Strata Critical Medical, Inc. Annual report [Section 13 and 15(d), not S-K Item 405]

Annual report [Section 13 and 15(d), not S-K Item 405]

Income Taxes (Tables)

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2025

Schedule of Components of Loss before Income Taxes

The components of loss from continuing operations before income taxes were:




	For the Years Ended
	December 31, 2025		December 31, 2024
United States	$	(20,066)	$	(16,161)

Schedule of Effective Income Tax Rate Reconciliation

A reconciliation of the provision for income taxes to the amount computed by applying the 21% statutory U.S. federal income tax rate to income (loss) from continuing operations before income taxes after the adoption of ASU 2023-09 is as follows:


	For the Year Ended December 31, 2025
	Amount		Percent
Loss from continuing operations before income taxes	$	(20,066)

U.S. federal statutory tax rate	(4,214)		21.0	%








Changes in valuation allowances	2,750		(13.7)	%
Nontaxable or nondeductible items:
Warrant liability	(898)		4.5	%
Executive compensation	2,149		(10.7)	%
Other	213		(1.1)	%

Effective tax rate	$	—	—	%




	For the Year Ended December 31, 2024

U.S. federal statutory tax rate	21.0	%
State & local income taxes, net of federal income tax effect	(4.3)	%



Executive compensation	(9.6)	%



Equity compensation	(16.7)	%
Other	0.5	%
Changes in valuation allowances	9.1	%
Effective tax rate	—	%

Schedule of Deferred Tax Assets and Liabilities

The tax effects of temporary differences that give rise to significant portions of the deferred tax assets were as follows:


	As of December 31,
	2025		2024
Deferred tax assets:
Net operating loss carryforwards	$	22,447	$	22,552
Stock-based compensation	449		243
Capitalized research expenses	—		2,318
Research and development credits	978		981
Operating lease liability	891		2,492
Accrued expenses	680		772
Other	130		704
Total deferred tax assets	25,575		30,062

Deferred tax liabilities:
Property and equipment	(1,715)		(422)
Amortization of intangibles	(1,629)		(1,589)
Sale of passenger business	(2,501)		—
Operating right-of-use asset	(837)		(2,370)
Total deferred tax liabilities	(6,682)		(4,381)
Total net deferred tax assets, before valuation allowance	18,893		25,681

Less: valuation allowance	(19,241)		(25,681)
Deferred tax liabilities, net of valuation allowance	$	(348)	$	—

Schedule of Income Taxes Paid

The amounts of cash income taxes paid by the Company were as follows:




	For the Year Ended December 31, 2025
Federal	$	—
State
Minnesota	83
All other states	4

Income taxes, net of amounts refunded	$	87