Strata Critical Medical, Inc. · NASDAQ:SRTA
Strata Critical Medical — Investor Day (November 2025)
171 slides from Strata Critical Medical's investor day presentation, November 2025
Slide 1: Investor Day
STRATACRITICAL MEDICAL SOLUTIONS LOGISTICS Investor Day November 2025
Slide 2: Agenda
Agenda Slide 1 Business Overview & Key Investment Highlights 2 How Organ Transplantation Works 3 Logistics Services 4 Organ Recovery Clinical Services 5 Organ Placement Services 6 Cardiac Care Clinical Services 7 Regulatory Update 8 Technology 9 Unit Economics & Contract Structure 10 Financial Perfo
Slide 3: Forward Looking Statements
FORWARD LOOKING STATEMENTS This presentation contains “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include all statements that are not historical facts and may be identified by the
Slide 4: Co-CEOs Will Heyburn and Melissa Tomkiel
Co-CEOs Will Heyburn and Melissa Tomkiel Will Heyburn Melissa Tomkiel Co-CEO & CFO Co-CEO & General Counsel 4
Slide 5: Business Overview & Key Investment Highlights
Business Overview & Key Investment Highlights
Slide 6: Strata is a time-critical logistics and medical services provider
Strata is a time-critical logistics and medical services provider to the U.S. healthcare industry. We operate one of the nation’s largest air transport and surgical services networks for transplant hospitals and organ procurement organizations, offering an integrated “one call” solution for donor or
Slide 7: Our mission is to increase organs transplanted
Our mission is to increase the number of organs that are successfully transplanted while leveraging our expertise and resources to provide other medical and logistics services to a broader customer base. Our goals are closely aligned with those of all participants in the transplant ecosystem. When S
Slide 8: Strata's Diversified Healthcare Offerings
Strata’s Diversified Healthcare Offerings Strata is a market leader in the fastest-growing parts of the organ transplant industry 2025E Pro Forma Revenue Mix(1) Business Lines Transplant Air Logistics Largest air transporter of hearts, livers, and lungs in America with 30+ owned & dedicated aircraft
Slide 9: Strata's Role in the Organ Transplant Process
Strata’s Role in the Organ Transplant Process Mission-critical role in life-saving transplant industry, built on trust and long-term partnerships with customers Strata Service Offerings(1) Donor Organ Recovery / Logistics Transplant Identification Placement Perfusion • Donor identification • Organ o
Slide 10: Strata's Role in the Organ Transplant Process
Strata’s Role in the Organ Transplant Process Mission-critical role in life-saving transplant industry, built on trust and long-term partnerships with customers Strata Service Offerings(1) Donor Organ Recovery / Logistics Transplant Identification Placement Perfusion • Donor identification • Organ o
Slide 11: Strata's Role in the Organ Transplant Process
Strata’s Role in the Organ Transplant Process Mission-critical role in life-saving transplant industry, built on trust and long-term partnerships with customers Strata Service Offerings(1) Donor Organ Recovery / Logistics Transplant Identification Placement Perfusion • Donor identification • Organ o
Slide 12: Strata's Role in the Organ Transplant Process
Strata’s Role in the Organ Transplant Process Mission-critical role in life-saving transplant industry, built on trust and long-term partnerships with customers Strata Service Offerings(1) Donor Organ Recovery / Logistics Transplant Identification Placement Perfusion • Donor identification • Organ o
Slide 13: Significant Room for Market Share Gain
Significant Room for Market Share Gain Organ Recovery / Logistics Placement Perfusion 2025 TAM(2) ~$100mm ~$850mm ~$650mm ~30% in Air Strata Market Share(2) ~5% <10% ~15% in Ground 1. Process applies to the heart, liver, and lungs; however, there are notable differences when it comes to the kidneys
Slide 14: Strata's Integrated, Full-Service Organ Services Offering
Strata’s Integrated, Full-Service Organ Services Offering Strata is the only end-to-end organ services platform, offering a one-call solution that simplifies an increasingly complex industry for customers, with multiple avenues to outgrow the broader market Strata is the only full-stack, technology
Slide 15: Strata's Transplant Services Nationwide Footprint
Strata’s Transplant Services Nationwide Footprint Locally-based service model saves money and improves efficiency. Assets strategically positioned near the nation’s largest transplant centers and population hubs Aviation Bases Ground Bases Perfusion & NRP Hubs Surgical Recovery Resources 15
Slide 16: Differentiated Model Poised for Outsized Growth
Differentiated Model Poised for Outsized Growth Strata is a true partner to our customers, delivering a “one call,” solution with end-to-end capabilities while also supporting any combination of vendors a customer may choose to effectuate a life-saving organ transplant Industry Norm Strata Approach
Slide 17: Differentiated Model Poised for Outsized Growth
Differentiated Model Poised for Outsized Growth Strata is a true partner to our customers, delivering a “one call,” solution with end-to-end capabilities while also supporting any combination of vendors a customer may choose to effectuate a life-saving organ transplant Industry Norm Strata Approach
Slide 18: Differentiated Model Poised for Outsized Growth
Differentiated Model Poised for Outsized Growth Strata is a true partner to our customers, delivering a “one call,” solution with end-to-end capabilities while also supporting any combination of vendors a customer may choose to effectuate a life-saving organ transplant Industry Norm Strata Approach
Slide 19: Differentiated Model Poised for Outsized Growth
Differentiated Model Poised for Outsized Growth Strata is a true partner to our customers, delivering a “one call,” solution with end-to-end capabilities while also supporting any combination of vendors a customer may choose to effectuate a life-saving organ transplant Industry Norm Strata Approach
Slide 20: Differentiated Model Poised for Outsized Growth
Differentiated Model Poised for Outsized Growth Strata is a true partner to our customers, delivering a “one call,” solution with end-to-end capabilities while also supporting any combination of vendors a customer may choose to effectuate a life-saving organ transplant Industry Norm Strata Approach
