Surf Air Mobility Inc (NYSE:SRFM)

Q4 2025 Surf Air Mobility Inc Earnings Call Transcript

Mar 12, 2026 / 09:00 PM GMT

Release Date Price: $1.88 (-5.05%)

Transcript 10-K8-K

Key Points

Positve

Surf Air Mobility Inc (SRFM) achieved profitability in its airline operations for the full year of 2025, defined as positive adjusted EBITDA.
The company has successfully recalibrated its on-demand charter business model, improving flight margins year over year.
Surf Air Mobility Inc (SRFM) has entered into a strategic partnership with Beta Technologies to launch commercial electric aircraft passenger flights in Hawaii.
The company has raised over $100 million in equity in 2025, significantly reducing its overall cost of capital and lowering net debt.
Surf Air Mobility Inc (SRFM) has developed a digital infrastructure equipped with AI-enabled software tools powered by Palantir, providing a foundation for its business platform ambition.

Negative

Fourth quarter revenue decreased by 6% year over year, driven by a 19% decrease in scheduled service revenue.
The company reported an adjusted EBITDA loss of just under $8 million for the fourth quarter of 2025.
Surf Air Mobility Inc (SRFM) no longer intends to invest $50 to $100 million for the caravan electrification program.
Revenue growth for 2026 is expected to be heavily weighted to the back half of the year, indicating potential short-term financial pressure.
The company faces challenges in the certification timeline for electric aircraft, which is a significant hurdle for commercial deployment.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

SRFM.N - Surf Air Mobility Inc
Q4 2025 Surf Air Mobility Inc Earnings Call
Mar 12, 2026 / 09:00PM GMT

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Presentation
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Unidentified_1 [1]
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Good evening. My name is Abby and I'll be your conference operator today. At this time, I would like to welcome everyone to the Surf Air Mobility Fourth quarter and full year 2025 earnings call.

All lines have been placed on mute to prevent any background noise. After the speaker's remarks, there will be a question-and-answer session. If you would like to ask a question during that time, simply press star, followed by the number one on your telephone keypad. If you would like to withdraw your question, press one again.

Thank you, and I will now pass the call over to SAM Levinson. Please go ahead.

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Unidentified_2 [2]
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