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Strata Critical Medical (SRTA) guidance and outlook
Strata Critical Medical (SRTA) lowered its guidance on Nov 3, 2026: Gross margin 20% for FY2026; Revenue $285M–$295M for FY2026; EBITDA $33.0M–$35.0M for FY2026; Free cash flow $15.0M–$22.0M for FY2026. Strata Critical Medical's 10-Q filed Nov 3, 2026 makes 12 forward-looking statements.
Guidance and outlook
Latest guidance
| Metric | Period | Range | Change |
|---|---|---|---|
| Gross margin | FY2026 | 20% | new |
| Revenue | FY2026 | +6.9% | lowered |
| Revenue | FY2026 | $285M–$295M | reaffirmed |
| EBITDA | FY2026 | $33.0M–$35.0M | reaffirmed |
| Free cash flow | FY2026 | $15.0M–$22.0M | reaffirmed |
From the earnings release filed Nov 3, 2026 (8-K on EDGAR).
Forward-looking statements, 10-Q filed Nov 3, 2026
- • our ability to realize the anticipated benefits of strategic transactions, including the recently completed divestiture of the Passenger business, the acquisition and integration of Keystone (as defined below), and any future acquisitions or partnerships;
- • advancements in preservation technology or alternative transport methods that could reduce demand for our services;
- The Company may receive up to an additional $17.5 million in consideration upon the satisfaction of certain employee retention targets described in the Joby Purchase Agreement within 18 months following the closing of this transaction, payable in cash or Buyer Shares at Joby Buyer’s election, as well as the release of up to $10.0 million in indemnity holdbacks.
- We typically provide logistics services to transplant centers, OPOs, and other businesses on a contractual basis including provisions stipulating that Strata will be the “first call” for any transportation needs.
- We have invested in a limited number of owned aircraft based in high-volume geographies as we believe direct asset ownership will enable (i) improved economies of scale; (ii) increased uptime, enabling more reliable service and higher asset utilization; and (iii) the ability to compete for certain contracts where asset ownership is preferred or required.
- We size our owned fleet and our commitments under CPAs significantly below our expected demand, enabling us to maximize utilization on those aircraft while fulfilling incremental demand through our network of non-dedicated operators.
- However, there is no guarantee that we will continue to be able to secure dedicated aircraft at favorable rates, particularly given significant increases in demand for private jet aircraft in the United States in recent years.
- Although this has not limited our ability to maintain or increase our access to dedicated jet aircraft at fixed prices in recent periods, there is no guarantee this will continue in the future.
- We have historically passed through cost inflation to customers and most logistics contracts with customers automatically pass through any fuel surcharges, but there is no guarantee this will continue in the future.
- With $41.6 million of total liquid funds as of September 30, 2026, we anticipate that we have sufficient funds to meet our current operational needs for at least the next 12 months from the date this Quarterly Report is filed.
- Additionally, the Company has operating lease obligations related to real estate and vehicles with expected annual minimum lease payments of $0.3 million and $1.1 million for the years ending December 31, 2026 and 2027, respectively.
- Based on our current liquidity, we believe that no additional capital will be needed to execute our current business plan over the next 12 months.
Strata Critical Medical's latest quarter
Strata Critical Medical, Q3 2026: revenue $74.1M (+50% year over year), operating margin -5.2%, net loss $7.6M, operating cash flow $9.5M. The chart follows the revenue to costs, profit and cash.
Questions
Did Strata Critical Medical raise or lower its guidance?
Strata Critical Medical (SRTA) lowered its guidance on Nov 3, 2026: Gross margin 20% for FY2026; Revenue $285M–$295M for FY2026; EBITDA $33.0M–$35.0M for FY2026; Free cash flow $15.0M–$22.0M for FY2026.
What does Strata Critical Medical expect?
• our ability to realize the anticipated benefits of strategic transactions, including the recently completed divestiture of the Passenger business, the acquisition and integration of Keystone (as defined below), and any future acquisitions or partnerships; • advancements in preservation technology or alternative transport methods that could reduce demand for our services; The Company may receive up to an additional $17.5 million in consideration upon the satisfaction of certain employee retention targets described in the Joby Purchase Agreement within 18 months following the closing of this t
Updated Nov 8, 2026. Read automatically from SEC filings and public data; errors are possible. Not investment advice.