Slide 21: Strata Investment Highlights
Strata Investment Highlights Market Leader with Differentiated Model ✓ Only end-to-end, one-call solution for organ recovery supporting all perfusion options ✓ Nationwide scale with locally-based service model reduces cost and improves reliability for customers ✓ Trusted partner to customers aligned
Slide 22: Strata Investment Highlights
Strata Investment Highlights Market Leader with Differentiated Model ✓ Only end-to-end, one-call solution for organ recovery supporting all perfusion options ✓ Nationwide scale with locally-based service model reduces cost and improves reliability for customers ✓ Trusted partner to customers aligned
Slide 23: Americans Are in Dire Need of Organs
Americans Are in Dire Need of Organs 107K+ Americans currently on transplant waitlist ~4.5 million Americans with chronic liver disease and cirrhosis who are not currently eligible for a transplant Source: Organ Procurement and Transplantation Network (OPTN), Center for Disease Control (CDC) 23
Slide 24: Failure is Tragic and Transplant Saves Lives
Failure is Tragic and Transplant Saves Lives ~13 people die each day waiting for an organ transplant(1) (1) United Network for Organ Sharing https://unos.org/news/waitlist-deaths-decrease-a-shared-success-by-the-organ-donation-and-transplant-community-supported-by-unos/ 24
Slide 25: Transplant is a Win-Win
Transplant is a Win-Win 48K+ lives saved per year from organ transplant(1) (1) 2024 Organ Transplants 25
Slide 26: Matching is Prioritizing Sicker Patients over Closer Ones
Matching is Prioritizing Sicker Patients over Closer Ones Donor Service Areas Acuity Circles Continuous Distribution (1984-2017) (2017-present) (2023-present) Miles (Diameter) 1000 500 250 • Organs allocated first to patients • Replaced DSAs with concentric • Points based system prioritizes within a
Slide 27: Organs Are Traveling Longer Distances
Organs Are Traveling Longer Distances U.S. Heart, Liver & Lung Average Transplant Distance, Indexed to 2018(1) 64% Distance Organ Traveled Cumulative % Change in 52% 33% 32% 26% 12% 2018 2019 2020 2021 2022 2023 2024 1. Change in distance calculated using mean straight-line distance between organ pr
Slide 28: Perfusion Technology Unlocking Organ Donor Pool
Perfusion Technology Unlocking Organ Donor Pool Normothermic Regional Perfusion (NRP) Machine Perfusion 28
Slide 29: Perfusion Technology Expanding Donor Pool and Increasing Organ Supply
Perfusion Technology Expanding Donor Pool and Increasing Organ Supply 16,934 8,292 ~16K Transplants 10,721 2,132 ~4K Transplants 8,589 8,642 ~26K Transplants ~25K Transplants 2018 2025E DBD Donors DCD Donors Source: Data provided by the Organ Procurement and Transplantation Network (OPTN). 2025E fig
Slide 30: Perfusion Penetration Rates Still Low With Room For Upside
Perfusion Penetration Rates Still Low With Room For Upside Perfusion Penetration Rates Benchmark: Low-Cost Perfusion is Available for Kidneys and used in 70% of kidney transplants 70.0% 40.8% Jan-20 Jul-20 Jan-21 Jul-21 Jan-22 Jul-22 Jan-23 Jul-23 Jan-24 Jul-24 Jan-25 Jul-25 NRP Utilization Kidney T
Slide 31: Machine Perfusion Pipeline Strong, Costs Expected To Come Down
Machine Perfusion Pipeline Strong, Costs Expected To Come Down Number of heart, liver, or lung machine perfusion devices approved by the FDA 13 Strata estimate based on current pipeline 6 5 5 5 4 2 2 1 2018 2019 2020 2021 2022 2023 2024 2025 2030E Number of Perfusion Devices (cumulative) Source: Man
Slide 32: Transplant Volumes Increasing Mid-to-High Single Digits
Transplant Volumes Increasing Mid-to-High Single Digits U.S. Heart, Liver, Lung Transplants by Organ Type (‘000s) Pre-perfusion era Post-perfusion era Forecast Period (2010 – 2021) (2021 – 2025E) (2025E – 2028E) 3.6% CAGR 7.1% CAGR 6.7% CAGR 24.1 22.4 20.8 19.8 18.8 17.6 15.8 14.7 14.7 15.1 13.8 13.
Slide 33: Transplant Total Addressable Market
Transplant Total Addressable Market Transplant U.S. TAM(1) ~$0.7B incremental TAM from non-transplant healthcare Logistics $2.0B Surgical & Clinical Services $1.5B ~1.0B Perfusion & Preservation ~0.6B Mission Critical ~0.3B Healthcare Staffing ~0.2B ~0.6B ~0.7B 2025 2028 Note: The total addressable
Slide 34: Strata Financial Outlook
Strata Financial Outlook Conservative assumptions provide foundation for high-teens Adj. EBITDA CAGR in the medium-term Significant catalysts Conservative assumptions provide building blocks provide foundation for for outperformance and 2026 and medium-term are not incorporated in guidance Opportuni
Slide 35: Armed for Capital Deployment
Armed for Capital Deployment Significant capital deployment opportunity not underwritten in financial guidance Estimated $200 million available for deployment through 2029 Estimated Borrowing ~$60M Capacity(1) Estimated Aggregate Cash ~$90M Flow (2) Current Cash & Equivalents, ~$50M Net of Minimum C
Slide 36: Strata Financial Outlook – With Capital Deployment
Strata Financial Outlook – With Capital Deployment Organic growth plus capital deployment could result in a tripling of Adjusted EBITDA in the Medium Term, assuming zero growth or synergy in the acquired companies 75% of available capital deployed at mid-single digit multiples could add an additiona
Slide 37: Capital Deployment Philosophy
Capital Deployment Philosophy Prioritizing low-risk roll-up opportunities with known industry participants that have demonstrated the highest quality service delivery in a specific region Established, profitable businesses in our core service lines Verifiable track records of regional excellence Add
Slide 38: Capital Deployment Priorities
Capital Deployment Priorities Attractive roll-up opportunity at mid-single-digit EBITDA multiples will help improve local-service footprint and improve shareholder returns ▪ Subscale, regional providers of NRP, surgical recovery organ placement or preservation. Targets number in the single digits. T
Slide 39: Capital Deployment Priorities
Capital Deployment Priorities Attractive roll-up opportunity at mid-single-digit EBITDA multiples will help improve local-service footprint and improve shareholder returns ▪ Subscale, regional providers of NRP, surgical recovery organ placement or preservation. Targets number in the single digits. T
Slide 40: Capital Deployment Priorities
