Surf Air Mobility, Inc. (SRFM) AI Stock Analysis

• Market Cap: $134.51M
• Dividend Yield: N/A
• Average Volume (3M): 9.00M
• Price to Earnings (P/E): ―
• Beta (1Y): 3.36
• Revenue Growth: 31.17%
• EPS Growth: 83.01%
• Country: US
• Employees: 556
• Sector: Industrials
• Sector Strength: 83
• Industry: Airlines, Airports & Air Services
• EPS (TTM): -1.09
• Shares Outstanding: 33,712,010
• 10 Day Avg. Volume: 2,936,947
• 30 Day Avg. Volume: 9,000,377
• PEG Ratio: N/A
• Price to Book (P/B): 0.00
• Price to Sales (P/S): 0.00
• P/FCF Ratio: 0.00
• Enterprise Value/Market Cap: 1.36
• Enterprise Value/Revenue: 1.62
• Enterprise Value/Gross Profit: 95.29
• Enterprise Value/Ebitda: -4.04
• 1Y Price Target: $3.83
• Price Target Upside: -4.01% Downside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 3

• Rating: 47 Neutral
• Price Target: $4.50 ▲(12.78% Upside)

The overall stock score reflects significant financial challenges as the most impactful factor, with technical analysis indicating neutral momentum and valuation pointing to high risk due to unprofitability. The stock offering provides some optimism for the future, but immediate financial risks remain a substantial concern.

Positive Factors

Electric/Hybrid Powertrain Initiative

Surf Air Mobility is in late-stage discussions with a potential partner to capitalize on their electric/hybrid powertrain initiative, which could be a major catalyst for the stock.

Financial Turnaround

Analysts believe the company is positioned to emerge as the dominant player in the U.S. regional air mobility market, supported by improving financials and a strengthened balance sheet with new financing arrangements.

Operational Efficiency

Surf Air Mobility achieved a 35% year-over-year decrease in operating expenses, significantly improving operational efficiency.

Negative Factors

Capital Constraints

Surf Air Mobility remains capital-constrained with limited cash and a high average quarterly cash burn rate.

Revenue Decrease

Surf Air Mobility reported a revenue decrease of 23% compared to the previous year, primarily due to efforts to eliminate unprofitable routes.

Scheduled Air Service Challenges

Scheduled Air Service revenues dropped primarily due to the elimination of many unprofitable routes, indicating challenges in that segment.

Surf Air Mobility, Inc. Business Overview & Revenue Model

Company Description

Surf Air Mobility Inc. operates as an electric aviation and air travel company in the United States. It offers an air mobility platform with scheduled routes and on demand charter flights operated by third parties; and air cargo services. The company is headquartered in Hawthorne, California.

How the Company Makes Money

Surf Air Mobility generates revenue primarily through its aviation services, which include offering subscription-based flight services and on-demand charter flights. The company is working towards integrating hybrid-electric aircraft into its fleet, which is expected to provide cost savings on fuel and maintenance, thereby improving profitability. Additionally, Surf Air Mobility may engage in strategic partnerships with aircraft manufacturers and technology firms to further develop and implement its sustainable aviation technologies, potentially opening up new revenue streams through collaborations or technology licensing. The company's focus on regional routes allows it to capture a niche market segment, contributing to its earnings.

Surf Air Mobility, Inc. Financial Statement Overview

Summary

Surf Air Mobility, Inc. faces significant financial challenges across all verticals. Consistently negative profitability and high leverage present a risky financial position. While there has been some revenue growth and cash management efforts, the company's overall financial health remains weak, with an urgent need for strategic improvements.

Income Statement

The income statement shows significant challenges with profitability, evident from the consistent negative net income and EBIT margins. Although there was revenue growth in earlier years, recent periods have seen a decline. Margins remain poor, with gross profit margin turning positive only in the latest TTM data. Despite these setbacks, the company's ability to increase revenue over some periods is a positive indicator.

Balance Sheet

The balance sheet reflects a high-risk profile with negative stockholders' equity and increasing total liabilities. The debt-to-equity ratio is concerning due to negative equity, indicating financial instability. However, the company has managed to maintain some level of cash and equivalents, which is a minor positive amidst the otherwise weak balance sheet.

