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Blade Air Mobility (BLDE)
NASDAQ:BLDE
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Blade Air Mobility
(NASDAQ:BLDE)
Rating:58Neutral
Price Target:
$4.50
▲(7.66%Upside)
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.
Financial Performance
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.
Negative Factors
Geographical Operations
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+.
Sector Transformation
The emergence of perfusion technologies has transformed this sector into a nationwide opportunity, in which Blade is one of only two nationally scaled service providers.
Blade Air Mobility (BLDE) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$338.65M
Dividend YieldN/A
Average Volume (3M)759.85K
Price to Earnings (P/E)―
Beta (1Y)1.86
Revenue Growth8.67%
EPS Growth49.62%
CountryUS
Employees310
SectorIndustrials
Sector Strength86
IndustryAirlines, Airports & Air Services
Share Statistics
EPS (TTM)-0.04
Shares Outstanding81,017,310
10 Day Avg. Volume789,599
30 Day Avg. Volume759,848
Financial Highlights & Ratios
PEG Ratio-2.02
Price to Book (P/B)1.39
Price to Sales (P/S)0.00
P/FCF Ratio-13.96
Enterprise Value/Market Cap0.84
Enterprise Value/Revenue0.29
Enterprise Value/Gross Profit4.68
Enterprise Value/Ebitda-1.70
Forecast
1Y Price Target
$10.00Price Target Upside139.23% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering2
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 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 Earnings Call Summary
Earnings Call Date:May 12, 2025
(Q1-2025)
| % Change Since: 43.15%|
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 revenue growth, but persistent profitability issues and negative net income weigh on its financial performance. The company has a strong balance sheet with adequate liquidity, yet cash flow management needs improvement.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.45
Neutral
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.55
Neutral
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.40
Negative
| Breakdown | TTM | Dec 2024 | Dec 2023 | Dec 2022 | Sep 2020 | Sep 2019 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 251.49M | 248.69M | 225.18M | 146.12M | 23.43M | 31.20M |
| Gross Profit | 60.76M | 58.92M | 42.12M | 22.27M | 2.33M | 4.70M |
| EBITDA | -24.70M | -27.96M | -68.12M | -69.87M | -9.63M | -11.07M |
| Net Income | -26.57M | -27.31M | -56.08M | -27.26M | -10.16M | -10.84M |
Balance Sheet | ||||||
| Total Assets | 250.55M | 256.68M | 294.94M | 325.02M | 17.71M | 276.26M |
| Cash, Cash Equivalents and Short-Term Investments | 120.01M | 127.14M | 166.14M | 194.04M | 12.16M | 276.26M |
| Total Debt | 9.07M | 9.32M | 24.52M | 18.33M | 1.89M | 0.00 |
| Total Liabilities | 30.82M | 34.74M | 60.64M | 50.54M | 6.63M | 0.00 |
| Stockholders Equity | 219.73M | 221.94M | 234.30M | 274.49M | 11.08M | 0.00 |
Cash Flow | ||||||
| Free Cash Flow | -22.23M | -35.51M | -34.46M | -37.86M | -11.20M | -11.16M |
| Operating Cash Flow | 12.79M | -2.52M | -32.35M | -37.13M | -10.82M | -10.30M |
| Investing Cash Flow | -5.17M | -1.02M | 17.09M | 79.34M | -377.00K | -1.05M |
| Financing Cash Flow | -10.06M | -5.76M | -76.00K | -1.08M | 1.18M | 116.00K |
Blade Air Mobility Technical Analysis
Positive
4.18
Price Trends
3.49
Positive
3.28
Positive
3.53
Positive
Market Momentum
0.16
Negative
62.56
Neutral
83.03
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 4.18 is above the 20-day moving average (MA) of 3.95, above the 50-day MA of 3.49, and above the 200-day MA of 3.53, indicating a bullish trend. The MACD of 0.16 indicates Negative momentum. The RSI at 62.56 is Neutral, neither overbought nor oversold. The STOCH value of 83.03 is Negative, 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 (58)
Financial Indicators
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
58 Neutral | $338.65M | ― | -11.64% | ― | 8.67% | 49.62% | |
58 Neutral | $1.34B | 4.24 | -2.93% | 7.38% | 3.67% | -51.13% | |
55 Neutral | $138.22M | ― | 138.02% | ― | 31.17% | 83.01% | |
51 Neutral | $38.45M | ― | -472.57% | ― | -11.55% | -76.38% | |
49 Neutral | $186.70M | 28.86 | 26.01% | ― | ― | ― | |
40 Underperform | $782.74M | ― | -2416.94% | ― | -29.68% | 95.14% | |
38 Underperform | $2.72M | ― | -398.23% | ― | -4.90% | 81.88% |
* Industrials Sector Average
Performance Comparison
BLDE
Blade Air Mobility
4.18
0.73
21.16%
MESA
Mesa Air Group
0.93
-0.63
-40.38%
UP
Wheels Up Experience
1.12
-1.94
-63.40%
FLYX
flyExclusive
2.33
-1.80
-43.58%
SOAR
Volato Group
1.31
-12.07
-90.21%
SRFM
Surf Air Mobility, Inc.
4.10
1.39
51.29%
Blade Air Mobility Corporate Events
Executive/Board ChangesShareholder Meetings
Blade Air Mobility Holds Annual Stockholder Meeting
Neutral
May 8, 2025
On May 6, 2025, Blade Air Mobility held its annual meeting of stockholders where several key proposals were voted on. The stockholders elected three Class I directors to the Board of Directors, ratified the appointment of Deloitte & Touche LLP as the independent registered public accounting firm for the fiscal year ending December 31, 2025, and approved advisory votes on executive compensation and its frequency. These decisions are likely to influence the company’s governance and financial oversight, potentially impacting its strategic direction and stakeholder confidence.
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
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.