Capital Deployment Priorities Attractive roll-up opportunity at mid-single-digit EBITDA multiples will help improve local-service footprint and improve shareholder returns ▪ Subscale, regional providers of NRP, surgical recovery organ placement or preservation. Targets number in the single digits. T
Slide 41: Capital Deployment Priorities
Capital Deployment Priorities Attractive roll-up opportunity at mid-single-digit EBITDA multiples will help improve local-service footprint and improve shareholder returns ▪ Subscale, regional providers of NRP, surgical recovery organ placement or preservation. Targets number in the single digits Tr
Slide 42: Strata Investment Highlights
Strata Investment Highlights Market Leader with Differentiated Model ✓ Only end-to-end, one-call solution for organ recovery supporting all perfusion options ✓ Nationwide scale with locally-based service model reduces cost and improves reliability for customers ✓ Trusted partner to customers aligned
Slide 43: The Path to Strata's Present: 2014 Founded
The Path to Strata’s Present 2014: Strata (formerly known as “Blade”) Founded 43
Slide 44: The Path to Strata's Present: 2019 Organ Transport
The Path to Strata’s Present 2019: Organ Transport Business Launched with NYU Langone 44
Slide 45: The Path to Strata's Present: 2021 Go-Public
The Path to Strata’s Present 2021: Go-Public Transaction 45
Slide 46: The Path to Strata's Present: 2021 Trinity
The Path to Strata’s Present 2021: Acquired Trinity Medical Services 46
Slide 47: The Path to Strata's Present: Passenger Divested
The Path to Strata’s Present August 2025: Divested Passenger Business 47
Slide 48: The Path to Strata's Present: Rebrand
The Path to Strata’s Present August 2025: Rebrand to Strata and Ticker Change 48
Slide 49: The Path to Strata's Present: Keystone Acquisition
The Path to Strata’s Present September 2025: Keystone Acquisition 49
Slide 50: The Path to Strata's Present
The Path to Strata’s Present 2019: Organ 2021: Acquired August 2025: Transport Business Trinity Medical Rebrand to Strata Launched with NYU Services and Ticker change Langone 2014: Blade 2021: Go August 2025: September Founded Public Divested 2025: Transaction Passenger Keystone Business Acquisition
Slide 51: Agenda
Agenda Slide 1 Business Overview & Key Investment Highlights 2 How Organ Transplantation Works 3 Logistics Services 4 Organ Recovery Clinical Services 5 Organ Placement Services 6 Cardiac Care Clinical Services 7 Regulatory Update 8 Technology 9 Unit Economics & Contract Structure 10 Financial Perfo
Slide 52: Management Team Biographies
Management Team Biographies Will Heyburn Melissa Tomkiel Amir Cohen Mathew Schneider Co-CEO & CFO Co-CEO and General Counsel Chief Accounting Officer CFO, Clinical Services VP of Finance & Investor Relations Scott Wunsch Andrew Marreel Jamie Bucio Eric Moore CEO, Logistics Director of Business Devel
Slide 53: How Organ Transplantation Works
How Organ Transplantation Works
Slide 54: Transplant Centers
Transplant Centers Transplant Center Role in Transplant Ecosystem • Evaluate candidates and manage organ waitlists • Manage organ offers • Recover organs, perform transplants, and provide post-transplant care • Services provided in-house or via third-party ~250 in the U.S. providers and OPOs 54
Slide 55: Organ Procurement Organizations
Organ Procurement Organizations OPOs Role in Transplant Ecosystem • Identify and evaluate eligible potential donors within its donor service area (DSA) • Obtain family authorization for organ donation • Allocate organs to transplant centers per regulatory policy 55 in the U.S. • Provide or coordinat
Slide 56: Donor Hospitals
Donor Hospitals Donor Hospital Role in Transplant Ecosystem • Identify and refer potential donors to OPOs • Maintain donor stability until organ recovery • Support OPO and transplant teams during organ recovery Thousands in the U.S. 56
Slide 57: Organ Transplant Landscape Overview
Organ Transplant Landscape Overview Organ Procurement Transplant Organizations (OPO) Centers ~55 in U.S. ~250 in U.S. Service Providers ▪ Logistics ▪ Surgical recovery ▪ Normothermic Regional Perfusion Donor Hospitals ▪ Machine perfusion Thousands in U.S. ▪ Organ placement services ▪ Diagnostics 57
Slide 58: Hospital identifies a potential donor
Hospital identifies a potential donor Donor Hospitals 58
Slide 59: Organ Procurement Organizations (OPO)
Organ Procurement Organizations (OPO) Hospital flags potential donor to OPO with responsibility for their DSA Donor Hospitals 59
Slide 60: Organ Procurement Organizations (OPO)
Organ Procurement Organizations (OPO) OPO sends team and equipment to hospital to evaluate potential donor, obtain family authorization Donor Hospitals 60
Slide 61: Organ Procurement Organizations (OPO)
Organ Procurement Organizations (OPO) OPO sends team and equipment to hospital to evaluate potential donor, obtain family authorization Service Providers Donor Hospitals ▪ Logistics ▪ Diagnostics 61
Slide 62: Transplant Centers
Transplant Organ Procurement Centers Organizations (OPO) OPO makes an organ offer to transplant center with matching recipient based on federally mandated allocation methodology 62
Slide 63: Transplant Centers
Transplant Organ Procurement Centers Organizations (OPO) OPO makes an organ offer to transplant center with matching recipient based on federally mandated allocation methodology Service Providers ▪ Organ placement services 63
Slide 64: Once the offer is accepted
Once the offer is accepted, the OPO will prepare the donor for the recovery procedure and set an OR time for the procurement. Each of the organs will likely match to a different patient at different transplant center and each will come to pick up their respective organ Organ Procurement Organization
Slide 65: Once the offer is accepted
Once the offer is accepted, the OPO will prepare the donor for the recovery procedure and set an OR time for the procurement. Each of the organs will likely match to a different patient at different transplant center and each will come to pick up their respective organ Organ Procurement Organization
Slide 66: The procurement process is completed
The procurement process is completed by the transplant center’s surgeons or a third-party. In Donation after Circulatory Death, NRP may be performed prior to removing the organs. Immediately after each organ is removed, it is flown in its own aircraft on ice, in a perfusion machine or in a preservat
