Strata Critical Medical, Inc.
For the period ended Sep 30, 2025. Filed Nov 10, 2025.
View on SEC.govAbout this filing
A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2025 · Filed Nov 10, 2025
SRTA$6.05+8.8%Stored close · as of Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Unaudited Interim
Unaudited Interim Condensed Consolidated Statements of Operations
(in thousands, except share and per share data)
| Three Months Ended September 30, | Nine Months Ended September 30, | |||
|---|---|---|---|---|
| 2025 | 2024 | 2025 | 2024 | |
| Revenue | $49,298 | $36,062 | $130,354 | $110,429 |
| Operating expenses | ||||
| Cost of revenue | 37,684 | 28,554 | 100,898 | 85,854 |
| Software development | 453 | 417 | 1,354 | 1,031 |
| General and administrative | 16,301 | 13,869 | 42,954 | 39,140 |
| Selling and marketing | 482 | 314 | 1,096 | 1,025 |
| Total operating expenses | 54,920 | 43,154 | 146,302 | 127,050 |
| Operating loss from continuing operations | (5,622) | (7,092) | (15,948) | (16,621) |
| Other non-operating income (loss) | ||||
| Interest income | 1,127 | 1,764 | 3,603 | 5,624 |
| Change in fair value of warrant liabilities | 33 | (299) | 2,862 | 2,266 |
| Realized loss from sales of short-term investments | (5,195) | — | (5,195) | — |
| Total other non-operating income (loss) | (4,035) | 1,465 | 1,270 | 7,890 |
| Loss from continuing operations before income taxes | (9,657) | (5,627) | (14,678) | (8,731) |
| Income tax expense (benefit) from continuing operations | — | — | — | — |
| Net loss from continuing operations | (9,657) | (5,627) | (14,678) | (8,731) |
| Net income (loss) from discontinued operations | 67,073 | 3,673 | 64,858 | (8,783) |
| Net income (loss) | $57,416 | $(1,954) | $50,180 | $(17,514) |
| Basic and diluted earnings (loss) per share | ||||
| Continuing operations | $(0.12) | $(0.07) | $(0.18) | $(0.11) |
| Discontinued operations | $0.81 | $0.05 | $0.80 | $(0.11) |
| Total basic and diluted earnings (loss) per share | $0.70 | $(0.03) | $0.62 | $(0.23) |
| Weighted-average number of shares outstanding: | ||||
| Basic | 82,454,657 | 78,044,254 | 81,223,912 | 77,151,361 |
| Diluted | 82,454,657 | 78,044,254 | 81,223,912 | 77,151,361 |
Unaudited Interim Condensed Consolidated Statements of Comprehensive Income (Loss)
(in thousands)
| Three Months Ended September 30, | Nine Months Ended September 30, | |||
|---|---|---|---|---|
| 2025 | 2024 | 2025 | 2024 | |
| Net income (loss) | $57,416 | $(1,954) | $50,180 | $(17,514) |
| Other comprehensive income (loss): | ||||
| Foreign currency translation adjustments (Note 4) | (5,968) | 1,396 | (1,753) | 209 |
| Other comprehensive income (loss) | (5,968) | 1,396 | (1,753) | 209 |
| Comprehensive income (loss) | $51,448 | $(558) | $48,427 | $(17,305) |
Unaudited Interim Condensed Consolidated Statements of Stockholders' Equity
(in thousands, except share data)
| Common Stock · Additional Paid-In Capital · Accumulated Other Comprehensive Income · AccumulatedDeficit · TotalStockholders’Equity | ||||||
|---|---|---|---|---|---|---|
| Shares · Amount | ||||||
| Balance as of July 1, 2025 | 81,695,605 | $7 | $411,259 | $5,968 | $(194,134) | $223,100 |
| Issuance of common stock upon exercise of stock options | 365,652 | — | 65 | — | — | 65 |
| Issuance of common stock upon settlement of restricted stock units | 1,017,440 | — | — | — | — | — |
| Stock-based compensation - restricted stock | — | — | 1,825 | — | — | 1,825 |
| Shares withheld related to net share settlement | (462,389) | — | (1,852) | — | — | (1,852) |
