Blade Air Mobility reports Q1 EPS (4c) vs. (6c) last year

Reports Q1 revenue $54.3M, consensus $49.3M. “We are pleased to report an excellent start to the year with revenue growth of 11% year-over-year excluding Canada, and a $2.3 million year-over-year improvement in Adjusted EBITDA,” said Rob Wiesenthal, Blade’s Chief Executive Officer. “Our strength in the Passenger Segment this quarter was particularly notable with segment revenue growing 42.0% year-over-year, excluding Canada, and our first Segment Adjusted EBITDA profitable first quarter since going public.” Wiesenthal added, “Our strong Passenger Segment results reflect several factors including our durable competitive positioning along with the important actions we’ve taken recently to improve profitability such as our exit from Canada and broad-based cost rationalization initiatives. I’m particularly encouraged by the results in Europe following our restructuring, which led to strong revenue growth and significantly improved profitability this quarter.”