Slide 67: Donor State: Donation After Brain Death
Donor Hospital Care Team Donor State Perfusion Responsibility Pre-Recovery Donation After Machine perfusion may be As Donor is legally dead, Donor has no brain activity utilized for long-distance Brain Death recovery team can begin and is legally deceased transports or marginal organs (DBD) procurem
Slide 68: Organ Transplant Landscape Overview
Organ Transplant Landscape Overview Organ Procurement Transplant Organizations (OPO) Centers ~55 in U.S. ~250 in U.S. Service Providers ▪ Logistics ▪ Surgical recovery ▪ Normothermic Regional Perfusion Donor Hospitals ▪ Machine perfusion Thousands in U.S. ▪ Organ placement services ▪ Diagnostics 68
Slide 69: Strata's Product Offerings
Strata’s Product Offerings Strata Service Offerings Donor Organ Recovery / Logistics Transplant Identification Placement Perfusion ➢ Organ Placement ➢ Normothermic ➢ Air Logistics Services Regional Perfusion ➢ Ground Logistics ➢ Surgical Recovery ➢ Next Flight Out (NFO) ➢ Hand Carry 69
Slide 70: Logistics Services
(\, STRATACRITICAL MEDICAL SOLUTIONS + LOGISTICS Logistics Services
Slide 71: Strata & Trinity Partnership Drove Growth Acceleration
Strata & Trinity Partnership Drove Growth Acceleration Medical Segment Trailing Twelve Months Revenue ($mm)(1) Drivers of Success $167 ➢ Partnership Approach ➢ Strata aviation expertise & access to aircraft capacity ➢ Capital for Strata investment in aircraft acquires and vehicles Trinity $6 Q3 21 Q
Slide 72: Logistics Services Overview
Logistics Services Overview Key Stats Aircraft Fleet (Owned Ground Vehicles Logistics Operations Proprietary Tech Missions Completed + Dedicated) (Owned) Center Platform ~30 >50 24/7 “TAC” >90k Air Logistics Ground Logistics ▪ 24/7 logistics operations center ▪ >50 ground vehicles located at ~11 gro
Slide 73: Transplant Complexity Has Driven Logistics Complexity
SURGICAL RECOVERY SERVICE TRANSPLANT PROVIDERS COMPLEXITY HAS DRIVEN LOGISTICS INCREASING OPOS LOGISTICS TRANSPLANT CENTERS LOGISTICS STRATEGIC VALUE MACHINE PERFUSION OEMS 73
Slide 74: True One Call Solution for the Transplant Community
True “One Call” Solution for the Transplant Community TRANSPLANT CASE 74
Slide 75: Scale, Infrastructure and Fleet Diversity Enables Savings
Scale, Infrastructure and Fleet Diversity Enables Customer Cost Savings Nationwide Logistics Network Florida Based Customer Example Alternate Air Base Jacksonville International Strata Air Base (KJAX) Customer Location Gainesville Regional (KGNV) Repositioning savings: ~$5K / Trip 75
Slide 76: Safety First Overview
Safety First Overview Safety Rating & Safety Team Safety Culture Standards ▪ Chief of Safety with 35+ ▪ Reports directly to Co- ▪ Owned fleet operator is years experience CEO rated Argus Platinum ▪ 25+ years military ▪ Safety prioritized over ▪ Policies exceed FAA service (Army & Coast cost or conve
Slide 77: Key Logistics Growth Initiatives
Key Logistics Growth Initiatives Air Ground Kidney ▪ ~30% market share ▪ ~15% market share ▪ Expand kidney next flight out ▪ New customer acquisition ▪ Expand ground hubs & OPO (NFO) and hand carry customer base customer base ▪ Tissue donation ground logistics 77
Slide 78: Air Customer Acquisition Opportunity
Air Customer Acquisition Opportunity Organ placement and recovery services drives new customer acquisition opportunities Strata Market Share Remaining Market Potential RFPs 10% Strata has maintained an ~80% win-rate on RFPs Serviced by non-scalable operators 20% Informal local Part 135 partnerships.
Slide 79: Significant Opportunity to Expand Ground Hubs & OPO Customer Base
Significant Opportunity to Expand Ground Hubs & OPO Customer Base Ground Bases 79
Slide 80: Kidney & Time-Critical Logistics Opportunity
Kidney & Time-Critical Logistics Opportunity Kidney Time Critical Logistics ▪ Next Flight Out (NFO) and Hand ▪ Leverage Strata’s existing logistics network, already proven with the Carry services offered most time-critical of missions ▪ Currently ~35 and growing ▪ Key focus verticals: Radiopharma, c
Slide 81: Enhanced Margins from Aircraft Ownership
Enhanced Margins from Aircraft Ownership Mid 14% 13.1% 8.5% 7.5% 7.1% 2021 2022 2023 2024 2025E Strata begins to own aircraft Strata Medical Segment Adj. EBITDA % Note: See “Use of Non-GAAP Information” in the Appendix of this presentation for an explanation of Non-GAAP measures used and reconciliat
Slide 82: Aircraft Ownership Return and Growth Opportunity
Aircraft Ownership Return and Growth Opportunity Aircraft Ownership Rationale Strategic Benefits • Enables Flight Margin expansion in regions with • Aircraft ownership has become an increasingly contracted customer density important competitive factor • Participate fully in the benefits of high airc
Slide 83: Strata's Aircraft Capacity
Strata’s Aircraft Capacity Low Operating Leverage High Non-Dedicated Third Dedicated Third-Party Owned Aircraft Party Aircraft Aircraft Capacity Mix: ~20% Capacity Mix: ~50% Capacity Mix: ~30% Target Flight Margin: ~15% Target Flight Margin: ~22% Target Flight Margin: ~35% ▪ Owned and operated by th
Slide 84: Strata's Aircraft Capacity
Strata’s Aircraft Capacity Low Operating Leverage High Non-Dedicated Third Dedicated Third-Party Owned Aircraft Party Aircraft Aircraft Capacity Mix: ~20% Capacity Mix: ~50% Capacity Mix: ~30% Target Flight Margin: ~15% Target Flight Margin: ~22% Target Flight Margin: ~35% ▪ Owned and operated by th
Slide 85: Strata's Aircraft Capacity
Strata’s Aircraft Capacity Low Operating Leverage High Non-Dedicated Third- Dedicated Third-Party Owned Aircraft Party Aircraft Aircraft Capacity Mix: ~20% Capacity Mix: ~50% Capacity Mix: ~30% Target Flight Margin: ~15% Target Flight Margin: ~22% Target Flight Margin: ~35% ▪ Owned and operated by t
Slide 86: Logistics Key Takeaways
LOGISTICS KEY TAKEAWAYS Logistics strategic value has increased with transplant case complexity Opportunity to continue to acquire new air and ground logistics customers and gain market share Well positioned given breadth of logistics offerings, scale, infrastructure, track record and partnership ap
Slide 87: Clinical Services Team Intro
Clinical Services Team Intro
Slide 88: Keystone History & Key Milestones
