Core Insights - Blade Air Mobility, Inc. (BLDE) reported a quarterly loss of $0.04 per share, outperforming the Zacks Consensus Estimate of a loss of $0.11, and showing improvement from a loss of $0.06 per share a year ago [1] - The company achieved revenues of $54.31 million for the quarter ended March 2025, exceeding the Zacks Consensus Estimate by 9.55% and up from $51.51 million year-over-year [2] - Blade Air Mobility's shares have declined approximately 31.3% year-to-date, contrasting with the S&P 500's decline of 3.8% [3] Financial Performance - Over the last four quarters, Blade Air Mobility has surpassed consensus EPS estimates two times and topped consensus revenue estimates four times [2] - The current consensus EPS estimate for the upcoming quarter is -$0.04 on revenues of $65.57 million, and for the current fiscal year, it is -$0.17 on revenues of $256.96 million [7] Market Outlook - The earnings outlook for Blade Air Mobility is mixed, with a current Zacks Rank of 3 (Hold), indicating expected performance in line with the market [6] - The Technology Services industry, to which Blade Air Mobility belongs, is currently ranked in the top 27% of over 250 Zacks industries, suggesting a favorable industry outlook [8]

Financial Data and Key Metrics Changes - The company reported an 11% revenue growth excluding Canada, with a year-over-year improvement in adjusted EBITDA of $2.3 million [7][9] - Adjusted EBITDA for the passenger segment improved by $2.7 million year-over-year, reaching $6.3 million as of Q1 2025, up from $3.6 million in Q4 2024 [9][16] - Medical revenue remained roughly flat year-over-year at $35.9 million, with significant variability in monthly growth trends [17][20] Business Line Data and Key Metrics Changes - Passenger segment revenue grew by 42% year-over-year excluding Canada, marking the first adjusted EBITDA profitable quarter since going public [7][9] - Short distance revenue increased by 28.1% year-over-year, primarily driven by growth in Europe [16] - Jet and Other revenue increased by 60% year-over-year due to higher flight volume and revenue per flight [16] Market Data and Key Metrics Changes - The European market showed strong revenue growth attributed to restructuring efforts, which improved operational efficiency and customer experience [8][16] - The medical business is expected to benefit from strong underlying transplant volume growth, with industry transplant volume rising 7% year-over-year [24] Company Strategy and Development Direction - The company is focused on disciplined capital allocation, evaluating investments in aircraft and medical acquisitions to strengthen its competitive position [14][45] - The transition from helicopters to eVTOL is seen as a key strategic direction, with expectations for deployment in late 2025 to early 2026 [62] - The company aims to enhance profitability through cost rationalization initiatives and restructuring efforts, particularly in the passenger segment [10][13] Management's Comments on Operating Environment and Future Outlook - Management acknowledged economic uncertainty but expressed confidence in the resilience of their higher-end consumer base and ongoing demand in leisure markets [12][32] - The company expects continued revenue growth in the medical segment, with double-digit growth anticipated for the year [24][25] - Management noted that maintenance downtime is expected to moderate in the second half of 2025, leading to improved adjusted EBITDA margins [20][25] Other Important Information - The company ended the quarter with no debt and $120 million in cash and short-term investments, providing flexibility for strategic investments [23] - The company has implemented a withhold to cover method for taxes on employee stock-based compensation, effectively reducing outstanding shares [22] Q&A Session Summary Question: Themes for the year regarding passenger and medical segments - Management highlighted improved profitability in the passenger segment and the impact of maintenance on medical revenue, with expectations for better performance in the second half of the year [28][30] Question: Revenue contribution from Europe and sustainability of growth - Management confirmed approximately $6 million of revenue from Europe in Q1, attributing growth to restructuring and improved service [44] Question: Capital allocation priorities - The company is focused on tactical and strategic medical acquisitions, organic growth initiatives, and has a buyback authorization in place [45][46] Question: Bookings trends and impact of recent issues - Management noted that bookings for summer appear better than last year, but emphasized the on-demand nature of their service [50][53] Question: Repositioning aircraft strategy - Management explained that repositioning will always be part of the business, with a low to mid single-digit revenue headwind expected [71][72] Question: Impact of economic conditions on aircraft acquisitions - Management stated that there is no impact on their aircraft acquisition strategy, with plans to add a low single-digit number of aircraft over the next year or two [75][76]

