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Stonegate Capital Partners Updates Coverage On Surf Air Mobility Inc. (SRFM) 2025 Q2

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Surf Air Mobility (NYSE:SRFM) reported Q2 2025 results exceeding guidance, with revenue of $27.4M and Adjusted EBITDA loss of $9.5M. The company achieved a significant milestone with its airline operations turning profitable on an Adjusted EBITDA basis, supported by a 95% completion factor.

Key developments include raising $44.7M in equity capital, converting $29.9M of notes to equity, and securing a five-year exclusive software partnership with Palantir. The quarter also saw two EAS contract renewals and a new interline agreement with Japan Airlines, alongside six new LOI agreements.

Surf Air Mobility (NYSE:SRFM) ha riportato i risultati del secondo trimestre 2025, superiori alle attese, con ricavi di $27.4M e una perdita di EBITDA rettificato di $9.5M. La societ脿 ha raggiunto un importante traguardo: le attivit脿 aeree sono diventate redditizie su base di EBITDA rettificato, sostenute da un tasso di completamento del 95%.

Tra gli sviluppi chiave figurano la raccolta di $44.7M di capitale azionario, la conversione di $29.9M di note in azioni e la stipula di una partnership software esclusiva quinquennale con Palantir. Nel trimestre si sono inoltre registrati due rinnovi di contratti EAS, un nuovo accordo interlinea con Japan Airlines e sei nuove LOI.

Surf Air Mobility (NYSE:SRFM) report贸 los resultados del 2T 2025 por encima de las previsiones, con ingresos de $27.4M y una p茅rdida de EBITDA ajustado de $9.5M. La compa帽铆a alcanz贸 un hito significativo: sus operaciones a茅reas pasaron a ser rentables en base a EBITDA ajustado, respaldadas por un factor de cumplimiento del 95%.

Entre los acontecimientos clave se incluyen la captaci贸n de $44.7M en capital, la conversi贸n de $29.9M de pagar茅s en acciones y la obtenci贸n de una alianza de software exclusiva de cinco a帽os con Palantir. El trimestre tambi茅n registr贸 dos renovaciones de contratos EAS, un nuevo acuerdo interl铆nea con Japan Airlines y seis nuevas LOI.

Surf Air Mobility (NYSE:SRFM)電� 2025雲� 2攵勱赴 鞁れ爜鞚� 臧鞚措崢鞀るゼ 靸來殞頄堧嫟瓿� 氚滍憸頄堨溂氅�, 毵れ稖鞚 $27.4M, 臁办爼 EBITDA 靻愳嫟鞚 $9.5M鞓鞀惦媹雼�. 頃车 鞖错暛 攵氍胳潃 臁办爼 EBITDA 旮办鞙茧 頋戩瀽 鞝勴櫂鞚措澕電� 欷戩殧頃� 鞚挫爼響滊ゼ 雼劚頄堨溂氅�, 鞚措姅 鞕勲鞙� 95%鞐� 頌橃瀰鞐堨姷雼堧嫟.

欤检殧 靹标臣搿滊姅 $44.7M鞚� 鞛愲掣 臁半嫭, $29.9M 攴滊鞚� 毂勱秾鞚� 欤检嫕鞙茧 鞝勴櫂, 韺旊瀫韹办柎鞕鞚� 5雲勱皠 霃呾爯 靻岉攧韸胳洦鞏� 韺岉姼雱堨嫮 頇曤炒 霌膘澊 韽暔霅╇媹雼�. 攵勱赴 霃欖晥 霊� 瓯挫潣 EAS 瓿勳暯 臧膘嫚瓿� Japan Airlines鞕鞚� 鞁犼窚 鞚疙劙霛检澑 瓿勳暯, 鞐劘 瓯挫潣 鞁犼窚 LOI 觳搓舶霃� 鞛堨棃鞀惦媹雼�.

Surf Air Mobility (NYSE:SRFM) a publi茅 des r茅sultats du T2 2025 sup茅rieurs aux pr茅visions, avec un chiffre d'affaires de $27.4M et une perte d'EBITDA ajust茅 de $9.5M. La soci茅t茅 a franchi une 茅tape importante : ses activit茅s a茅riennes sont devenues rentables sur une base d'EBITDA ajust茅, soutenues par un taux de r茅alisation de 95%.

Parmi les faits marquants figurent la lev茅e de $44.7M de capitaux propres, la conversion de $29.9M de titres en actions et la conclusion d'un partenariat logiciel exclusif de cinq ans avec Palantir. Le trimestre a 茅galement enregistr茅 deux renouvellements de contrats EAS, un nouvel accord interligne avec Japan Airlines et six nouvelles LOI.