Keystone History & Key Milestones Keystone Milestones Keystone Leadership 2013 Keystone established in Pennsylvania by Louis Verdetto 2016 Joined the American Staffing Association in 2016 Louis Verdetto Michael Hancock Inc. 5000 fastest growing private companies’ recipient, 2019 through CEO, Clinica
Slide 89: Organ Recovery Clinical Services
Organ Recovery Clinical Services
Slide 90: Organ Recovery Clinical Services Overview
Organ Recovery Clinical Services Overview Key Stats NRP Cases Surgical Cases Regional Hubs Surgeons NRP Perfusionists >2,000 ~700 ~11 >20 35+ Organ Recovery Clinical Services Leadership Team Michael Hancock Dr. Scott Silvestry Shannon Barletti Alex Chappell Vice President, Clinical Medical Director
Slide 91: Integrated End-to-End Organ Recovery Platform
Integrated End-to-End Organ Recovery Platform Network of Regional Organ Recovery Hubs with Dedicated Perfusion Teams Machine Surgical Data & NRP Perfusion Logistics Recovery Reporting Support • Transplant • Thoracic: Heart • Machine • Integrated air and • Comprehensive Centers: NRP for (DBD), Lungs
Slide 92: Demand for Organs Well Above Supply
Demand for Organs Well Above Supply 107K 13 people die each day waiting for a transplant 48K Significant gap between supply and demand for organ transplants Current Transplant Waitlist 2024 Transplants Source: United Network for Organ Sharing and Organ Procurement and Transplantation Network 92
Slide 93: Historically Moderate Donor Growth
Historically Moderate Donor Growth Reliant on DBD Donors 2010 – 2018 16,934 Total Donors: 3.8% CAGR 8,292 10,286 10,721 9,971 8,596 9,079 2,132 7,943 8,126 8,143 8,269 1,684 1,883 1,292 1,494 943 1,057 1,107 1,207 7,585 8,287 8,403 8,589 8,642 7,000 7,069 7,036 7,062 7,304 2010 2011 2012 2013 2014 2
Slide 94: DCD Donors Driving Faster Overall Donor Growth
DCD Donors Driving Faster Overall Donor Growth & Higher Organ Supply 2018 – 2025 DBD Donors: 0.1% CAGR 2010 – 2018 DCD Donors: 21.4% CAGR 16,934 Total Donors: 3.8% CAGR Total Donors: 6.7% CAGR 8,292 10,286 10,721 9,971 8,596 9,079 2,132 7,943 8,126 8,143 8,269 1,684 1,883 1,292 1,494 943 1,057 1,107
Slide 95: Normothermic Regional Perfusion: Unlocking DCD Donors & Organ Supply
Normothermic Regional Perfusion: Unlocking DCD Donors & Organ Supply What is it? Process in Action ▪ Post-mortem perfusion technique ▪ Restores oxygenated blood flow to target organs ▪ Maintains near-normal physiologic conditions ▪ Enables functional assessment and optimization prior to recovery 95
Slide 96: Compelling Benefits of Normothermic Regional Perfusion
Compelling Benefits of Normothermic Regional Perfusion Improve Organ Utilization Improved Clinical Outcomes Organs Transplanted per Donor Thoracic: Heart(1) TA-NRP Primary Graft Dysfunction Rate 7.6% vs. 19.2% for Direct Procurement 2.6 Abdominal: Liver(2) 6-Month Ischemic Cholangiopathy Rate: 1.7 1
Slide 97: Rising Penetration of Normothermic Regional Perfusion
Rising penetration of Normothermic Regional Perfusion Proportion of DCD Donors Undergoing Normothermic Regional Perfusion 55.0% 38.6% 20.8% 7.3% 4.4% 2022 2023 2024 2025E 2028E Source: Historical data derived from the Scientific Registry of Transplant Recipients (SRTR). Future estimates are based on
Slide 98: Significant NRP Addressable Market Growth Expected
Significant NRP Addressable Market Growth Expected Expected Growth in NRP Donors 5,041 3,056 2025E 2028E DCD Donor CAGR ~5% NRP Penetration % ~39% ~55% of DCD Donors DCD Donors + NRP Penetration of DCD Donors = NRP donors Note: The NRP total addressable market estimate on this slide is based on mana
Slide 99: Transplant Centers Increasingly Capacity Constrained
Transplant Centers Increasingly Capacity Constrained, Relying More on Third- Party Recovery Traditional Current Status Future Third-party recovery: Low Third-party recovery: ~40% Third-party recovery: ~50% ▪ Recoveries completed ▪ Transplant centers are increasingly ▪ Third party recovery % by trans
Slide 100: Third-Party Recovery Offers Significant Growth Opportunity
Third-Party Recovery Offers Significant Growth Opportunity Third Party Recoveries 11,948 7,996 2025E 2028E Third Party Recovery ~40% ~50% Penetration % Note: The total addressable market estimate for third-party transplant surgical recovery is based on management’s analysis of current transplant vol
Slide 101: Partnership Approach & Dedication to Clinical Quality
Partnership Approach & Dedication to Clinical Quality Partnership Approach Clinical Quality • Collaborative, team-based approach over • All Strata surgeons are listed in the Association transactional engagements of Organ Procurement Organizations (AOPO) Credentials Information Network (ACIN) • Quali
Slide 102: Organ Recovery Platform Enables Operational Efficiencies
Strata’s Organ Recovery Platform Enables Operational Efficiencies and Cost Savings Non-Local Recovery Local Recovery Donor Donor Hospital Transplant Hospital Transplant Center Center (Recipient (Recipient Location) Location) Equipment Surgeon & Equipment at Local Hub Surgeon & Equipment ▪ Strata’s n
Slide 103: Organ Recovery Services Growth Strategy
Organ Recovery Services Growth Strategy Expansion of Expand Abdominal Machine Regional Hubs Thoracic Platform Perfusion Presence Build-Out Partnerships 103
Slide 104: Organ Recovery Regional Hubs Today
Organ Recovery Regional Hubs Today Current Hubs OPO / Transplant Center Partner States 104
Slide 105: Organ Recovery Regional Hubs – Medium Term
Organ Recovery Regional Hubs – Medium Term Current Hubs OPO / Transplant Center Partner States Future Hub Candidates 105
Slide 106: Expand Thoracic Recovery Services
Expand Thoracic Recovery Services ▪ Scalable, high quality third-party thoracic recovery capability uncommon in Thoracic is Strategic transplant community ▪ Shortage of surgeons, perfusionists, and support staff (25% of transplant centers understaffed) Demand Drivers ▪ Small and mid-sized centers fa
Slide 107: Abdominal Recovery Services Build-Out
Abdominal Recovery Services Build-Out ▪ Established infrastructure with hubs and support resources in place ▪ Expanding abdominal surgical network to provide national recovery Value Proposition coverage (with or without NRP/NMP) ▪ Enables transplant centers to pursue more DCD opportunities regardles
Slide 108: Machine Perfusion Partnerships