Financial Data and Key Metrics Changes - The company reported an 11% revenue growth excluding Canada, with a year-over-year improvement in adjusted EBITDA of $2.3 million [6][21] - The passenger segment revenue grew 42% year-over-year excluding Canada, marking the first adjusted EBITDA profitable quarter since going public [6][7] - Medical revenue remained roughly flat year-over-year at $35.9 million, with significant monthly variability observed [14][15] Business Line Data and Key Metrics Changes - Passenger segment adjusted EBITDA improved by $2.7 million year-over-year, reaching $6.3 million as of Q1 2025, up from $3.6 million in Q4 2024 [7][13] - Short distance revenue increased by 28.1% year-over-year, primarily driven by growth in Europe [13] - Jet and Other revenue increased by 60% year-over-year due to higher flight volume and revenue per flight [13] Market Data and Key Metrics Changes - The European market showed strong revenue growth attributed to restructuring efforts, with approximately $6 million in revenue for Q1 [43] - The company expects ongoing year-over-year benefits from cost and restructuring actions in the passenger segment [8][11] Company Strategy and Development Direction - The company is focused on disciplined capital allocation, evaluating investments in aircraft and medical acquisitions to strengthen its competitive position [12][21] - The transition from helicopters to eVTOL is seen as a significant opportunity, with expectations for deployment in late 2025 to early 2026 [61] - The company aims to enhance customer service by positioning dedicated aircraft closer to customers, resulting in improved service and reduced repositioning costs [36][54] Management's Comments on Operating Environment and Future Outlook - Management acknowledged macroeconomic uncertainties but expressed confidence in the resilience of their higher-end consumer base [10][24] - The company expects to see improved medical segment adjusted EBITDA margins in the second half of 2025, despite elevated maintenance downtime in Q2 [22][23] - Management remains optimistic about the passenger segment's performance, particularly in Europe, and anticipates continued growth in the medical segment [29][34] Other Important Information - The company ended Q1 2025 with $120 million in cash and short-term investments, providing flexibility for strategic investments [20] - The company has implemented a withhold to cover method for taxes on employee stock-based compensation, effectively reducing outstanding shares [20] Q&A Session Summary Question: Themes for the year regarding passenger and medical segments - Management highlighted improved profitability in the passenger segment and the impact of maintenance on medical mobility, with expectations for better performance in the second half of the year [28][34] Question: Revenue contribution from Europe and sustainability of growth - Approximately $6 million of revenue was generated from Europe in Q1, with expectations for seasonality affecting future performance [43] Question: Capital allocation priorities - The company focuses on tactical and strategic medical acquisitions, organic growth initiatives, and has a buyback authorization in place [44] Question: Bookings trends and impact of recent issues - Bookings for summer appear better than last year, but the company is monitoring the situation at Newark closely [48][51] Question: Repositioning aircraft strategy - The company has added 50% more dedicated aircraft, improving service delivery and reducing repositioning needs [53] Question: eVTOL deployment timing and route extensions - eVTOL deployment is expected in late 2025 to early 2026, with potential for new landing zones and route extensions [58][61] Question: Update on New Jersey site operations - The Newport Heliport is primarily used for charter services, and the company aims to manage more heliports in its service area [65]

Investor Presentation May 2025 FORWARD LOOKING STATEMENTS This investor presentation contains "forward-looking statements" within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include all statements that are not historical facts and may be identified by the use of words such as "will", "anticipate", "believe", "could", "continue", "expect", "estimate", "may", "plan", "outlook", "future", "target", and "project" and other simil ...

