Latest news with #SurfAirMobilityInc
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
Business Wire
14-05-2025
- Business
- Business Wire
Surf Air Mobility to Present at the Third Annual Jefferies eVTOL / AAM Summit
LOS ANGELES--(BUSINESS WIRE)--Surf Air Mobility Inc. (NYSE: SRFM) ('Surf Air Mobility'), a leading regional air mobility platform, today announced that CEO and COO Deanna White and co-founder Sudhin Shahani will present at the Jefferies eVTOL / AAM Summit on Wednesday, May 28, 2025, at 1:20 PM ET. Surf Air Mobility is a Los Angeles-based regional air mobility platform and one of the largest commuter airlines in the U.S. by scheduled departures. It is also the largest U.S. passenger operator of Cessna Caravans. In addition to its airline operations and On Demand charter services, Surf Air Mobility is developing an AI-powered software platform for the Regional Air Mobility industry. The company is also working to commercialize electrified aircraft and developing proprietary powertrain technology for the Cessna Caravan. Surf Air Mobility plans to offer its software and electrification solutions to the Regional Air Mobility industry to improve safety, efficiency, and profitability.
Yahoo
14-05-2025
- Business
- Yahoo
Surf Air Mobility Inc (SRFM) Q1 2025 Earnings Call Highlights: Revenue Growth and Strategic ...
Release Date: May 13, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Surf Air Mobility Inc (NYSE:SRFM) reported first-quarter revenue of $23.5 million, at the high end of their expected range, keeping them on track to meet their full-year expectation of over $100 million in revenue. The company successfully raised an incremental $5 million in funding, enhancing their liquidity and balance sheet management. Surf Air Mobility Inc (NYSE:SRFM) has entered into an interline agreement with Japan Airlines, expanding their potential access to over 435 million customers and enhancing connectivity in the Hawaii region. The company is making substantial progress on their electrification initiative, with late-stage discussions with key partners to advance their work. Surf Air Mobility Inc (NYSE:SRFM) has improved their flight completion factor to above 92% in the first six weeks of the second quarter, indicating operational improvements and increased customer satisfaction. The company experienced a brief service interruption in the first quarter due to maintenance issues, impacting their operational levels temporarily. Scheduled service revenue decreased by 23% year over year, primarily due to the elimination of unprofitable routes and a brief interruption of service. On-demand service revenue decreased by 25% year over year, driven by a mix of lower sales and flight completions. The company is navigating a challenging economic, regulatory, and funding environment, which requires aggressive management of operations and cost structures. Surf Air Mobility Inc (NYSE:SRFM) is still capital constrained, which has impacted their ability to fully execute their transformation plan. Warning! GuruFocus has detected 4 Warning Signs with SRFM. Q: What are your thoughts on the changes to the Essential Air Service (EAS) budget and how might it affect Surf Air Mobility? A: Deanna White, CEO, explained that while there is a proposed $308 million reduction in EAS subsidies, Surf Air Mobility's position as a low-cost operator provides a competitive advantage. They are monitoring the situation closely and exploring strategies to maintain service on subsidized routes even if subsidies are reduced. Q: Can you discuss which scheduled and charter flights are considered core versus those being reduced? A: Deanna White, CEO, stated that Hawaii and EAS routes are core areas due to their unique commuter needs and lack of direct competition. They focus on profitability and how routes fit within their existing footprint when deciding on route adjustments. Q: How proactive will you be in adding new profitable routes, and what is the goal for this segment? A: Deanna White, CEO, mentioned that while they have targeted routes to exit, some EAS routes are being maintained longer due to DOT requests. They plan to start new tier-one routes next year, focusing on maximizing profitability. Q: What is the status of the SurfOS product, and when can we expect a commercial rollout? A: The company is integrating feedback from beta users and plans a full commercial rollout of SurfOS in 2026. They are currently using SurfOS modules internally to enhance operations before broader market release. Q: Can you provide details on the recent service interruption and its impact? A: Deanna White, CEO, clarified that the service interruption in January was unplanned, related to maintenance issues, and was resolved with FAA cooperation. Despite this, they remained within their guidance range. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus.
Yahoo
02-05-2025
- Business
- Yahoo
Surf Air Mobility to Announce First Quarter 2025 Financial Results on May 13, 2025
LOS ANGELES, May 02, 2025--(BUSINESS WIRE)--Surf Air Mobility Inc. (NYSE: SRFM) ("Surf Air Mobility"), a leading regional air mobility platform, today announced that it will release its first quarter 2025 financial results after market close on Tuesday, May 13, 2025, and will host a webcast at 5:00 pm ET the same day. Interested parties can register in advance to listen to the webcast here or can find a link on the 'Events & Presentations' section of our investor relations website. Alternatively, listeners may dial into the call as follows:North America - Toll-Free (800) 715-9871International (Toll) - (646) 307-1963Conference ID: 4775356 About Surf Air Mobility Surf Air Mobility is a Los Angeles-based regional air mobility platform and one of the largest commuter airlines in the U.S. by scheduled departures. It is also the largest U.S. passenger operator of Cessna Caravans. In addition to its airline operations, Surf Air Mobility is developing an AI-powered software platform for the Regional Air Mobility industry. The company is also working to commercialize electrified aircraft and creating proprietary powertrain technology for the Cessna Caravan. Surf Air Mobility plans to offer its software and electrification solutions to the Regional Air Mobility industry, with the aim to improve safety, efficiency, and profitability. View source version on Contacts Surf Air Mobility Media Contacts Press: press@ Investors: investors@
