Surf Air Mobility Inc.
3.9600-0.08 (-1.98%)
Oct 29, 4:00:02 PM EDT · NYSE · SRFM · USD
Key Stats
Market Cap
169.59MP/E (TTM)
-Basic EPS (TTM)
-2.64Dividend Yield
0%Recent Filings
8-K
Pelsinger joins Surf Air board
Surf Air Mobility appointed Shawn Pelsinger, ex-Global Head of Corporate Development at Palantir, as a Class A board director effective October 8, 2025. Pelsinger, who forged the company's 2021 Palantir partnership powering SurfOS, brings expertise in aviation tech and regulated sectors. He receives $231,000 in vesting RSUs. His insights sharpen SurfOS commercialization. Board gains a Palantir insider.
8-K
Director Tyrone Bland resigns
Surf Air Mobility announced that director Tyrone Bland resigned effective August 27, 2025, to chase public sector lobbying and political opportunities. No disagreements with company operations surfaced. The board thanked him for his contributions. Bland's exit leaves the board leaner amid ongoing growth efforts.
10-Q
Q2 FY2025 results
Surf Air Mobility narrowed its Q2 operating loss to $15.9M from $25.3M a year earlier, while revenue dipped 15% y/y to $27.4M amid route exits and maintenance hurdles that trimmed scheduled flights 12%. Gross margins held steady as costs fell in tandem, but fair-value swings on debt instruments widened the net loss slightly to $28.0M, or $1.34 per diluted share—reconciled against 20.9M weighted shares with no anti-dilution flags. Cash climbed to $22.6M on $31.4M from stock offerings, bolstering liquidity despite $65.2M in debt (mostly Comvest term loan at SOFR+5% due 2028) and $5.5M revolver availability; free cash flow not disclosed in the 10-Q. YTD trends mirror quarterly gains, with headcount down 19% aiding expense cuts. Yet regulatory delays in electrification tech linger as a key hurdle.
8-K
Q2 revenue beats guidance
Surf Air Mobility reported Q2 2025 revenue of $27.4 million, topping guidance of $23.5-$26.5 million, while Adjusted EBITDA loss narrowed to $9.5 million from the expected $10.0-$13.0 million range. Airline operations turned profitable for the quarter, fueled by 20% scheduled service growth and a controllable completion factor jump to 95%, yet net loss widened to $28.0 million amid fair value swings. The company raised $44.7 million in equity, strengthening its balance sheet, and inked a five-year exclusive Palantir deal post-quarter for software sales to regional air operators. Q3 revenue eyes $27.0-$28.5 million; full-year targets hold at over $100 million with airline profitability. Balance sheet deleveraging continues, but liquidity hinges on execution.
8-K
Surf Air approves equity plan, directors
Surf Air Mobility's stockholders approved key governance measures at the June 26, 2025 annual meeting, electing David Anderman, John D'Agostino, and Edward Mady as Class B directors for three-year terms and ratifying PwC as auditors for 2025. They also greenlit an amended 2023 Equity Incentive Plan, boosting the share reserve by 3,500,000 shares to attract and retain talent. A reverse stock split authorization, at ratios from 2:1 to 5:1, signals compliance efforts. This bolsters incentive alignment amid growth pressures.
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