Sale of Blade Passenger Business to Joby Aviation
Blade announced the sale of its Passenger business to Joby Aviation for up to $125 million. This transaction is aimed at unlocking the full potential of Blade's Medical division, which has grown to approximately 60% of revenue and 85% of segment's adjusted EBITDA.
Strong Performance of Medical Division
Medical revenue accelerated its growth to 18% in Q2 2025 versus the prior year period. Medical revenues rose 17.6% year-over-year to a record $45.1 million in Q2 2025. The Medical segment adjusted EBITDA margin increased to 13.4% in Q2 2025 from 11.4% in Q1 2025.
Positive Outlook and Strategic Partnership
Blade's Medical division is entering a long-term partnership with Joby Aviation to gain access to Joby's eVTOL aircraft for medical use. The company plans to focus on organic growth and strategic acquisitions supported by approximately $200 million of cash.
Improvement in Passenger Segment Profitability
Despite challenges, Passenger segment adjusted EBITDA tripled year-over-year from $0.8 million to $2.4 million. The Passenger segment flight margin rose 580 basis points year-over-year to 30.5% in Q2 2025.