Strata Critical Medical Inc
stratacritical.comStrata Critical Medical Inc (NASDAQ: SRTA) is a medical air logistics company that coordinates time-sensitive transportation of organs, medical personnel, and related clinical services for transplant centers, hospitals, and Organ Procurement Organizations. Revenue comes from fee-for-service billings for Logistics services and a combination of fee-for-service and retainer arrangements for Clinical services, with payments collected after service completion via checks and wires. The company operates an asset-light model, primarily utilizing aircraft owned and flown by third-party operators under pre-negotiated fixed hourly rates and capacity purchase agreements, rather than owning the fleet outright. In 2024, Strata acquired ten fixed-wing aircraft, adding owned capacity alongside its operator network. As of August 29, 2025, Strata sold its Passenger business to Joby Aero, Inc. for approximately $76.0 million in Joby Aviation stock, subsequently liquidated for net proceeds of $70.2 million, with up to $35.0 million in additional contingent consideration. Co-Chief Executive Officers Melissa M. Tomkiel and William A. Heyburn signed the 10-K filed March 3, 2026.
Products & Services
Medical air logistics coordination for organ transport, ground transportation coordination, Clinical services supporting transplant operations, proprietary technology platform for logistics coordination and data tracking, capacity purchase agreements with third-party aircraft operators.
Revenue Model
Fee-for-service billings for Logistics segment services, recognized upon service completion. Clinical segment billed on both fee-for-service and retainer basis, with retainer revenue recognized ratably over the contract term. Payments collected post-service via checks and wires.
Customers & Markets
Transplant centers, hospitals, and Organ Procurement Organizations (OPOs). End market is time-sensitive organ and medical logistics within the U.S. transplant ecosystem.
Geographic Exposure
United States. No specific international geographic breakdown supported by the filing excerpts.
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