Surf Air Mobility Inc
NYSE:SRFM
Surf Air Mobility Inc
Surf Air Mobility Inc is a US-based company operating in Passenger Airlines industry. The company is headquartered in Hawthorne, California and currently employs 75 full-time employees. The company went IPO on 2023-07-27. Surf Air Mobility Inc. is an electric aviation and air travel company. The firm is engaged in expanding the category of regional air travel by connecting underutilized regional airports and private terminals to create a shared private customer experience and a commercial-like air service using small turboprop aircraft. The firm provides a regional air mobility platform with scheduled routes and on-demand charter flights operated by third parties. The company intends to develop powertrain technology with its commercial partners to electrify existing fleets, bringing electrified aircraft to market at scale. The firm is primarily focused on the installation of hybrid-electric and fully electric powertrains in the Cessna Grand Caravan EX (EP1). The firm has a scheduled network, which connects across approximately 44 cities in 18 U.S. states and territories.
Surf Air Mobility Inc is a US-based company operating in Passenger Airlines industry. The company is headquartered in Hawthorne, California and currently employs 75 full-time employees. The company went IPO on 2023-07-27. Surf Air Mobility Inc. is an electric aviation and air travel company. The firm is engaged in expanding the category of regional air travel by connecting underutilized regional airports and private terminals to create a shared private customer experience and a commercial-like air service using small turboprop aircraft. The firm provides a regional air mobility platform with scheduled routes and on-demand charter flights operated by third parties. The company intends to develop powertrain technology with its commercial partners to electrify existing fleets, bringing electrified aircraft to market at scale. The firm is primarily focused on the installation of hybrid-electric and fully electric powertrains in the Cessna Grand Caravan EX (EP1). The firm has a scheduled network, which connects across approximately 44 cities in 18 U.S. states and territories.
Revenue Beat: Q3 revenue reached $29.2 million, exceeding guidance of $27–$28.5 million and rising 6% sequentially.
Profitability Progress: The airline operations segment delivered its second consecutive quarter of profitability (positive adjusted EBITDA).
Guidance Raised: Full-year 2025 revenue guidance raised to at least $105 million amid ongoing operational and financial improvements.
Strategic Financing: Announced $100 million in new strategic financing to fund SurfOS development and reduce debt, with $26 million for software and $74 million in zero-coupon convertible notes.
Operational Transformation: Continued exit from unprofitable routes and focus on cost optimization, with all route exits expected complete by year-end.
SurfOS Commercialization: SurfOS software is moving from beta to commercialization, with revenue generation targeted for the first half of 2026.
AI and Partnerships: Expanded exclusive partnership with Palantir for AI-driven software; pursuing collaborations with emerging aircraft technologies.
Balance Sheet Deleveraging: Significant reduction in debt and interest expense, with a clear path to becoming debt free.
