Financial Data and Key Metrics Changes - The company announced a sale of the Blade passenger business to Joby Aviation for up to $125 million, which is expected to create long-term value for stakeholders [6][9] - Medical revenue grew 17.6% year-over-year to a record $45.1 million in Q2 2025, driven by new transplant center customers and increased demand [18][26] - Adjusted EBITDA margin for the medical segment rose to 13.4% in Q2 2025, compared to 11.4% in Q1 2025, but declined from 14.4% in Q2 2024 [18][20] Business Line Data and Key Metrics Changes - The medical business accounted for approximately 60% of revenue in 2024, up from 12% in 2020, and contributed about 85% of the segment's adjusted EBITDA [6][9] - The passenger business saw a 5.5% decrease in short-distance revenue year-over-year, primarily due to lower revenue in the US segment [20] - The passenger segment adjusted EBITDA tripled year-over-year from $800,000 to $2.4 million, driven by improved flight margins and lower SG&A expenses [22] Market Data and Key Metrics Changes - The company exited the Canadian market in August 2024, impacting short-distance revenue in the US [20] - European operations showed strong revenue growth due to realignment with local partners and operational changes [21] Company Strategy and Development Direction - The company aims to focus on its medical division as a standalone entity, which will be renamed Strata Critical Medical, emphasizing its growth potential in the medical sector [6][9] - A disciplined capital allocation strategy is planned, supported by approximately $200 million in cash from the passenger business sale [12][26] - The company is entering a long-term partnership with Joby Aviation to access eVTOL aircraft for medical use, enhancing its service offerings [15][32] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the growth prospects of the medical business, expecting mid-teens revenue growth in the second half of 2025 [26] - The company anticipates improved fleet uptime and adjusted EBITDA margins in the medical segment, projecting margins of approximately 15% [26] - Management noted that the divestiture is expected to be neutral to adjusted EBITDA and free cash flow on a go-forward basis [25][26] Other Important Information - The company ended the quarter with no debt and $113.4 million in cash and short-term investments [25] - The financial impact of the divestiture is expected to be adjusted EBITDA and free cash flow neutral, supported by estimated corporate cost efficiencies of $7 million [10][25] Q&A Session Summary Question: What are the current priorities for capital allocation post-transaction? - Management highlighted opportunities in M&A and organic growth, emphasizing the need for capital to scale the business effectively [29][30] Question: Are there any operational impacts from the divestiture on the medical segment? - Management stated that the company is set up for success as a standalone entity and expects the partnership with Joby to add significant value [32][33] Question: Why was the passenger business sold now? - Management indicated that the market was discounting the value of the passenger business, and the divestiture allows for a clearer focus on the high-growth medical segment [37][38] Question: What is the growth outlook for the medical business? - Management expressed optimism about organic growth driven by new technologies and services, aiming for high teens adjusted EBITDA margins in the long term [41][43] Question: How is the business trending quarter to date? - Management reported strong performance in July, with no signs of seasonal slowdown yet [44] Question: What are the tax implications of the transaction? - Management noted that they have enough NOLs to offset capital gains from the divestiture, expecting minimal cash tax impact [46]

Transaction Overview - Blade Passenger division 将以高达 1.25 亿美元的价格出售给 Joby Aviation[9]，这笔交易的价格可能会以现金或 Joby 股票支付[10] - Blade 的医疗部门将保留公开上市资格，并更名为 Strata Critical Medical ("Strata")，成为一家纯粹的合同医疗业务公司[9] - 预计资产剥离在调整后的 EBITDA 和自由现金流方面将保持中性，并得到约 700 万美元的年度企业成本效率的支持[9] Financial Performance (Q2 2025) - Medical 部门收入同比增长 18%[18] - Passenger 部门收入同比下降 13%[13] - Medical 部门调整后的 EBITDA 利润率为 13.4%，同比下降 1 个百分点[18] - Passenger 部门调整后的 EBITDA 同比增长 160 万美元[18] - 短途收入（不包括加拿大）同比下降 6%[18] Medical Segment Growth Drivers - 2018 年至 2024 年，心脏、肝脏和肺移植距离增加了 64%[38] - Blade 在器官移植航空物流领域的市场份额估计约为 30%[40] - 地面运输的总潜在市场为 2 亿美元[46] - 器官配置服务的总潜在市场约为 2.5 亿美元[53] Trinity Air Medical Acquisition Impact - 截至 2024 年 9 月 30 日的 12 个月内，Blade/Trinity Medical 部门的总收入约为 1.42 亿美元，分部调整后的 EBITDA 为 1630 万美元[62]

Exhibit 99.1 August 5, 2025 Blade Air Mobility Announces Second Quarter 2025 Results NEW YORK — (August 5, 2025) — Blade Air Mobility, Inc. (Nasdaq: BLDE, "Blade" or the "Company"), today announced financial results for the second quarter ended June 30, 2025. | | | | | GAAP FINANCIAL RESULTS | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | | | | (in thousands except percentages, unaudited) | | | | | | | | | | Three Months Ended June 30, | | | | Six Months Ended June 30, | | | | ...

