Strata Critical Medical (SRTA) Investor presentation summary

Platform and operating model

• Technology-enabled, asset-light urban air mobility platform offers passenger and critical-cargo alternatives to congested ground transport, using conventional aircraft today with a planned transition to electric vertical aircraft (EVA).

• Aircraft are supplied by third-party operators; flights are generally purchased by the hour, with payment for completed flights under most agreements and a fixed, all-inclusive rate covering aircraft, fuel, insurance, pilots and maintenance.

• The platform combines booking, dispatch, logistics, operator dashboards and 24/7 medical operations; infrastructure and terminal network support passenger management and mission coordination.

• Core offerings are short-distance passenger flights, MediMobility organ transport, and jet and other services; passenger routes typically span 10–100 miles and offer by-the-seat and charter options.

Business lines and markets

• Short Distance TTM revenue reached $41.8m in Q3'22, with service in New York, Vancouver and Southern Europe; expansion opportunities include routes where ground, ferry or train trips take longer.

• MediMobility is a dedicated U.S. organ-transport service using air and ground transport; missions often occur at night, complementing daytime passenger demand and sharing aircraft operators.

• MediMobility served 67 transplant centers and organ procurement organizations; organ-allocation policy shifts increased average donor-recipient distances 50% since 2017, from 125 to nearly 200 miles.

• Jet and Other includes seasonal by-the-seat service, jet charter, ancillary offerings and brand partnerships; Q3'22 TTM revenue was $30.8m.

• The platform operates in the U.S., Canada and Europe, and participates in India through a joint venture with royalty rights tied to venture revenue and profitability.

Q3 2022 financial performance

• Revenue was $45.7m, up 125% reported and 60% pro forma YoY; TTM revenue was $132.6m, with 45% from MediMobility.

• Short Distance revenue was $20.4m, up 52% reported and 24% pro forma YoY; growth reflected demand, higher pricing and utilization, resumed Blade Airport service, and acquisitions in Canada and Europe.

• MediMobility revenue was $20.2m, up 801% reported and 174% pro forma YoY, supported by Trinity acquisition growth, new hospital clients and existing-account expansion.

• Jet and Other revenue was $5.1m versus $4.7m YoY, with growth primarily from higher average prices per trip; Flight Margin was 20.3% and Adjusted EBITDA was $(4.5)m.

• Cash and short-term investments totaled $202m at September 30, 2022; capital priorities included organic expansion, acquisitions, talent, technology, marketing and strategic infrastructure.