| Issuance of common stock in acquisition | 3,434,609 | — | 8,414 | — | — | 8,414 |
| Other comprehensive loss | — | — | — | (5,968) | — | (5,968) |
| Net income | — | — | — | — | 57,416 | 57,416 |
| Balances as of September 30, 2025 | 86,050,917 | $7 | $419,711 | $— | $(136,718) | $283,000 |
| Balance as of July 1,2024 | 77,934,085 | $7 | $401,753 | $2,777 | $(175,151) | $229,386 |
| Issuance of common stock upon exercise of stock options | 59,000 | — | 11 | — | — | 11 |
| Issuance of common stock upon settlement of restricted stock units | 581,305 | — | — | — | — | — |
| Stock-based compensation - restricted stock | — | — | 5,402 | — | — | 5,402 |
| Shares withheld related to net share settlement | (260,367) | — | (742) | — | — | (742) |
| Repurchase and retirement of common stock | — | — | — | — | — | — |
| Other comprehensive income | — | — | — | 1,396 | — | 1,396 |
| Net loss | — | — | — | — | (1,954) | (1,954) |
| Balances as of September 30, 2024 | 78,314,023 | $7 | $406,424 | $4,173 | $(177,105) | $233,499 |
| Common Stock · Additional Paid-In Capital · Accumulated Other Comprehensive Income · AccumulatedDeficit · TotalStockholders’Equity | ||||||
|---|---|---|---|---|---|---|
| Shares · Amount | ||||||
| Balance as of January 1, 2025 | 79,419,028 | $7 | $407,076 | $1,753 | $(186,898) | $221,938 |
| Issuance of common stock upon exercise of stock options | 1,977,499 | — | 139 | — | — | 139 |
| Issuance of common stock upon settlement of restricted stock units | 3,468,117 | — | — | — | — | — |
| Stock-based compensation - restricted stock | — | — | 11,391 | — | — | 11,391 |
| Shares withheld related to net share settlement | (2,248,336) | — | (7,309) | — | — | (7,309) |
| Issuance of common stock in acquisition | 3,434,609 | — | 8,414 | — | — | 8,414 |
| Other comprehensive loss | — | — | — | (1,753) | — | (1,753) |
| Net income | — | — | — | — | 50,180 | 50,180 |
| Balances as of September 30, 2025 | 86,050,917 | $7 | $419,711 | $— | $(136,718) | $283,000 |
| Balance as of January 1, 2024 | 75,131,425 | $7 | $390,083 | $3,964 | $(159,754) | $234,300 |
| Issuance of common stock upon exercise of stock options | 690,463 | — | 124 | — | — | 124 |
| Issuance of common stock upon settlement of restricted stock units | 2,167,937 | — | — | — | — | — |
| Stock-based compensation - restricted stock | — | — | 15,367 | — | — | 15,367 |
| Shares withheld related to net share settlement | (604,698) | — | (1,765) | — | — | (1,765) |
| Issuance of common stock for settlement of contingent consideration compensation (earn-out) | 1,008,998 | — | 3,022 | — | — | 3,022 |
| Repurchase and retirement of common stock | (80,102) | — | (407) | — | 163 | (244) |
| Other comprehensive income | — | — | — | 209 | — | 209 |
| Net loss | — | — | — | — | (17,514) | (17,514) |
| Balances as of September 30, 2024 | 78,314,023 | $7 | $406,424 | $4,173 | $(177,105) | $233,499 |
See Notes to Unaudited Interim Condensed Consolidated Financial Statements
Unaudited Interim Condensed Consolidated Statements of Cash Flows
(in thousands)
| Nine Months Ended September 30, | ||
|---|---|---|
| 2025 | 2024 | |
| Cash Flows From Operating Activities: | ||
| Net income / (loss) | $50,180 | $(17,514) |
| Adjustments to reconcile net loss to net cash and restricted cash used in operating activities: | ||
| Gain on sale of business | (60,435) | — |
| Depreciation and amortization | 5,177 | 4,432 |
| Stock-based compensation | 11,246 | 15,367 |
