$SRTA

Strata Critical Medical, Inc.

CIK:0001779128|SEC Filings

Unaudited Interim Condensed Consolidated Statements of Operations - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Income Statement [Abstract]
Revenue	$ 72,506	$ 45,108	$ 139,890	$ 81,056
Cost of revenue	57,291	36,101	110,558	64,996
Gross profit	15,215	9,007	29,332	16,060
Operating expenses
Selling, general and administrative	13,996	13,292	29,601	25,622
Amortization of intangible assets	6,627	356	8,113	764
Total operating expenses	20,623	13,648	37,714	26,386
Operating loss from continuing operations	(5,408)	(4,641)	(8,382)	(10,326)
Other non-operating income (loss)
Interest income, net	331	1,155	804	2,476
Change in fair value of warrant liabilities	71	77	1,530	2,829
Change in fair value of assets and other liabilities	(5,510)	0	(2,066)	0
Total other non-operating income (loss)	(5,108)	1,232	268	5,305
Loss from continuing operations before income taxes	(10,516)	(3,409)	(8,114)	(5,021)
Income tax expense from continuing operations	0	0	0	0
Net loss from continuing operations	(10,516)	(3,409)	(8,114)	(5,021)
Net loss from discontinued operations	0	(334)	(248)	(2,215)
Net Loss	$ (10,516)	$ (3,743)	$ (8,362)	$ (7,236)
Basic and diluted earnings (loss) per share
Continuing operations, basic (in dollars per share)	$ (0.12)	$ (0.04)	$ (0.10)	$ (0.06)
Continuing operations, diluted (in dollars per share)	(0.12)	(0.04)	(0.10)	(0.06)
Discontinued operations, basic (in dollars per share)	0	(0.01)	0	(0.03)
Discontinued operations, diluted (in dollars per share)	0	(0.01)	0	(0.03)
Total basic earnings (loss) per share (in dollars per share)	(0.12)	(0.05)	(0.10)	(0.09)
Total diluted earnings (loss) per share (in dollars per share)	$ (0.12)	$ (0.05)	$ (0.10)	$ (0.09)
Weighted-average number of shares outstanding:
Basic (in shares)	86,213,930	81,297,402	85,770,897	80,598,483
Diluted (in shares)	86,213,930	81,297,402	85,770,897	80,598,483

Unaudited Interim Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Cash Flows From Operating Activities:
Net loss	$ (8,362)	$ (7,236)
Adjustments to reconcile net loss to net cash and restricted cash used in operating activities:
Change in gain on sale of business	344	0
Depreciation and amortization	11,575	3,473
Stock-based compensation	8,741	9,566
Change in fair value of warrant liabilities	(1,530)	(2,829)
Change in fair value of other assets and liabilities	2,066	0
Accretion of interest income on held-to-maturity securities	(446)	(1,508)
Deferred tax expense (benefit)	(96)	4
Non-cash capital contribution	333	0
Other	126	428
Changes in operating assets and liabilities:
Prepaid expenses and other current assets	(194)	(1,650)
Accounts receivable	(517)	(6,777)
Other non-current assets	77	74
Operating right-of-use assets/lease liabilities	115	(61)
Accounts payable and accrued expenses	(2,645)	914
Deferred revenue	(15)	2,292
Net cash provided by / (used in) operating activities	9,572	(3,310)
Cash Flows From Investing Activities:
Acquisitions, net of cash acquired	(34,823)	0
Cash transfer related to sale of business	(290)	0
Capitalized software development costs	(616)	(961)
Purchase of property and equipment, net of proceeds from disposal	(7,669)	(4,849)
Purchase of held-to-maturity investments	(6,254)	(96,403)
Proceeds from maturities of held-to-maturity investments	30,500	151,300
Net cash (used in) / provided by investing activities (includes discontinued operations; see Note 5)	(19,152)	49,087
Cash Flows From Financing Activities:
Proceeds from the exercise of common stock options	55	74
Taxes paid related to net share settlement of equity awards	(4,788)	(5,457)
Payments for debt issuance costs	(338)	0
Net cash used in financing activities	(5,071)	(5,383)
Effect of foreign exchange rate changes on cash balances	0	277
Net (decrease) / increase in cash and cash equivalents and restricted cash	(14,651)	40,671
Cash and cash equivalents and restricted cash - beginning	31,232	19,647
Cash and cash equivalents and restricted cash - ending	16,581	60,318
Reconciliation to consolidated balance sheets
Cash and cash equivalents	16,317	58,754
Restricted cash	264	1,564
Total cash and cash equivalents and restricted cash	16,581	60,318
Supplemental cash flow information
Income Taxes paid	93	23
Non-cash investing and financing activities:
New leases under ASC 842 entered into during the period	1,317	1,200
Common stock issued for acquisition	4,267	0
Consideration payable in other current liabilities	2,950	0
Purchases of property and equipment and capitalized software in accounts payable and accrued expenses	$ 59	$ 234

Unaudited Interim Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Current assets:
Cash and cash equivalents	$ 16,317	$ 30,968
Restricted cash	264	264
Accounts receivable, net of allowance of $1,058 and $1,066 at June 30, 2026 and December 31, 2025, respectively	43,407	39,958
Short-term investments	6,436	30,263
Prepaid expenses and other current assets	54,586	24,739
Total current assets	121,010	126,192
Non-current assets:
Property and equipment, net	40,704	36,444
Intangible assets, net	60,008	47,502
Goodwill	106,946	88,210
Operating right-of-use asset	3,940	3,107
Other non-current assets	90	24,017
Total assets	332,698	325,472
Current liabilities:
Accounts payable and accrued expenses	18,381	19,142
Operating lease liability, current	1,054	652
Other current liabilities	26,344	0
Total current liabilities	45,779	19,794
Non-current liabilities:
Warrant liability	0	1,530
Operating lease liability, non-current	3,201	2,655
Deferred tax liability	271	348
Other non-current liabilities	4,129	22,073
Total liabilities	53,380	46,400
Commitments and Contingencies (Note 14)
Stockholders' Equity
Preferred stock, $0.0001 par value, 2,000,000 shares authorized; no shares issued and outstanding at June 30, 2026 and December 31, 2025, respectively	0	0
Common stock, $0.0001 par value; 400,000,000 authorized; 88,466,806 and 86,702,183 shares issued at June 30, 2026 and December 31, 2025, respectively	7	7
Additional paid in capital	433,224	424,616
Accumulated other comprehensive income	0	0
Accumulated deficit	(153,913)	(145,551)
Total stockholders' equity	279,318	279,072
Total liabilities and stockholders' equity	$ 332,698	$ 325,472