Surf Air Q2 revenue $29.5M at high end of guidance; On Demand up 101%

SURF AIR MOBILITY INC.

Revenue $29.5M (high end of $27-30M guide), up 8% YoY; Surf On Demand charter revenue $12.1M, +101% YoY.
Net loss $28.1M; Adjusted EBITDA loss $10.5M, within $10.5-8.5M guidance.
Signed first SurfOS enterprise contract with Wheels Up worth up to $12M over 3 years; expanded Palantir partnership.
Refinanced convertible note, cutting principal 64%, amortization up to 50%; new $17M note due 2027, $30M term note due 2028, plus $21.6M aircraft ABL.
FY26 guidance: revenue $128-138M (+20-30% YoY), Adj EBITDA loss $30-25M (improved from prior $50-40M); Q3 guide $35.5-37.5M revenue, $7-4M EBITDA loss.

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