Revenue Performance - Revenue for Q1 2025 increased by 5.4% to $54.3 million compared to $51.5 million in Q1 2024, with a 10.9% increase when excluding Canada[11] - Total revenue for Q1 2025 was $54,306,000, representing a 5.4% increase from $51,514,000 in Q1 2024[36] - Passenger revenue increased by 18.5% to $18,358,000 in Q1 2025 from $15,488,000 in Q1 2024[38] - Total revenue for the last twelve months reached $251,485 million, with significant contributions from MediMobility Organ Transport at $146,739 million[55] Profitability and Loss - Net loss improved by $0.7 million to $(3.5) million in Q1 2025, while Adjusted EBITDA improved by $2.3 million to $(1.2) million[7] - Net loss for Q1 2025 was $3,493,000, an improvement from a net loss of $4,234,000 in Q1 2024[28] - Adjusted EBITDA for Q1 2025 was $(1,238,000), an improvement from $(3,546,000) in Q1 2024[44] - Free cash flow for the three months ended March 31, 2025, was $(3,397) million, compared to $(16,678) million in the same period of 2024[53] Operating Performance - Flight Profit increased by 18.1% to $12.0 million, with Flight Margin improving to 22.1% from 19.7% year-over-year[11] - The company reported a flight margin of 22.1% in Q1 2025, up from 19.7% in Q1 2024[44] - Gross profit increased to $8,093 million, resulting in a gross margin of 14.9%, compared to a gross margin of 11.4% in the prior year[46] - Total operating expenses for Q1 2025 were $61,889,000, compared to $61,382,000 in Q1 2024, resulting in a loss from operations of $7,583,000[28] Cash Flow and Financial Position - Operating Cash Flow increased by $15.3 million to $(0.2) million, with Free Cash Flow before Aircraft Acquisitions improving by $14.0 million to $(2.7) million[11] - Cash and cash equivalents increased to $34,830,000 as of March 31, 2025, up from $18,378,000 at December 31, 2024[26] - The company ended Q1 2025 with $120.0 million in cash and short-term investments[11] - Total assets decreased to $250,550,000 as of March 31, 2025, down from $256,675,000 at December 31, 2024[26] - Total stockholders' equity was $219,732,000 as of March 31, 2025, compared to $221,938,000 at December 31, 2024[26] Strategic Initiatives and Future Outlook - The company reaffirmed its full-year 2025 guidance, expecting revenue between $245 million and $265 million and double-digit Adjusted EBITDA[16] - The company launched service between Downtown Manhattan Heliport and JFK Airport, gathering data to support future EVTOL operations[16] - The company’s Medical Segment is expected to grow with the onboarding of new customers and continued growth with existing ones[8] - The company is focused on expanding its market presence and enhancing its fleet composition, including the transition to Electric Vertical Aircraft (EVA)[56] - Future financial guidance indicates a continued focus on improving operational efficiency and revenue growth, with expectations for market expansion and new product lines[58] - The company is actively pursuing strategic acquisitions and partnerships to enhance its service offerings and operational capabilities[59]

| | | | Three Months Ended March 31, | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | | | | 2025 | | 2024 | | % Change | | | Revenue | $ | 54,306 | $ | 51,514 | | 5.4 | % | | Cost of revenue | $ | 42,328 | $ | 41,375 | | 2.3 | % | | Software development | | 812 | | 670 | | 21.2 | % | | General and administrative | | 17,314 | | 17,209 | | 0.6 | % | | Selling and marketing | | 1,435 | | 2,128 | | (32.6 ) | % | | Total operating expenses | $ | 61,889 | $ | 61,382 | | 0.8 | % | | Loss from operations ...

Company Overview - Blade Air Mobility, Inc. is a provider of air transportation and logistics services, primarily for hospitals in the United States, and is one of the largest transporters of human organs for transplant [3] - The company offers helicopter and fixed-wing services mainly in the Northeast United States and Southern Europe, operating an asset-light model with exclusive passenger terminal infrastructure and proprietary technologies [3] Financial Results Announcement - Blade will release its financial results for the first quarter ended March 31, 2025, on May 12, 2025, before the market opens [1] - A conference call will be held on the same day at 8:00 am Eastern Time, hosted by the CEO Rob Wiesenthal and CFO Will Heyburn, including a question-and-answer session [1][2] Business Model and Technology - Blade's business model is designed to facilitate a seamless transition from traditional air transport to Electric Vertical Aircraft (EVA or eVTOL), aiming for lower-cost, quiet, and emission-free air mobility [3]

Market Overview - The stock market is showing positive momentum as April closes, driven by hopes of easing trade tensions between China and the U.S. [1] - May presents a fresh opportunity for investors, particularly in penny stocks, as optimism around trade tariff resolutions builds [2][6] Company Analysis: Compass Therapeutics (NASDAQ: CMPX) - Compass Therapeutics has demonstrated strong stock performance in 2025, with a year-to-date increase of over 38%, currently trading at $1.94 [3][5] - The company is advancing its clinical pipeline, particularly with CTX-10726, a PD-1 x VEGF-A bispecific antibody, and plans to submit an IND by the end of 2025 [5][7] - Analysts predict a significant upside for CMPX, with a consensus "Buy" rating and an average price target of $12, indicating a potential increase of 527% over the next year [7] Company Analysis: Blade Air Mobility (NASDAQ: BLDE) - Blade Air Mobility operates a technology-enabled air transport platform, focusing on medical and passenger transportation, with expected double-digit growth in its medical business in 2025 [8] - The company has strengthened its financial position, achieving positive cash flow and maintaining a debt-free balance sheet with $136 million in cash, allowing for fleet growth and potential share buybacks [9] - Despite a recent rally of over 4% to $2.71, BLDE is down over 36% year-to-date, but analysts remain optimistic, forecasting a 117% upside with an average price target of $5.83 [9][11]

