Surf Air Mobility reports Q2 EPS (33c), consensus (32c)

Reports Q2 revenue $32.4M, consensus $29.42M. The company said, “Revenue exceeded our expectations and Adjusted EBITDA was materially higher than our initial plan…In the last 90 days, we have moved rapidly to implement operational improvements and stringent management of operating expenses. These efforts resulted in second quarter positive adjusted EBITDA for our regional airline operations, formerly known as Southern Airways, reversing a longstanding trend. In addition to driving substantive improvement in those operations, we are simultaneously advancing our Technology operations, including the ‘SurfOS’ technology platform and our EP1 Caravan electrification initiative.”