Strata Critical Medical Sees 83.5% Q4 Revenue Growth, Raises 2026 Guidance to $260M–$275M
Strata Critical Medical’s Q4 2025 revenue surged 83.5% year-over-year to $66.8 million, driven by 35.3% organic growth in its logistics segment and 90.0% jump in gross profit. Full-year 2025 revenue of $197.1 million and adjusted EBITDA of $14.1 million topped guidance, and 2026 revenue guidance was raised to $260–$275 million.
1. Q4 2025 Financial Performance
Revenue for Q4 2025 rose 83.5% year-over-year to $66.8 million, with logistics revenue up 35.3% to $49.2 million and transplant plus other clinical revenue contributing $17.6 million. Gross profit doubled to $14.4 million, lifting overall gross margin by 80 basis points to 21.6%.
2. Full-Year 2025 Results and Guidance Beat
Full-year 2025 revenue reached $197.1 million and adjusted EBITDA hit $14.1 million, each topping the high end of prior guidance. Net loss from continuing operations narrowed to $20.1 million, reflecting integration of Keystone and reclassification of the divested passenger business.
3. 2026 Outlook and Growth Drivers
Management raised 2026 revenue guidance to $260–$275 million and adjusted EBITDA guidance to $29–$33 million, aiming for at least 30% annualized Adjusted EBITDA growth. The company highlighted a robust M&A pipeline, with multiple acquisition targets under exclusivity at mid-single-digit EBITDA multiples.