Machine Perfusion Partnerships ▪ Strata has a technology-agnostic strategy and supports all machine perfusion providers ▪ Strata’s organ recovery platform enables machine perfusion manufacturers to accelerate adoption and go-to-market without deploying internal staff or resources ▪ Enabled by a regi
Slide 109: Organ Recovery Clinical Services Key Takeaways
ORGAN RECOVERY CLINICAL SERVICES KEY TAKEAWAYS Rising penetration rates of NRP and third-party surgical recovery offer significant growth potential over the coming years On top of this, our key growth strategies include the expansion of regional organ recovery hubs, new customer acquisitions across
Slide 110: Organ Placement Services
(\, STRATACRITICAL MEDICAL SOLUTIONS + LOGISTICS Organ Placement Services
Slide 111: Organ Placement Services Overview
Organ Placement Services Overview Key Stats Leadership Business Organ Placement Started Coordinators Late 2023 ~40 Organ Offers Transplants Evaluated Enabled >65K >1.5K Jamie Bucio Director of Placement Services 111
Slide 112: Understanding Organ Placement Services
Understanding Organ Placement Services Organ Offer Working Together ORGAN PROCUREMENT TRANSPLANT CENTER ORGAN PLACEMENT ORGANIZATION (OPO) SERVICES ORGAN PLACEMENT SERVICES OFFERINGS Donor Process Coordination Recipient Process Coordination • Receive Organ Donor Offers • Potential Recipient Screenin
Slide 113: Organ Placement Services Demand & Strategy
Organ Placement Services Demand & Strategy Why Is There a Need? Goals & Value Proposition ▪ Recent organ allocation policy changes ▪ Serve as a trusted partner and extension of have led to an increase in organ offer a Transplant Center’s professional team volumes for transplant centers resulting in
Slide 114: Organ Placement Services Growth Potential
Organ Placement Services Growth Potential Strata’s Market Share Growth Strategy & Opportunities Strata Market Share • Significant opportunity to acquire new customers Remaining Market • Active pipeline driven by targeted sales initiatives, customer referrals and cross-selling 4% • Bolt on M&A opport
Slide 115: Organ Placement Clinical Services Key Takeaways
ORGAN PLACEMENT CLINICAL SERVICES KEY TAKEAWAYS Rising organ offer volumes and regulatory demands are straining transplant centers’ ability to manage organ placement in-house Strata offers clear value by serving as a trusted partner, offering flexible pricing, and improving operational efficiency Si
Slide 116: Integrated Transplant Offering: Cross-Sell Opportunity
Integrated Transplant Offering: Cross-Sell Opportunity Significant opportunity not underwritten in financial guidance Immediate Opportunity Medium Term Opportunity • All clinical services require logistical support • Less than 10% customer overlap between clinical and logistics customers today • Bas
Slide 117: Cardiac Care Clinical Services
Cardiac Care Clinical Services
Slide 118: Cardiac Care Clinical Services Overview
Cardiac Care Clinical Services Overview Key Stats Active Clinicians Open Heart Cases Per Cardiac Care National Presence Cardiac Care Year Customers Historical Growth ~375 20K+ 250+ 31 States Mid-Teens CAGR Core Value Proposition Attractive Industry Attributes ✓ Recurring revenue ✓ High customer rete
Slide 119: Cardiac Care & Other Clinical Services
Cardiac Care & Other Clinical Services Cardiac Care Other Services Perfusion Services Locum Tenens Equipment Rental Disposables Hyperthermic Autotransfusion & ECMO Services Intraperitoneal Blood Management Chemotherapy 119
Slide 120: Cardiac Care Growth Drivers – Rising Cardiovascular Disease
Cardiac Care Growth Drivers – Rising Cardiovascular Disease Leading Causes of Cardiovascular Cardiac Surgery Procedure Growth(2) Disease on The Rise(1) Prevalence % in US Adults 2010 2022 417,021 Obesity 36% 42% 330,643 Hypertension 42% 48% Diabetes 11% 13% 2015 2023 (1) National Health and Nutritio
Slide 121: Cardiac Care Growth Drivers – Perfusionist Shortage
Cardiac Care Growth Drivers – Perfusionist Shortage >40% >30% ~12% 1.6% Perfusionists Perfusionists Perfusionist Certified are over 50 believe they will vacancy rate Perfusionist retire in the (2019) CAGR next 10 years (2000 – 2024)(1) (1) The American Board of Cardiovascular Perfusion 121
Slide 122: Cardiac Care Clinical Services Growth Strategy
Cardiac Care Clinical Services Growth Strategy New customer Expansion into ECMO growth Roll up acquisition new staffing potential opportunity services 122
Slide 123: Cardiac Perfusion New Customer Acquisition Opportunity
Cardiac Perfusion New Customer Acquisition Opportunity Opportunity Outsourced Cardiac Perfusion U.S. TAM ▪ Large and fragmented market today – U.S. outsourced TAM is ~$350 million 7% ▪ Strata currently has ~7% market share of the outsourced perfusion market Strata Market ▪ We’ve consistently added n
Slide 124: Expansion into Adjacent Clinical Services
Expansion into Adjacent Clinical Services Interoperative Neuro Cardiac Care Clinical Engineering Monitoring (IONM) Physician Assistants Real-time monitoring of Advanced clinicians who Experts who maintain brain, spinal cord, and assist in diagnosing, and calibrate life-support nerve function during
Slide 125: Cardiac Care Acquisition Opportunity
Cardiac Care Acquisition Opportunity ▪ Highly fragmented market of small, founder- led businesses ▪ Typical target generates <$10 million of revenue and trades for low to mid single-digit EBITDA multiple ▪ Completed ~6 tuck-in acquisitions at similar valuation levels ▪ Active pipeline 125
Slide 126: Cardiac Care Key Takeaways
CARDIAC CARE KEY TAKEAWAYS High quality business Provides platform for Strata to expand into non-transplant healthcare services Multiple ways to grow materially above industry growth rate 126
Slide 127: Regulatory Update
(\, STRATACRITICAL MEDICAL SOLUTIONS + LOGISTICS Regulatory Update
Slide 128: Transplant Regulatory Update
Transplant Regulatory Update Increased regulatory scrutiny has created near term uncertainty for transplant community. We believe regulatory initiatives are set to restore trust in the system and will be a broad medium to long term positive for Strata…and all who need life-saving organs Allocation O
Slide 129: Transplant Regulatory Update
Transplant Regulatory Update Increased regulatory scrutiny has created near term uncertainty for transplant community. We believe regulatory initiatives are set to restore trust in the system and will be a broad medium to long term positive for Strata…and all who need life-saving organs Allocation O
