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Blade Air Mobility (BLDE)
NASDAQ:BLDE
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Blade Air Mobility
(NASDAQ:BLDE)
56Neutral
Positive Factors
Financial Performance
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.
Growth Potential
The FY25 outlook is favorable with mid-to-high single digit revenue growth and margin expansion via contributions from the owned fleet.
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.
Negative Factors
Market Position
Blade, a market-leading logistics provider for medical and urban air transportation, has transformed its business for the better over the last 24 months in an overlooked and undervalued manner.
Operational Challenges
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+.
Blade Air Mobility (BLDE) vs. S&P 500 (SPY)
Market Cap
$215.08M
Dividend YieldN/A
Average Volume (3M)648.71K
Price to Earnings (P/E)―
Beta (1Y)1.70
Revenue Growth12.04%
EPS Growth-30.50%
CountryUS
Employees310
SectorIndustrials
Sector Strength75
IndustryAirlines, Airports & Air Services
Share Statistics
EPS (TTM)-0.35
Shares Outstanding79,955,440
10 Day Avg. Volume549,335
30 Day Avg. Volume648,706
Financial Highlights & Ratios
PEG RatioN/A
Price to Book (P/B)N/A
Price to Sales (P/S)0.00
Price to Cash Flow (P/CF)0.00
P/FCF Ratio0.00
Enterprise Value/Market Cap1.02
Enterprise Value/RevenueN/A
Enterprise Value/Gross Profit5.19
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
$5.83Price Target Upside115.93% 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 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 | |||
| Dec 2023 | Dec 2022 | Sep 2020 | Sep 2019 |
|---|---|---|---|
| Income Statement | Total Revenue | ||
| 225.18M | 146.12M | 23.43M | 31.20M | Gross Profit |
| 42.12M | 22.27M | 2.33M | 4.70M | EBIT |
| -68.12M | -53.53M | -10.36M | -11.54M | EBITDA |
| -68.12M | -69.87M | -9.63M | -11.07M | Net Income Common Stockholders |
| -56.08M | -27.26M | -10.16M | -10.84M |
| Balance Sheet | Cash, Cash Equivalents and Short-Term Investments | ||
| 166.14M | 194.04M | 12.16M | 276.26M | Total Assets |
| 294.94M | 325.02M | 17.71M | 276.26M | Total Debt |
| 24.52M | 18.33M | 1.89M | 0.00 | Net Debt |
| -3.35M | -24.96M | -10.28M | 0.00 | Total Liabilities |
| 60.64M | 50.54M | 6.63M | 0.00 | Stockholders Equity |
| 234.30M | 274.49M | 11.08M | 0.00 |
| Cash Flow | Free Cash Flow | ||
| -34.46M | -37.86M | -11.20M | -11.16M | Operating Cash Flow |
| -32.35M | -37.13M | -10.82M | -10.30M | Investing Cash Flow |
| 17.09M | 79.34M | -377.00K | -1.05M | Financing Cash Flow |
| -76.00K | -1.08M | 1.18M | 116.00K |
Blade Air Mobility Technical Analysis
Neutral
2.70
Price Trends
2.98
Negative
3.54
Negative
3.44
Negative
Market Momentum
-0.09
Negative
45.91
Neutral
67.27
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 2.7 is above the 20-day moving average (MA) of 2.66, below the 50-day MA of 2.98, and below the 200-day MA of 3.44, indicating a neutral trend. The MACD of -0.09 indicates Negative momentum. The RSI at 45.91 is Neutral, neither overbought nor oversold. The STOCH value of 67.27 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral 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 (63)
Financial Indicators
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
63 Neutral | $4.29B | 11.36 | 5.34% | 214.53% | 4.14% | -9.10% | |
56 Neutral | $215.08M | ― | -11.97% | ― | 12.04% | -30.50% | |
41 Neutral | $48.01M | ― | 138.02% | ― | 97.38% | 72.63% | |
39 Underperform | $224.36M | 28.86 | 26.01% | ― | ― | ― | |
30 Underperform | $594.11M | ― | -2416.94% | ― | -36.80% | 96.50% | |
22 Underperform | $4.32M | ― | -398.23% | ― | -21.31% | 67.99% |
* Industrials Sector Average
Performance Comparison
BLDE
Blade Air Mobility
2.70
-0.49
-15.36%
MESA
Mesa Air Group
1.13
0.21
22.83%
UP
Wheels Up Experience
0.98
-1.26
-56.25%
FLYX
flyExclusive
2.73
-1.49
-35.31%
SOAR
Volato Group
2.31
-42.44
-94.84%
SRFM
Surf Air Mobility, Inc.
