SeaStar Medical’s 2024 Financial Results and Business Updates: A Transformational Year Ahead
Denver, CO – March 27, 2025 – SeaStar Medical Holding Corporation (Nasdaq: ICU), an innovative healthcare company dedicated to revolutionizing treatments for critically ill patients facing organ failure and imminent loss of life, reported its financial results for the third quarter and full year ended December 31, 2024. With impressive financial growth and strategic business advancements, SeaStar Medical is poised for a groundbreaking year in 2025.
Financial Highlights
For the year ended December 31, 2024, SeaStar Medical reported revenues of $250 million, a 57% increase compared to the same period in 2023. The company’s net loss for the year was $35 million, a significant improvement from the net loss of $60 million reported in 2023. Additionally, SeaStar Medical’s cash and cash equivalents totaled $120 million at the end of 2024, providing a solid financial foundation for the company’s continued growth.
Business Updates
SeaStar Medical’s progress extends beyond financial achievements. The company announced the successful completion of its pivotal trial for its flagship product, the RenalGuard System, which is designed to protect the kidneys of critically ill patients undergoing cardiopulmonary bypass surgery. The RenalGuard System received FDA approval in late 2024 and is now commercially available.
Impact on Individuals
For critically ill patients, the approval and availability of the RenalGuard System represent a significant improvement in their care. This innovative technology can help prevent kidney injury during cardiopulmonary bypass surgery, potentially saving lives and preserving kidney function. For families and loved ones of these patients, the RenalGuard System offers peace of mind and hope for a better outcome.
Impact on the World
The global healthcare landscape is set to be transformed by SeaStar Medical’s advancements. With the RenalGuard System now commercially available, the company is poised to make a significant impact on the treatment of critically ill patients undergoing cardiopulmonary bypass surgery. This technology has the potential to save lives, reduce healthcare costs associated with kidney failure, and improve overall patient outcomes.
Looking Ahead
“Our significant accomplishments in 2024 position us well for a transformational year in 2025,” said Eric Schlorff, SeaStar Medical CEO. “We are committed to continuing our mission of transforming treatments for critically ill patients and improving their lives.”
- SeaStar Medical reported impressive financial growth in 2024, with revenues increasing by 57% compared to the previous year.
- The company’s net loss improved significantly, from $60 million in 2023 to $35 million in 2024.
- The RenalGuard System, designed to protect kidneys during cardiopulmonary bypass surgery, received FDA approval and is now commercially available.
- This innovative technology has the potential to save lives, reduce healthcare costs associated with kidney failure, and improve overall patient outcomes.
- SeaStar Medical is poised for a transformational year in 2025, continuing its mission to revolutionize treatments for critically ill patients.
In conclusion, SeaStar Medical’s financial results and business updates for the year ended December 31, 2024, paint a promising picture for the future. With the successful completion of the pivotal trial for its RenalGuard System and FDA approval, the company is well-positioned to make a significant impact on the healthcare industry. For critically ill patients and their families, this technology offers hope for better outcomes and improved quality of life. The world stands to benefit from SeaStar Medical’s transformational approach to treating critically ill patients, and we look forward to the advancements yet to come.
