Surf Air Mobility FY24 rev beat guidance $112.9M pro forma; GAAP loss $(250.7)M; Q1 rev guided $28.5-29.5M

SURF AIR MOBILITY INC.

FY23 GAAP revenue $60.5M; pro forma revenue $112.9M (+12% YoY), beating 2023 guidance.
FY23 GAAP net loss $(250.7)M vs $(74.4)M prior year; pro forma net loss $(185.0)M.
FY23 pro forma adjusted EBITDA $(50.9)M, achieving guidance; Q4 adj EBITDA $(18.4)M.
Q1 2024 revenue guidance $28.5-29.5M; pro forma adj EBITDA guidance $(14.0)-$(17.0)M.
Signed MOUs for electric Caravan conversion with African carriers (13% of fleet); partnerships with Palantir, Electra.aero.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

SURF AIR MOBILITY INC. reported first quarter 2024 results: revenue in the range of $28.5 million to $29.5 million. Guidance initiated.

Period: first quarter 2024
Revenue: in the range of $28.5 million to $29.5 million
Guidance: initiated
Result: guidance update

Exact text from the filing

FIRST QUARTER 2024 FINANCIAL OUTLOOK ● Revenue, in the range of $28.5 million to $29.5 million. ● Pro forma adjusted EBITDA, in the range of $(17.0) million to $(14.0) million, which excludes the expected impact of stock-based compensation, changes in fair value of financial instruments, and other non-recurring items.

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

SURF AIR MOBILITY INC. reported fourth quarter ended December 31, 2023 results: revenue GAAP revenue of $26.8 million, net income GAAP Net Loss of $(110.5) million.

Period: fourth quarter ended December 31, 2023
Revenue: GAAP revenue of $26.8 million
Net income: GAAP Net Loss of $(110.5) million
Result: reported results

Exact text from the filing

GAAP revenue of $26.8 million. Pro forma revenue of $27.4 million for fourth quarter 2023, compared to $27.7 million for the same period of the prior year.

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

SURF AIR MOBILITY INC. reported the year ended December 31, 2023 results: revenue GAAP revenue of $60.5 million, net income GAAP net loss of $(250.7) million.

Period: the year ended December 31, 2023
Revenue: GAAP revenue of $60.5 million
Net income: GAAP net loss of $(250.7) million
Result: reported results

Exact text from the filing

EX-99.1 (EX-99.1) --- EX-99.1 Exhibit 99.1 Surf Air Mobility Reports Financial Results for Fourth Quarter and Full Year Ended December 31, 2023 • Full year 2023 GAAP revenue of $60.5 million and Pro Forma revenue of $112.9 million, up 12% year-over-year, beating 2023 guidance. • Full year 2023 GAAP Net Loss of $(250.7) million and Pro Forma Net Loss of $(185.0)

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SURF AIR MOBILITY INC. filing history →

Source: SEC EDGAR

accession 0000950170-24-038109

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