SRFM

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Surf Air Mobility Inc.

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Key Metrics

Previous Close: $0.69
52-Week Range: $0.63 – $6.17
Market Cap: $87.48M
P/E (TTM): —
EPS (TTM): -1.24
Dividend Yield: —

Advanced Metrics

Price/Book: —
PEG Ratio: —
Return on Equity: —
Return on Assets: -34.54%
Gross Margin: 1.57%
Operating Margin: -63.70%
Profit Margin: -101.58%
Current Ratio: 0.26
Debt/Equity: —
Total Debt: $86.22M
Free Cash Flow: $-47.27M
Revenue Growth: 7.60%
Earnings Growth: —
Enterprise Value: $155.27M

SRFM Income statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Revenue	$20.27M	$60.51M	$119.42M	$106.56M
Cost of Revenue	$25.85M	$65.68M	$118.28M	$111.67M
Gross Profit	-$5.58M	-$5.17M	$1.15M	-$5.11M
Research & Development	$3.29M	$20.85M	$24.04M	$10.30M
Selling, General & Admin	$42.04M	$110.70M	$37.37M	$61.46M
Operating Expenses	$45.33M	$131.55M	$61.41M	$71.76M
Operating Income	-$50.90M	-$136.72M	-$60.26M	-$76.87M
EBITDA	-$72.74M	-$247.27M	-$58.24M	-$88.44M
Pretax Income	-$74.36M	-$254.00M	-$75.19M	-$110.94M
Income Tax	$0.00	-$3.30M	-$287.00K	-$380.00K
Net Income	-$74.36M	-$250.70M	-$74.91M	-$110.56M
Diluted EPS	-10.60	-44.45	-5.80	-3.15
Diluted Shares	7.02M	5.64M	12.91M	35.10M

SRFM Balance Sheet statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Cash & Equivalents	$6.00K	$1.72M	$21.11M	$12.67M
Receivables	$161.00K	$4.96M	$4.26M	$3.93M
Current Assets	$7.92M	$17.74M	$33.88M	$30.92M
Total Assets	$13.70M	$110.99M	$124.06M	$131.68M
Current Liabilities	$57.40M	$140.11M	$89.61M	$133.61M
Long-Term Debt	$13.15M	$20.62M	$67.23M	$39.57M
Total Debt	$30.25M	$47.45M	$92.49M	$100.12M
Total Liabilities	$235.79M	$188.47M	$244.06M	$186.54M
Retained Earnings	-$351.84M	-$602.53M	-$677.44M	-$788.00M
Shareholders' Equity	-$222.09M	-$77.48M	-$120.00M	-$54.86M
Working Capital	-$49.48M	-$122.38M	-$55.73M	-$102.69M
Net Debt	$29.09M	$34.77M	$54.51M	$74.15M

SRFM Cash Flow statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Operating Cash Flow	-$28.04M	-$64.37M	-$54.32M	-$64.16M
Capital Expenditure	-$298.00K	-$7.78M	-$14.10M	-$8.39M
Free Cash Flow	-$28.34M	-$72.15M	-$68.43M	-$72.55M
Depreciation & Amortisation	$1.03M	$3.76M	$8.34M	$9.29M
Stock-Based Compensation	$12.45M	$48.25M	-$5.98M	$10.06M
Investing Cash Flow	-$298.00K	-$7.10M	-$3.61M	-$5.71M
Financing Cash Flow	$27.67M	$72.99M	$77.17M	$70.96M
Share Repurchases	$0.00	-$1.27M	$0.00	-$380.00K
Net Change in Cash	-$662.00K	$1.52M	$19.24M	$1.09M

SRFM Income statement, quarterly periods, in USD
USD	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Revenue	$23.51M	$27.43M	$29.17M	$26.45M	$25.61M
Cost of Revenue	$26.85M	$26.50M	$30.09M	$27.96M	$28.50M
Gross Profit	-$3.35M	$932.00K	-$913.00K	-$1.51M	-$2.88M
Research & Development	$2.68M	$2.73M	$2.33M	$2.29M	$2.44M
Selling, General & Admin	$12.54M	$14.13M	$13.26M	$22.07M	$8.03M
Operating Expenses	$15.22M	$16.86M	$15.59M	$24.36M	$10.47M
Operating Income	-$18.57M	-$15.93M	-$16.50M	-$25.88M	-$13.36M
EBITDA	-$12.48M	-$21.86M	-$21.60M	-$32.51M	-$16.52M
Pretax Income	-$18.52M	-$28.06M	-$27.27M	-$37.08M	-$20.30M
Income Tax	-$53.00K	-$64.00K	-$62.00K	-$201.00K	-$39.00K
Net Income	-$18.47M	-$28.00M	-$27.21M	-$36.88M	-$20.26M
Diluted EPS	-1.09	-1.34	-0.64	—	-0.26
Diluted Shares	16.91M	20.90M	42.43M	—	76.87M

SRFM Balance Sheet statement, quarterly periods, in USD
USD	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Cash & Equivalents	$6.63M	$22.57M	$7.06M	$12.67M	$4.16M
Receivables	$4.73M	$5.31M	$5.04M	$3.93M	$3.71M
Current Assets	$19.98M	$38.72M	$22.01M	$30.92M	$21.06M
Total Assets	$105.27M	$128.98M	$106.79M	$131.68M	$120.83M
Current Liabilities	$92.07M	$97.08M	$88.13M	$133.61M	$132.93M
Long-Term Debt	$66.62M	$66.57M	$67.78M	$39.57M	$27.79M
Total Debt	$91.13M	$90.66M	$89.28M	$100.12M	$90.02M
Total Liabilities	$240.91M	$244.47M	$199.34M	$186.54M	$177.42M
Retained Earnings	-$695.91M	-$723.91M	-$751.12M	-$788.00M	-$808.26M
Shareholders' Equity	-$135.64M	-$115.48M	-$92.56M	-$54.86M	-$56.59M
Working Capital	-$72.09M	-$58.36M	-$66.11M	-$102.69M	-$111.87M
Net Debt	$68.64M	$52.68M	$67.90M	$74.15M	$73.54M

SRFM Cash Flow statement, quarterly periods, in USD
USD	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Operating Cash Flow	-$15.80M	-$10.64M	-$19.34M	-$18.37M	-$12.25M
Capital Expenditure	-$1.90M	-$1.81M	-$2.28M	-$2.41M	-$3.54M
Free Cash Flow	-$17.70M	-$12.45M	-$21.62M	-$20.78M	-$15.79M
Depreciation & Amortisation	$2.15M	$2.44M	$2.42M	$2.28M	$2.55M
Stock-Based Compensation	$1.88M	$3.81M	$2.27M	$2.10M	$1.39M
Investing Cash Flow	$782.00K	-$1.81M	-$2.28M	-$2.41M	-$3.54M
Financing Cash Flow	$542.00K	$32.80M	$1.19M	$36.43M	$7.35M
Net Change in Cash	-$14.48M	$20.35M	-$20.43M	$15.65M	-$8.44M

Market Snapshot

About

Surf Air Mobility Inc. is developing a regional air mobility platform focused on sustainable aviation. The company operates a membership-based commuter airline service and is working to electrify regional aviation through its powertrain technology. It aims to provide efficient point-to-point flights connecting underserved regional routes.