Blade Air Mobility (BLDE) AI Stock Analysis

• Market Cap: $307.87M
• Dividend Yield: N/A
• Average Volume (3M): 572.93K
• Price to Earnings (P/E): ―
• Beta (1Y): 1.88
• Revenue Growth: 12.04%
• EPS Growth: -30.50%
• Country: US
• Employees: 310
• Sector: Industrials
• Sector Strength: 90
• Industry: Airlines, Airports & Air Services
• EPS (TTM): -0.04
• Shares Outstanding: 81,017,310
• 10 Day Avg. Volume: 566,662
• 30 Day Avg. Volume: 572,933
• PEG Ratio: 0.28
• Price to Book (P/B): 0.91
• Price to Sales (P/S): 0.00
• P/FCF Ratio: -5.73
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: $8.33
• Price Target Upside: 96.46% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 3

• Rating: 56 Neutral
• Price Target: ―

Blade Air Mobility is experiencing strong revenue growth and positive momentum but is hindered by profitability challenges and weak valuation metrics. The earnings call highlighted strategic achievements and improvements, contributing to an optimistic outlook despite existing operational challenges.

Positive Factors

Earnings

Swift internal improvements led to its first ever year of EBITDA profitability, and drivers behind this will continue and be supplemented by high margin, newly owned aircraft.

Market Position

Blade is taking market share from legacy sub-scale service providers, while longer flights and an expanded pool of donor organs via technological innovation drive volume growth.

Revenue Growth

Q4’24 revenue grew a healthy 15% YoY despite a (7%) headwind from its exit of Canadian operations, and both the Medical and Passenger segments saw YoY segment-level EBITDA improve by $2.5M+.

Negative Factors

Geographic Market Exit

Q4’24 revenue grew a healthy 15% YoY despite a (7%) headwind from its exit of Canadian operations.

Operational Challenges

Blade reported a solid Q4’24 top line beat via its Passenger segment while tight OpEx control drove a narrower than expected EBITDA loss in the seasonally weak quarter.

Valuation Concerns

Analyst believes Blade remains undervalued on the current year outlook alone, and materially undervalued when considering the multiple catalysts which could drive further profitability growth and TAM expansion in FY26+.

Blade Air Mobility Business Overview & Revenue Model

Company Description

Blade Air Mobility, Inc. (BLDE) is a technology-driven air mobility company providing cost-effective, on-demand air transportation solutions. The company operates in the urban air mobility sector, offering services such as helicopter and seaplane flights primarily within urban areas and popular leisure destinations. Blade's core services include short-distance flights, organ transportation, and logistics services, leveraging partnerships with third-party operators to deliver efficient and seamless travel experiences.

How the Company Makes Money

Blade Air Mobility generates revenue through several key streams. The primary revenue source is passenger fare from its air mobility services, which includes helicopter and seaplane flights. Blade operates a marketplace model where it connects passengers with third-party operators who own and operate the aircraft. The company earns a commission from each booking facilitated through its platform. Blade also generates revenue from organ transportation services, leveraging its fast and efficient air transport capabilities to assist in critical medical logistics. Additionally, Blade engages in partnerships and collaborations with urban development and infrastructure companies to expand its services and market reach, contributing to its earnings. These partnerships often involve strategic agreements that enhance Blade's operational scale and service offerings, thereby increasing its revenue potential.

Blade Air Mobility Financial Statement Overview

Summary

Blade Air Mobility shows strong revenue growth but faces profitability challenges with negative profit margins. The balance sheet is stable with a high equity ratio, but cash flow issues are significant risks, requiring improvements in operational efficiency and cash flow management.

Income Statement

Blade Air Mobility shows consistent revenue growth with a notable increase of 65.4% from 2022 to 2023. However, the company has been operating at a net loss, with a net profit margin of -21.3% in TTM, indicating challenges in achieving profitability. The EBIT and EBITDA margins are also negative, at -25.3% and -22.1% respectively, reflecting operational inefficiencies.

Balance Sheet

The company's balance sheet reveals a strong equity position, with an equity ratio of 82.5% in TTM, indicating financial stability. However, the debt-to-equity ratio is relatively low at 0.10, suggesting limited leverage use. Despite a decrease in total assets, the stockholders' equity remains robust, showing potential for future growth.

Cash Flow

Blade Air Mobility's cash flow position is concerning, with negative operating and free cash flows, and a declining free cash flow growth rate. The operating cash flow to net income ratio is 0.20 in TTM, highlighting inefficiencies in cash generation relative to earnings. The company needs to improve cash flow management to support ongoing operations.

Breakdown
TTM	Dec 2023	Dec 2022	Sep 2020	Sep 2019
Income Statement		Total Revenue
241.81M	225.18M	146.12M	23.43M	31.20M
	Gross Profit
55.34M	42.12M	22.27M	2.33M	4.70M
	EBIT
-61.19M	-68.12M	-53.53M	-10.36M	-11.54M
	EBITDA
-53.41M	-68.12M	-69.87M	-9.63M	-11.07M
	Net Income Common Stockholders
-51.45M	-56.08M	-27.26M	-10.16M	-10.84M
Balance Sheet		Cash, Cash Equivalents and Short-Term Investments
277.57M	166.14M	194.04M	12.16M	276.26M
	Total Assets
277.69M	294.94M	325.02M	17.71M	276.26M
	Total Debt
462.73K	24.52M	18.33M	1.89M	0.00
	Net Debt
-842.88K	-3.35M	-24.96M	-10.28M	0.00
	Total Liabilities
272.69M	60.64M	50.54M	6.63M	0.00
	Stockholders Equity
5.00M	234.30M	274.49M	11.08M	0.00
Cash Flow		Free Cash Flow
-38.06M	-34.46M	-37.86M	-11.20M	-11.16M
	Operating Cash Flow
-10.09M	-32.35M	-37.13M	-10.82M	-10.30M
	Investing Cash Flow
-4.92M	17.09M	79.34M	-377.00K	-1.05M
	Financing Cash Flow
-1.91M	-76.00K	-1.08M	1.18M	116.00K

Blade Air Mobility Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 4.24
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Negative
• STOCH: Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For BLDE, the sentiment is Positive. The current price of 4.24 is above the 20-day moving average (MA) of 3.58, above the 50-day MA of 3.07, and above the 200-day MA of 3.46, indicating a bullish trend. The MACD of 0.24 indicates Negative momentum. The RSI at 73.02 is Negative, neither overbought nor oversold. The STOCH value of 87.89 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for BLDE.

Blade Air Mobility Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	66 Neutral	$4.50B	12.29	5.40%	248.66%	4.13%	-12.33%
JOBY	58 Neutral	$6.43B	―	-64.96%	―	-89.50%	-10.50%
BLDE	56 Neutral	$307.87M	―	-11.64%	―	12.04%	-30.50%
ACHR	49 Neutral	$5.59B	―	-73.89%	―	―	17.43%
LCID	45 Neutral	$6.56B	―	-50.06%	―	40.67%	3.40%
EVEX	43 Neutral	$1.62B	―	-148.98%	―	―	-2.94%
NKLAQ	38 Underperform	$9.12M	―	-129.17%	―	141.23%	69.50%