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Surf Air Mobility, Inc. (SRFM)
NYSE:SRFM
Earnings Data
Report Date
May 20, 2025TBA Not Confirmed
Period Ending
2025 (Q1)Consensus EPS Forecast
-1.08Last Year’s EPS
-3.36Same Quarter Last Year
Moderate Buy
Based on 2 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Mar 18, 2025
|% Change Since: -38.54%
|Next Earnings Date:May 20, 2025
Earnings Call Sentiment|Positive
The earnings call highlights significant achievements such as revenue growth exceeding guidance, improvement in adjusted EBITDA, successful financing, and advancements in strategic initiatives like SurfOS and electrification. However, there are challenges, including a decline in scheduled service revenue, maintenance backlog issues, and liquidity constraints that were addressed by the end of the year.Company Guidance
During the Surf Air Mobility fourth quarter and full year 2024 earnings call, several key metrics and guidance for future performance were discussed. The company reported fourth-quarter revenue of $28.05 million, surpassing the upper end of their guidance range of $25 million to $28 million. Notably, the adjusted EBITDA loss for the quarter improved by $11.5 million, or 63%, reaching $6.9 million, within the guidance range of $5 million to $8 million. For the full year, revenue increased by 6% year-over-year to $119.4 million, while the adjusted EBITDA loss improved by $6.8 million, or 13%, to $44.1 million. Looking ahead to 2025, the company aims to achieve profitability in its airline operations, defined as positive adjusted EBITDA, by focusing on process improvements, exiting unprofitable routes, and leveraging their proprietary SurfOS platform. For Q1 2025, the company guides revenue between $21 million and $24 million and an adjusted EBITDA loss of $12 million to $15 million. Additionally, Surf Air Mobility plans to continue developing its electrification initiatives, with the Cessna Caravan Supplemental Type Certificate on track for completion in 2027, and aims to commercialize the SurfOS platform by 2026.Revenue Growth and Exceeded Guidance
Fourth quarter revenue rose 5% to $28.05 million, exceeding the high end of the revenue guidance of $25 million to $28 million. Full year revenue rose 6% to $119.4 million.
Improvement in Adjusted EBITDA
Adjusted EBITDA loss improved by $11.5 million or 63% for the fourth quarter of 2024 and by $6.8 million or 13% for the full year.
Successful Financing and Capital Structure Improvement
Secured a $50 million term loan at attractive rates, extended the maturity of secured debt, and reduced liabilities by over $42 million.
SurfOS Platform Development
Rolled out SurfOS to beta users, introduced several new features, and established multilingual and multi-currency marketplace capabilities.
Electrification Initiatives Progress
Engaged with FAA on certification planning for the Cessna Caravan Supplemental Type Certificate, and established a Cessna Electrification Customer Advisory Board.
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SRFM Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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SRFM Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Mar 18, 2025 | $3.84 | $4.03 | +4.95% |
| Nov 14, 2024 | $1.72 | $1.64 | -4.65% |
| Aug 14, 2024 | $2.54 | $2.11 | -16.93% |
| May 14, 2024 | $3.34 | $2.89 | -13.47% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Surf Air Mobility, Inc. (SRFM) report earnings?
Surf Air Mobility, Inc. (SRFM) is schdueled to report earning on May 20, 2025, TBA Not Confirmed.
What is Surf Air Mobility, Inc. (SRFM) earnings time?
Surf Air Mobility, Inc. (SRFM) earnings time is at May 20, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is SRFM EPS forecast?
SRFM EPS forecast for the fiscal quarter 2025 (Q1) is -1.08.
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