Strong Revenue Growth in Passenger Segment
Passenger segment revenue grew 42% year-over-year, excluding Canada, with the segment achieving its first adjusted EBITDA profitable first quarter since going public.
Record Performance in Medical Segment
Medical segment exceeded expectations with new hospital partnerships and an all-time record for trip volumes in April.
Successful Restructuring in Europe
The European restructuring led to strong revenue growth and significantly improved profitability, contributing to a 28.1% year-over-year increase in short distance revenue.
Increased Cash Position
The company ended the quarter with $120 million in cash and short-term investments, providing strategic flexibility for future investments.
Improved Flight Margin
Passenger segment saw a profitability improvement of 840 basis points in flight margin, along with a 16% reduction in adjusted SG&A.