| Change in fair value of warrant liabilities | (2,862) | (2,266) |
| Excess of lease liability over operating right-of-use assets | — | (123) |
| Transaction costs paid related to sale of business | (5,964) | — |
| Acquisition consideration allocated to seller transaction expenses | (44,339) | — |
| Impairment of intangible assets | — | 5,759 |
| Realized loss from sales of short-term investments | 5,195 | — |
| Realized foreign exchange gain | (798) | — |
| Accretion of interest income on held-to-maturity securities | (1,732) | (3,120) |
| Deferred tax expense (benefit) | 558 | (150) |
| Other | 388 | 87 |
| Changes in operating assets and liabilities: | ||
| Prepaid expenses and other current assets | 776 | 8,312 |
| Accounts receivable | (8,551) | (3,611) |
| Other non-current assets | 666 | 492 |
| Operating right-of-use assets/lease liabilities | (90) | 81 |
| Accounts payable and accrued expenses | 8,395 | (8,336) |
| Other current liabilities | 1,583 | (177) |
| Net cash used in operating activities | (40,607) | (767) |
| Cash Flows From Investing Activities: | ||
| Acquisitions, net of cash acquired | (65,174) | (2,230) |
| Cash transfer from sale of business | (1,241) | — |
| Capitalized software development costs | (1,258) | (1,660) |
| Purchase of property and equipment, net of proceeds from disposal | (7,747) | (26,286) |
| Purchase of held-to-maturity investments | (146,258) | (142,766) |
| Proceeds from maturities of held-to-maturity investments | 203,000 | 167,950 |
| Proceeds from sale of short-term investments | 70,163 | — |
| Net cash provided by / (used in) investing activities | 51,485 | (4,992) |
| Cash Flows From Financing Activities: | ||
| Proceeds from the exercise of common stock options | 139 | 124 |
| Taxes paid related to net share settlement of equity awards | (7,309) | (1,765) |
| Repurchase and retirement of common stock | — | (244) |
| Net cash used in financing activities | (7,170) | (1,885) |
| Effect of foreign exchange rate changes on cash balances | (339) | 29 |
| Net increase (decrease) in cash and cash equivalents and restricted cash | 3,369 | (7,615) |
| Cash and cash equivalents and restricted cash - beginning | 19,647 | 29,021 |
| Cash and cash equivalents and restricted cash - ending | $23,016 | $21,406 |
| Reconciliation to unaudited interim condensed consolidated balance sheets | ||
| Cash and cash equivalents | $22,753 | $20,028 |
| Restricted cash | 263 | 1,378 |
| Total cash and cash equivalents and restricted cash | $23,016 | $21,406 |
| Supplemental cash flow information | ||
| Cash paid for: | ||
| Income Taxes paid | $23 | $— |
| Non-cash financing and investing activities: | ||
| Common stock received for sale of business | $75,357 | — |
| Contingent consideration and indemnity holdback receivable from sale of business in contingent consideration and other non-current assets, respectively | 36,233 | — |
| New leases under ASC 842 entered into during the period | 1,597 | $8,545 |
| Contingent consideration in accounts payable and accrued expenses and other non-current liabilities | 9,215 | — |
|---|---|---|
| Common stock issued for acquisition | 8,414 | — |
| Purchases of property and equipment and capitalized software in accounts payable and accrued expenses | 518 | 3,479 |
| Derecognition of ROU assets and lease liability | — | (6,367) |
| Common stock issued for settlement of earn-out previously in accounts payable and accrued expenses | — | 3,022 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.