Slide 130: Transplant Regulatory Update
Transplant Regulatory Update Increased regulatory scrutiny has created near term uncertainty for transplant community. We believe regulatory initiatives are set to restore trust in the system and will be a broad medium to long term positive for Strata…and all who need life-saving organs Allocation O
Slide 131: Allocation Policy Change Case Study
Allocation Policy Change Case Study Donor Service Areas Acuity Circles Continuous Distribution (1984-2017) (2017-present) (2023-present) Miles (Diameter) 1000 500 250 • After liver allocation moved to Acuity • After lung allocation moved to Circles (2020), average travel Continuous Distribution (202
Slide 132: Transplant Regulatory Update
Transplant Regulatory Update Increased regulatory scrutiny has created near term uncertainty for transplant community. We believe regulatory initiatives are set to restore trust in the system and will be a broad medium to long term positive for Strata…and all who need life-saving organs Allocation O
Slide 133: Technology
(\, STRATACRITICAL MEDICAL SOLUTIONS + LOGISTICS Technology
Slide 134: Strata Technology Platform
Strata Technology Platform Logistics Clinical Services Services TAC Keyport 134
Slide 135: TAC Platform Overview
TAC Platform Overview Digital hub of Logistics Services operations, managing every step from customer request to service completion. TAC unites communication, tracking, documentation, vendor management and invoicing in one system, enabling real-time visibility, operational accuracy, and data-driven
Slide 136: TAC Customer Portal & Trip Requests
TAC Customer Portal & Trip Requests ▪ Trips can be initiated through the TAC customer portal which improves efficiency and reduces errors ▪ ~20% of trips now requested electronically 136
Slide 137: TAC Real-Time Tracking
TAC Real-Time Tracking ▪ Full chain of custody tracking, device agnostic and no equipment required ▪ Real-time tracking and updates for all logistics legs including air and ground ▪ Improves transplant case planning and execution 137
Slide 138: TAC Customer Reporting and Analytics
TAC Customer Reporting and Analytics ▪ Enables monthly customer data reporting and analytics ▪ Forms basis of customer success reviews ▪ Customized reporting tailored for each customer 138
Slide 139: Keyport Platform Overview
Keyport Platform Overview Digital backbone of Clinical Services operations connecting HR, compliance, clinical data and finance into one secure and scalable platform that drives efficiency and enhances client value 139
Slide 140: Keyport Clinical Intelligence – Real-Time Data at the Point of Care
Keyport Clinical Intelligence – Real-Time Data at the Point of Care • Live clinical charting • Captures data from perfusion teams and directly from perfusion equipment • Syncs with hospital EMR systems • Compliance tracking • Data security • Clinical benchmarking 140
Slide 141: Keyport Customer Insights – Turning Data Into Decisions
Keyport Customer Insights – Turning Data Into Decisions • KPI dashboards • Automated reporting • Operational transparency 141
Slide 142: Keyport Operational Efficiency – Powering Scale and Precision
Keyport Operational Efficiency – Powering Scale and Precision • All-in-one platform • Onboarding automation • Credential management • Workforce management • Inventory intelligence • Accounting integration • Secure cloud platform 142
Slide 143: Unit Economics & Contract Structure
Unit Economics & Contract Structure
Slide 144: Logistics Services Unit Economics & Contract Structure
Logistics Services Unit Economics & Contract Structure Third-Party & Ground(2) Owned Aircraft(1) Dedicated Aircraft Block Hours Block Hours Billable Hours Revenue Revenue per Hour Revenue per Hour Revenue per Hour Flight Hours Flown Fuel consumed Fuel consumed Pilot salaries Driver salaries COGS Cos
Slide 145: Logistics Services Unit Economics & Contract Structure
Logistics Services Unit Economics & Contract Structure Third-Party & Ground(2) Owned Aircraft(1) Dedicated Aircraft Block Hours Block Hours Billable Hours Revenue Revenue per Hour Revenue per Hour Revenue per Hour Flight Hours Flown Fuel consumed Fuel consumed Pilot salaries Driver salaries COGS Cos
Slide 146: Logistics Services Unit Economics & Contract Structure
Logistics Services Unit Economics & Contract Structure Third-Party & Ground(2) Owned Aircraft(1) Dedicated Aircraft Block Hours Block Hours Billable Hours Revenue Revenue per Hour Revenue per Hour Revenue per Hour Flight Hours Flown Fuel consumed Fuel consumed Pilot salaries Driver salaries COGS Cos
Slide 147: Logistics Services Unit Economics & Contract Structure
Logistics Services Unit Economics & Contract Structure Third-Party & Ground(2) Owned Aircraft(1) Dedicated Aircraft Block Hours Block Hours Billable Hours Revenue Revenue per Hour Revenue per Hour Revenue per Hour Flight Hours Flown Fuel consumed Fuel consumed Pilot salaries Driver salaries COGS Cos
Slide 148: Logistics Services Unit Economics & Contract Structure
Logistics Services Unit Economics & Contract Structure Third-Party & Ground(2) Owned Aircraft(1) Dedicated Aircraft Block Hours Block Hours Billable Hours Revenue Revenue per Hour Revenue per Hour Revenue per Hour Flight Hours Flown Fuel consumed Fuel consumed Pilot salaries Driver salaries COGS Cos
Slide 149: Transplant & Other Clinical Services Unit Economics & Contract Structure
Transplant & Other Clinical Services Unit Economics & Contract Structure Perfusion (Retainer) NRP (Retainer) Locum Tenens Surgical Recovery Monthly Take or Pay Retainer Monthly retainer fee Hours billed Per case Fee Fee Revenue Disposables Per case fee Rate per hour Disposables Cost of labor Cost of
Slide 150: Transplant & Other Clinical Services Unit Economics & Contract Structure
Transplant & Other Clinical Services Unit Economics & Contract Structure Perfusion (Retainer) NRP (Retainer) Locum Tenens Surgical Recovery Monthly Take or Pay Retainer Monthly retainer fee Hours billed Per case Fee Fee Revenue Disposables Per case fee Rate per hour Disposables Cost of labor Cost of
Slide 151: Transplant & Other Clinical Services Unit Economics & Contract Structure
Transplant & Other Clinical Services Unit Economics & Contract Structure Perfusion (Retainer) NRP (Retainer) Locum Tenens Surgical Recovery Monthly Take or Pay Retainer Monthly retainer fee Hours billed Per case Fee Fee Revenue Disposables Per case fee Rate per hour Disposables Cost of labor Cost of