Surf Air Mobility (NYSE:SRFM) meldete f眉r das zweite Quartal 2025 Ergebnisse 眉ber den Prognosen, mit einem Umsatz von $27.4M und einem bereinigten EBITDA-Verlust von $9.5M. Das Unternehmen erreichte einen wichtigen Meilenstein: der Airline-Betrieb wurde auf bereinigter EBITDA-Basis profitabel, gest眉tzt durch eine 95% Durchf眉hrungsquote.

Zu den wesentlichen Entwicklungen z盲hlen die Aufnahme von $44.7M Eigenkapital, die Umwandlung von $29.9M an Schuldverschreibungen in Eigenkapital sowie der Abschluss einer f眉nfj盲hrigen exklusiven Softwarepartnerschaft mit Palantir. Im Quartal gab es au脽erdem zwei Verl盲ngerungen von EAS-Vertr盲gen, ein neues Interline-Abkommen mit Japan Airlines sowie sechs neue LOIs.

Positive
  • Revenue of $27.4M exceeded guidance expectations
  • Airline operations achieved profitability on Adjusted EBITDA basis
  • Improved operational reliability with 95% completion factor
  • Successful capital raise of $44.7M and debt reduction through $29.9M note conversion
  • Secured five-year exclusive partnership with Palantir
  • Expanded network through Japan Airlines interline agreement and EAS contract renewals
Negative
  • Overall Adjusted EBITDA remains negative at ($9.5M)
  • Significant Adjusted EPS loss of ($1.34) per share

Dallas, Texas--(Newsfile Corp. - August 13, 2025) - Surf Air Mobility Inc. (NYSE: SRFM): Stonegate Capital Partners updates their coverage on Surf Air Mobility Inc. (NYSE: SRFM). SRFM reported revenue, Adj. EBITDA, and Adj. EPS of $27.4M, ($9.5)M, and ($1.34), respectively, exceeding both revenue and EBITDA guidance for the quarter. This performance reflects a clear inflection point for the Company, driven by improved airline operations, continued optimization of the On Demand segment, and growing momentum in its SurfOS software platform. Notably, airline operations were profitable in the quarter on an Adj. EBITDA basis, supported by sequential improvement in controllable completion factors to 95% and better margins in On Demand services. The quarter was further marked by strategic capital actions, including $44.7M in equity capital raised and subsequent deleveraging through the equitization of $29.9M of convertible notes in July. We also highlight the Company's expanded partnership with Palantir, securing a five-year exclusive agreement for the configuration and sale of software.

To view the full announcement, including downloadable images, bios, and more, .

Key Takeaways:

  • Revenue of $27.4M and Adj. EBITDA loss of $9.5M exceeded guidance, with airline operations achieving quarterly profitability.
  • Record-high reliability metrics, two EAS contract renewals, and a new interline agreement with Japan Airlines strengthen network and revenue base.
  • Six new LOI agreements, flagship product suite launch, and a five-year exclusive software partnership with Palantir expand growth potential.

Click image above to view full announcement.


About Stonegate
Stonegate Capital Partners is a leading capital markets advisory firm providing investor relations, equity research, and institutional investor outreach services for public companies. Our affiliate, Stonegate Capital Markets (member FINRA) provides a full spectrum of investment banking services for public and private companies.

Contacts:

Stonegate Capital Partners
(214) 987-4121
[email protected]

Source:

To view the source version of this press release, please visit

FAQ

What were Surf Air Mobility's (SRFM) Q2 2025 financial results?

SRFM reported revenue of $27.4M, Adjusted EBITDA loss of ($9.5M), and Adjusted EPS of ($1.34), exceeding both revenue and EBITDA guidance.

How much capital did SRFM raise in Q2 2025?

SRFM raised $44.7M in equity capital and converted $29.9M of convertible notes to equity in July 2025.

What operational improvements did Surf Air Mobility achieve in Q2 2025?

SRFM achieved 95% controllable completion factor and reached profitability in airline operations on an Adjusted EBITDA basis.

What strategic partnerships did SRFM secure in Q2 2025?

SRFM secured a five-year exclusive software partnership with Palantir and established a new interline agreement with Japan Airlines.

How did SRFM's airline operations perform in Q2 2025?

Airline operations achieved profitability on an Adjusted EBITDA basis, supported by improved completion factors and better margins in On Demand services.
Surf Air Mobility Inc.

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141.75M
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Airlines
Air Transportation, Nonscheduled
United States
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