Blade Air Mobility, Inc. ( (BLDE) ) has released its Q4 earnings. Here is a breakdown of the information Blade Air Mobility, Inc. presented to its investors.
Blade Air Mobility, Inc. is a company that provides air transportation and logistics services, focusing on medical transport and passenger services, primarily in the United States and Southern Europe. Known for its asset-light model, Blade is transitioning to Electric Vertical Aircraft (eVTOL) to offer quieter, emission-free air mobility solutions.
Blade Air Mobility recently announced its financial results for the fourth quarter of 2024, highlighting significant improvements in profitability and revenue growth. The company reported a full-year net loss reduction of $28.8 million, achieving its first full-year of Adjusted EBITDA profitability. The fourth quarter revenue increased by 14.5% compared to the previous year, driven by growth in both the Passenger and Medical segments.
Key financial metrics showed a substantial improvement, with the Passenger Segment Adjusted EBITDA reaching $3.6 million, an $8.6 million increase from the prior year. The Medical Segment Adjusted EBITDA saw a remarkable 119.6% increase to $5.5 million in Q4 2024. Blade’s exit from the Canadian market contributed to a 22.1% revenue increase, excluding Canada, compared to the previous year. The company’s strategic focus on cost efficiencies and growth in Urban Air Mobility products, such as the New York City airport transfer service, contributed to these positive results.
Looking ahead, Blade Air Mobility reaffirms its guidance for double-digit millions in Adjusted EBITDA for 2025. The company plans to continue its growth trajectory by expanding its medical and passenger services, leveraging its aircraft investments, and transitioning to eVTOL technology to enhance its service offerings and operational efficiencies.