Strata Critical Medical, Inc.
For the period ended Mar 31, 2025. Filed May 12, 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.
Mar 31, 2025 · Filed May 12, 2025
SRTA$6.05+8.8%Stored close · as of Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Unaudited Interim
Unaudited Interim Condensed Consolidated Statements of Operations
(in thousands, except share and per share data)
| Three Months Ended March 31, | ||
|---|---|---|
| 2025 | 2024 | |
| Revenue | $54,306 | $51,514 |
| Operating expenses | ||
| Cost of revenue | 42,328 | 41,375 |
| Software development | 812 | 670 |
| General and administrative | 17,314 | 17,209 |
| Selling and marketing | 1,435 | 2,128 |
| Total operating expenses | 61,889 | 61,382 |
| Loss from operations | (7,583) | (9,868) |
| Other non-operating income | ||
| Interest income | 1,321 | 2,072 |
| Change in fair value of warrant liabilities | 2,752 | 3,478 |
| Total other non-operating income | 4,073 | 5,550 |
| Loss before income taxes | (3,510) | (4,318) |
| Income tax benefit | (17) | (84) |
| Net loss | $(3,493) | $(4,234) |
| Net loss per share (Note 6): | ||
| Basic | $(0.04) | $(0.06) |
| Diluted | $(0.04) | $(0.06) |
| Weighted-average number of shares outstanding: | ||
| Basic | 79,891,829 | 75,796,411 |
| Diluted | 79,891,829 | 75,796,411 |
Unaudited Interim Condensed Consolidated Statements of Comprehensive Loss
(in thousands)
| Three Months Ended March 31, | ||
|---|---|---|
| 2025 | 2024 | |
| Net loss | $(3,493) | $(4,234) |
| Other comprehensive income (loss): | ||
| Foreign currency translation adjustments for the period | 1,316 | (851) |
| Other comprehensive income / (loss) | 1,316 | (851) |
| Comprehensive loss | $(2,177) | $(5,085) |
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 January 1, 2025 | 79,419,028 | $7 | $407,076 | $1,753 | $(186,898) | $221,938 |
| Issuance of common stock upon exercise of stock options | 1,568,167 | — | 60 | — | — | 60 |
| Issuance of common stock upon settlement of restricted stock units | 1,465,407 | — | — | — | — | — |
| Stock-based compensation - restricted stock | — | — | 4,217 | — | — | 4,217 |
| Shares withheld related to net share settlement | (1,478,968) | — | (4,306) | — | — | (4,306) |
| Other comprehensive income | — | — | — | 1,316 | — | 1,316 |
| Net loss | — | — | — | — | (3,493) | (3,493) |
| Balance as of March 31, 2025 | 80,973,634 | $7 | $407,047 | $3,069 | $(190,391) | $219,732 |
| 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 | 508,181 | — | 91 | — | — | 91 |
| Issuance of common stock upon settlement of restricted stock units | 509,565 | — | — | — | — | — |
| Stock-based compensation | — | — | 4,318 | — | — | 4,318 |
| Shares withheld related to net share settlement | (12,119) | — | (37) | — | — | (37) |
| Issuance of common stock for settlement of contingent consideration compensation (earn-out) | 1,008,998 | — | 3,022 | — | — | 3,022 |
| Other comprehensive loss | — | — | — | (851) | — | (851) |
| Net loss | — | — | — | — | (4,234) | (4,234) |
| Balance as of March 31, 2024 | 77,146,050 | $7 | $397,477 | $3,113 | $(163,988) | $236,609 |
Unaudited Interim Condensed Consolidated Statements of Cash Flows
(in thousands)
| Three Months Ended March 31, | ||
|---|---|---|
| 2025 | 2024 | |
| Cash Flows From Operating Activities: | ||
| Net loss | $(3,493) | $(4,234) |
| Adjustments to reconcile net loss to net cash and restricted cash used in operating activities: | ||
| Depreciation and amortization | 1,697 | 1,594 |
| Stock-based compensation | 4,217 | 4,318 |
| Change in fair value of warrant liabilities | (2,752) | (3,478) |
| Gain on lease modification | — | (47) |
| Accretion of interest income on held-to-maturity securities | (723) | (1,481) |
| Deferred tax benefit | (17) | (84) |
| Bad debt expense | 30 | 31 |
| Other | 63 | 3 |
| Changes in operating assets and liabilities: | ||
| Prepaid expenses and other current assets | 2,254 | (416) |
| Accounts receivable | (520) | (2,609) |
| Other non-current assets | 13 | (44) |
| Operating right-of-use assets/lease liabilities | (30) | (27) |
| Accounts payable and accrued expenses | (2,278) | (10,237) |
| Deferred revenue | 1,293 | 1,160 |
| Net cash used in operating activities | (246) | (15,551) |
| Cash Flows From Investing Activities: | ||
| Capitalized software development costs | (532) | (311) |
| Purchase of property and equipment | (2,619) | (816) |
| Proceeds from disposal of property and equipment | 5 | — |
| Purchase of held-to-maturity investments | (84,197) | (77,051) |
| Proceeds from maturities of held-to-maturity investments | 107,750 | 102,740 |
| Net cash provided by investing activities | 20,407 | 24,562 |
| Cash Flows From Financing Activities: | ||
| Proceeds from the exercise of common stock options | 60 | 91 |
| Taxes paid related to net share settlement of equity awards | (4,306) | (37) |
| Net cash (used in) / provided by financing activities | (4,246) | 54 |
| Effect of foreign exchange rate changes on cash balances | 126 | (26) |
| Net increase in cash and cash equivalents and restricted cash | 16,041 | 9,039 |
| Cash and cash equivalents and restricted cash - beginning | 19,647 | 29,021 |
| Cash and cash equivalents and restricted cash - ending | $35,688 | $38,060 |
| Reconciliation to unaudited interim condensed consolidated balance sheets | ||
| Cash and cash equivalents | $34,830 | $36,758 |
| Restricted cash | 858 | 1,302 |
| Total cash and cash equivalents and restricted cash | $35,688 | $38,060 |
| Non-cash investing and financing activities: | ||
| New leases under ASC 842 entered into during the period | $608 | $2,581 |
| Common stock issued for settlement of earn-out previously in accounts payable and accrued expenses | — | 3,022 |
| Purchases of property and equipment and capitalized software in accounts payable and accrued expenses | 339 | 285 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.