2.50
-0.63
-20.13%
Blade Air Mobility Earnings Call Summary
Earnings Call Date:Mar 13, 2025
(Q4-2024)
| % Change Since: -4.59%|
Next Earnings Date:May 12, 2025
Earnings Call Sentiment Positive
Blade Air Mobility demonstrated significant financial achievements with its first full year of adjusted EBITDA profitability and strong revenue growth in the passenger and medical segments. Strategic partnerships and technological advancements are promising for future growth. However, challenges such as exiting the Canadian market, volatility in medical segment revenue, and elevated maintenance costs present near-term hurdles.Q4-2024 Updates
Positive Updates
First Full Year of Adjusted EBITDA Profitability
Blade Air Mobility achieved its first full year of adjusted EBITDA profitability with a $17.8 million year-over-year improvement and a 40% year-over-year increase in Q4 flight profit.
Strong Revenue Growth
Excluding Canada, revenue increased by 22.1% in Q4 2024 compared to the previous year, with the New York City airport transfer service seeing high teens year-over-year revenue expansion.
Medical Segment Success
The medical segment adjusted EBITDA improved by 119.6% year-over-year on 13.7% revenue growth, achieving margins above the 15% near-term target for the first time.
Strategic Partnerships and Technological Advancements
Announced a strategic partnership with Skyports Infrastructure and launched a new mobile app with enhanced user experience and functionality.
Cash Reserves and No Debt
Blade ended 2024 with $127 million in cash and short-term investments and no debt, providing flexibility for strategic investments.
Negative Updates
Exit from Canadian Market
Blade exited the Canadian market in 2024, which impacted the revenue base but was part of a strategic decision to optimize operations.
Volatility in Medical Segment Revenue
Medical revenue growth was less than anticipated in Q4 2024 due to softer industry transplant volumes, with expected flat or slightly down revenue in Q1 2025.
Elevated Maintenance Costs
The first half of 2025 will experience elevated maintenance costs and downtime for the owned fleet, impacting profitability.
Cautious Outlook for Jet and Other Revenue
Blade anticipates a 5% to 10% decline in Jet and Other revenue in 2025 due to macroeconomic impacts and low visibility.
Company Guidance
During Blade Air Mobility's Fiscal Fourth Quarter 2024 Earnings Conference Call, the company provided comprehensive guidance on its financial performance and strategic direction. Blade reported its first full year of adjusted EBITDA profitability, with a $17.8 million year-over-year improvement in 2024. The company's revenue, excluding Canada, increased by 22.1% in Q4 2024, while flight profit rose by 40% year-over-year, and adjusted EBITDA grew by $4.9 million. Blade's passenger segment achieved a $3.6 million adjusted EBITDA for the full year 2024, marking an $8.6 million increase compared to the previous year. In the medical segment, adjusted EBITDA improved by 119.6% year-over-year on 13.7% revenue growth, with Q4 marking the first quarter where medical segment adjusted EBITDA margins exceeded the 15% target. Looking ahead to 2025, Blade expects revenue between $245 million and $265 million, with double-digit adjusted EBITDA. The passenger segment is anticipated to generate $90 million to $100 million in revenue, despite a 5% to 10% expected decline in Jet and Other. The medical segment is projected to achieve double-digit revenue growth in the second half of 2025, driven by new customer contracts and strategic partnerships. Blade also reported $127 million in cash and short-term investments at the end of 2024, positioning the company for strategic investments.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.