Who owns Strata Critical Medical stock: holders, funds and Congress trades
- Strata Critical Medical guidance and outlook
- Is Strata Critical Medical a takeover target? LBO and rumors
History
Every quarter: Q3 2026 results · Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results
Compare SRTA with
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