Blade Air Mobility (BLDE) AI Stock Analysis

• Market Cap: $336.59M
• Dividend Yield: N/A
• Average Volume (3M): 1.55M
• Price to Earnings (P/E): ―
• Beta (1Y): 1.92
• Revenue Growth: 6.70%
• EPS Growth: 63.35%
• Country: US
• Employees: 310
• Sector: Industrials
• Sector Strength: 78
• Industry: Airlines, Airports & Air Services
• EPS (TTM): -0.05
• Shares Outstanding: 81,695,600
• 10 Day Avg. Volume: 3,187,953
• 30 Day Avg. Volume: 1,549,963
• PEG Ratio: N/A
• Price to Book (P/B): N/A
• Price to Sales (P/S): N/A
• P/FCF Ratio: N/A
• Enterprise Value/Market Cap: 0.66
• Enterprise Value/Revenue: 0.87
• Enterprise Value/Gross Profit: 3.56
• Enterprise Value/Ebitda: -12.19
• 1Y Price Target: $5.50
• Price Target Upside: 33.50% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 2

• Rating: 55 Neutral
• Price Target: $4.50 ▲(9.22% Upside)

Blade Air Mobility's overall score is primarily driven by the positive strategic shift highlighted in the earnings call, focusing on the Medical division's growth. However, financial performance challenges, including negative profitability and cash flow issues, weigh down the score. Technical indicators provide a balanced outlook, while valuation remains a concern due to negative earnings.

Positive Factors

Earnings

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.

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.

Profitability

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.

Revenue Growth

The FY25 outlook is favorable with mid-to-high single digit revenue growth and margin expansion via contributions from the owned fleet.

Negative Factors

Market Exit

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+.

Valuation

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 urban air mobility company that provides short-distance aviation services. It focuses on offering cost-effective, time-saving alternatives to ground transportation in congested urban areas. Blade's core services include air transportation using helicopters and seaplanes for routes such as airport transfers, commuter flights, and leisure travel. The company operates across several key markets and is committed to transitioning its fleet to electric vertical takeoff and landing (eVTOL) aircraft as technology and regulatory environment permit.

How the Company Makes Money

Blade Air Mobility primarily generates revenue through ticket sales for its air transportation services. The company operates on a per-seat booking model, allowing customers to purchase individual seats on scheduled flights or charter entire aircraft for private use. Blade also earns income from its partnerships with operators and manufacturers of aircraft, enhancing its service offerings and expanding its geographic reach. Additionally, Blade capitalizes on its technology platform that optimizes route scheduling and customer booking experiences, which can result in operational efficiencies and customer loyalty. Collaborations with real estate developers and hospitality providers also contribute to its revenue by integrating Blade's services into luxury travel and urban development projects.

Blade Air Mobility Financial Statement Overview

Summary

Blade Air Mobility shows revenue growth but struggles with profitability, indicated by negative net income and EBIT. The balance sheet is stable with good equity levels, yet cash flow management needs improvement to support sustainable growth.

Income Statement

Blade Air Mobility's revenue has shown growth over the years, with a notable increase in gross profit margin from earlier years. However, the company has faced persistent challenges in profitability, indicated by negative EBIT and net profit margins. The TTM data shows slight improvements in gross profit margins, but the net income remains negative, reflecting ongoing operational challenges.

Balance Sheet

The company maintains a healthy equity position with a high equity ratio, indicating strong financial structure. However, the debt-to-equity ratio is manageable, suggesting moderate leverage. The return on equity remains negative, reflecting profitability challenges, but the balance sheet is stable with adequate liquidity.

Cash Flow

Blade Air Mobility's cash flows have improved in the TTM with positive operating cash flow. However, the free cash flow remains negative due to high capital expenditures. The operating cash flow to net income ratio is favorable, but the company needs to manage its cash flow more effectively to achieve positive free cash flow.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2020	Dec 2019
Income Statement
Total Revenue	254.34M	248.69M	225.18M	146.12M	23.43M	31.20M
Gross Profit	62.14M	58.92M	42.12M	22.27M	2.33M	4.70M
EBITDA	-18.16M	-27.96M	-68.12M	-69.87M	-9.63M	-11.07M
Net Income	-18.98M	-27.31M	-56.08M	-27.26M	-10.16M	-10.84M
Balance Sheet
Total Assets	257.92M	256.68M	294.94M	325.02M	17.71M	276.26M
Cash, Cash Equivalents and Short-Term Investments	113.42M	127.14M	166.14M	194.04M	12.16M	276.26M
Total Debt	8.84M	9.32M	24.52M	18.33M	1.89M	0.00
Total Liabilities	34.82M	34.74M	60.64M	50.54M	6.63M	0.00
Stockholders Equity	223.10M	221.94M	234.30M	274.49M	11.08M	0.00
Cash Flow
Free Cash Flow	-19.55M	-35.51M	-34.46M	-37.86M	-11.20M	-11.16M
Operating Cash Flow	1.29M	-2.52M	-32.35M	-37.13M	-10.82M	-10.30M
Investing Cash Flow	40.42M	-1.02M	17.09M	79.34M	-377.00K	-1.05M
Financing Cash Flow	-9.99M	-5.76M	-76.00K	-1.08M	1.18M	116.00K

Blade Air Mobility Technical Analysis

• Technical Analysis Sentiment: Neutral
• Last Price: 4.12
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For BLDE, the sentiment is Neutral. The current price of 4.12 is below the 20-day moving average (MA) of 4.19, above the 50-day MA of 4.10, and above the 200-day MA of 3.66, indicating a neutral trend. The MACD of 0.04 indicates Negative momentum. The RSI at 49.41 is Neutral, neither overbought nor oversold. The STOCH value of 50.73 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for BLDE.

Blade Air Mobility Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	65 Neutral	$2.66B	15.28	15.18%	3.69%	0.27%	26.17%
BLDE	55 Neutral	$336.59M	―	-8.39%	―	6.70%	63.35%
FLYX	54 Neutral	$279.65M	28.86	26.01%	―	―	―
MESA	53 Neutral	$47.31M	―	-378.73%	―	-14.62%	-86.07%
UP	50 Neutral	$1.26B	―	-2416.94%	―	-20.21%	88.09%
SRFM	47 Neutral	$189.72M	―	138.02%	―	-3.95%	85.63%
SOAR	41 Neutral	$8.25M	―	-398.23%	―	-9.49%	97.34%

Blade Air Mobility Corporate Events

Blade Air Mobility Sells Passenger Division to Joby

On August 1, 2025, Blade Air Mobility entered into an agreement to sell its passenger division to Joby Aviation for up to $125 million. This transaction will allow Blade to focus on its medical services division, which will be rebranded as Strata Critical Medical, emphasizing its logistics and medical services. The divestiture is expected to be financially neutral and will enable Blade, now Strata, to access Joby’s eVTOL aircraft for medical transport, enhancing its service offerings. The management transition will see Rob Wiesenthal moving to Joby, while Will Heyburn and Melissa Tomkiel will become co-CEOs of Strata.

The most recent analyst rating on (BLDE) stock is a Buy with a $6.50 price target. To see the full list of analyst forecasts on Blade Air Mobility stock, see the BLDE Stock Forecast page.