Group 1 - Blade Air Mobility's business is progressing positively, but it has not yet attracted significant investor attention [1] - The company's Q4 results showed weaknesses, particularly in guidance amid a challenging demand environment [1] - Narweena, an asset manager, focuses on identifying market dislocations and believes in achieving excess risk-adjusted returns through secular growth opportunities [1] Group 2 - Narweena's research emphasizes company and industry fundamentals to uncover unique insights, targeting deeply undervalued stocks [1] - The firm has a high risk appetite and a long-term investment horizon, favoring smaller cap stocks and markets with less obvious competitive advantages [1] - The aging population and low growth rates are expected to create new investment opportunities, while many industries may face stagnation or decline [1] Group 3 - The economic landscape is shifting towards asset-light businesses, reducing the need for infrastructure investments over time [1] - A large pool of capital is pursuing a limited set of investment opportunities, leading to rising asset prices and compressed risk premia [1] - Richard Durant, the leader of Narweena, has a strong educational background in engineering, finance, and an MBA, along with passing the CFA exams [1]

Financial Data and Key Metrics Changes - Blade Air Mobility achieved its first full year of adjusted EBITDA profitability with a $17.8 million year-over-year improvement in adjusted EBITDA for 2024 [8] - Revenue, excluding Canada, increased by 22.1% in Q4 2024 compared to the prior year, while Q4 flight profit rose by 40% year-over-year [9][10] - The company reported $127 million in cash and short-term investments at the end of 2024, with no debt [20][29] Business Line Data and Key Metrics Changes - Passenger segment adjusted EBITDA margin expanded by over 16 percentage points year-over-year, approaching break-even, driven by a 630 basis point improvement in flight margin and an 18% reduction in adjusted SG&A [23] - Medical revenue rose 13.7% year-over-year to $36.4 million, with adjusted EBITDA margin improving by over 700 basis points to 15.1% in Q4 2024 [24][26] - The passenger segment achieved $3.6 million of adjusted EBITDA for the full year 2024, an increase of $8.6 million versus the prior year [11] Market Data and Key Metrics Changes - The company noted a 2% sequential decline in heart, liver, and lung transplant volumes in Q4 2024 compared to Q3 2024, which was less than anticipated [25] - Early results from European restructuring showed strong year-over-year revenue growth and profitability improvement during the winter ski season [14] Company Strategy and Development Direction - Blade is focused on maximizing growth in Urban Air Mobility, particularly through its New York City airport transfer service, which saw high teens year-over-year revenue expansion in Q4 [10] - The company is transitioning to electric vertical aircraft (eVTOL) and is optimistic about the future growth opportunities in the organ transplant logistics market [10][41] - A strategic partnership with Skyports Infrastructure aims to enhance ground infrastructure for advanced air mobility, supporting the transition to eVTOL [14][16] Management's Comments on Operating Environment and Future Outlook - Management expressed cautious optimism regarding the medical segment's growth, anticipating double-digit revenue growth in 2025 despite some uncertainty due to recent transplant volume trends [32][41] - The company expects to generate positive free cash flow before aircraft acquisitions, although cash flow will be impacted by elevated maintenance spending on owned aircraft [40] Other Important Information - Blade introduced a new mobile app to enhance user experience, offering features like easy flight booking and trip management [16] - The company is preparing for the launch of two new transplant centers in April, which will contribute to revenue growth [18] Q&A Session Summary Question: What catalysts will drive growth in the two businesses? - Management highlighted continued savings in SG&A and the onboarding of new customers in the medical segment as key growth drivers [50][52] Question: When can eVTOLs be expected? - Management anticipates eVTOLs may be operational in the Middle East by early 2026 and in the US by late 2027 or early 2028 [56][57] Question: How is the European market performing? - Management reported significant cost reductions and positive revenue growth in Europe, particularly during the ski season [73][75] Question: What is the strategy regarding passenger margins? - The company is optimizing its schedule and pricing strategy to enhance profitability rather than simply increasing seat count [82][86] Question: How will maintenance impact the Medical segment? - Management indicated that elevated maintenance in the first half of 2025 is due to time-based requirements and will affect operating leverage [100][102]