Stocks
ETFs
Options
Commodities
Crypto
Currency
Pro Newsletters
Research Tools
Daily Feeds
Calendars
Economic Indicators
Class Actions
Calculators
Education
About Us
Working with TipRanks
Follow Us
Surf Air Mobility, Inc. (SRFM)
NYSE:SRFM
Holding SRFM?
Track your performance easily
Earnings Data
Report Date
Mar 27, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
-1.19Last Year’s EPS
-10.36Same Quarter Last Year
Based on 1 Analysts Ratings
---
Earnings Call Summary
Earnings Call Date:Nov 14, 2023
|% Change Since: 122.09%
|Next Earnings Date:Aug 16, 2023
Earnings Call Sentiment|Neutral
The earnings call presented a mixed outlook with significant achievements in terms of revenue and strategic initiatives like the SurfOS platform and a new financing agreement. However, challenges such as unplanned maintenance and a decline in on-demand service revenue were noted. The company's transformation plan shows potential for future profitability, but current operations have not reached expected profitability goals.Company Guidance
During Surf Air Mobility's Q3 2024 earnings call, the company announced several key developments and metrics that showcased their financial and strategic progress. Revenue for the quarter reached $28.4 million, exceeding the guidance range of $25 million to $28 million, while adjusted EBITDA loss was $8.9 million, outperforming the expected loss range of $10 million to $13 million. The call highlighted the recent closure of a $50 million term loan agreement with Comvest Partners, bolstering the company's liquidity and capital structure. This funding, combined with strategic measures like exiting unprofitable routes and optimizing operations, positions Surf Air Mobility to achieve sustained profitability in 2025. The company also emphasized its ongoing transformation plan, which involves leveraging the SurfOS software platform and expanding in the higher-margin jet category. Additionally, the call referenced the successful realization of synergies from its merger with Southern Airways and the deployment of two new aircraft from Textron Aviation. Looking ahead, the company provided Q4 guidance, projecting revenue between $25 million and $28 million and an adjusted EBITDA loss ranging from $5 million to $8 million, as they continue to focus on operational efficiencies and strategic growth initiatives.Exceeded Revenue and Adjusted EBITDA Expectations
Surf Air Mobility exceeded its guidance for both revenue and adjusted EBITDA in the third quarter, with revenue reaching $28.4 million, surpassing the high end of the company's guidance range of $25 million to $28 million.
Secured $50 Million Term Loan
Surf Air Mobility closed a $50 million term loan agreement with Comvest Partners, which strengthens the balance sheet and addresses near-term liquidity constraints, allowing the company to execute its transformation plans.
Successful Completion of Phase 1 of Transformation Plan
The company completed the first phase of its transformation plan, improving capital structure, strengthening the balance sheet, and realizing synergies from the Southern merger.
Launch of SurfOS Software Platform
Progress was made on the SurfOS software platform, which will optimize airline operations and is expected to generate additional revenue from third-party operators.
Expansion into Higher-Margin Jet Category
The company is expanding its market share in the higher-margin jet category, which is expected to drive both revenue and profitability in the on-demand business.
---
SRFM Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
---
SRFM Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Nov 14, 2024 | $1.72 | $1.64 | -4.65% |
| Aug 14, 2024 | $2.54 | $2.11 | -16.93% |
| May 14, 2024 | $3.34 | $2.89 | -13.47% |
| Mar 28, 2024 | $5.90 | $5.25 | -11.02% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
---
FAQ
When does Surf Air Mobility, Inc. (SRFM) report earnings?
Surf Air Mobility, Inc. (SRFM) is schdueled to report earning on Mar 27, 2025, TBA Not Confirmed.
What is Surf Air Mobility, Inc. (SRFM) earnings time?
Surf Air Mobility, Inc. (SRFM) earnings time is at Mar 27, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is SRFM EPS forecast?
SRFM EPS forecast for the fiscal quarter 2024 (Q4) is -1.19.
---