Surf Air Mobility Q1 net loss widens to $20.3 million; revenue rises 9% to $25.6 million

Surf Air Mobility, Inc.

Surf Air Mobility, Inc.

SRFM

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  • Surf Air Mobility posted Q1 revenue of $25.6 million, up 9% year over year, while net loss widened to $20.3 million.
  • Adjusted EBITDA loss narrowed to $12.3 million, beating guidance for a $15.5 million to $13.5 million loss.
  • Scheduled service revenue fell 13% to $15.5 million, while Surf On Demand private charter revenue jumped 77% to $10.1 million.
  • Management raised full-year adjusted EBITDA loss outlook to $30 million to $25 million from $50 million to $40 million, keeping revenue guidance at $128 million to $138 million.
  • Second-quarter guidance calls for revenue of $27 million to $30 million, with adjusted EBITDA loss of $10.5 million to $8.5 million.


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