Latest news with #SRFM
Associated Press
15-05-2025
- Business
- Associated Press
Stonegate Capital Partners Updates Coverage on Surf Air Mobility Inc. (SRFM) 2025 Q1
Dallas, Texas--(Newsfile Corp. - May 15, 2025) - Surf Air Mobility Inc. (NYSE: SRFM): Stonegate Capital Partners updates their coverage on Surf Air Mobility Inc. (NYSE: SRFM). SRFM reported revenue, adj EBITDA, and adj EPS of $23.5M, ($14.4)M, and ($1.09), respectively. It is notable that the Company was well within both revenue and EBITDA guidance in the quarter, despite a short unscheduled downtime towards the beginning of the quarter and a decrease in OnDemand services revenue as the Company continues to focus on charter profitability. With the Company moving out of the Transformation Phase into the Optimization Phase we expect SRFM to improve profitability through strategic cost take outs and optimizations, with very noticeable growth expected towards the back half of FY25. We are very encouraged by the interline agreement that SRFM entered with Japan Airline, the Company's first interline agreement with an international airline. We note that this combined with the Company's launch of the new Jet Card shows the high priority of end-user experience. To view the full announcement, including downloadable images, bios, and more, click here. Key Takeaways: [ This image cannot be displayed. Please visit the source: ] Click image above to view full announcement. About Stonegate Stonegate Capital Partners is a leading capital markets advisory firm providing investor relations, equity research, and institutional investor outreach services for public companies. Our affiliate, Stonegate Capital Markets (member FINRA) provides a full spectrum of investment banking services for public and private companies. Contacts: Stonegate Capital Partners (214) 987-4121 [email protected] Source: Stonegate, Inc. To view the source version of this press release, please visit
Yahoo
15-05-2025
- Business
- Yahoo
Stonegate Capital Partners Updates Coverage on Surf Air Mobility Inc. (SRFM) 2025 Q1
Dallas, Texas--(Newsfile Corp. - May 15, 2025) - Surf Air Mobility Inc. (NYSE: SRFM): Stonegate Capital Partners updates their coverage on Surf Air Mobility Inc. (NYSE: SRFM). SRFM reported revenue, adj EBITDA, and adj EPS of $23.5M, ($14.4)M, and ($1.09), respectively. It is notable that the Company was well within both revenue and EBITDA guidance in the quarter, despite a short unscheduled downtime towards the beginning of the quarter and a decrease in OnDemand services revenue as the Company continues to focus on charter profitability. With the Company moving out of the Transformation Phase into the Optimization Phase we expect SRFM to improve profitability through strategic cost take outs and optimizations, with very noticeable growth expected towards the back half of FY25. We are very encouraged by the interline agreement that SRFM entered with Japan Airline, the Company's first interline agreement with an international airline. We note that this combined with the Company's launch of the new Jet Card shows the high priority of end-user experience. To view the full announcement, including downloadable images, bios, and more, click here. Key Takeaways: First Quarter Revenue of $23.5 Million, achieving the High End of Guidance Range. Continued Strong Progress Against Transformation Plan. SRFM announced that Mokulele Airlines will launch a new interline agreement with Japan Airlines ("JAL"), a leading Japanese airline. Click image above to view full announcement. About StonegateStonegate Capital Partners is a leading capital markets advisory firm providing investor relations, equity research, and institutional investor outreach services for public companies. Our affiliate, Stonegate Capital Markets (member FINRA) provides a full spectrum of investment banking services for public and private companies. Contacts: Stonegate Capital Partners (214) 987-4121 info@ Source: Stonegate, Inc. To view the source version of this press release, please visit Sign in to access your portfolio
Yahoo
14-05-2025
- Business
- Yahoo
Nu Holdings Ltd (NU) Q1 2025 Earnings Call Highlights: Record Customer Growth and Strategic ...