Cash Flow

Cash flow statements reveal ongoing operational challenges, with negative operating and free cash flows throughout the periods. The cash flow from financing activities has been positive, suggesting reliance on external financing. The lack of positive operating cash flow to net income ratio highlights inefficiencies in converting revenue into cash flow.

Breakdown	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	119.42M	60.51M	100.61M	11.80M	7.50M
Gross Profit	9.49M	-5.17M	6.19M	-3.75M	-3.53M
EBITDA	-58.24M	-247.27M	-72.74M	-32.59M	-19.04M
Net Income	-74.91M	-250.70M	-117.15M	-35.78M	-23.44M
Balance Sheet
Total Assets	124.06M	110.99M	13.70M	7.56M	11.71M
Cash, Cash Equivalents and Short-Term Investments	21.11M	1.72M	6.00K	719.00K	7.40M
Total Debt	92.49M	47.45M	30.25M	23.47M	20.39M
Total Liabilities	244.06M	188.47M	235.79M	180.58M	153.25M
Stockholders Equity	-120.00M	-77.48M	-222.09M	-173.03M	-141.54M
Cash Flow
Free Cash Flow	-66.08M	-72.15M	-28.34M	-24.19M	-9.03M
Operating Cash Flow	-54.32M	-64.37M	-28.04M	-23.93M	-8.73M
Investing Cash Flow	-3.61M	-7.10M	-298.00K	-261.00K	302.00K
Financing Cash Flow	77.17M	72.99M	27.67M	18.25M	14.18M

Surf Air Mobility, Inc. Technical Analysis

• Technical Analysis Sentiment: Neutral
• Last Price: 3.99
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SRFM, the sentiment is Neutral. The current price of 3.99 is below the 20-day moving average (MA) of 4.99, above the 50-day MA of 3.98, and above the 200-day MA of 3.48, indicating a neutral trend. The MACD of -0.11 indicates Positive momentum. The RSI at 44.24 is Neutral, neither overbought nor oversold. The STOCH value of 11.42 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for SRFM.

Surf Air Mobility, Inc. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	64 Neutral	$10.65B	16.19	5.48%	2.12%	2.75%	-22.21%
BLDE	50 Neutral	$321.88M	―	-8.39%	―	6.70%	63.35%
UP	49 Neutral	$978.32M	―	-2416.94%	―	-20.21%	88.09%
SRFM	47 Neutral	$134.51M	―	138.02%	―	31.17%	83.01%
FLYX	47 Neutral	$182.70M	28.86	26.01%	―	―	―
MESA	45 Neutral	$45.21M	―	-472.57%	―	-11.55%	-76.38%
SOAR	45 Neutral	$2.72M	―	-398.23%	―	-4.90%	81.88%

Surf Air Mobility, Inc. Corporate Events

Surf Air Mobility Approves Key Proposals at Annual Meeting

On June 26, 2025, Surf Air Mobility Inc. held its Annual Meeting where stockholders approved several key proposals, including the election of Class B directors and the ratification of PricewaterhouseCoopers LLP as the independent registered public accounting firm for the fiscal year ending December 31, 2025. Additionally, stockholders approved an amendment to the company’s certificate of incorporation to implement a reverse stock split and an increase in the share reserve under the Amended and Restated 2023 Equity Incentive Plan by 3,500,000 shares. These decisions are set to impact the company’s governance and financial structuring, potentially influencing its market position and shareholder value.

The most recent analyst rating on (SRFM) stock is a Buy with a $12.00 price target. To see the full list of analyst forecasts on Surf Air Mobility, Inc. stock, see the SRFM Stock Forecast page.

Surf Air Mobility Announces $27 Million Stock Offering

On June 25, 2025, Surf Air Mobility, Inc. entered into a securities purchase agreement with certain investors for a registered direct offering of 10,800,002 shares of common stock at $2.50 per share, including pre-funded warrants to purchase up to 926,668 shares. The offering closed on June 26, 2025, generating approximately $27 million in gross proceeds. The company issued warrants to H.C. Wainwright & Co., LLC, the placement agent, to purchase up to 540,000 shares at $3.125 per share. During a restricted period of 60 days following the closing date, the company agreed not to sell or dispose of any additional shares. This offering is part of the company’s strategy to strengthen its financial position and enhance its market presence.

The most recent analyst rating on (SRFM) stock is a Buy with a $12.00 price target. To see the full list of analyst forecasts on Surf Air Mobility, Inc. stock, see the SRFM Stock Forecast page.