Slide 152: Financial Performance and Outlook
Financial Performance and Outlook
Slide 153: Medical Segment Financial Performance Overview
Medical Segment Financial Performance Overview Medical Segment Revenue (Millions) Medical Segment Adj. EBITDA (Millions) Medical Segment Adj. EBITDA Margin % $28.0 Mid-14% $195.0 13.1% $27.0 $19.3 $147.0 $127.0 185 8.5% $10.8 7.5% 7.1% $72.0 $5.1 $15.0 $1.1 2021 2022 2023 2024 2025E 2021 2022 2023 2
Slide 154: 2026 Financial Guidance
2026 Financial Guidance Metric Range Revenue $255 million - $270 million Adjusted EBITDA $28 million - $32 million Free Cash Flow, Before Aircraft and Engine Acquisitions $15 million - $22 million Revenue Drivers Adjusted EBITDA Drivers Free Cash Flow Drivers ▪ Adjusted EBITDA Margin low to high ▪ C
Slide 155: 2026 Financial Guidance
2026 Financial Guidance Metric Range Revenue $255 million - $270 million Adjusted EBITDA $28 million - $32 million Free Cash Flow, Before Aircraft and Engine Acquisitions $15 million - $22 million Revenue Drivers Adjusted EBITDA Drivers Free Cash Flow Drivers ▪ Adjusted EBITDA Margin low to high ▪ C
Slide 156: 2026 Financial Guidance
2026 Financial Guidance Metric Range Revenue $255 million - $270 million Adjusted EBITDA $28 million - $32 million Free Cash Flow, Before Aircraft and Engine Acquisitions $15 million - $22 million Revenue Drivers Adjusted EBITDA Drivers Free Cash Flow Drivers ▪ Adjusted EBITDA Margin low to high ▪ C
Slide 157: 2026 Financial Guidance
2026 Financial Guidance Metric Range Revenue $255 million - $270 million Adjusted EBITDA $28 million - $32 million Free Cash Flow, Before Aircraft and Engine Acquisitions $15 million - $22 million Revenue Drivers Adjusted EBITDA Drivers Free Cash Flow Drivers ▪ Adjusted EBITDA Margin low to high ▪ C
Slide 158: Medium Term Value Creation Framework
Medium Term Value Creation Framework Organic Free Cash Margin Revenue Flow(1) Expansion Growth Conversion Low double Adjusted EBITDA 60-70% digit CAGR margin of conversion of approximately Adjusted EBITDA 13.0% by 2029 Organic Adjusted EBITDA CAGR high teens Capital Deployment $200 million of cash a
Slide 159: Medium Term Value Creation Framework - Organic Revenue Growth
Medium Term Value Creation Framework - Organic Revenue Growth Key Drivers Organic ▪ Industry Volume Growth: High single digit volume growth Revenue Growth ▪ Industry NRP Donors: Mid to High teens volume growth (NRP penetration of DCD donors reaching mid to high 50% vs ~40% in 2025) ▪ New customer ad
Slide 160: Medium Term Value Creation Framework - Margin Expansion
Medium Term Value Creation Framework - Margin Expansion Key Drivers Margin ▪ SG&A operating leverage: Significant portion of SG&A costs are fixed in nature and expected to grow at a slower rate relative to revenue over the medium term. Expansion ▪ Mix shift to clinical services: Clinical services ma
Slide 161: Medium Term Value Creation Framework - Free Cash Flow Conversion
Medium Term Value Creation Framework - Free Cash Flow Conversion Key Drivers Free Cash ▪ Capital expenditures (including capitalized software development) of $7-10 Flow (1) million Conversion ▪ Timing of owned fleet scheduled maintenance events ▪ New ground OPO customers and establishment of new gro
Slide 162: Strata Financial Outlook
Strata Financial Outlook Conservative assumptions provide foundation for high-teens Adj. EBITDA CAGR in the medium-term Significant catalysts Conservative assumptions provide building blocks provide foundation for for outperformance and 2026 and medium-term are not incorporated in guidance Opportuni
Slide 163: Medium Term Value Creation Framework - Capital Deployment
Medium Term Value Creation Framework - Capital Deployment Cash available for deployment through 2029 Capital Estimated Borrowing Deployment ~$60M Capacity(1) $200 million of Estimated Aggregate Cash cash available for ~$90M Flow (2) deployment through 2029 Current Cash & Equivalents, ~$50M Net of Mi
Slide 164: Strata Financial Outlook
Strata Financial Outlook Considerable value creation potential from capital deployment with room for upside from other catalysts Remaining building blocks Illustrative 75% of cash available Triple deployed at mid single digit multiples assuming no growth and no Continuous Distribution synergies in a
Slide 165: Q&A Session
(\, STRATACRITICAL MEDICAL SOLUTIONS + LOGISTICS Q&A Session
Slide 166: Trailing Twelve Months Medical Segment Revenue
Trailing Twelve Months Medical Segment Revenue STRATA CRITICAL MEDICAL, INC. (F/K/A BLADE AIR MOBILITY, INC.) Medical Segment Revenue ($ in thousands, unaudited) Three Months Ended June 30, 2025 March 31, December 31, September 30, June 30, 2024 March 31, December 31, September 30, June 30, March 31
Slide 167: Use Of Non-GAAP Information
Use Of Non-GAAP Information Strata believes that the non-GAAP measures discussed below, viewed in addition to and not in lieu of our reported U.S. Generally Accepted Accounting Principles ("GAAP") results, provide useful information to investors by providing a more focused measure of operating resul
Slide 168: Use Of Non-GAAP Information (Continued)
Use Of Non-GAAP Information (Continued) Adjusted EBITDA, Adjusted EBITDA Margin, Medical Segment Adjusted EBITDA and Medical Segment Adjusted EBITDA Margin – Strata reports Adjusted EBITDA and Adjusted EBITDA Margin, which are non-GAAP financial measures. Strata defines Adjusted EBITDA as net loss a
Slide 169: Use Of Non-GAAP Information (Continued)
Use Of Non-GAAP Information (Continued) Adjusted EBITDA, Adjusted EBITDA Margin, Medical Segment Adjusted EBITDA and Medical Segment Adjusted EBITDA Margin – Strata reports Adjusted EBITDA and Adjusted EBITDA Margin, which are non-GAAP financial measures. Strata defines Adjusted EBITDA as net loss a
Slide 170: Use Of Non-GAAP Information (Continued)
Use Of Non-GAAP Information (Continued) 170
Slide 171: Use Of Non-GAAP Information (Continued)
Use Of Non-GAAP Information (Continued) Adjusted EBITDA, Adjusted EBITDA Margin, Medical Segment Adjusted EBITDA and Medical Segment Adjusted EBITDA Margin – Strata reports Adjusted EBITDA and Adjusted EBITDA Margin, which are non-GAAP financial measures. Strata defines Adjusted EBITDA as net loss a
Strata Critical Medical — Investor Day (November 2025) on 6ix