Customer Growth: Added 4.3 million customers in Q1 2025, reaching a total of 119 million. Revenue in Mexico: Nearly doubled on an FX neutral basis, reaching $245 million last quarter. Credit Portfolio: Reached $24.1 billion in Q1, growing 8% quarter over quarter and 40% year over year on an FX-neutral basis. Loan Originations: Total loan originations reached a record of BRL20.2 billion in Q1, up 64% year over year. Deposits: Total deposits reached $31.6 billion in Q1, up 48% year over year on an FX-neutral basis. Net Interest Income (NII): Grew 34% year over year and 5% quarter over quarter on an FX-neutral basis, reaching $1.8 billion. Net Interest Margin (NIM): Declined 20 basis points to 17.5%. Gross Profit: Totaled $1.3 billion in Q1, up 32% year over year on an FX-neutral basis. Efficiency Ratio: Improved to 24.7%, reflecting a 520-basis-points sequential improvement. Net Income: Reached $557 million in Q1, up 74% year over year on an FX-neutral basis. 15 to 90 Days NPLs: Rose by 60 basis points to 4.7%. 90-plus NPLs: Declined by 50 basis points to 6.5%. Credit Loss Allowance: Rose to $973.5 million in Q1. Warning! GuruFocus has detected 4 Warning Signs with SRFM. Release Date: May 13, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Nu Holdings Ltd (NYSE:NU) added 4.3 million customers in Q1 2025, reaching a total of 119 million across all markets. The company achieved a high customer engagement with nearly 100 million monthly active customers and an activity ratio above 83%. Nu Holdings Ltd (NYSE:NU) received approval for a banking license in Mexico, which is expected to accelerate growth and product offerings. The company's Average Revenue Per Active Customer (ARPAC) has the potential to grow significantly, with historical cohorts showing a fivefold increase over seven to eight years. Operating efficiency improved with an efficiency ratio of 24.7%, reflecting a 520-basis-point sequential improvement. Gross profit margins declined to 40.6% due to higher credit loss allowance and increased interest expenses in Brazil. Net interest margins (NIM) in Mexico and Colombia were temporarily impacted by strategic investments in building local deposit franchises. The company's consolidated net interest margins declined by 20 basis points to 17.5%, reflecting different stages of geographic operations. Credit loss allowance increased due to seasonal effects and portfolio growth, impacting risk-adjusted NIM. The expansion of deposit bases in Mexico and Colombia placed short-term pressure on margins. Q: Can you explain the resilience of Brazil's Net Interest Margin (NIM) despite higher Selic rates and seasonal weaknesses? A: Guilherme Lago, Chief Financial Officer, explained that despite headwinds from higher Selic rates and a pullback from PIX financing, the resilience in Brazil's NIM is due to increased loan-to-deposit ratios (LDRs). This balance sheet re-leveraging is expected to drive NIM expansion in the medium term, although short-term fluctuations may occur. Q: How did the FGTS loan API disruption impact loan originations, and what was the magnitude of this impact? A: Guilherme Lago noted that the FGTS loan API disruption caused a 10% impact on the quarter's FGTS originations. This operational issue affected the market for about 10 days, impacting the overall origination volumes. Q: Is the focus on Brazil and Mexico a shift in strategy, and what is the status of international expansion beyond Latin America? A: David Osorno, CEO, confirmed that Brazil, Mexico, and Colombia remain the primary focus due to significant growth opportunities. While international expansion is considered a long-term strategy, the current emphasis is on strengthening operations in these key markets. Q: How do you plan to stabilize risk-adjusted NIMs given the higher cost of risk observed this quarter? A: Guilherme Lago explained that the drop in risk-adjusted NIMs was largely seasonal, with three-fourths of the decline due to typical first-quarter effects. The remaining impact was from investments in Mexico and Colombia. He emphasized that Brazil's NIMs are expected to remain stable or grow as the balance sheet re-leverages. Q: What is the long-term potential for secured lending, and how aggressive can Nu Holdings be in this area? A: Guilherme Lago highlighted the significant growth potential in secured lending, particularly in public and private payroll loans. The company is optimistic about leveraging its digital model to capture market share, with FGTS and private payroll loans expected to drive substantial growth. Q: How does the debt renegotiation plan, Recomeco, impact PIX financing and overall credit origination? A: Youssef Lahrech, President and COO, clarified that the Recomeco program is not directly related to PIX financing. It aims to provide customers with a fresh start by offering selective credit access and discounts, designed to promote healthy credit behaviors without creating a moral hazard. Q: What are the expectations for net interest margins in Mexico and Colombia compared to Brazil? A: Guilherme Lago stated that while Mexico and Colombia currently have tighter NIMs, the profitability in these markets is expected to converge towards Brazil's levels as the company optimizes funding and loan-to-deposit ratios. Mexico's unit economics are particularly promising. Q: Why did Nu Holdings increase coverage for Stage 2 loans, and what does this indicate about risk management? A: Youssef Lahrech explained that the increase in Stage 2 coverage was due to a recalibration of provision model triggers, reflecting a proactive approach to risk management. This adjustment is seen as a one-time effect, pulling forward loans that would have been classified as Stage 2 later. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus.
Associated Press
24-03-2025
- Business
- Associated Press
Stonegate Capital Partners Initiates Coverage on Surf Air Mobility Inc. (SRFM)
Dallas, Texas--(Newsfile Corp. - March 24, 2025) - Surf Air Mobility Inc. (NYSE: SRFM): Stonegate Capital Partners initiates their coverage on Surf Air Mobility Inc. (NYSE: SRFM). SRFM reported revenue, adj EBITDA, and adj EPS of $28.0M, ($6.9)M, and $1.27, respectively. For the full year the Company reported revenue, adj EBITDA, and adj EPS of $28.0M, ($6.9)M, and $1.27, respectively. It is notable that the Company exceeded both revenue and EBITDA guidance in the quarter, in part thanks to strong growth in On Demand service revenue, which was up 39% over 4Q23 and 28% for FY24 compared to FY23. With the Company moving out of the Transformation Phase into the Optimization Phase we expect SRFM to improve profitability through strategic cost take outs and optimizations, with very noticeable growth showing towards the back half of FY25. To view the full announcement, including downloadable images, bios, and more, click here. Key Takeaways: On Demand service revenue, was up 39% over 4Q23 and 28% for FY24 compared to FY23. The Company signed MOUs from seven customers to upgrade ~100aircraft. In4Q24 SRFM secured a $50.0M term loan on top of the maturity extension for the Company's secured debt. Click image above to view full announcement. About Stonegate Stonegate Capital Partners is a leading capital markets advisory firm providing investor relations, equity research, and institutional investor outreach services for public companies. Our affiliate, Stonegate Capital Markets (member FINRA) provides a full spectrum of investment banking services for public and private companies. Contacts:
