Mon, May 12, 3:29 PM (42 days ago)
**Blade Air Mobility, Inc. (BLDE) Q1 2025 Financial Summary** **Financial Health and Performance:** - **Revenue:** $54.3 million, up 5.4% from $51.5 million in Q1 2024. - **Net Loss:** $3.5 million, improved from $4.2 million in Q1 2024. - **Adjusted EBITDA:** -$1.2 million, improved from -$3.5 million in Q1 2024. - **Gross Profit:** $8.1 million, up 38.3% from $5.9 million in Q1 2024. - **Gross Margin:** 14.9%, up from 11.4% in Q1 2024. - **Cash and Cash Equivalents:** $34.8 million, up from $18.4 million in Q1 2024. **Segment Performance:** - **Passenger Segment:** Revenue up 18.5% to $18.4 million, Adjusted EBITDA improved to $54,000 from -$2.7 million. - **Medical Segment:** Revenue down 0.2% to $35.9 million, Adjusted EBITDA down 7.1% to $4.1 million. **Operational Metrics:** - **Seats Flown:** 13,884, up from 13,286 in Q1 2024. - **Flight Margin:** 22.1%, up from 19.7% in Q1 2024. **Cash Flow:** - **Operating Cash Flow:** -$246,000, improved from -$15.6 million in Q1 2024. - **Investing Cash Flow:** $20.4 million, up from $24.6 million in Q1 2024. - **Financing Cash Flow:** -$4.2 million, down from $54,000 in Q1 2024. **Liquidity and Capital Resources:** - **Total Liquidity:** $120.0 million, down from $127.1 million in Q1 2024. - **Commitments:** $4.9 million for 2025 and $6.1 million for 2026 in flight purchase guarantees. **Future Operations Impact:** - Blade continues to focus on transitioning to Electric Vertical Aircraft (EVA) for lower cost, quieter, and emission-free air mobility. - The company is well-positioned to introduce EVA into commercial service, leveraging its asset-light model and proprietary technologies. - Blade's asset-light business model and technology platform are designed to be scalable and profitable using conventional aircraft today while enabling a seamless transition to EVA. **Uncertainties and Risks:** - Blade faces risks related to competition, regulatory changes, and the successful integration of EVA technology. - The company's ability to attract and retain customers, manage growth, and secure additional funding will be critical to its future success. - Blade's financial results are subject to seasonal fluctuations, with historically better performance in Q2 and Q3.