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Sep 30, 2025
Surf Air Mobility Inc Q3 2025 Earnings Report
Surf Air Mobility exceeded revenue guidance and met adjusted EBITDA expectations in Q3 2025.
Key Takeaways
The company reported strong Q3 2025 results, surpassing revenue guidance at $29.2M and narrowing its net loss compared to prior periods. Airline operations posted a second consecutive quarter of profitability on an adjusted EBITDA basis.
Revenue reached $29.2 million, exceeding guidance of $27–$28.5 million.
Net loss for the quarter was $27.2 million.
Adjusted EBITDA loss was $9.9 million, meeting expectations.
Airline operations achieved profitability on an adjusted EBITDA basis for the second straight quarter.
Forward Guidance
Surf Air Mobility expects Q4 revenue between $25.5M and $27.5M and adjusted EBITDA loss between $8M and $6.5M. Full-year revenue guidance was raised to at least $105M, and the company continues to expect full-year profitability in airline operations.
Positive Outlook
- Q4 revenue guidance set at $25.5M–$27.5M.
- Adjusted EBITDA loss forecasted between $8M and $6.5M for Q4.
- Full-year revenue guidance raised to at least $105M.
- Continued expectation of profitability in airline operations for full year.
- Strategic $100M funding deal closed to accelerate SurfOS rollout and reduce debt.
Challenges Ahead
- Adjusted EBITDA still reflects ongoing losses, albeit reduced.
- Scheduled Service revenue continues to decline.
- Net losses remain significant at $27.2M for the quarter.
- No GAAP EPS improvement reported for the quarter.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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