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Blade Air Mobility (BLDE)
NASDAQ:BLDE
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Blade Air Mobility
(NASDAQ:BLDE)
Rating:56Neutral
Price Target:―
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 (BLDE) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$285.18M
Dividend YieldN/A
Average Volume (3M)577.72K
Price to Earnings (P/E)―
Beta (1Y)1.87
Revenue Growth12.04%
EPS Growth-30.50%
CountryUS
Employees310
SectorIndustrials
Sector Strength93
IndustryAirlines, Airports & Air Services
Share Statistics
EPS (TTM)-0.04
Shares Outstanding81,017,310
10 Day Avg. Volume550,608
30 Day Avg. Volume577,715
Financial Highlights & Ratios
PEG Ratio0.28
Price to Book (P/B)0.91
Price to Sales (P/S)0.00
P/FCF Ratio-5.73
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
$8.33Price Target Upside135.98% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering3
Blade Air Mobility Business Overview & Revenue Model
Company DescriptionBlade Air Mobility, Inc. provides air transportation alternatives to the congested ground routes in the United States. It provides its services through charter and by-the-seat flights using helicopters, jets, turboprops, and amphibious seaplanes. The company was founded in 2014 and is headquartered in New York, New York.
How the Company Makes MoneyBlade 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 Earnings Call Summary
Earnings Call Date:May 12, 2025
(Q1-2025)
| % Change Since: 20.89%|
Next Earnings Date:Aug 06, 2025
Earnings Call Sentiment Positive
The earnings call highlighted strong performance in the Passenger and Medical segments, driven by strategic restructuring and new partnerships. However, challenges such as maintenance downtime and economic uncertainties pose potential risks. The overall sentiment is positive due to the outweighing highlights.Q1-2025 Updates
Positive Updates
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.
Negative Updates
Impact of Helicopter Tour Incident
There was a moderate impact on demand for New York area services in April due to a helicopter tour incident, although it is expected to be temporary.
Maintenance Downtime in Medical Segment
Medical segment profitability declined due to elevated scheduled maintenance downtime, resulting in an 80 basis points drop in adjusted EBITDA margin.
Uncertainties in Economic Outlook
Potential impacts of economic uncertainty on the Passenger segment were noted, with some concern over softening travel fundamentals.
Company Guidance
During the Blade Air Mobility earnings call for the first quarter of fiscal year 2025, the company reported significant growth metrics, including an 11% increase in revenue excluding Canada and a $2.3 million year-over-year improvement in adjusted EBITDA. The Passenger segment experienced substantial growth, with segment revenue rising by 42% year-over-year, excluding Canada. This growth was largely attributed to the successful restructuring efforts in Europe and strategic cost rationalization initiatives. The Passenger segment also achieved its first adjusted EBITDA profitable first quarter since going public. Furthermore, the Medical segment exceeded expectations, launching services with two new large hospitals, contributing to an all-time record for trip volumes in April. With $120 million in cash and short-term investments, the company is well-positioned for strategic investments, including potential acquisitions in the Medical business. Blade Air Mobility reiterated its revenue and adjusted EBITDA guidance for 2025, anticipating double-digit revenue growth in the Medical segment despite macroeconomic uncertainties affecting the Passenger segment.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.42
Neutral
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.55
Neutral
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.40
Negative
| 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
Positive
3.53
Price Trends
3.00
Positive
3.27
Positive
3.45
Positive
Market Momentum
0.16
Positive
59.43
Neutral
44.74
Neutral
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 3.53 is above the 20-day moving average (MA) of 3.44, above the 50-day MA of 3.00, and above the 200-day MA of 3.45, indicating a bullish trend. The MACD of 0.16 indicates Positive momentum. The RSI at 59.43 is Neutral, neither overbought nor oversold. The STOCH value of 44.74 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for BLDE.
Blade Air Mobility Risk Analysis
Blade Air Mobility disclosed 54 risk factors in its most recent earnings report. Blade Air Mobility reported the most risks in the “Finance & Corporate” category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Blade Air Mobility Peers Comparison
Overall Rating
UnderperformOutperform
Sector (66)
Financial Indicators
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
66 Neutral | $4.49B | 12.28 | 5.32% | 248.53% | 4.08% | -12.00% | |
56 Neutral | $285.18M | ― | -11.64% | ― | 12.04% | -30.50% | |
| $42.16M | ― | -472.57% | ― | ― | ― | ||
52 Neutral | $235.58M | 28.86 | 26.01% | ― | ― | ― | |
47 Neutral | $1.01B | ― | -2416.94% | ― | -29.68% | 95.14% | |
41 Neutral | $3.96M | ― | -398.23% | ― | -4.90% | 81.88% | |
41 Neutral | $47.05M | ― | 138.02% | ― | 31.17% | 83.01% |
* Industrials Sector Average
Performance Comparison
BLDE
Blade Air Mobility
3.53
0.49
16.12%
MESA
Mesa Air Group
1.00
-0.34
-25.37%
UP
Wheels Up Experience
1.41
-0.60
-29.85%
FLYX
flyExclusive
2.93
-2.07
-41.40%
SOAR
Volato Group
2.04
-17.96
-89.80%
SRFM
Surf Air Mobility, Inc.
2.36
0.13
5.83%
Glossary
OutperformA stock rated as "Outperform" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock is likely to deliver higher returns compared to the average returns of other stocks in the same sector or market index. Investors might consider this stock a good buying opportunity.
NeutralA stock rated as "Neutral" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly attractive nor unattractive for investment. Investors may consider holding onto the stock, as it is not expected to either significantly outperform or underperform the market.
UnderperformA stock rated as "Underperform" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock may deliver lower returns compared to the average returns of other stocks in the same sector or market index. Investors might consider selling the stock or avoiding it as an investment.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.