Loading...
•
Sep 30, 2024
Blade Q3 2024 Earnings Report
Blade Air Mobility announced Q3 2024 results, marked by revenue growth and strategic advancements.
Key Takeaways
Blade Air Mobility reported a 4.8% increase in revenue to $74.9 million, driven by growth in the Medical and Short Distance segments. The company achieved positive Passenger Segment Adjusted EBITDA on a trailing twelve-month basis, ahead of schedule. They also announced a strategic alliance with OrganOx to enhance organ transplant logistics.
Operating Cash Flow increased by $4.3 million to $6.4 million.
Free Cash Flow, Before Aircraft Acquisitions, increased by $2.4 million to $3.7 million.
Medical Segment Adjusted EBITDA improved 15.1% compared to the prior year.
Adjusted EBITDA improved by $3.4 million versus the prior year to $4.2 million.
Blade
Blade
Blade Revenue by Segment
Revenue by Segment
Medical Revenue
CapyFin.com Forward Guidance
For the full year 2024, Blade expects revenue of $240 million to $250 million and positive Adjusted EBITDA. For the full year 2025, the company anticipates double-digit Medical revenue growth, Passenger revenue of $85 million to $95 million, and double-digit millions of Adjusted EBITDA.
Positive Outlook
- Revenue of $240 million to $250 million is expected for 2024.
- Positive Adjusted EBITDA is expected for 2024.
- Double-digit Medical revenue growth is expected for 2025.
- Passenger revenue of $85 million to $95 million is expected for 2025.
- Double-digit millions of Adjusted EBITDA is expected for 2025.