Core Insights - Blade Air Mobility, Inc. reported a 4.2% increase in revenue to $70.8 million for Q2 2025 compared to $67.9 million in Q2 2024, driven primarily by growth in the Medical segment [9][12] - The company announced the sale of its Passenger division to Joby Aviation for up to $125 million, while the Medical division will remain a standalone public company, rebranding as Strata Critical Medical [6][8] - Net loss improved significantly by $7.6 million year-over-year to $(3.7) million in Q2 2025, with Adjusted EBITDA increasing by $2.2 million to $3.2 million [6][14] Financial Results - Total revenue for the six months ended June 30, 2025, was $125.1 million, up 4.7% from $119.5 million in the same period of 2024 [3][9] - Cost of revenue increased by 2.9% to $53.1 million in Q2 2025, while total operating expenses decreased by 5.4% to $75.8 million [3][9] - Gross profit rose to $12.9 million in Q2 2025, reflecting a gross margin improvement to 18.2% from 16.7% in Q2 2024 [3][9] Segment Performance - Medical revenue increased by 17.6% year-over-year to $45.1 million in Q2 2025, while Passenger segment revenue decreased by 13.2% to $25.7 million [9][35] - Flight profit for the Medical segment was $9.9 million, with a flight margin of 22.0%, while the Passenger segment achieved a flight profit of $7.8 million and a flight margin of 30.5% [39][40] - The company reported a decrease in Short Distance revenue by 17.8% to $17.2 million, attributed to reduced demand following a helicopter incident and inclement weather [9][14] Strategic Updates - The divestiture of the Passenger division is expected to be neutral to Adjusted EBITDA and Free Cash Flow on a go-forward basis, supported by estimated corporate cost efficiencies of approximately $7 million [9][12] - Blade's Medical division will focus on contractual healthcare solutions with no direct reimbursement risk, aiming for a strong growth profile [8][9] - The company ended Q2 2025 with $113.4 million in cash and short-term investments, positioning itself for future growth and strategic investments [14][12]

Core Insights - Joby Aviation (JOBY) has announced an acquisition of Blade Air Mobility's (BLDE) urban air mobility passenger business for up to $125 million, which will enhance Joby's market presence in the eVTOL sector [1][10] - The acquisition will provide Joby with immediate access to Blade's existing urban air routes and infrastructure, particularly in New York City, thereby strengthening its position in medical logistics [2][4] - Blade's medical division will remain separate and will be rebranded as Strata Critical Medical, partnering with Joby for organ transportation [3][10] Group 1: Acquisition Details - The deal allows Joby to leverage Blade's experience in premium customer transportation, potentially reducing infrastructure investment and customer acquisition costs [4][5] - Joby aims to commence passenger operations in Dubai next year, aligning with its air taxi commercialization efforts [4] - The acquisition is expected to provide Joby with a competitive edge by enhancing market access and scale while lowering costs for new vertiports [5] Group 2: Market Context - Archer Aviation (ACHR), a competitor in the eVTOL market, is also advancing with its Midnight aircraft for short-haul air taxi services, indicating a growing competitive landscape [6] - Archer has secured agreements for deploying its aircraft in multiple countries, showcasing the international expansion of eVTOL services [7] - Joby's stock performance has significantly outpaced its industry, with shares surging in triple digits over the past year [8][12] Group 3: Financial Metrics - Joby is currently trading at a price-to-book value of 15.81X, which is substantially higher than the industry average of 3.51X, indicating a premium valuation [12] - The Zacks Consensus Estimate for Joby's losses in 2025 and 2026 has remained stable, suggesting consistent expectations among analysts [13] - Joby currently holds a Zacks Rank of 4 (Sell), reflecting market sentiment towards the stock [14]

Group 1 - Joby Aviation is acquiring Blade Air Mobility, Inc., which is described as an "Uber for helicopters," leading to a 21% intraday spike in Joby shares [1] - The trade structure involves a net debit of $2.60, with a maximum gain that is uncapped, a maximum loss of $1,020, and a break-even point at $16.80 according to Fidelity's model [1][2] - The trade includes buying an $18 strike call expiring on January 16, 2026, selling a $17.50 strike put expiring on August 8, 2025, and buying a $15 strike put expiring on August 8, 2025 [4] Group 2 - The catalyst for this trade is the upcoming earnings report, which is expected to have additional headline potential in the following weeks [4] - The strategy aims to take advantage of elevated pre-earnings implied volatility to reduce net cost while maintaining uncapped upside potential [4] - The trade is designed to limit drawdown in case the catalyst does not meet expectations, indicating a cautious approach to risk management [4]

本文源自：智通财经网 周一，Joby Aviation(JOBY.US)股价走高，截至发稿，该股涨超17%，报20.13美元。Blade Air Mobility(BLDE.US)涨超28%，报4.86美元。消息面上，该公司有意以公司股票或现金形式最高出资1.25 亿美元收购Blade Air Mobility的客运业务。这笔交易预计将在未来几周内完成。 ...

Core Viewpoint - Joby Aviation is planning to acquire Blade Air Mobility's passenger business for up to $125 million in cash or stock, which has positively impacted the stock prices of both companies [1] Group 1: Company Performance - Joby Aviation's stock price increased by over 17%, reaching $20.13 [1] - Blade Air Mobility's stock price surged by over 28%, reaching $4.86 [1] Group 2: Acquisition Details - The acquisition is expected to be completed within the next few weeks [1] - The total potential investment for the acquisition is up to $125 million [1]

Group 1 - Joby Aviation's stock price increased over 17%, reaching $20.13 [1] - Blade Air Mobility's stock price rose over 28%, reaching $4.86 [1] - Joby Aviation intends to acquire Blade Air Mobility's passenger business for up to $125 million in stock or cash [1] Group 2 - The acquisition is expected to be completed in the coming weeks [1]

Core Insights - Urban Air Mobility stocks present attractive investment opportunities but come with higher risks in the current market environment [2] - Joby Aviation (NYSE: JOBY) is highlighted as a more appealing option among eVTOL developers due to its progress in the sector [2] Company and Industry Analysis - The Aerospace Forum aims to identify investment opportunities within the aerospace, defense, and airline industries, leveraging data analytics for informed decision-making [2] - The analyst's background in aerospace engineering provides a comprehensive understanding of the industry's growth prospects and the implications of ongoing developments [2]