Significant Revenue Growth
Second quarter revenue of $27.4 million exceeded guidance of $23.5 million to $26.5 million, rising 17% sequentially versus the first quarter.
Operational Improvements
On-time departure, on-time arrival, and controllable completion factor improved by double-digit percentages compared to the previous year.
Profitability in Airline Operations
Achieved profitability in airline operations for the second quarter, aligning with the goal of profitability for the full year.
Strategic Partnerships
Signed an interline agreement with Japan Airlines and renewed Essential Air Service contracts valued at $14 million.
Successful Capital Raise
Raised approximately $45 million in additional capital during the second quarter, strengthening the balance sheet.
Software Platform Development
SurfOS platform development is advancing as planned, with beta users evaluating the system, and partnerships with Palantir and Textron Aviation.
Positive Adjusted EBITDA Performance
Adjusted EBITDA loss for Q2 was $9.5 million, outperforming guidance of a $10 million to $13 million loss, improving by $4.8 million sequentially.