Surf Air Mobility, Inc. (NYSE:SRFM) released its second-quarter results after Tuesday's closing bell. Here's a look at the key figures from the quarter.
The Details: Surf Air Mobility reported quarterly losses of $1.34 per share, which missed the Street estimate for losses of $1.06.
Quarterly revenue clocked in at $27.431 million, which beat the consensus estimate of $25.32 million and is down from revenue of $32.36 million from the same period last year.
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Surf Air Mobility reported the following highlights from the second quarter:
- Scheduled Service revenue growth of over 20% and profitability in airline operations driven by improvement in controllable completion factor from 82% to 95%
- On Demand revenue growth greater than 5% with a seven-percentage-point improvement in margins, driven by an increase in the number of charter flights and the positive impact of BrokerOS software on the business
- Raised $44.7 million in equity capital that strengthened the Company’s balance sheet and enhanced the Company’s ability to execute its strategy
“The operational and financial results of the second quarter reflect an inflection point in the trajectory of the company,” said Deanna White, CEO.
“With a strengthened balance sheet, significantly improved airline operations and strong momentum in our software business powered by Palantir, we have confidence in our ability to achieve our goals in 2025, in advance of entering our planned Expansion phase in 2026,” White added.
SRFM Stock Price: According to data from Benzinga Pro, Surf Air Mobility stock was down 3.34% at $4.05 in Tuesday's extended trading.
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