Surf Air Mobility Q3 revenue climbs sequentially, raises 2025 revenue forecast

Surf Air Mobility

12/11/2025 21:27

Overview

Surf Air Mobility Q3 revenue of $29.2 mln exceeds company's guidance range

Adjusted EBITDA loss of $9.9 mln

Company closed $100 mln strategic transaction to fund SurfOS and strengthen balance sheet

Outlook

Company raises full-year revenue guidance to at least $105 mln

Company expects Q4 revenue between $25.5 mln and $27.5 mln

Company anticipates Q4 adjusted EBITDA loss of $8 mln to $6.5 mln

Result Drivers

LARGER AIRCRAFT MIX - Shift to larger aircraft and international flights increased revenue per departure in On Demand business

EXITING UNPROFITABLE ROUTES - Company improved operational metrics in Scheduled Service by exiting unprofitable routes

AIRLINE PROFITABILITY - Achieved second consecutive quarter of profitability in airline operations due to improved operational metrics

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q3 Revenue
Beat
$29.17 mln
$27.90 mln (3 Analysts)
Q3 EPS
-$0.64
Q3 Net Income
-$27.21 mln
-$17.90 mln (2 Analysts)
Q3 Operating Income
-$16.50 mln
-$13.60 mln (2 Analysts)
Q3 Pretax Profit
-$27.28 mln
-$17.90 mln (2 Analysts)
Q3 Operating Expenses
$45.67 mln


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 1 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"

The average consensus recommendation for the airlines peer group is "buy"

Wall Street's median 12-month price target for Surf Air Mobility Inc is $7.88, about 61.4% above its November 11 closing price of $3.04

Press Release: ID:nBw4NndZHa

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)