Surf Air Mobility (NYSE:SRFM) Releases Quarterly Earnings Results

Surf Air Mobility (NYSE:SRFM) posted its quarterly earnings data on Monday. The company reported ($0.26) earnings per share for the quarter, FiscalAI reports. The firm had revenue of $25.61 million during the quarter.

Here are the key takeaways from Surf Air Mobility’s conference call:

• The company beat Q1 guidance with $25.6M revenue and an adjusted EBITDA loss of $12.3M, and it raised full?year adjusted EBITDA guidance ~40% to a loss of $25M–$30M while keeping revenue guidance at $128M–$138M.
• Management says SurfOS is already reducing costs (guidance cites ~6% airline and ~15% charter savings), accelerating AI?assisted development, and is being commercialized via BrokerOS, OperatorOS and enterprise offerings with Palantir support.
• Surf On?Demand delivered a breakout quarter — $10.1M revenue, +77% YoY, 340 bps margin improvement — and Powered?by program is scaling (29 brokers now, target 100 by year?end) with new supply deals to expand capacity.
• Strategic electrification partnership with Beta includes a firm order for 25 all?electric aircraft (options for 75), Beta launch?operator designation and exclusive Hawaii MRO rights, and it lets Surf Air avoid up to $100M of prior Caravan electrification capex.
• Despite progress, net loss widened to $20.3M in Q1, the company faces near?term headwinds from higher fuel and April weather (guidance flags Q2 impact), and sustained profitability depends on SurfOS adoption and benign macro conditions.

Surf Air Mobility Stock Performance

Shares of SRFM stock traded up $0.03 during trading on Monday, hitting $1.38. The company had a trading volume of 5,538,229 shares, compared to its average volume of 3,771,946. The firm has a market capitalization of $136.81 million, a P/E ratio of -0.40 and a beta of 2.72. The stock’s 50-day moving average price is $1.40 and its 200 day moving average price is $2.15. Surf Air Mobility has a one year low of $1.01 and a one year high of $9.91.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on SRFM shares. Northland Securities initiated coverage on Surf Air Mobility in a report on Thursday. They set an “outperform” rating and a $5.00 target price on the stock. Canaccord Genuity Group reduced their price target on Surf Air Mobility from $3.50 to $2.25 and set a “hold” rating for the company in a research report on Monday, March 16th. Weiss Ratings lowered Surf Air Mobility from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Wednesday. Finally, Alliance Global Partners began coverage on Surf Air Mobility in a research note on Friday, May 1st. They issued a “buy” rating and a $2.75 price objective on the stock. Three equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $3.50.

Insider Activity at Surf Air Mobility

In other news, CFO Oliver Reeves sold 76,569 shares of the business’s stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $1.31, for a total value of $100,305.39. Following the completion of the transaction, the chief financial officer directly owned 470,816 shares in the company, valued at approximately $616,768.96. The trade was a 13.99% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Deanna Leigh White sold 56,884 shares of the business’s stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $1.31, for a total transaction of $74,518.04. Following the transaction, the chief executive officer owned 899,130 shares of the company’s stock, valued at approximately $1,177,860.30. This represents a 5.95% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 190,047 shares of company stock valued at $248,962 over the last 90 days. Corporate insiders own 8.00% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in SRFM. Bank of New York Mellon Corp acquired a new position in Surf Air Mobility during the first quarter valued at approximately $26,000. JPMorgan Chase & Co. raised its position in Surf Air Mobility by 18,757.1% during the third quarter. JPMorgan Chase & Co. now owns 6,600 shares of the company’s stock valued at $28,000 after purchasing an additional 6,565 shares in the last quarter. Bank of America Corp DE raised its position in Surf Air Mobility by 7,157.9% during the third quarter. Bank of America Corp DE now owns 10,161 shares of the company’s stock valued at $44,000 after purchasing an additional 10,021 shares in the last quarter. Price T Rowe Associates Inc. MD acquired a new position in Surf Air Mobility during the fourth quarter valued at approximately $45,000. Finally, J.W. Cole Advisors Inc. acquired a new position in Surf Air Mobility during the third quarter valued at approximately $47,000. 17.68% of the stock is currently owned by institutional investors and hedge funds.

Surf Air Mobility Company Profile

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