Surf Air Mobility Inc. (NYSE:SRFM) posted its first-quarter results after Monday’s closing bell, beating estimates on the top and bottom lines. Here’s a look at the details inside the report.
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Surf Air Mobility Q1 Details
Surf Air Mobility reported quarterly losses of 26 cents per share, which beat the consensus estimate for losses of 50 cents, according to Benzinga Pro data.
Quarterly revenue clocked in at $25.61 million, which beat the Street estimate of $25.24 million.
The company highlighted the following first-quarter metrics:
- Total revenue of $25.6 million was at the high end of the company’s guidance range of $24 million to $26 million, a 9% year-over-year increase.
- Scheduled service revenue of $15.5 million, a 13% year-over-year decrease reflecting the exiting of unprofitable routes.
- Surf On Demand private charter revenue of $10.1 million, a 77% year-over-year increase reflecting the success of the Powered by Surf On Demand program and efficiency gains from BrokerOS.
“We are pleased with our first quarter Adjusted EBITDA results, which exceeded our expectations,” said Deanna White, CEO of Surf Air Mobility.
“The progress we’ve made across our business has positioned us to improve our annual 2026 Adjusted EBITDA guidance by 40% while maintaining our full year revenue guidance,” White added.
Outlook
Surf Air Mobility affirmed its fiscal 2026 revenue outlook of $128 million to $138 million, versus the $130.93 million analyst estimate.
SRFM Stock Price: According to data from Benzinga Pro, Surf Air Mobility stock was up 7.41% to $1.45 in Monday’s extended trading.
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