Surf Air Mobility, Inc. ( (SRFM) ) has released its Q4 earnings. Here is a breakdown of the information Surf Air Mobility, Inc. presented to its investors.
Surf Air Mobility Inc., a regional air mobility platform based in Los Angeles, operates as one of the largest commuter airlines in the U.S. and is developing AI-powered software and electrified aircraft for the industry. In its latest earnings report, Surf Air Mobility announced a 5% increase in fourth-quarter revenue to $28.05 million, surpassing expectations, and a significant improvement in net income to $1.3 million from a loss of $111 million in the previous year. The company also reported a full-year revenue increase of 6% to $119.4 million, with a notable reduction in net loss by 70% to $74.9 million. Key financial highlights include a 63% improvement in adjusted EBITDA loss for the fourth quarter and a 13% improvement for the full year, driven by strategic initiatives such as exiting unprofitable routes and capturing merger synergies. Surf Air Mobility’s strategic efforts in 2024 included securing a $50 million term loan, reducing liabilities, and launching SurfOS with six beta users. Looking ahead, the company remains focused on its Transformation Plan, aiming for profitability in airline operations by 2025, and is actively pursuing joint ventures to support its electrification and software initiatives.